ArQule Inc. announced unaudited earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported profit from operations of $4,685,000 compared with loss from operations of $6,849,000 for the same period a year ago. Net income was $5,156,000 or $0.05 per diluted share compared with net loss of $7,201,000 or $0.10 per basic and diluted share for the same period a year ago. Research and development revenues were $13,706,000.

For the six months, the company reported income from operations of $660,000 compared with loss from operations of $14,117,000 for the same period a year ago. Net loss was $1,376,000 or $0.02 per basic and diluted share compared with $14,777,000 or $0.15 per basic and diluted share for the same period a year ago. Research and development revenues were $17,844,000.

For 2018, the company now expects revenue to range between $21 and $23 million. Net use of cash is expected to range between $28 and $30 million for the year. Net loss is expected to range between $10 and $14 million, and net loss per share to range between $0.10 and $0.14 for the year.