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ARRAY BIOPHARMA INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2019 10-Q, filed May 7, 2019. Its latest SEC filing is a SC 13G/A from Feb 14, 2020.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Develops targeted medicines for cancer and other diseases, and sells BRAFTOVI and MEKTOVI for melanoma through specialty distributors and pharmacies.

How Did They Make Money?

Partners pay Array through upfront license fees, research and development funding, milestone payments when specified goals are achieved, and royalties on product sales. Array also earns product-sales revenue when medicines are delivered and receives reimbursement for research costs from partners.

revenue

Who Were Their Customers?

In the U.S., specialty distributors and pharmacies handle BRAFTOVI and MEKTOVI and resell them to hospitals, oncology clinics or patients; outside the U.S., regional partners commercialize the medicines in their territories.

Did Revenues Turn Into Profits?

No. It lost $147.3M in .

Operating income,
−75% of revenue
▲ +27% (Loss) vs (−$102.1M, −68%)
Net income,
−85% of revenue
▲ +26% (Loss) vs (−$116.8M, −77%)

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q3 FY2019, the three months to Mar 31, 2019
Revenue
▼ −3%
vs $66.4M in Q3 FY2018
Net income
▲ +64% (Loss)
vs −$22.9M in Q3 FY2018
  • Jul 30, 2019 Pfizer completed its acquisition of Array Pfizer acquired control of Array, and its shares were to be delisted from Nasdaq.
  • Jun 17, 2019 Pfizer agreed to acquire Array The merger agreement provided for a tender offer followed by a merger, with Array becoming a wholly owned Pfizer subsidiary.

Grew. Revenue grew 4.1x in 4 years, from $42.1M in to $173.8M in , about 43% a year.

From pipeline to marketed medicines The older report presents Array mainly through its drug discovery and clinical-development programs; the latest report also describes U.S. sales of BRAFTOVI and MEKTOVI for melanoma.

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