Intrinsic value of Array BioPharma - ARRY

Previous Close

$14.71

  Intrinsic Value

$0.01

stock screener

  Rating & Target

str. sell

-100%

Previous close

$14.71

 
Intrinsic value

$0.01

 
Up/down potential

-100%

 
Rating

str. sell

We calculate the intrinsic value of ARRY stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 3.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  241
  373
  558
  809
  1,142
  1,569
  2,107
  2,766
  3,559
  4,496
  5,583
  6,826
  8,227
  9,789
  11,510
  13,388
  15,422
  17,608
  19,942
  22,421
  25,041
  27,800
  30,696
  33,727
  36,893
  40,194
  43,632
  47,209
  50,929
  54,795
Variable operating expenses, $m
  385
  595
  890
  1,291
  1,822
  2,505
  3,362
  4,415
  5,681
  7,175
  8,910
  10,894
  13,130
  15,623
  18,369
  21,368
  24,614
  28,103
  31,828
  35,784
  39,966
  44,369
  48,991
  53,828
  58,881
  64,150
  69,637
  75,346
  81,282
  87,452
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  385
  595
  890
  1,291
  1,822
  2,505
  3,362
  4,415
  5,681
  7,175
  8,910
  10,894
  13,130
  15,623
  18,369
  21,368
  24,614
  28,103
  31,828
  35,784
  39,966
  44,369
  48,991
  53,828
  58,881
  64,150
  69,637
  75,346
  81,282
  87,452
Operating income, $m
  -144
  -222
  -332
  -482
  -680
  -935
  -1,256
  -1,649
  -2,121
  -2,680
  -3,327
  -4,068
  -4,903
  -5,834
  -6,860
  -7,980
  -9,192
  -10,494
  -11,885
  -13,363
  -14,925
  -16,569
  -18,295
  -20,101
  -21,988
  -23,956
  -26,005
  -28,137
  -30,354
  -32,658
EBITDA, $m
  -141
  -219
  -327
  -474
  -669
  -920
  -1,235
  -1,622
  -2,087
  -2,635
  -3,273
  -4,001
  -4,823
  -5,738
  -6,747
  -7,848
  -9,041
  -10,322
  -11,690
  -13,143
  -14,679
  -16,296
  -17,994
  -19,771
  -21,627
  -23,562
  -25,577
  -27,674
  -29,854
  -32,121
Interest expense (income), $m
  4
  13
  3
  12
  25
  42
  64
  94
  130
  175
  229
  293
  367
  452
  548
  654
  771
  899
  1,038
  1,187
  1,346
  1,515
  1,694
  1,882
  2,080
  2,286
  2,502
  2,727
  2,962
  3,205
  3,459
Earnings before tax, $m
  -157
  -225
  -344
  -507
  -722
  -1,000
  -1,349
  -1,779
  -2,297
  -2,909
  -3,621
  -4,435
  -5,355
  -6,382
  -7,514
  -8,751
  -10,091
  -11,533
  -13,073
  -14,709
  -16,440
  -18,263
  -20,177
  -22,181
  -24,274
  -26,458
  -28,732
  -31,098
  -33,559
  -36,117
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -157
  -225
  -344
  -507
  -722
  -1,000
  -1,349
  -1,779
  -2,297
  -2,909
  -3,621
  -4,435
  -5,355
  -6,382
  -7,514
  -8,751
  -10,091
  -11,533
  -13,073
  -14,709
  -16,440
  -18,263
  -20,177
  -22,181
  -24,274
  -26,458
  -28,732
  -31,098
  -33,559
  -36,117

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  183
  283
  422
  613
  865
  1,189
  1,596
  2,096
  2,697
  3,406
  4,229
  5,171
  6,233
  7,416
  8,719
  10,143
  11,684
  13,339
  15,108
  16,985
  18,971
  21,061
  23,254
  25,551
  27,949
  30,450
  33,055
  35,765
  38,582
  41,511
Adjusted assets (=assets-cash), $m
  183
  283
  422
  613
  865
  1,189
  1,596
  2,096
  2,697
  3,406
  4,229
  5,171
  6,233
  7,416
  8,719
  10,143
  11,684
  13,339
  15,108
  16,985
  18,971
  21,061
  23,254
  25,551
  27,949
  30,450
  33,055
  35,765
  38,582
  41,511
Revenue / Adjusted assets
  1.317
  1.318
  1.322
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
  1.320
Average production assets, $m
  12
  18
  27
  40
  56
  77
  103
  136
  174
  220
  274
  334
  403
  480
  564
  656
  756
  863
  977
  1,099
  1,227
  1,362
  1,504
  1,653
  1,808
  1,970
  2,138
  2,313
  2,496
  2,685
Working capital, $m
  -54
  -83
  -124
  -180
  -255
  -350
  -470
  -617
  -794
  -1,003
  -1,245
  -1,522
  -1,835
  -2,183
  -2,567
  -2,986
  -3,439
  -3,927
  -4,447
  -5,000
  -5,584
  -6,199
  -6,845
  -7,521
  -8,227
  -8,963
  -9,730
  -10,528
  -11,357
  -12,219
Total debt, $m
  31
  121
  247
  418
  645
  937
  1,303
  1,753
  2,293
  2,932
  3,673
  4,520
  5,476
  6,541
  7,714
  8,995
  10,382
  11,872
  13,463
  15,153
  16,940
  18,821
  20,795
  22,862
  25,021
  27,272
  29,616
  32,055
  34,591
  37,226
Total liabilities, $m
  165
  254
  380
  552
  778
  1,070
  1,436
  1,886
  2,427
  3,065
  3,806
  4,654
  5,609
  6,674
  7,847
  9,128
  10,515
  12,006
  13,597
  15,287
  17,073
  18,955
  20,929
  22,996
  25,154
  27,405
  29,749
  32,188
  34,724
  37,360
Total equity, $m
  18
  28
  42
  61
  86
  119
  160
  210
  270
  341
  423
  517
  623
  742
  872
  1,014
  1,168
  1,334
  1,511
  1,699
  1,897
  2,106
  2,325
  2,555
  2,795
  3,045
  3,305
  3,576
  3,858
  4,151
Total liabilities and equity, $m
  183
  282
  422
  613
  864
  1,189
  1,596
  2,096
  2,697
  3,406
  4,229
  5,171
  6,232
  7,416
  8,719
  10,142
  11,683
  13,340
  15,108
  16,986
  18,970
  21,061
  23,254
  25,551
  27,949
  30,450
  33,054
  35,764
  38,582
  41,511
Debt-to-equity ratio
  1.700
  4.270
  5.840
  6.820
  7.460
  7.880
  8.160
  8.360
  8.500
  8.610
  8.680
  8.740
  8.790
  8.820
  8.850
  8.870
  8.890
  8.900
  8.910
  8.920
  8.930
  8.940
  8.940
  8.950
  8.950
  8.960
  8.960
  8.960
  8.970
  8.970
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -157
  -225
  -344
  -507
  -722
  -1,000
  -1,349
  -1,779
  -2,297
  -2,909
  -3,621
  -4,435
  -5,355
  -6,382
  -7,514
  -8,751
  -10,091
  -11,533
  -13,073
  -14,709
  -16,440
  -18,263
  -20,177
  -22,181
  -24,274
  -26,458
  -28,732
  -31,098
  -33,559
  -36,117
Depreciation, amort., depletion, $m
  2
  4
  5
  8
  11
  15
  21
  27
  35
  44
  55
  67
  81
  96
  113
  131
  151
  173
  195
  220
  245
  272
  301
  331
  362
  394
  428
  463
  499
  537
Funds from operations, $m
  -155
  -222
  -339
  -499
  -711
  -985
  -1,329
  -1,752
  -2,262
  -2,865
  -3,566
  -4,368
  -5,275
  -6,286
  -7,401
  -8,620
  -9,940
  -11,360
  -12,877
  -14,489
  -16,194
  -17,990
  -19,876
  -21,850
  -23,913
  -26,064
  -28,304
  -30,636
  -33,060
  -35,580
Change in working capital, $m
  -20
  -29
  -41
  -56
  -74
  -95
  -120
  -147
  -177
  -209
  -242
  -277
  -313
  -348
  -384
  -419
  -454
  -487
  -520
  -553
  -584
  -615
  -646
  -676
  -706
  -736
  -767
  -798
  -829
  -862
Cash from operations, $m
  -135
  -192
  -298
  -443
  -637
  -889
  -1,209
  -1,605
  -2,085
  -2,656
  -3,323
  -4,091
  -4,962
  -5,937
  -7,017
  -8,201
  -9,487
  -10,873
  -12,357
  -13,937
  -15,610
  -17,375
  -19,230
  -21,174
  -23,207
  -25,328
  -27,538
  -29,838
  -32,231
  -34,718
Maintenance CAPEX, $m
  -1
  -2
  -4
  -5
  -8
  -11
  -15
  -21
  -27
  -35
  -44
  -55
  -67
  -81
  -96
  -113
  -131
  -151
  -173
  -195
  -220
  -245
  -272
  -301
  -331
  -362
  -394
  -428
  -463
  -499
New CAPEX, $m
  -4
  -6
  -9
  -12
  -16
  -21
  -26
  -32
  -39
  -46
  -53
  -61
  -69
  -77
  -84
  -92
  -100
  -107
  -114
  -121
  -128
  -135
  -142
  -149
  -155
  -162
  -168
  -175
  -182
  -189
Cash from investing activities, $m
  -5
  -8
  -13
  -17
  -24
  -32
  -41
  -53
  -66
  -81
  -97
  -116
  -136
  -158
  -180
  -205
  -231
  -258
  -287
  -316
  -348
  -380
  -414
  -450
  -486
  -524
  -562
  -603
  -645
  -688
Free cash flow, $m
  -141
  -201
  -310
  -461
  -661
  -921
  -1,250
  -1,658
  -2,151
  -2,737
  -3,421
  -4,207
  -5,098
  -6,095
  -7,197
  -8,406
  -9,717
  -11,131
  -12,644
  -14,254
  -15,958
  -17,756
  -19,645
  -21,624
  -23,693
  -25,851
  -28,100
  -30,441
  -32,875
  -35,406
Issuance/(repayment) of debt, $m
  -103
  90
  126
  171
  227
  292
  366
  450
  541
  638
  741
  847
  956
  1,065
  1,173
  1,281
  1,387
  1,490
  1,591
  1,690
  1,787
  1,881
  1,974
  2,067
  2,159
  2,251
  2,344
  2,439
  2,536
  2,636
Issuance/(repurchase) of shares, $m
  329
  235
  358
  526
  747
  1,032
  1,390
  1,829
  2,357
  2,980
  3,703
  4,529
  5,462
  6,500
  7,644
  8,893
  10,245
  11,698
  13,250
  14,897
  16,638
  18,472
  20,396
  22,410
  24,514
  26,708
  28,993
  31,369
  33,841
  36,410
Cash from financing (excl. dividends), $m  
  226
  325
  484
  697
  974
  1,324
  1,756
  2,279
  2,898
  3,618
  4,444
  5,376
  6,418
  7,565
  8,817
  10,174
  11,632
  13,188
  14,841
  16,587
  18,425
  20,353
  22,370
  24,477
  26,673
  28,959
  31,337
  33,808
  36,377
  39,046
Total cash flow (excl. dividends), $m
  85
  124
  174
  237
  313
  403
  506
  621
  747
  882
  1,023
  1,170
  1,319
  1,470
  1,620
  1,769
  1,915
  2,058
  2,197
  2,333
  2,467
  2,597
  2,726
  2,853
  2,980
  3,108
  3,237
  3,367
  3,501
  3,639
Retained Cash Flow (-), $m
  -329
  -235
  -358
  -526
  -747
  -1,032
  -1,390
  -1,829
  -2,357
  -2,980
  -3,703
  -4,529
  -5,462
  -6,500
  -7,644
  -8,893
  -10,245
  -11,698
  -13,250
  -14,897
  -16,638
  -18,472
  -20,396
  -22,410
  -24,514
  -26,708
  -28,993
  -31,369
  -33,841
  -36,410
Prev. year cash balance distribution, $m
  165
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -79
  -111
  -185
  -289
  -434
  -630
  -884
  -1,208
  -1,610
  -2,098
  -2,680
  -3,360
  -4,142
  -5,030
  -6,024
  -7,125
  -8,331
  -9,641
  -11,052
  -12,564
  -14,172
  -15,875
  -17,670
  -19,557
  -21,534
  -23,600
  -25,756
  -28,002
  -30,340
  -32,770
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -75
  -102
  -161
  -238
  -337
  -457
  -597
  -755
  -925
  -1,100
  -1,273
  -1,434
  -1,575
  -1,689
  -1,769
  -1,811
  -1,813
  -1,775
  -1,702
  -1,596
  -1,466
  -1,317
  -1,158
  -996
  -838
  -689
  -553
  -433
  -331
  -247
Current shareholders' claim on cash, %
  50.0
  21.9
  9.6
  4.3
  1.9
  0.9
  0.4
  0.2
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. The Company's programs include approximately three cancer drugs, binimetinib, encorafenib and selumetinib (partnered with AstraZeneca, PLC). Its binimetinib and encorafenib are in Phase III trials in advanced cancer patients, including the COLUMBUS trial studying encorafenib in combination with binimetinib in patients with BRAF-mutant melanoma and has initiated BEACON CRC trial to study encorafenib in combination with binimetinib and cetuximab in patients with BRAF V600E-mutant colorectal cancer (BRAFm CRC). Its selumetinib is a mitogen-activated protein kinase (MEK) inhibitor for cancer, which is in Phase III trial. Its advanced clinical-stage drugs include Filanesib, ARRY-797, ASC08/Danoprevir, Ipatasertib/GDC-0068, Motolimod/VTX-2337, LOXO-101, ONT-380/ARRY-380, GDC-0575, GDC-0994 and ARRY-382.

FINANCIAL RATIOS  of  Array BioPharma (ARRY)

Valuation Ratios
P/E Ratio -21.5
Price to Sales 16.7
Price to Book 210
Price to Tangible Book
Price to Cash Flow -64.6
Price to Free Cash Flow -58.6
Growth Rates
Sales Growth Rate 9.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 33.3%
Cap. Spend. - 3 Yr. Gr. Rate 5.9%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 1116.7%
Total Debt to Equity 1116.7%
Interest Coverage -28
Management Effectiveness
Return On Assets -50.4%
Ret/ On Assets - 3 Yr. Avg. -30.4%
Return On Total Capital -105.4%
Ret/ On T. Cap. - 3 Yr. Avg. -59.9%
Return On Equity 900%
Return On Equity - 3 Yr. Avg. -904.7%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 76.2%
Gross Margin - 3 Yr. Avg. 58.3%
EBITDA Margin -73.5%
EBITDA Margin - 3 Yr. Avg. -34.6%
Operating Margin -68.2%
Oper. Margin - 3 Yr. Avg. -40.6%
Pre-Tax Margin -77.5%
Pre-Tax Margin - 3 Yr. Avg. -42.5%
Net Profit Margin -77.5%
Net Profit Margin - 3 Yr. Avg. -42.5%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

ARRY stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ARRY stock intrinsic value calculation we used $150.852 million for the last fiscal year's total revenue generated by Array BioPharma. The default revenue input number comes from 0001 income statement of Array BioPharma. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ARRY stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for ARRY is calculated based on our internal credit rating of Array BioPharma, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Array BioPharma.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ARRY stock the variable cost ratio is equal to 159.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for ARRY stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 10% for Array BioPharma.

Corporate tax rate of 27% is the nominal tax rate for Array BioPharma. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ARRY stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ARRY are equal to 4.9%.

Life of production assets of 3.6 years is the average useful life of capital assets used in Array BioPharma operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ARRY is equal to -22.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $11.727 million for Array BioPharma - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 210.637 million for Array BioPharma is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Array BioPharma at the current share price and the inputted number of shares is $3.1 billion.

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COMPANY NEWS

▶ Harry Boxers four stocks to watch this week   [Nov-01-18 02:46PM  MarketWatch]
▶ Why Array BioPharma Is Soaring Today   [Oct-31-18 03:31PM  Motley Fool]
▶ Array BioPharma: Fiscal 1Q Earnings Snapshot   [08:20AM  Associated Press]
▶ Array BioPharma: Fiscal 4Q Earnings Snapshot   [08:33AM  Associated Press]
▶ Will Array Biopharma Break Its Downtrend?   [03:40AM  Investopedia]
▶ Array BioPharma: Fiscal 3Q Earnings Snapshot   [08:14AM  Associated Press]
▶ A Six-Pack of Biotech Bets   [Feb-22-18 06:00AM  Investopedia]
▶ 3 Biotech Stocks That Soared This Week: Are They Buys?   [Feb-10-18 10:33AM  Motley Fool]
▶ Here's Why Array BioPharma Inc. Is Rising Today   [Feb-06-18 03:55PM  Motley Fool]
▶ Array BioPharma reports 2Q loss   [08:17AM  Associated Press]
▶ PRESS DIGEST- British Business - Feb 2   [Feb-01-18 07:45PM  Reuters]
▶ Taking Stock of Radius Healths Financial Performance   [Jan-26-18 07:34AM  Market Realist]
▶ Taking Stock of Radius Healths Licensing Agreements   [Jan-25-18 03:15PM  Market Realist]

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