results do not necessarily indicate future results. When you read this data, it is important that you also
read our financial statements and related notes, as well as the section entitled Management's Discussion
and Analysis of Financial Condition and Results of Operations appearing elsewhere in this Annual Report
on Form 10-K. Amounts are in thousands except per share data:
RESULTS OF OPERATIONS
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995,
including statements about our expectations related to the progress and success of drug discovery
activities conducted by Array and by our collaborators, our ability to obtain additional capital to fund our
operations and/or reduce our research and development spending, realizing new revenue streams and
obtaining future out-licensing collaboration agreements that include up-front, milestone and/or royalty
payments, our ability to realize up-front, milestone and royalty payments under our existing or any future
agreements, future research and development spending and projections relating to the level of cash we
expect to use in operations, our working capital requirements and our future headcount requirements. In
some cases, forward-looking statements can be identified by the use of terms such as ``may,'' ``will,''
``expects,'' ``intends,'' ``plans,'' ``anticipates,'' ``estimates,'' ``potential,'' or ``continue,'' or the negative
thereof or other comparable terms. These statements are based on current expectations, projections and
assumptions made by management and are not guarantees of future performance. Although we believe
that the expectations reflected in the forward-looking statements contained herein are reasonable, these
expectations or any of the forward-looking statements could prove to be incorrect and actual results could
differ materially from those projected or assumed in the forward-looking statements. Our future financial
condition, as well as any forward-looking statements are subject to significant risks and uncertainties,
including but not limited to the factors set forth under the heading ``Risk Factors'' in Item 1A of this Annual
Report on Form 10-K for the fiscal year ended June 30, 2012. All forward looking statements are made as
of the date hereof and, unless required by law, we undertake no obligation to update any forward-looking
with the financial statements and notes to those statements included elsewhere in this Annual Report.
Our fiscal year ends on June 30. When we refer to a fiscal year or quarter, we are referring to the year in
which the fiscal year ends and the quarters during that fiscal year. Therefore, fiscal 2012 refers to the
fiscal year ended June 30, 2012.
targeted small-molecule drugs to treat patients afflicted with cancer and inflammatory diseases. We are
building late-stage development capabilities, with two wholly-owned programs, ARRY-614 and
ARRY-520, and three partnered programs, Selumetinib partnered with AstraZeneca, MEK162 partnered
with Novartis, and Danoprevir, an NS3 protease inhibitor, partnered with InterMune / Roche, having the
potential to advance into registration trials by the end of 2013.