Last week, Array BioPharma Inc. (ARRY) reported a fourth-quarter net loss of 55 cents per share which was in line with the Zacks Consensus Estimate. The company had a loss of 68 cents in the year-ago quarter. Net loss for fiscal 2009 was $2.67 per share, compared with $2.04 last year.

Quarterly revenue came in at $5.5 million, representing a 10% decline from the comparable quarter in 2008. Sales for the full year fell by 13% to $25 million.

The narrower quarterly loss was primarily attributable to lower spending on research and development. The company spent $21.3 million towards research and development for the quarter for the clinical advancement of its wholly owned drugs versus $28.4 million in year-ago quarter.

Last January, Array had announced a restructuring plan of scaling down its research and development costs and accelerating partnership initiatives to ensure sustainable growth under current market conditions.

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Pipex Pharmaceuticals, Inc. (AMEX: PP) recently announced that Nicholas Stergis, co-founder and vice chairman of the board of directors, has joined the executive management team as chief executive officer, replacing Steve H. Kanzer who will continue to serve as the company’s chairman. In addition, the company announced the resignations of Daniel J. Dorman, a director, and Dr. Charles L. Bisgaier, Pipex’s president, effective immediately.

As an original co-founder of Pipex Therapeutics, Inc., the predecessor company, Mr. Stergis has been vice chairman of the company’s board of directors since March 2007. He has also served as Pipex’s chief operating officer from 2001 until October 2006. Prior to co-founding Pipex, Mr. Stergis was co-founder, chief operating officer and director of Developmental Therapeutics, Inc., a cardiovascular drug development company. Mr. Stergis earned his his Bachelor of Science degree in biology from the University at Albany, State University of New York, and his Master of

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