A novel antibacterial metabolite, ARK42, was elated from a xerophilic fungal strain K42, and Identified as Aspergillus repens based on its morphological characteristics. The metabolite exhibited antibacterial activities towards Staphylococcus aureus, Bacillus cereus, and Pseudomonas aeruginosa, with MICs of 25, 12.5, and $3.125{mu}g/ml$, respectively, and killed Pseudomonas aeruginosa with minimal bactericidal concentration (MBC) of $12.5{mu}g/ml$. Furthermore, anticancer activities were demonstrated against human colon cancer DLD- 1 and lung cancer LXFL529 cells with an $IC_50$ of 10 and $1{mu}g/ml$, respectively.