Centessa Pharmaceuticals (CNTA) reported a Q1 net loss Wednesday of $0.20 per diluted share, narrower than a loss of $0.38 a year earlier.
Analysts polled by FactSet expected a loss of $0.33.
License and other revenue for the quarter ended March 31 was $15 million.
The company did not report any revenue a year earlier.
As of March 31, the company said it had $424.9 million in cash, cash equivalents and investments, expected to fund operations into mid-2027.
The company's shares were down 3.3% in recent Wednesday premarket activity.
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