07:56 AM EDT, 05/07/2024 (MT Newswires) -- Apellis Pharmaceuticals ( APLS ) reported Q1 net loss Tuesday of $0.54 per diluted share, compared with a loss of $1.56 a year earlier.

Analysts surveyed by Capital IQ expected a loss of $0.45.

Revenue for the quarter ended March 31 was $172.3 million, up from $44.8 million a year earlier.

Analysts surveyed by Capital IQ expected $164.3 million.

The company said it ended the quarter with $325.9 million in cash and cash equivalents.

Apellis Pharmaceuticals' ( APLS ) shares were up 2.3% in recent Tuesday premarket activity.

Price: 49.94, Change: +1.13, Percent Change: +2.32