10:27 AM EDT, 05/02/2024 (MT Newswires) -- BridgeBio Pharma's ( BBIO ) shares were slightly down in recent Thursday trading after the company reported its Q1 financial results.

The company reported a Q1 net loss of $0.20 per diluted share, compared with a loss of $0.92 per share a year earlier.

Analysts polled by Capital IQ expected a loss of $0.51.

Revenue for the quarter ended March 31 rose to $211.1 million, compared with $1.8 million a year earlier.

Analysts surveyed by Capital IQ expected $83.8 million.

The company said the sharp increase in its revenue was due primarily to the recognition of non-refundable upfront payments under the Bayer and Kyowa Kirin exclusive license agreements.

BridgeBio said it had cash, cash equivalents, marketable securities and short-term restricted cash of $519.8 million as of March 31, compared with $392.6 million as of the end of 2023.

Price: 27.01, Change: -0.02, Percent Change: -0.07