02:53 PM EDT, 05/08/2024 (MT Newswires) -- C4 Therapeutics ( CCCC ) shares were down 5% in recent Wednesday trading after the company reported its Q1 earnings.

The company reported a Q1 diluted loss of $0.41 per share, narrowing from a per-share $0.71 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.41 per share.

Revenue for the quarter ended March 31 was $3 million, down from $3.8 million a year earlier.

Analysts polled by Capital IQ expected $9.3 million.

As of March 31, the company said it had $299.2 million in cash, cash equivalents and marketable securities, and expected it could fund operations into 2027.

Price: 6.45, Change: -0.34, Percent Change: -5.01