04:23 PM EDT, 05/09/2024 (MT Newswires) -- Iovance Biotherapeutics ( IOVA ) reported a Q1 net loss late Thursday of $0.42 per diluted share, narrower than a loss of $0.50 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.43.

Revenue for the quarter ended March 31 was $715,000, compared with no revenue a year ago.

Analysts surveyed by Capital IQ expected $2.1 million.

The company said that as of March 31 it had cash, cash equivalents, investments, and restricted cash of about $362.6 million. The cash position and expected revenue from Amtagvi and Proleukin drugs are seen as enough to fund operations well into H2 2025, the company said.

Shares were up 7% in after-hours activity.

Price: 14.39, Change: +0.94, Percent Change: +6.99