01:34 PM EDT, 05/06/2024 (MT Newswires) -- Lyell Immunopharma ( LYEL ) shares were up nearly 4% in recent trading Monday, after Q1 net loss narrowed.

The company reported Q1 net loss of $0.24 per diluted share, narrowing from a loss of $0.27 a year earlier.

Analysts polled by Capital IQ expected a net loss of $0.21.

Revenue for the quarter ended March 31 was $3,000, down from $65,000 a year earlier.

Analysts surveyed by Capital IQ expected no revenue.

The company said its cash, cash equivalents and marketable securities of $526.3 million as of March 31 will be sufficient to meet working capital and capital expenditure needs into 2027.

Price: 2.45, Change: +0.09, Percent Change: +3.86