04:57 AM EDT, 05/10/2024 (MT Newswires) -- MacroGenics ( MGNX ) reported a Q1 diluted loss late Thursday of $0.84 per share, wider than the $0.61 loss per share a year earlier.

Analysts polled by Capital IQ expected a loss of $0.65 per share.

Revenue for the quarter ended March 31 was $9.1 million, down from $24.5 million a year earlier.

Analysts surveyed by Capital IQ expected $14.9 million.

As of March 31, cash and cash equivalent for the company totaled $184.2 million, which along with future payments from partners and product revenue is expected to fund operations into 2026, the company said.

MacroGenics ( MGNX ) shares were down about 60% in premarket activity Friday.

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