05:37 PM EDT, 05/08/2024 (MT Newswires) -- Revolution Medicines ( RVMD ) reported a Q1 net loss Wednesday of $0.70 per share, narrowing from a loss of $0.72 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.75.

The company did not record any revenue for the quarter ended March 31, compared with $7 million a year ago.

Analysts surveyed by Capital IQ expected $670,000.

The company had cash, cash equivalents and marketable securities of $1.70 billion as of March 31, which it expects to fund planned operations into 2027.

Revolution Medicines ( RVMD ) stock was down more than 1% in after-hours activity.

Price: 37.82, Change: -0.49, Percent Change: -1.28