Verona Pharma (VRNA) reported a Q1 loss Tuesday of $0.02 per diluted share, narrowing from a loss of $0.04 a year earlier.
Analysts polled by FactSet expected a loss of $0.08.
Revenue for the quarter ended March 31 was $76.3 million, compared to no revenue a year earlier.
Analysts surveyed by FactSet expected $53.4 million.
Shares of the company were up more than 11% in recent premarket activity.