Apogee Therapeutics (APGE) reported a Q1 net loss Monday of $55.3 million, widening from a loss of $32.1 million a year earlier.

Analysts polled by FactSet expected a loss of $72.3 million.

The company reported no revenue for the quarter ended March 31, as expected by analysts.

Apogee reported cash, cash equivalents and marketable securities of $681.4 million as of March 31. These should be enough to allow the company to fund its operating expenses into Q1 2028, it said.

Apogee shares were up 5.6% in recent premarket activity.