Vaxart (VXRT) reported a Q1 net loss late Tuesday of $0.07 per diluted share, narrowing from the loss of $0.14 a year earlier.

Two analysts polled by FactSet expected a loss of $0.07.

Revenue in the three months ended March 31 rose to $20.9 million from $2.18 million a year earlier.

The company had cash, cash equivalents and investments of $41.9 million as of March 31 with a cash runway expected into Q1 2026.

Vaxart appointed Jeroen Grasman as chief financial officer, effective May 19. He succeeds Phillip Lee, who resigned for personal reasons, the company said.

Grasman most recently was CFO at AltruBio.

Vaxart shares rose 5.9% in after-hours trading.