Veradermics (MANE) reported Tuesday its Q1 loss widened to $27.2 million, compared with a net loss of $12.4 million a year earlier.

A single analyst polled by FactSet expected a loss of $18 million.

The company did not report revenue during the quarter.

Cash, cash equivalents and marketable securities totaled $390.8 million as of March 31. The company said those funds are expected to fund operations into 2030.