Seaport Therapeutics (SPTX) reported Monday its Q1 net loss widened to $10.34 per diluted share, compared with a loss of $5.65 a year earlier.

Two analysts polled by FactSet expected a loss of $10.64.

Cash, cash equivalents, and investments totaled $212.6 million as of March 31, which along with its initial public offering proceeds are expected to fund operations into 2029, the company said. Seaport said it raised $260 million in gross proceeds from its IPO in May.

Shares of Seaport were up 3.8% in premarket activity Monday.