CureVac (CVAC) reported Q2 pre-tax loss Friday of 60 million euros ($70.1 million), narrowing from 71.2 million euros a year earlier.

Three analysts surveyed by FactSet expected pre-tax loss of 38.9 million euros.

Revenue for the quarter ended June 30 was 1.2 million euros, compared with 14.4 million euros a year earlier.

Four analysts polled by FactSet expected 3.3 million euros.

As of June 30, the company had 392.7 million euros in cash and cash equivalents on hand. The company expects its expected cash runway into 2028.