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SQZ Biotechnologies Q1 Net Loss Widens After 14% Year-Over-Year Revenue Decline

05/11/2021 13:20

05:03 PM EDT, 05/11/2021 (MT Newswires) -- SQZ Biotechnologies (SQZ) late Tuesday reported a Q1 net loss of $15.4 million compared with a $10.6 million loss for the cell therapy company during the year-ago period while revenue for the first three months of 2021 fell to $5.5 million from $6.4 million in revenue during the same quarter last year.

The three analysts polled by Capital IQ had been expecting SQZ to generate $5.5 million in Q1 revenue.

The company finished the quarter with $204.9 million in cash and equivalents, up from $170.4 million at the end of 2020. It said the available resources should be enough to fund operations through the first half of 2023.

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