NEW YORK (TheStreet) -- Juno Therapeutics (JUNO) shares are up 0.68% to $45.89 in after-hours trading on Monday following the release of the biopharmaceutical company's first quarter earnings results after the closing bell today.
The company reported a first quarter net loss of $24.2 million, or a loss of 30 cents per share on an adjusted basis. Analysts on average were expecting the company to report a net loss of 31 cents per share.
The company does not have any approved products in its pipeline and therefore does not have any revenue, however the company reported a first quarter cash burn of $26.4 million and forecast full year cash burn guidance between $125 million and $150 million.
"I am pleased by our progress this quarter; we advanced a number of important priorities, strengthened our IP position by settling a dispute over a key patent, and we continued to make good progress across a number of clinical trials and research priorities," said Juno CEO Hans Bishop. "In addition to advancing our pipeline and internal research efforts this quarter, we completed a number of strategic transactions that further extend and expand our ability to develop and manufacture best in class therapies across a broad array of cancers."
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