Shares of Autolus Therapeutics PLC (AUTL) tumbled 5.12% in pre-market trading on Thursday after the company reported its fourth quarter and full-year 2024 financial results, which fell short of analyst expectations.

The biopharmaceutical company, which recently launched its FDA-approved CAR-T therapy AUCATZYL, posted a wider net loss for the year ended December 31, 2024. The company reported a net loss of $220.7 million, or $0.86 per share, compared to a net loss of $208.4 million, or $1.20 per share, in the previous year. The Q4 GAAP EPS of $(0.86) missed the analyst estimate of $(0.20) by a significant margin.

Despite the increased losses, Autolus highlighted several positive developments in its business update. The company reported progress in the U.S. commercial launch of AUCATZYL, with 33 authorized treatment centers as of March 19, 2025, surpassing its initial target. Additionally, Autolus secured coverage for over 85% of total U.S. medical lives, indicating strong potential for market penetration. The company also noted advancements in its pipeline, including the dosing of initial patients in a Phase 1 trial for Systemic Lupus Erythematosus (SLE).

However, investors seem to be focusing on the increased expenses and widening losses. The company's research and development expenses rose to $138.4 million from $130.5 million in the previous year, while selling, general and administrative expenses more than doubled to $101.1 million from $46.7 million, primarily due to increased headcount supporting U.S. commercialization activities.

Despite the negative market reaction, Autolus maintains a strong cash position, with cash, cash equivalents, and marketable securities totaling $588.0 million as of December 31, 2024. The company believes this capital is sufficient to drive the launch and commercialization of AUCATZYL in r/r adult B-ALL across the U.S., UK, and EU, as well as to advance its pipeline development plans.