Autolus Therapeutics PLC (NASDAQ: AUTL) saw its shares plummet 5.12% in pre-market trading on Thursday following the release of its fourth quarter and full year 2024 financial results. The biopharmaceutical company, focused on developing next-generation programmed T cell therapies, reported a wider-than-expected loss for the quarter.

According to the company's earnings report, Autolus posted a GAAP earnings per share (EPS) loss of $0.86 for Q4 2024, significantly missing analysts' estimates of a $0.20 loss. This represents a considerable increase in losses compared to the same period in the previous year when the company reported a loss of $1.20 per share.

Despite the disappointing bottom line, Autolus highlighted several positive developments in its business update. The company reported progress in the U.S. commercial launch of AUCATZYL, its FDA-approved treatment for adult patients with relapsed or refractory B-cell acute lymphoblastic leukemia. As of March 19, 2025, 33 treatment centers have been authorized, surpassing the initial target of 30 by the end of Q1 2025. Additionally, Autolus noted that patient access to AUCATZYL is progressing well, with coverage secured for over 85% of total U.S. medical lives.

While investors appear to be focusing on the wider-than-expected loss, it's worth noting that Autolus ended the year with a strong cash position. The company reported cash, cash equivalents, and marketable securities totaling $588.0 million as of December 31, 2024, a significant increase from $239.6 million at the end of 2023. This improvement was primarily driven by proceeds from a strategic collaboration with BioNTech and concurrent equity financing.

As Autolus continues to navigate the challenges of commercializing its lead product and advancing its pipeline, investors will be closely watching the company's ability to narrow its losses and capitalize on the potential of its T cell therapy platform in the coming quarters.