Shares of Autolus Therapeutics PLC (NASDAQ: AUTL) plummeted 5.15% in pre-market trading on Thursday following the release of 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, reported a wider-than-expected loss for the fourth quarter. Autolus posted a GAAP earnings per share (EPS) loss of $0.86, 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.

For the full year 2024, Autolus 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 company's expenses also saw a substantial increase, with research and development costs rising to $138.4 million from $130.5 million, and selling, general and administrative expenses more than doubling to $101.1 million from $46.7 million. This surge in expenses was primarily attributed to increased headcount supporting U.S. commercialization activities for AUCATZYL.

Despite the disappointing financial results, 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.

Dr. Christian Itin, Chief Executive Officer of Autolus, commented on the results, stating, "Reflecting on 2024, it was a year of strong execution leading to significant achievements for Autolus, including our strategic deal with BioNTech and corresponding financing to bolster our balance sheet, commencing GMP operations at our in-house CAR T manufacturing facility, and finishing the year with our first FDA approval and the commercial launch of AUCATZYL(R)."

While investors appear to be focusing on the wider-than-expected loss and increased expenses, Autolus maintains a strong cash position. The company reported cash, cash equivalents, and marketable securities totaling $588.0 million as of December 31, 2024, which it believes 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.