CAMBRIDGE, Mass. – Rubius Therapeutics Inc. posted a loss of $48.5 million for the first quarter of 2020, or a loss of 60 cents per diluted share, the company reported Monday.
The clinical-stage biopharmaceutical company, which has built a manufacturing facility in Smithfield, reported a loss of $32.6 million one year prior, or 42 cents per diluted share.
The company’s expenses for the quarter included $36.2 million for research and development and $12.7 million for general and administrative expenses.
Rubius Therapeutics said that cash, cash equivalents and investments at the end of the quarter totaled $241.4 million.
The company said that it has completed a strategic reprioritization of its pipeline to focus on oncology and autoimmune red cell therapeutic programs. Rubius Therapeutics said this was enabled by its investment in its Smithfield facility, which the company noted has remained in operation during the COVID-19 pandemic.
The company has yet to generate revenue.
