Exscientia Q1 Loss Widens, Stock Down

(RTTNews) - Exscientia plc (EXAI), an AI-driven precision medicine company, Wednesday, reported a wider loss for the first quarter, on increased research and development expenses and lower revenues.

The first-quarter loss widened to $46.6 million or $0.38 per share from $19.1 million or $0.16 per share of last year.

Revenue decreased to $7.1 million from $8.6 million last year.

R&D expenses increased to $41.3 million from $28.9 million of previous year, impacted by growth of the internal and co-owned portfolio, increased headcount and increased depreciation charges arising from continued investment into laboratory equipment.

Currently, shares of Exscientia are trading at $7.47 down 1.84% or $0.14 on the Nasdaq.