Argos Therapeutics Inc. announced a third-quarter loss on Monday that met analysts’ estimates, but revenue fell short of expectations, according to a filing with the Securities and Exchange Commission.

Argos reported a net loss for the quarter of 32 cents per share, compared to a loss of 97 cents for the same period in 2015. Analysts surveyed by Zacks Investment Research had also expected a loss of 32 cents per share.

However, the company posted revenue of $146,756 for the quarter that fell short of analysts’ forecasts, which were closer to $400,000. The same period last year Argos reported revenue of $158,349.

Argos stock, traded on the NASDAQ under the ticker symbol “ARGS,” will open at $4.80 on Monday and was seen trading up as much as 4 percent in early hours. One year ago, shares were trading at $4.31.

“During the third quarter, we further strengthened our management team and financial position,” Jeff Abbey, president and chief executive officer, said in a statement. Abbey highlighted the fact that Dr. Richard Katz joined the company as chief financial officer in July, and he has “already played an instrumental role by driving the most recent financing, in which [Argos] raised gross proceeds of $50 million.”

Argos also added in its press release that research and development expenses for the quarter totaled $9.3 million, far less than its expenses of $17.2 million for the third quarter in 2015.

Durham-based Argos is an immuno-oncology company focused on the development and commercialization of individualized immunotherapies, which are used for the treatment of cancer. According to its website, the company has developed a pipeline of products based on its proprietary “Arcelis technology platform.”

The complete third-quarter earnings report and press release can be found here.