OncoMed Pharmaceuticals, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported total revenues of $7,849,000 against $6,213,000 a year ago. Loss from operations was $5,932,000 against $22,758,000 a year ago. Loss before income tax provision was $5,569,000 against $22,604,000 a year ago. Net loss was $5,574,000 against $22,608,000 a year ago. Net loss per common share basic and diluted were $0.15 against $0.61 a year ago.

For the year 2018, the company's current cash is estimated to be sufficient to fund operations through at least the third quarter of 2019, without taking into account future potential milestone or opt-in payments from its partners. The company estimates 2018 operating cash burn to be approximately $55 million, before considering potential milestone or opt-in payments.