Aduro BioTech, Inc. ADRO reported a loss of 45 cents per share in the first quarter of 2016, wider than the Zacks Consensus Estimate of a loss of 30 cents but narrower than the year-ago loss of $39.97.Since Aduro does not have any approved product in its portfolio yet, the company’s top line solely comprises collaboration, license and grant revenues.Quarter in DetailQuarterly revenues were down 58.3% year over year to $4 million, primarily due to deferred revenues from the company’s collaboration agreement with Johnson & Johnson’s JNJ Janssen Biotech, Inc. Revenues were also below the Zacks Consensus Estimate of $13.5 million.Research and development (R&D) expenses escalated 97.2% to $20.9 million, primarily due to manufacturing costs related to the ongoing studies and personnel expenses.General and administrative (G&A) expenses were $9 million, up 45.2% year over year.Pipeline UpdateMeanwhile, Aduro is progressing with the candidates in its pipeline. Currently, the company is evaluating CRS-207, in combination with GVAX Pancreas, in two phase IIb studies – ECLIPSE and STELLAR – in patients with metastatic pancreatic cancer. The company expects to present top-line data from the ECLIPSE study in the second quarter of 2016 and interim data from the STELLAR study in the second half of the year.Our TakeAduro’s first-quarter results were disappointing with the company reporting a wider-than-expected loss and revenues lagging estimates. However, we are positive on the company’s collaboration with Janssen Biotech, which should drive revenues in the form of milestone payment. With a number of data readouts lined up for the coming quarters, we expect investors to focus on the company’s pipeline updates, going forward.Aduro currently has a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the health care sector are Aegerion Pharmaceuticals, Inc. AEGR and Gilead Sciences Inc. GILD, both sporting a Zacks Rank #1 (Strong Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JOHNSON & JOHNS (JNJ): Free Stock Analysis Report GILEAD SCIENCES (GILD): Free Stock Analysis Report AEGERION PHARMA (AEGR): Free Stock Analysis Report ADURO BIOTECH (ADRO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research