Adverum Biotechnologies, Inc. (ADVM) Financial Statements (2024 and earlier)

Company Profile

Business Address 100 CARDINAL WAY
REDWOOD CITY, CA 94063
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 2836 - Biological Products, Except Diagnostic Substances (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:185,600305,200429,729166,035205,079190,485
Cash and cash equivalents68,43134,19562,42465,897154,94970,519
Short-term investments117,158270,993367,305100,13850,130119,966
Other undisclosed cash, cash equivalents, and short-term investments1112    
Other undisclosed current assets4,99511,9454,7099,8353,6753,256
Total current assets:190,595317,145434,438175,870208,754193,741
Noncurrent Assets
Operating lease, right-of-use asset78,93486,00019,37620,963
Property, plant and equipment34,92733,06027,72524,8843,5863,024
Intangible assets, net (including goodwill)      5,000
Intangible assets, net (excluding goodwill)      5,000
Restricted cash and investments2,5032,503999999999 
Other noncurrent assets1,4132502911156140
Other undisclosed noncurrent assets  769    
Total noncurrent assets:117,777122,58248,12946,8574,7418,164
TOTAL ASSETS:308,372439,727482,567222,727213,495201,905
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities12,15114,48113,55413,4018,6416,530
Taxes payable1,318    
Employee-related liabilities9,2098,3444,0552,9442,259
Accounts payable2,2381,3872,8104,1031,7071,731
Accrued liabilities9,9132,5672,4005,2433,9902,540
Debt   4,4734,034  
Deferred rent credit     228
Deferred revenue and credits1,979
Other undisclosed current liabilities20,0956,8392,8441,9731,8502,165
Total current liabilities:32,24621,32020,87119,40810,71910,674
Noncurrent Liabilities
Long-term debt and lease obligation:  101,10826,23528,214  
Liabilities, other than long-term debt94,6081,1141,1141481,6095,953
Deferred revenue and credits5,472
Deferred rent credit     1,366
Other liabilities 1,0471,1141,114148243481
Operating lease, liability93,561101,10826,23528,214
Other undisclosed noncurrent liabilities      1,250
Total noncurrent liabilities:94,608102,22227,34928,3621,6097,203
Total liabilities:126,854123,54248,22047,77012,32817,877
Equity
Equity, attributable to parent181,518316,185434,347174,957201,167184,028
Common stock101010765
Additional paid in capital985,651964,965937,134560,704522,503439,048
Accumulated other comprehensive loss(1,531)(714)(261)(725)(799)(963)
Accumulated deficit(802,612)(648,076)(502,536)(385,029)(320,543)(254,062)
Total equity:181,518316,185434,347174,957201,167184,028
TOTAL LIABILITIES AND EQUITY:308,372439,727482,567222,727213,495201,905

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues 7,500 2501,6121,849
Revenue, net1,849
Sublease income(300)1,200  
Cost of revenue
(Cost of Goods and Services Sold)
     (100)(500)
Gross profit: 7,500 2501,5121,349
Operating expenses(157,135)(153,622)(117,950)(68,795)(79,693)(60,696)
Other undisclosed operating income (loss)300   100500
Operating loss:(157,135)(146,122)(117,950)(68,545)(78,081)(58,847)
Nonoperating income2,6735821,5574,0594,2042,700
Loss, foreign currency transaction, before tax   (342)   
Other nonoperating income     4,2042,700
Loss from continuing operations before income taxes:(154,462)(145,540)(116,393)(64,486)(73,877)(56,147)
Income tax expense (benefit)(74) (1,114) 1,250 
Loss from continuing operations:(154,536)(145,540)(117,507)(64,486)(72,627)(56,147)
Loss before gain (loss) on sale of properties:(145,540)(117,507)(64,486)(72,627)(56,147)
Net loss available to common stockholders, diluted:(154,536)(145,540)(117,507)(64,486)(72,627)(56,147)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net loss:(154,536)(145,540)(117,507)(64,486)(72,627)(56,147)
Comprehensive loss:(154,536)(145,540)(117,507)(64,486)(72,627)(56,147)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(817)(453)46474164(956)
Comprehensive loss, net of tax, attributable to parent:(155,353)(145,993)(117,043)(64,412)(72,463)(57,103)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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