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
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:141,500164,300185,600203,300235,800271,100
Cash and cash equivalents111,18767,55268,43184,43091,87089,652
Short-term investments30,26696,733117,158118,834143,971181,403
Other undisclosed cash, cash equivalents, and short-term investments47151136(41)45
Other undisclosed current assets5,6434,5734,9959,94310,2319,017
Total current assets:147,143168,873190,595213,243246,031280,117
Noncurrent Assets
Operating lease, right-of-use asset58,28769,50378,93479,88283,76684,874
Property, plant and equipment32,04133,34734,92736,57938,23337,223
Restricted cash and investments2,6502,5032,5032,5032,5032,503
Other noncurrent assets1,3081,3511,413155277220
Other undisclosed noncurrent assets     4,1452,457
Total noncurrent assets:94,286106,704117,777119,119128,924127,277
TOTAL ASSETS:241,429275,577308,372332,362374,955407,394
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities10,90911,73212,15119,71024,24715,632
Taxes payable3011781,432
Employee-related liabilities8,6048,1287,172
Accounts payable1,4182,8632,2388464,6983,245
Accrued liabilities9,4918,8699,9139,95911,2433,783
Other undisclosed current liabilities33,60934,74020,0958,9116,3737,605
Total current liabilities:44,51846,47232,24628,62130,62023,237
Noncurrent Liabilities
Long-term debt and lease obligation:    94,46499,193100,178
Liabilities, other than long-term debt65,75671,34894,6089401,0201,027
Other liabilities   1,0479401,0201,027
Operating lease, liability65,75671,34893,56194,46499,193100,178
Total noncurrent liabilities:65,75671,34894,60895,404100,213101,205
Total liabilities:110,274117,820126,854124,025130,833124,442
Equity
Equity, attributable to parent131,155157,757181,518208,337244,122282,952
Common stock101010101010
Additional paid in capital994,929990,214985,651980,156975,653970,349
Accumulated other comprehensive loss(606)(799)(1,531)(1,953)(1,796)(1,423)
Accumulated deficit(863,178)(831,668)(802,612)(769,876)(729,745)(685,984)
Total equity:131,155157,757181,518208,337244,122282,952
TOTAL LIABILITIES AND EQUITY:241,429275,577308,372332,362374,955407,394

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues 1,4003,600    
Sublease income 1,4001,400500(4,100)  
Gross profit: 1,4003,600    
Operating expenses(33,065)(33,839)(33,940)(41,037)(44,025)(38,133)
Other undisclosed operating income (loss) (1,400)  4,100  
Operating loss:(33,065)(30,239)(33,940)(41,037)(44,025)(38,133)
Nonoperating income1,5761,2001,223923283244
Loss from continuing operations before income taxes:(31,489)(29,039)(32,717)(40,114)(43,742)(37,889)
Income tax expense(21)(17)(19)(17)(19)(19)
Loss from continuing operations:(31,510)(29,056)(32,736)(40,131)(43,761)(37,908)
Loss before gain (loss) on sale of properties:(40,131)(43,761)(37,908)
Net loss available to common stockholders, diluted:(31,510)(29,056)(32,736)(40,131)(43,761)(37,908)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net loss:(31,510)(29,056)(32,736)(40,131)(43,761)(37,908)
Comprehensive loss:(31,510)(29,056)(32,736)(40,131)(43,761)(37,908)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent193732422(157)(373)(709)
Comprehensive loss, net of tax, attributable to parent:(31,317)(28,324)(32,314)(40,288)(44,134)(38,617)

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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