Aerovate Therapeutics Inc. (AVTE) Financial Statements (2025 and earlier)

Company Profile

Business Address 930 WINTER STREET
WALTHAM, MA 02451
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 2834 - Pharmaceutical Preparations (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) (USD)

9/30/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:122,400,000129,200,000167,400,000
Cash and cash equivalents23,491,00022,397,00054,197,000
Short-term investments98,948,000106,823,000113,178,000
Other undisclosed cash, cash equivalents, and short-term investments(39,000)(20,000)25,000
Prepaid expense1,168,0001,503,0001,485,000
Debt securities, available-for-sale, accrued interest, after allowance for credit loss   
Other undisclosed current assets664,000793,0005,448,000
Total current assets:124,232,000131,496,000174,333,000
Noncurrent Assets
Operating lease, right-of-use asset614,0001,003,000542,000
Property, plant and equipment288,000242,000186,000
Other noncurrent assets2,284,0002,560,000302,000
Total noncurrent assets:3,186,0003,805,0001,030,000
TOTAL ASSETS:127,418,000135,301,000175,363,000
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities7,854,0004,646,0002,358,000
Employee-related liabilities790,000
Accounts payable2,396,0002,575,0001,208,000
Accrued liabilities5,458,0002,071,000360,000
Due to related parties 2,000
Other undisclosed current liabilities9,783,0003,136,000190,000
Total current liabilities:17,637,0007,782,0002,550,000
Noncurrent Liabilities
Long-term debt and lease obligation:   382,000
Liabilities, other than long-term debt255,000705,000 
Operating lease, liability255,000705,000382,000
Other undisclosed noncurrent liabilities70,00071,000(369,000)
Total noncurrent liabilities:325,000776,000395,000
Total liabilities:17,962,0008,558,0002,945,000
Equity
Equity, attributable to parent109,456,000126,743,000172,418,000
Common stock3,0002,0002,000
Additional paid in capital272,640,000215,110,000208,867,000
Accumulated other comprehensive income (loss)237,000(466,000)(59,000)
Accumulated deficit(163,424,000)(87,903,000)(36,392,000)
Total equity:109,456,000126,743,000172,418,000
TOTAL LIABILITIES AND EQUITY:127,418,000135,301,000175,363,000

Income Statement (P&L) (USD)

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
Operating expenses(81,409,000)(53,237,000)(23,022,000)
Operating loss:(81,409,000)(53,237,000)(23,022,000)
Nonoperating income5,944,0001,751,00062,000
Other nonoperating income5,944,0001,751,00062,000
Loss from continuing operations before income taxes:(75,465,000)(51,486,000)(22,960,000)
Income tax expense (56,000)(25,000)(3,000)
Other undisclosed loss from continuing operations   
Loss from continuing operations:(75,521,000)(51,511,000)(22,963,000)
Loss before gain (loss) on sale of properties:(22,963,000)
Net loss attributable to parent:(75,521,000)(51,511,000)(22,963,000)
Preferred stock dividends and other adjustments   22,000
Other undisclosed net loss available to common stockholders, basic   (44,000)
Net loss available to common stockholders, diluted:(75,521,000)(51,511,000)(22,985,000)

Comprehensive Income (USD)

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
Net loss:(75,521,000)(51,511,000)(22,963,000)
Comprehensive loss:(75,521,000)(51,511,000)(22,963,000)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent703,000(407,000)(59,000)
Comprehensive loss, net of tax, attributable to parent:(74,818,000)(51,918,000)(23,022,000)

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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