Aerovate Therapeutics Inc. (AVTE) Financial Statements (2024 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)

12/31/2023
12/31/2022
12/31/2021
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:129,200,000167,400,000
Cash and cash equivalents22,397,00054,197,000
Short-term investments106,823,000113,178,000
Other undisclosed cash, cash equivalents, and short-term investments(20,000)25,000
Prepaid expense1,503,0001,485,000
Other undisclosed current assets793,0005,448,000
Total current assets:131,496,000174,333,000
Noncurrent Assets
Operating lease, right-of-use asset1,003,000542,000
Property, plant and equipment242,000186,000
Other noncurrent assets2,560,000302,000
Total noncurrent assets:3,805,0001,030,000
TOTAL ASSETS:135,301,000175,363,000
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities4,646,0002,358,000
Employee-related liabilities790,000
Accounts payable2,575,0001,208,000
Accrued liabilities2,071,000360,000
Due to related parties 2,000
Other undisclosed current liabilities3,136,000190,000
Total current liabilities:7,782,0002,550,000
Noncurrent Liabilities
Long-term debt and lease obligation:  382,000
Liabilities, other than long-term debt705,000 
Operating lease, liability705,000382,000
Other undisclosed noncurrent liabilities71,000(369,000)
Total noncurrent liabilities:776,000395,000
Total liabilities:8,558,0002,945,000
Equity
Equity, attributable to parent126,743,000172,418,000
Common stock2,0002,000
Additional paid in capital215,110,000208,867,000
Accumulated other comprehensive income (loss)(466,000)(59,000)
Accumulated deficit(87,903,000)(36,392,000)
Total equity:126,743,000172,418,000
TOTAL LIABILITIES AND EQUITY:135,301,000175,363,000

Income Statement (P&L) (USD)

12/31/2023
12/31/2022
12/31/2021
Operating expenses(53,237,000)(23,022,000)
Operating loss:(53,237,000)(23,022,000)
Nonoperating income
(Other Nonoperating income)
1,751,00062,000
Loss from continuing operations before income taxes:(51,486,000)(22,960,000)
Income tax expense(25,000)(3,000)
Loss from continuing operations:(51,511,000)(22,963,000)
Loss before gain (loss) on sale of properties:(22,963,000)
Net loss attributable to parent:(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:(51,511,000)(22,985,000)

Comprehensive Income (USD)

12/31/2023
12/31/2022
12/31/2021
Net loss:(51,511,000)(22,963,000)
Comprehensive loss:(51,511,000)(22,963,000)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(407,000)(59,000)
Comprehensive loss, net of tax, attributable to parent:(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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