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)

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:150,100,000118,900,000129,200,000142,600,000152,000,000161,100,000
Cash and cash equivalents60,901,00026,571,00022,397,00022,419,00027,457,00028,137,000
Short-term investments89,195,00092,358,000106,823,000120,159,000124,531,000132,935,000
Other undisclosed cash, cash equivalents, and short-term investments4,000(29,000)(20,000)22,00012,00028,000
Prepaid expense2,185,0001,114,0001,503,0002,115,000415,000896,000
Other undisclosed current assets185,000555,000793,000441,0001,034,0003,889,000
Total current assets:152,470,000120,569,000131,496,000145,156,000153,449,000165,885,000
Noncurrent Assets
Operating lease, right-of-use asset811,000908,0001,003,0001,094,0001,188,000499,000
Property, plant and equipment245,000267,000242,000330,000316,000288,000
Other noncurrent assets2,229,0002,649,0002,560,0001,076,000731,000327,000
Total noncurrent assets:3,285,0003,824,0003,805,0002,500,0002,235,0001,114,000
TOTAL ASSETS:155,755,000124,393,000135,301,000147,656,000155,684,000166,999,000
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities7,637,0005,997,0004,646,0007,079,0003,782,0004,897,000
Employee-related liabilities1,142,000373,000387,000
Accounts payable5,529,0004,726,0002,575,0004,541,0002,068,0002,863,000
Accrued liabilities2,108,0001,271,0002,071,0001,396,0001,341,0001,647,000
Other undisclosed current liabilities5,647,0004,640,0003,136,000626,000(26,000)(194,000)
Total current liabilities:13,284,00010,637,0007,782,0007,705,0003,756,0004,703,000
Noncurrent Liabilities
Long-term debt and lease obligation:    800,000862,000335,000
Liabilities, other than long-term debt476,000591,000705,000   
Operating lease, liability476,000591,000705,000800,000862,000335,000
Other undisclosed noncurrent liabilities69,00070,00071,000(787,000)(849,000)(321,000)
Total noncurrent liabilities:545,000661,000776,000813,000875,000349,000
Total liabilities:13,829,00011,298,0008,558,0008,518,0004,631,0005,052,000
Equity
Equity, attributable to parent141,926,000113,095,000126,743,000139,138,000151,053,000161,947,000
Common stock3,0002,0002,0002,0002,0002,000
Additional paid in capital265,594,000217,717,000215,110,000212,788,000211,129,000209,891,000
Accumulated other comprehensive loss(223,000)(201,000)(466,000)(771,000)(785,000)(644,000)
Accumulated deficit(123,448,000)(104,423,000)(87,903,000)(72,881,000)(59,293,000)(47,302,000)
Total equity:141,926,000113,095,000126,743,000139,138,000151,053,000161,947,000
TOTAL LIABILITIES AND EQUITY:155,755,000124,393,000135,301,000147,656,000155,684,000166,999,000

Income Statement (P&L) (USD)

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
Operating expenses(20,336,000)(17,639,000)(15,852,000)(14,152,000)(12,215,000)(11,019,000)
Operating loss:(20,336,000)(17,639,000)(15,852,000)(14,152,000)(12,215,000)(11,019,000)
Nonoperating income1,311,0001,119,000855,000564,000224,000109,000
Other nonoperating income (expense)(1,000)(1,000) 4,000224,000109,000
Loss from continuing operations before income taxes:(19,025,000)(16,520,000)(14,997,000)(13,588,000)(11,991,000)(10,910,000)
Other undisclosed loss from continuing operations   (25,000)   
Loss from continuing operations:(19,025,000)(16,520,000)(15,022,000)(13,588,000)(11,991,000)(10,910,000)
Loss before gain (loss) on sale of properties:(13,588,000)(11,991,000)(10,910,000)
Net loss available to common stockholders, diluted:(19,025,000)(16,520,000)(15,022,000)(13,588,000)(11,991,000)(10,910,000)

Comprehensive Income (USD)

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:(19,025,000)(16,520,000)(15,022,000)(13,588,000)(11,991,000)(10,910,000)
Comprehensive loss:(19,025,000)(16,520,000)(15,022,000)(13,588,000)(11,991,000)(10,910,000)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(22,000)265,000305,00014,000(141,000)(585,000)
Comprehensive loss, net of tax, attributable to parent:(19,047,000)(16,255,000)(14,717,000)(13,574,000)(12,132,000)(11,495,000)

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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