$ACRV
Acrivon Therapeutics, Inc.

2023 Q4 Form 10-Q Financial Statement

#000095017023061553 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.575M $5.870M
YoY Change 36.54% 259.46%
% of Gross Profit
Research & Development $15.48M $10.27M
YoY Change 164.04% 29.31%
% of Gross Profit
Depreciation & Amortization $146.0K $100.0K
YoY Change 16.8% 0.0%
% of Gross Profit
Operating Expenses $21.05M $16.14M
YoY Change 111.69% 68.53%
Operating Profit -$16.14M
YoY Change 68.53%
Interest Expense $1.768M
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.801M $1.671M
YoY Change 77.26% 343.24%
Pretax Income -$19.25M -$14.47M
YoY Change 115.61% 57.32%
Income Tax
% Of Pretax Income
Net Earnings -$19.25M -$14.47M
YoY Change 115.61% 57.27%
Net Earnings / Revenue
Basic Earnings Per Share -$0.66
Diluted Earnings Per Share -$0.86 -$0.66
COMMON SHARES
Basic Shares Outstanding 22.19M 22.07M
Diluted Shares Outstanding 22.08M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $127.5M $142.1M
YoY Change -0.23% 84.97%
Cash & Equivalents $36.02M $29.86M
Short-Term Investments $91.44M $112.2M
Other Short-Term Assets $2.234M $2.400M
YoY Change -48.57% 29.8%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $129.7M $144.5M
YoY Change -1.82% 83.66%
LONG-TERM ASSETS
Property, Plant & Equipment $7.908M $2.003M
YoY Change 278.01% -6.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00
YoY Change -100.0%
Other Assets $665.0K $400.0K
YoY Change 71.39% -79.3%
Total Long-Term Assets $8.573M $6.600M
YoY Change -82.55% -27.0%
TOTAL ASSETS
Total Short-Term Assets $129.7M $144.5M
Total Long-Term Assets $8.573M $6.600M
Total Assets $138.3M $151.1M
YoY Change -23.71% 72.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.048M $1.504M
YoY Change 458.41% -23.89%
Accrued Expenses $8.255M $7.800M
YoY Change 48.93% 76.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.30M $9.299M
YoY Change 104.16% 45.5%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.767M $3.600M
YoY Change -11.05% -18.55%
Total Long-Term Liabilities $3.767M $3.600M
YoY Change -11.05% -18.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.30M $9.299M
Total Long-Term Liabilities $3.767M $3.600M
Total Liabilities $17.07M $12.94M
YoY Change 58.78% 19.72%
SHAREHOLDERS EQUITY
Retained Earnings -$116.4M -$97.20M
YoY Change 107.86% 106.37%
Common Stock $23.00K $22.00K
YoY Change 4.55% 1000.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $121.2M $138.1M
YoY Change
Total Liabilities & Shareholders Equity $138.3M $151.1M
YoY Change -23.71% 72.26%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$19.25M -$14.47M
YoY Change 115.61% 57.27%
Depreciation, Depletion And Amortization $146.0K $100.0K
YoY Change 16.8% 0.0%
Cash From Operating Activities -$12.36M -$9.810M
YoY Change 32.15% 50.44%
INVESTING ACTIVITIES
Capital Expenditures $1.148M $0.00
YoY Change 357.37% -100.0%
Acquisitions
YoY Change
Other Investing Activities $21.69M $1.520M
YoY Change -122.87% -103.4%
Cash From Investing Activities $20.54M $1.510M
YoY Change -121.6% -103.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.014M 80.00K
YoY Change -101.98% -157.14%
NET CHANGE
Cash From Operating Activities -12.36M -9.810M
Cash From Investing Activities 20.54M 1.510M
Cash From Financing Activities -2.014M 80.00K
Net Change In Cash 6.162M -8.220M
YoY Change -340.61% -84.13%
FREE CASH FLOW
Cash From Operating Activities -$12.36M -$9.810M
Capital Expenditures $1.148M $0.00
Free Cash Flow -$13.51M -$9.810M
YoY Change 40.65% 41.21%

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acrv Purchases Of Property And Equipment Included In Accounts Payable And Accrued Expenses
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedExpenses
161000
acrv Purchases Of Property And Equipment Included In Accounts Payable And Accrued Expenses
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedExpenses
185000
acrv Deferred Offering Costs In Accounts Payable And Accrued Expenses
DeferredOfferingCostsInAccountsPayableAndAccruedExpenses
1369000
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
29859000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32080000
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
411000
CY2022Q3 us-gaap Restricted Cash
RestrictedCash
388000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30270000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32468000
us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1. Nature of the Business</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Acrivon Therapeutics, Inc., (the “Company”) is a clinical stage biopharmaceutical company developing oncology medicines that the Company matches to patients whose tumors are predicted to be sensitive to each specific medicine by utilizing its proteomics-based patient responder identification platform. The Company’s pipeline includes the Phase 2 lead program, ACR-368, referred to as prexasertib, a precision oncology asset, as well as ACR-2316, a selective, dual WEE1/PKMYT1 inhibitor, and additional programs targeting these two critical nodes in the DNA Damage Response, or DDR, pathways.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company was incorporated in March 2018 under the laws of the state of Delaware, and its principal offices are in Watertown, Massachusetts. Also in March 2018, the Company formed Acrivon AB, a wholly-owned subsidiary of the Company, established in Lund, Sweden. In December 2021, the Company formed Acrivon Securities Corporation, a wholly-owned subsidiary, established in Massachusetts.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Liquidity</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As an emerging growth entity, the Company has devoted substantially all of its resources since inception to organizing and staffing the Company, business planning, raising capital, establishing its intellectual property portfolio, acquiring or internally discovering drug candidates, research and development activities for the Company's lead candidate ACR-368, for the Company's internally discovered development candidate ACR-2316, and other compounds, establishing arrangements with third parties for the manufacture of its drug candidates and component materials, and providing general and administrative support for these operations. As a result, the Company has incurred significant operating losses and negative cash flows from operations since its inception and anticipates such losses and negative cash flows will continue for the foreseeable future.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company has incurred recurring losses since its inception, including net losses of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">41.1</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million and $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">22.2</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million for the nine months ended September 30, 2023, and 2022, respectively. As of September 30, 2023 and December 31, 2022 the Company had an accumulated deficit of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">97.2</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million and $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">56.0</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million, respectively. To date, the Company has not generated any revenues and expects to continue generating operating losses for the foreseeable future as it continues to expand its research and development efforts.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Since its inception, the Company has funded its operations primarily with proceeds from the sales of shares of its convertible preferred stock and the issuance of convertible notes, and most recently, through an initial public offering (“IPO”) and concurrent private placement. Upon the closing of the Company’s IPO on November 17, 2022, only common stock remains issued and outstanding.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company expects that its existing cash, cash equivalents and investments of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">142.1</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million as of September 30, 2023, will be sufficient to fund its operating expenses and capital expenditure requirements for at least 12 months from the date these condensed consolidated financial statements were issued.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company will need additional funding to support its planned operating activities. There can be no assurances, however, that the current operating plan will be achieved or that additional funding will be available on terms acceptable to the Company, or at all, considering the current interest rate environment. If the Company is unable to obtain sufficient funding, it could be required to delay its development efforts, limit activities and reduce research and development costs, which could adversely affect its business prospects.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Initial Public Offering, Reverse Stock Split and Concurrent Private Placement</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On November 17, 2022, the Company closed its IPO, pursuant to which it issued and sold </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">7,550,000</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of its common stock at a public offering price of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">12.50</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share for gross proceeds of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">94.4</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million. In connection with the IPO, the Company granted the underwriters a 30-day option to purchase </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1,132,500</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> additional shares of common stock. On December 14, 2022, the underwriters partially exercised the option to purchase </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1,035,540</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> additional shares. The sale pursuant to the exercise of the underwriters’ option to purchase additional shares closed on December 16, 2022, upon which the Company issued </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1,035,540</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of common stock for gross proceeds of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">12.9</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million. The Company received aggregate net proceeds from the IPO, including the exercise by the underwriters of their option to purchase additional shares, of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">99.8</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million, after deducting underwriting discounts and commissions of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">7.5</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million, but before deducting offering expenses payable by the Company of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">3.6</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In connection with the IPO, the Company effected a </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="-sec-ix-hidden:F_d717c40f-c946-4eb8-ae39-60f51ecf918a;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1-for-2.466</span></span></span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> reverse stock split of the Company’s common stock and adjusted the ratio at which the Company’s preferred stock is convertible into common stock, the number of shares available for issuance under the 2019 Stock Incentive Plan (“2019 Plan”) and the number of options and exercise prices of options granted under the 2019 Plan as a result of the </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="-sec-ix-hidden:F_6039a6d4-b96c-4fe0-8db3-82ae4cffa5fc;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1-for-2.466</span></span></span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> reverse stock split.</span></span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Accordingly, </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">all common shares, stock options, and per share information presented in the</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">accompanying </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">condensed consolidated financial statements and notes thereto have been adjusted, where applicable, to reflect the reverse stock split on a retroactive basis for all periods presented. The per share par value and authorized number of shares of the Company’s common stock were not adjusted as a result of the reverse stock split.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Upon the closing of the IPO, all of the Company's then-outstanding shares of convertible preferred stock converted into </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">11,140,262</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of common stock at the applicable conversion ratio then in effect. Subsequent to the closing of the IPO, there were </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of convertible preferred stock outstanding.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company also completed a private placement which closed concurrently with the IPO, in which the Company issued and sold </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">400,000</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of its common stock at $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">12.50</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> per share to Chione Limited, an existing investor of the Company (the “Concurrent Private Placement”). The Company received aggregate net proceeds of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">4.7</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million from the Concurrent Private Placement, after deducting the placement agent fee.</span></p>
us-gaap Net Income Loss
NetIncomeLoss
-41100000
us-gaap Net Income Loss
NetIncomeLoss
-22200000
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2023Q3 acrv Cash Cash Equivalents And Investments
CashCashEquivalentsAndInvestments
142100000
CY2022Q4 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
4700000
CY2023Q3 us-gaap Change In Accounting Principle Accounting Standards Update Adopted
ChangeInAccountingPrincipleAccountingStandardsUpdateAdopted
true
CY2023Q3 us-gaap Change In Accounting Principle Accounting Standards Update Adoption Date
ChangeInAccountingPrincipleAccountingStandardsUpdateAdoptionDate
2023-01-01
CY2023Q3 us-gaap Change In Accounting Principle Accounting Standards Update Immaterial Effect
ChangeInAccountingPrincipleAccountingStandardsUpdateImmaterialEffect
true
CY2023Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
112533000
CY2023Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
3000
CY2023Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
305000
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
112231000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
140208000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
71000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
166000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
140113000
acrv Available For Sale Debt Securities Contractual Maturities Short Term
AvailableForSaleDebtSecuritiesContractualMaturitiesShortTerm
P1Y
CY2022 acrv Available For Sale Debt Securities Contractual Maturities Short Term
AvailableForSaleDebtSecuritiesContractualMaturitiesShortTerm
P1Y
CY2023Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
86600000
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-300000
CY2022Q4 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-200000
CY2023Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0
CY2023Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
acrv Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Between Levels
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0
CY2022 acrv Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Between Levels
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersBetweenLevels
0
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2810000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2512000
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
807000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
420000
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2003000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2092000
CY2023Q3 us-gaap Depreciation
Depreciation
100000
CY2022Q3 us-gaap Depreciation
Depreciation
100000
us-gaap Depreciation
Depreciation
400000
us-gaap Depreciation
Depreciation
200000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
286000
us-gaap Operating Lease Cost
OperatingLeaseCost
857000
us-gaap Operating Lease Cost
OperatingLeaseCost
857000
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
152000
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
130000
us-gaap Variable Lease Cost
VariableLeaseCost
400000
us-gaap Variable Lease Cost
VariableLeaseCost
393000
CY2022Q3 us-gaap Sublease Income
SubleaseIncome
134000
us-gaap Sublease Income
SubleaseIncome
134000
CY2023Q3 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
3007000
CY2022Q4 us-gaap Accrued Employee Benefits Current
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2662000
CY2023Q3 acrv Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
2918000
CY2022Q4 acrv Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
790000
CY2023Q3 us-gaap Accrued Professional Fees Current
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916000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
648000
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
178000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
44000
CY2022Q4 acrv Accrued Offering Costs
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673000
CY2022Q4 acrv Deferred Sublease Income Current
DeferredSubleaseIncomeCurrent
69000
CY2023Q3 us-gaap Accrued Liabilities And Other Liabilities
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7019000
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
4886000
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4186000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4770000
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4186000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4770000
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
776000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
726000
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3644000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4235000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
4420000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
4961000
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
286000
us-gaap Sublease Income
SubleaseIncome
403000
CY2023Q3 us-gaap Lease Cost
LeaseCost
438000
CY2022Q3 us-gaap Lease Cost
LeaseCost
282000
us-gaap Lease Cost
LeaseCost
1123000
us-gaap Lease Cost
LeaseCost
847000
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y7M6D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y3M18D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0787
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0786
us-gaap Operating Lease Payments
OperatingLeasePayments
800000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
269000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1098000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1131000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1165000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1200000
CY2023Q3 acrv Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
404000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5267000
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
847000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
4420000
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q3 acrv Options To Purchase Common Stock
OptionsToPurchaseCommonStock
3196965
CY2022Q4 acrv Options To Purchase Common Stock
OptionsToPurchaseCommonStock
3300935
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
2338132
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1787152
CY2023Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
1867783
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
733636
CY2023Q3 acrv Reserved Shares
ReservedShares
7402880
CY2022Q4 acrv Reserved Shares
ReservedShares
5821723
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0396
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0462
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0294
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.034
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0462
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0269
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0316
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.8163
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.8293
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.8249
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.8254
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.8163
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.8355
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.7106
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.8254
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.07
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3300935
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.29
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y3M3D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
18346000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
236393
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
12.11
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
183927
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.49
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
156436
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
5.53
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3196965
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.97
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M25D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
12146000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
3196965
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
6.97
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y3M25D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
12146000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1028513
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
2.85
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y3D
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
7005000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3228000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
267000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8560000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
540000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-14466000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-9198000
us-gaap Net Income Loss
NetIncomeLoss
-41136000
us-gaap Net Income Loss
NetIncomeLoss
-22238000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22081162
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22081162
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1778255
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1778255
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21991509
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21991509
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1772491
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1772491
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.66
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.66
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.17
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.17
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.87
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.87
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-12.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-12.55

Files In Submission

Name View Source Status
acrv-20230930_cal.xml Edgar Link unprocessable
acrv-20230930_def.xml Edgar Link unprocessable
acrv-20230930_lab.xml Edgar Link unprocessable
0000950170-23-061553-index-headers.html Edgar Link pending
0000950170-23-061553-index.html Edgar Link pending
0000950170-23-061553.txt Edgar Link pending
0000950170-23-061553-xbrl.zip Edgar Link pending
acrv-20230930.htm Edgar Link pending
acrv-20230930.xsd Edgar Link pending
acrv-ex31_1.htm Edgar Link pending
acrv-ex31_2.htm Edgar Link pending
acrv-ex32_1.htm Edgar Link pending
acrv-ex32_2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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acrv-20230930_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
acrv-20230930_htm.xml Edgar Link completed
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