$ADVM
Adverum Biotechnologies, Inc.

2014 Q3 Form 10-Q Financial Statement

#000119312514339410 Filed on September 12, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2013 Q4
Revenue $204.0K $135.0K $0.00
YoY Change 580.0% -10.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.400M $1.490M $1.190M
YoY Change 823.08% 684.21%
% of Gross Profit
Research & Development $5.746M $3.094M $740.0K
YoY Change 944.73% 368.08%
% of Gross Profit
Depreciation & Amortization $50.00K $20.00K $10.00K
YoY Change 400.0% 100.0%
% of Gross Profit
Operating Expenses $8.144M $4.588M $1.929M
YoY Change 907.92% 436.61%
Operating Profit -$7.940M -$4.453M
YoY Change 920.57% 531.63%
Interest Expense -$290.0K $4.000K -$80.00K
YoY Change -1135.71% -80.0%
% of Operating Profit
Other Income/Expense, Net -$316.0K -$641.0K -$10.00K
YoY Change 802.86% 3906.25%
Pretax Income -$8.260M -$5.090M -$3.690M
YoY Change 919.75% 606.94%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$8.256M -$5.094M -$3.693M
YoY Change 915.5% 606.52%
Net Earnings / Revenue -4047.06% -3773.33%
Basic Earnings Per Share
Diluted Earnings Per Share -$504.0K -$238.3K -$49.59K
COMMON SHARES
Basic Shares Outstanding 22.26M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2014 Q2 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $165.3M $52.40M $600.0K
YoY Change
Cash & Equivalents $165.3M $52.43M $564.0K
Short-Term Investments
Other Short-Term Assets $1.000M $500.0K $300.0K
YoY Change
Inventory
Prepaid Expenses
Receivables $8.000K $8.000K $8.000K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $166.3M $52.90M $822.0K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $817.0K $509.0K $69.00K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $89.00K $1.376M $194.0K
YoY Change
Total Long-Term Assets $906.0K $1.885M $263.0K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $166.3M $52.90M $822.0K
Total Long-Term Assets $906.0K $1.885M $263.0K
Total Assets $167.2M $54.79M $1.085M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.627M $1.576M $769.0K
YoY Change
Accrued Expenses $2.000M $1.600M $400.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.461M $3.991M $1.162M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $600.0K $100.0K
YoY Change
Other Long-Term Liabilities $7.000M $7.200M $100.0K
YoY Change
Total Long-Term Liabilities $7.000M $7.800M $200.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.461M $3.991M $1.162M
Total Long-Term Liabilities $7.000M $7.800M $200.0K
Total Liabilities $11.50M $11.75M $1.303M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$26.32M -$18.07M -$8.869M
YoY Change
Common Stock $2.000K $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $155.7M -$16.51M -$8.210M
YoY Change
Total Liabilities & Shareholders Equity $167.2M $54.79M $1.085M
YoY Change

Cashflow Statement

Concept 2014 Q3 2014 Q2 2013 Q4
OPERATING ACTIVITIES
Net Income -$8.256M -$5.094M -$3.693M
YoY Change 915.5% 606.52%
Depreciation, Depletion And Amortization $50.00K $20.00K $10.00K
YoY Change 400.0% 100.0%
Cash From Operating Activities -$4.970M $5.730M -$730.0K
YoY Change 742.37% -895.83%
INVESTING ACTIVITIES
Capital Expenditures -$110.0K -$420.0K -$10.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$110.0K -$420.0K -$10.00K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 118.0M 46.96M 980.0K
YoY Change 16755.71% 9292.0%
NET CHANGE
Cash From Operating Activities -4.970M 5.730M -730.0K
Cash From Investing Activities -110.0K -420.0K -10.00K
Cash From Financing Activities 118.0M 46.96M 980.0K
Net Change In Cash 112.9M 52.27M 240.0K
YoY Change 102545.45% -23859.09%
FREE CASH FLOW
Cash From Operating Activities -$4.970M $5.730M -$730.0K
Capital Expenditures -$110.0K -$420.0K -$10.00K
Free Cash Flow -$4.860M $6.150M -$720.0K
YoY Change 723.73% -954.17%

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P3Y
CY2014Q2 aavl Potential Milestone Payments
PotentialMilestonePayments
640000000
CY2014Q2 aavl Contingent Payments Received
ContingentPaymentsReceived
80000000
CY2013 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0
CY2013 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2013 aavl Changes Of Control Percentage Of Principal Amount
ChangesOfControlPercentageOfPrincipalAmount
0.05 pure
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
3672885 shares
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.20
CY2013Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7857948 shares
CY2013Q2 us-gaap Revenue From Grants
RevenueFromGrants
150000
CY2013Q2 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
6000
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-705000
CY2013Q2 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
100000
CY2013Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-736000
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-721000
CY2013Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
119000
CY2013Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6000
CY2013Q2 us-gaap Revenues
Revenues
150000
CY2013Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-16000
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-721000
CY2013Q2 us-gaap Interest Expense
InterestExpense
20000
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
855000
CY2013Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
661000
CY2013Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
8000
CY2013Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
7000
CY2013Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
15000
CY2013Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
194000
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
3672885 shares
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.27
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15718758 shares
CY2014Q2 us-gaap License And Services Revenue
LicenseAndServicesRevenue
135000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-4453000
CY2014Q2 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
50000
CY2014Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-5095000
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-641000
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000
CY2014Q2 us-gaap Revenues
Revenues
135000
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8324000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-5094000
CY2014Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-204000
CY2014Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1271000
CY2014Q2 us-gaap Interest Expense
InterestExpense
4000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
4588000
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3094000
CY2014Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3230000
CY2014Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
432000
CY2014Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
25000
CY2014Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
1000
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1494000

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