$ADVM
Adverum Biotechnologies, Inc.

2015 Q1 Form 10-K Financial Statement

#000119312515078923 Filed on March 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 2013 Q4
Revenue $203.0K $572.0K $0.00
YoY Change 576.67% 19.17%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.140M $8.000M $1.190M
YoY Change 467.12% 349.44%
% of Gross Profit
Research & Development $5.621M $16.98M $740.0K
YoY Change 517.69% 689.21%
% of Gross Profit
Depreciation & Amortization $120.0K $162.0K $10.00K
YoY Change 1100.0% 523.08%
% of Gross Profit
Operating Expenses $9.764M $24.97M $1.929M
YoY Change 496.82% 534.82%
Operating Profit -$9.561M -$24.40M
YoY Change 495.33% 606.49%
Interest Expense $0.00 $18.00K -$80.00K
YoY Change -100.0% -75.34%
% of Operating Profit
Other Income/Expense, Net $52.00K -$1.002M -$10.00K
YoY Change -191.23% -45.01%
Pretax Income -$9.510M -$25.40M -$3.690M
YoY Change 472.89% 381.5%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$9.509M -$25.40M -$3.693M
YoY Change 471.8% 381.5%
Net Earnings / Revenue -4684.24% -4441.26%
Basic Earnings Per Share
Diluted Earnings Per Share -$382.1K -$2.180M -$49.59K
COMMON SHARES
Basic Shares Outstanding 25.22M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2014 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $290.1M $159.4M $600.0K
YoY Change 144950.0% 26466.67%
Cash & Equivalents $201.8M $159.4M $564.0K
Short-Term Investments $88.30M
Other Short-Term Assets $1.000M $900.0K $300.0K
YoY Change 150.0% 200.0%
Inventory
Prepaid Expenses
Receivables $0.00 $8.000K
Other Receivables $0.00 $0.00
Total Short-Term Assets $291.1M $160.3M $822.0K
YoY Change 36291.5% 19937.5%
LONG-TERM ASSETS
Property, Plant & Equipment $1.421M $1.100M $69.00K
YoY Change 1321.0% 1000.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $138.0K $500.0K $194.0K
YoY Change -31.0% 150.0%
Total Long-Term Assets $1.559M $1.600M $263.0K
YoY Change 419.67% 433.33%
TOTAL ASSETS
Total Short-Term Assets $291.1M $160.3M $822.0K
Total Long-Term Assets $1.559M $1.600M $263.0K
Total Assets $292.7M $161.9M $1.085M
YoY Change 26508.27% 14618.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.787M $1.000M $769.0K
YoY Change 209.67% 25.0%
Accrued Expenses $2.500M $3.700M $400.0K
YoY Change 257.14% 825.0%
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 $7.628M $5.500M $1.162M
YoY Change 376.75% 358.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $100.0K
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $5.400M $7.000M $100.0K
YoY Change 5300.0% 6900.0%
Total Long-Term Liabilities $5.400M $7.000M $200.0K
YoY Change 2600.0% 3400.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.628M $5.500M $1.162M
Total Long-Term Liabilities $5.400M $7.000M $200.0K
Total Liabilities $13.01M $12.40M $1.303M
YoY Change 622.83% 853.85%
SHAREHOLDERS EQUITY
Retained Earnings -$46.22M -$8.869M
YoY Change
Common Stock $325.9M $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $279.7M $149.5M -$8.210M
YoY Change
Total Liabilities & Shareholders Equity $292.7M $161.9M $1.085M
YoY Change 26508.27% 14618.18%

Cashflow Statement

Concept 2015 Q1 2014 2013 Q4
OPERATING ACTIVITIES
Net Income -$9.509M -$25.40M -$3.693M
YoY Change 471.8% 381.5%
Depreciation, Depletion And Amortization $120.0K $162.0K $10.00K
YoY Change 1100.0% 523.08%
Cash From Operating Activities -$7.740M -$5.650M -$730.0K
YoY Change 473.33% 159.17%
INVESTING ACTIVITIES
Capital Expenditures $411.0K $943.0K -$10.00K
YoY Change 774.47% 936.26%
Acquisitions
YoY Change
Other Investing Activities -$88.37M
YoY Change
Cash From Investing Activities -$88.78M -$940.0K -$10.00K
YoY Change 177460.0% 944.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $8.300M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 139.0M 165.4M 980.0K
YoY Change 13798.0% 6570.97%
NET CHANGE
Cash From Operating Activities -7.740M -5.650M -730.0K
Cash From Investing Activities -88.78M -940.0K -10.00K
Cash From Financing Activities 139.0M 165.4M 980.0K
Net Change In Cash 42.46M 158.9M 240.0K
YoY Change -10715.0% 75542.86%
FREE CASH FLOW
Cash From Operating Activities -$7.740M -$5.650M -$730.0K
Capital Expenditures $411.0K $943.0K -$10.00K
Free Cash Flow -$8.151M -$6.593M -$720.0K
YoY Change 483.46% 190.31%

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Avalanche Biotechnologies, Inc.
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AAVL
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2006-07-17
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> <b>Use of Estimates</b>&#x2014;The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. The Company bases estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to clinical trial accruals, stock-based compensation, income taxes and, prior to the IPO, fair value of embedded derivative liability, fair value of convertible preferred stock and fair values of common and convertible preferred stock warrants. The Company&#x2019;s actual results may differ from these estimates under different assumptions or conditions. There have been no significant changes from our original estimates in any periods presented.</p> </div>
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> <b>Reclassifications</b>&#x2014;The Company has reclassified certain prior period amounts to conform to the current period presentation. The Company reclassified changes in fair value of warrant liabilities from other income (expense), net and presented it as a separate line item on our consolidated statements of operations and comprehensive loss. The reclassification had no impact on the total income (expense), net or net loss.</p> </div>
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Regeneron may terminate the agreement for convenience at any time on a target by target basis or in totality upon a 30-day notice. Each party can terminate the agreement if another party commits a material breach or material default in performance of its obligations and such breach or default is not cured within 60 days. The agreement is automatically terminated upon initiation of any bankruptcy proceedings, reorganization or dissolution of either party. The Company can terminate the agreement upon 30-day notice if Regeneron challenges the validity, scope or enforceability of any Company patent.
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-1663000
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
1636000
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.20
CY2013Q2 us-gaap Revenues
Revenues
150000
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-721000
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
855000
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.27
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 Operating Expenses
OperatingExpenses
4588000
CY2014Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3230000
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.22
CY2013Q3 us-gaap Revenues
Revenues
30000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
-813000
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
808000
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.50
CY2014Q3 us-gaap Revenues
Revenues
204000
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8256000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-8256000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
8144000
CY2013Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.01
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
-3693000
CY2013Q4 us-gaap Operating Expenses
OperatingExpenses
1929000
CY2014Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.46
CY2014Q4 us-gaap Revenues
Revenues
203000
CY2014Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-10391000
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-10391000
CY2014Q4 us-gaap Operating Expenses
OperatingExpenses
10606000

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