$ADVM
Adverum Biotechnologies, Inc.

2019 Q1 Form 10-Q Financial Statement

#000156459019017203 Filed on May 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $0.00 $216.0K
YoY Change -100.0% -53.25%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.580M $5.370M
YoY Change 3.91% -32.79%
% of Gross Profit
Research & Development $10.13M $12.79M
YoY Change -20.81% 41.2%
% of Gross Profit
Depreciation & Amortization $430.0K $460.0K
YoY Change -6.52% -11.54%
% of Gross Profit
Operating Expenses $15.71M $18.16M
YoY Change -13.52% 6.52%
Operating Profit -$15.71M -$17.95M
YoY Change -12.48%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.218M $746.0K
YoY Change 63.27% 52.56%
Pretax Income -$14.49M -$17.20M
YoY Change -15.76% 6.83%
Income Tax
% Of Pretax Income
Net Earnings -$14.49M -$17.20M
YoY Change -15.76% 6.84%
Net Earnings / Revenue -7962.96%
Basic Earnings Per Share
Diluted Earnings Per Share -$229.5K -$299.5K
COMMON SHARES
Basic Shares Outstanding 63.20M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $189.5M $247.0M
YoY Change -23.28% 17.9%
Cash & Equivalents $145.1M $152.7M
Short-Term Investments $45.40M $94.30M
Other Short-Term Assets $3.600M $2.200M
YoY Change 63.64% -29.03%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $193.1M $249.2M
YoY Change -22.51% 17.22%
LONG-TERM ASSETS
Property, Plant & Equipment $26.70M $2.800M
YoY Change 853.57% -31.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.200M $100.0K
YoY Change 1100.0% 0.0%
Total Long-Term Assets $27.90M $8.000M
YoY Change 248.75% -14.25%
TOTAL ASSETS
Total Short-Term Assets $193.1M $249.2M
Total Long-Term Assets $27.90M $8.000M
Total Assets $221.0M $257.2M
YoY Change -14.07% 15.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.800M $700.0K
YoY Change 157.14% -79.31%
Accrued Expenses $8.900M $7.200M
YoY Change 23.61% 9.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.60M $9.274M
YoY Change 14.3% -22.5%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $216.0K $404.0K
YoY Change -46.53% 9.19%
Total Long-Term Liabilities $216.0K $404.0K
YoY Change -46.53% 9.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.60M $9.274M
Total Long-Term Liabilities $216.0K $404.0K
Total Liabilities $32.90M $9.678M
YoY Change 239.95% -52.9%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $188.1M $246.0M
YoY Change
Total Liabilities & Shareholders Equity $221.0M $257.2M
YoY Change -14.07% 15.91%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$14.49M -$17.20M
YoY Change -15.76% 6.84%
Depreciation, Depletion And Amortization $430.0K $460.0K
YoY Change -6.52% -11.54%
Cash From Operating Activities -$13.22M -$12.98M
YoY Change 1.79% 9.85%
INVESTING ACTIVITIES
Capital Expenditures $2.186M $216.0K
YoY Change 912.04% -17.87%
Acquisitions
YoY Change
Other Investing Activities $4.930M $25.60M
YoY Change -80.74% -118.47%
Cash From Investing Activities $2.745M $25.38M
YoY Change -89.19% -118.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $70.19M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$370.0K 69.80M
YoY Change -100.53% 36635.79%
NET CHANGE
Cash From Operating Activities -$13.22M -12.98M
Cash From Investing Activities $2.745M 25.38M
Cash From Financing Activities -$370.0K 69.80M
Net Change In Cash -$10.84M 82.20M
YoY Change -113.19% -154.62%
FREE CASH FLOW
Cash From Operating Activities -$13.22M -$12.98M
Capital Expenditures $2.186M $216.0K
Free Cash Flow -$15.40M -$13.20M
YoY Change 16.69% 9.24%

Facts In Submission

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<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying consolidated financial statements have been prepared in accordance with U.S. GAAP. The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities and the reported amounts of expenses in the consolidated financial statements and the accompanying notes. On an ongoing basis, management evaluates its estimates, including those related to clinical trial accruals, fair value of assets and liabilities, income taxes, and stock-based compensation. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results could differ from those estimates.</p>
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