$ADVM
Adverum Biotechnologies, Inc.

2024 Q1 Form 10-K Financial Statement

#000162828024011648 Filed on March 18, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $3.600M
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $11.43M $10.68M $49.72M
YoY Change -10.57% 10.78% -10.84%
% of Gross Profit
Research & Development $15.41M $15.28M $77.68M
YoY Change -26.82% -31.18% -21.76%
% of Gross Profit
Depreciation & Amortization $997.0K $1.009M $5.644M
YoY Change -37.37% -41.06% -13.54%
% of Gross Profit
Operating Expenses $26.84M $25.96M $127.4M
YoY Change -20.69% -18.47% -18.93%
Operating Profit -$26.84M -$124.0M
YoY Change -11.24% -21.09%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $2.052M $1.311M $5.748M
YoY Change 71.0% 7.2% 115.04%
Pretax Income -$24.79M -$24.85M -$118.2M
YoY Change -14.64% -24.05% -23.45%
Income Tax $0.00 -$1.133M -$1.078M
% Of Pretax Income
Net Earnings -$24.79M -$23.71M -$117.2M
YoY Change -14.69% -27.56% -24.18%
Net Earnings / Revenue -3254.58%
Basic Earnings Per Share -$1.50 -$1.16
Diluted Earnings Per Share -$1.50 -$0.23 -$1.16
COMMON SHARES
Basic Shares Outstanding 207.5M shares 101.0M shares 100.8M shares
Diluted Shares Outstanding 16.48M shares 100.8M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $193.3M $96.53M $96.53M
YoY Change 17.68% -47.99% -47.99%
Cash & Equivalents $149.6M $75.00M $75.00M
Short-Term Investments $43.72M $21.53M $21.53M
Other Short-Term Assets $5.802M $6.247M $6.247M
YoY Change 26.46% 24.79% 24.79%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $199.1M $102.8M $102.8M
YoY Change 17.92% -46.08% -46.08%
LONG-TERM ASSETS
Property, Plant & Equipment $13.77M $67.03M $67.03M
YoY Change -58.72% 91.91% -41.13%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.196M $3.207M $3.207M
YoY Change -11.47% 126.96% -18.11%
Total Long-Term Assets $68.70M $70.24M $70.24M
YoY Change -35.62% -40.36% -40.36%
TOTAL ASSETS
Total Short-Term Assets $199.1M $102.8M $102.8M
Total Long-Term Assets $68.70M $70.24M $70.24M
Total Assets $267.8M $173.0M $173.0M
YoY Change -2.81% -43.9% -43.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.897M $1.921M $1.921M
YoY Change -33.74% -14.16% -14.16%
Accrued Expenses $19.54M $22.89M $22.89M
YoY Change -54.91% -23.06% -23.06%
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 $21.55M $24.91M $24.91M
YoY Change -53.63% -22.74% -22.74%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $63.99M $64.63M $64.63M
YoY Change 6072.59% -31.69%
Total Long-Term Liabilities $63.99M $64.63M $64.63M
YoY Change 6072.59% -31.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.55M $24.91M $24.91M
Total Long-Term Liabilities $63.99M $64.63M $64.63M
Total Liabilities $85.54M $89.54M $89.54M
YoY Change -27.4% -29.41% -29.41%
SHAREHOLDERS EQUITY
Retained Earnings -$944.6M -$919.8M
YoY Change 13.57% 14.6%
Common Stock $1.127B $1.004B
YoY Change 13.85% 1.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $182.3M $83.47M $83.47M
YoY Change
Total Liabilities & Shareholders Equity $267.8M $173.0M $173.0M
YoY Change -2.81% -43.9% -43.9%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$24.79M -$23.71M -$117.2M
YoY Change -14.69% -27.56% -24.18%
Depreciation, Depletion And Amortization $997.0K $1.009M $5.644M
YoY Change -37.37% -41.06% -13.54%
Cash From Operating Activities -$23.25M -$21.33M -$90.90M
YoY Change 3.72% 15.44% -15.9%
INVESTING ACTIVITIES
Capital Expenditures $90.00K $192.0K $808.0K
YoY Change 5.88% 3.78% -93.16%
Acquisitions
YoY Change
Other Investing Activities -$21.94M -$9.686M $97.68M
YoY Change -201.48% -500.41% -36.38%
Cash From Investing Activities -$22.03M -$9.878M $96.88M
YoY Change -202.29% -542.17% -31.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $489.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $119.9M 166.0K 69.00K
YoY Change -31.4% -88.63%
NET CHANGE
Cash From Operating Activities -$23.25M -21.33M -90.90M
Cash From Investing Activities -$22.03M -9.878M 96.88M
Cash From Financing Activities $119.9M 166.0K 69.00K
Net Change In Cash $74.61M -31.04M 6.042M
YoY Change -8587.83% 94.01% -82.35%
FREE CASH FLOW
Cash From Operating Activities -$23.25M -$21.33M -$90.90M
Capital Expenditures $90.00K $192.0K $808.0K
Free Cash Flow -$23.34M -$21.52M -$91.71M
YoY Change 3.72% 15.33% -23.52%

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ProceedsFromStockOptionsExercised
1000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3000 usd
CY2023 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
488000 usd
CY2022 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
604000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
69000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
607000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6042000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
34236000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70934000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36698000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
76976000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70934000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
75000000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
68431000 usd
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1976000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2503000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
76976000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70934000 usd
CY2023Q4 advm Operating Lease Non Cash Consideration Leasehold Improvements Value
OperatingLeaseNonCashConsiderationLeaseholdImprovementsValue
14903000 usd
CY2022Q4 advm Operating Lease Non Cash Consideration Leasehold Improvements Value
OperatingLeaseNonCashConsiderationLeaseholdImprovementsValue
0 usd
CY2023 advm Re Measurement Of Operating Lease Liability And Right Of Use Assets And Liabilities
ReMeasurementOfOperatingLeaseLiabilityAndRightOfUseAssetsAndLiabilities
13711000 usd
CY2022 advm Re Measurement Of Operating Lease Liability And Right Of Use Assets And Liabilities
ReMeasurementOfOperatingLeaseLiabilityAndRightOfUseAssetsAndLiabilities
2842000 usd
CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
91000 usd
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
64000 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-919800000 usd
CY2023Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
96500000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span>—The preparation of financial statements in conformity with U.S. GAAP requires management to make judgements, estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosures. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. These estimates form the basis for making judgments about the carrying values of assets and liabilities when these values are not readily apparent from other sources. Accounting estimates and judgements are inherently uncertain, and the actual results could differ from these estimates
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentrations of Credit Risk and Other Uncertainties</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents and short-term investments. Risks associated with cash, cash equivalents, short-term investments are mitigated by the Company’s investment policy, which limits the Company’s investing to securities having specified credit ratings. Management believes that the Company is not exposed to significant credit risk.</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to certain risks and uncertainties, including, but not limited to changes in any of the following areas that the Company believes could have a material adverse effect on future financial position or results of operations: the ability to obtain future financing; regulatory approval and market acceptance of, and reimbursement for, the Company’s product candidates; performance of third-party clinical research organizations and manufacturers; development of sales channels; protection of intellectual property; litigation or claims against the Company based on intellectual property, patent, product, regulatory or other factors; and the Company’s ability to attract and retain employees necessary to support growth.</span></div>
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
200000 usd
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
2100000 usd
CY2023Q4 advm Cash And Cash Equivalent Amortized Cost
CashAndCashEquivalentAmortizedCost
70972000 usd
CY2023Q4 advm Cash And Cash Equivalent Gross Unrealized Gain
CashAndCashEquivalentGrossUnrealizedGain
0 usd
CY2023Q4 advm Cash And Cash Equivalent Gross Unrealized Loss
CashAndCashEquivalentGrossUnrealizedLoss
33000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
70939000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
21541000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
4000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
19000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
21526000 usd
CY2022Q4 advm Cash And Cash Equivalent Amortized Cost
CashAndCashEquivalentAmortizedCost
56256000 usd
CY2022Q4 advm Cash And Cash Equivalent Gross Unrealized Gain
CashAndCashEquivalentGrossUnrealizedGain
0 usd
CY2022Q4 advm Cash And Cash Equivalent Gross Unrealized Loss
CashAndCashEquivalentGrossUnrealizedLoss
16000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
56240000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
118247000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1089000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
117158000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
19 security
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
71300000 usd
CY2023Q3 advm Lessee Operating Lease Number Of Leased Facilities
LesseeOperatingLeaseNumberOfLeasedFacilities
2 lease
CY2023Q1 advm Lessee Operating Lease Number Of Leases Expirations Accelerated
LesseeOperatingLeaseNumberOfLeasesExpirationsAccelerated
1 lease
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
8300000 usd
CY2023Q1 advm Operating Lease Non Cash Consideration Leasehold Improvements Value
OperatingLeaseNonCashConsiderationLeaseholdImprovementsValue
14900000 usd
CY2023Q2 advm Re Measurement Of Operating Lease Liability And Right Of Use Assets And Liabilities
ReMeasurementOfOperatingLeaseLiabilityAndRightOfUseAssetsAndLiabilities
5700000 usd
CY2022Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
0 usd
CY2023Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
0 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
11086000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
5248000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
11448000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
5405000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
11821000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
5568000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12207000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
5735000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
12606000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
5907000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
82047000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
60509000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
141215000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
88372000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
66179000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
75036000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
25300000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
17200000 usd
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
2400000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
2300000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
12800000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
6000000 usd
CY2023 advm Sublease Income Net
SubleaseIncomeNet
5300000 usd
CY2022 advm Sublease Income Net
SubleaseIncomeNet
-300000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
29000 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
6179000 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.05
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1000 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.29
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
29276000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
51921000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
14512000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
16994000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14764000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
34927000 usd
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
8040000 usd
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
8710000 usd
CY2023Q4 advm Accrued Nonclinical Clinical And Process Development Costs Current
AccruedNonclinicalClinicalAndProcessDevelopmentCostsCurrent
3367000 usd
CY2022Q4 advm Accrued Nonclinical Clinical And Process Development Costs Current
AccruedNonclinicalClinicalAndProcessDevelopmentCostsCurrent
6854000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
351000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
532000 usd
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
101000 usd
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
254000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
725000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
417000 usd
CY2023Q4 advm Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
12584000 usd
CY2022Q4 advm Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
16767000 usd
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
2470000 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.46
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
23028000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.87
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y2M12D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
99000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
23028000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
4.87
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y2M12D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
99000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
10352000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.42
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y10M24D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
48000 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.80
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.93
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
16100000 usd
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17569000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20079000 usd
CY2023 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
900000 usd
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1100000 usd
CY2023 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0 usd
CY2022Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Inception To Date
RestructuringAndRelatedCostNumberOfPositionsEliminatedInceptionToDate
75 employee
CY2022Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Inception To Date Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedInceptionToDatePercent
0.37
CY2022 us-gaap Restructuring Charges
RestructuringCharges
4685000 usd
CY2022 us-gaap Payments For Restructuring
PaymentsForRestructuring
4632000 usd
CY2022 us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
53000 usd
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
0 usd
CY2022 us-gaap Restructuring Charges
RestructuringCharges
4700000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-118089000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-154002000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-154000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-460000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-118243000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-154462000 usd
CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
-1078000 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
74000 usd
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-1078000 usd
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
74000 usd
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1078000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
74000 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-24831000 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-32437000 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
6001000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
3414000 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
21000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
52000 usd
CY2023 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
1810000 usd
CY2022 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
2529000 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
18479000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
31542000 usd
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-14000 usd
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-46000 usd
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Restructuring Charges
IncomeTaxReconciliationNondeductibleExpenseRestructuringCharges
1323000 usd
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Restructuring Charges
IncomeTaxReconciliationNondeductibleExpenseRestructuringCharges
103000 usd
CY2023 advm Effective Income Tax Rate Reconciliation Change In State Uncertain Tax Position
EffectiveIncomeTaxRateReconciliationChangeInStateUncertainTaxPosition
-1078000 usd
CY2022 advm Effective Income Tax Rate Reconciliation Change In State Uncertain Tax Position
EffectiveIncomeTaxRateReconciliationChangeInStateUncertainTaxPosition
0 usd
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
831000 usd
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-25000 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1078000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
74000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
127961000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
111709000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
1760000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
2053000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
24702000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
21439000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
7305000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
10705000 usd
CY2023Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
279000 usd
CY2023Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
11000 usd
CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
1562000 usd
CY2023Q4 advm Deferred Tax Assets Lease Obligation
DeferredTaxAssetsLeaseObligation
17708000 usd
CY2022Q4 advm Deferred Tax Assets Lease Obligation
DeferredTaxAssetsLeaseObligation
26241000 usd
CY2023Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
9850000 usd
CY2022Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
9850000 usd
CY2023Q4 advm Deferred Tax Assets Capitalized Costs
DeferredTaxAssetsCapitalizedCosts
29455000 usd
CY2022Q4 advm Deferred Tax Assets Capitalized Costs
DeferredTaxAssetsCapitalizedCosts
23697000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
218752000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
207535000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
205103000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
188141000 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
13649000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
19394000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
12335000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
19394000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
1314000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
0 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
13649000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
19394000 usd
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
17000000 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
39700000 usd
CY2023Q4 advm Deferred Tax Assets Capitalized Costs
DeferredTaxAssetsCapitalizedCosts
29500000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
24600000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
24700000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
24745000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
21944000 usd
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
43000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
274000 usd
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
3301000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
2527000 usd
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromCurrentPeriodTaxPositions
3475000 usd
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromCurrentPeriodTaxPositions
0 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
24614000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
24745000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
300000 usd
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24740000 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21320000 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
750000000 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.0001
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
101433000 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
101433000 shares

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0001628280-24-011648-index-headers.html Edgar Link pending
0001628280-24-011648-index.html Edgar Link pending
0001628280-24-011648.txt Edgar Link pending
0001628280-24-011648-xbrl.zip Edgar Link pending
advm-20231231.htm Edgar Link pending
advm-20231231.xsd Edgar Link pending
advm-20231231xexx211.htm Edgar Link pending
advm-20231231xexx231.htm Edgar Link pending
advm-20231231xexx311.htm Edgar Link pending
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advm-20231231_g1.jpg Edgar Link pending
advm-20231231_cal.xml Edgar Link unprocessable
advm-20231231_def.xml Edgar Link unprocessable
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advm-20231231_pre.xml Edgar Link unprocessable
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advm-20231231_htm.xml Edgar Link completed
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report.css Edgar Link pending
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advm-20231231_lab.xml Edgar Link unprocessable