$ADVM
Adverum Biotechnologies Inc

2024 Q3 Form 10-Q Financial Statement

#000162828024036769 Filed on August 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.785M
YoY Change -69.64%
% of Gross Profit
Research & Development $17.10M
YoY Change -17.0%
% of Gross Profit
Depreciation & Amortization $956.0K
YoY Change -37.68%
% of Gross Profit
Operating Expenses $20.88M
YoY Change -36.85%
Operating Profit -$20.88M
YoY Change -36.85%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $2.406M
YoY Change 52.66%
Pretax Income -$18.48M
YoY Change -41.33%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$18.48M
YoY Change -41.36%
Net Earnings / Revenue
Basic Earnings Per Share -$0.89
Diluted Earnings Per Share -$0.89
COMMON SHARES
Basic Shares Outstanding 20.80M shares 20.76M shares
Diluted Shares Outstanding 20.85M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $173.8M
YoY Change 22.89%
Cash & Equivalents $127.3M
Short-Term Investments $46.51M
Other Short-Term Assets $5.591M
YoY Change -1.74%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $179.4M
YoY Change 21.93%
LONG-TERM ASSETS
Property, Plant & Equipment $13.05M
YoY Change -59.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.162M
YoY Change -11.16%
Total Long-Term Assets $74.39M
YoY Change -21.11%
TOTAL ASSETS
Total Short-Term Assets $179.4M
Total Long-Term Assets $74.39M
Total Assets $253.8M
YoY Change 5.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.973M
YoY Change 39.14%
Accrued Expenses $20.41M
YoY Change -52.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $22.46M
YoY Change -49.55%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $63.31M
YoY Change
Total Long-Term Liabilities $63.31M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $22.46M
Total Long-Term Liabilities $63.31M
Total Liabilities $85.77M
YoY Change -22.22%
SHAREHOLDERS EQUITY
Retained Earnings -$963.0M
YoY Change 11.56%
Common Stock $1.132B
YoY Change 13.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $168.0M
YoY Change
Total Liabilities & Shareholders Equity $253.8M
YoY Change 5.13%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$18.48M
YoY Change -41.36%
Depreciation, Depletion And Amortization $956.0K
YoY Change -37.68%
Cash From Operating Activities -$19.84M
YoY Change -14.65%
INVESTING ACTIVITIES
Capital Expenditures $16.00K
YoY Change -55.56%
Acquisitions
YoY Change
Other Investing Activities -$2.311M
YoY Change -103.45%
Cash From Investing Activities -$2.327M
YoY Change -103.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -116.0K
YoY Change -1550.0%
NET CHANGE
Cash From Operating Activities -19.84M
Cash From Investing Activities -2.327M
Cash From Financing Activities -116.0K
Net Change In Cash -22.29M
YoY Change -150.9%
FREE CASH FLOW
Cash From Operating Activities -$19.84M
Capital Expenditures $16.00K
Free Cash Flow -$19.86M
YoY Change -14.71%

Facts In Submission

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dei Current Fiscal Year End Date
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dei Document Period End Date
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dei Entity Registrant Name
EntityRegistrantName
Adverum Biotechnologies, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
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dei Entity Tax Identification Number
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OtherNoncashIncomeExpense
306000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-775000 usd
advm Increase Decrease In Deposit And Other Noncurrent Assets And Deferred Rent Receivable
IncreaseDecreaseInDepositAndOtherNoncurrentAssetsAndDeferredRentReceivable
6894000 usd
advm Increase Decrease In Deposit And Other Noncurrent Assets And Deferred Rent Receivable
IncreaseDecreaseInDepositAndOtherNoncurrentAssetsAndDeferredRentReceivable
-105000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-944000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-525000 usd
advm Increase Decrease In Lease Liabilities And Lease Incentive Receivable
IncreaseDecreaseInLeaseLiabilitiesAndLeaseIncentiveReceivable
-1619000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-45661000 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
20232000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
108909000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
121000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
88556000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
119361000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
139000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
238000 usd
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
264000 usd
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
246000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
119764000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
52321000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
42903000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70934000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
129297000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
113837000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
127321000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
111187000 usd
CY2024Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1976000 usd
CY2023Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2650000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
129297000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
113837000 usd
advm Deferred Offering Costs Included In Accounts Payable
DeferredOfferingCostsIncludedInAccountsPayable
0 usd
advm Re Measurement Of Operating Lease Right Of Use Assets
ReMeasurementOfOperatingLeaseRightOfUseAssets
0 usd
advm Re Measurement Of Operating Lease Right Of Use Assets
ReMeasurementOfOperatingLeaseRightOfUseAssets
13711000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
221000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
496000 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-963000000.0 usd
CY2024Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
173800000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</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 preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make judgments, 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 it believes 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 judgments are inherently uncertain, and actual results could differ from these estimates.</span></div>
CY2024Q2 advm Cash And Cash Equivalent Amortized Cost
CashAndCashEquivalentAmortizedCost
118814000 usd
CY2024Q2 advm Cash And Cash Equivalent Gross Unrealized Gain
CashAndCashEquivalentGrossUnrealizedGain
0 usd
CY2024Q2 advm Cash And Cash Equivalent Gross Unrealized Loss
CashAndCashEquivalentGrossUnrealizedLoss
56000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
118758000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
46540000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
35000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
46506000 usd
CY2023Q4 advm Cash And Cash Equivalent Amortized Cost
CashAndCashEquivalentAmortizedCost
70972000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
45 security
us-gaap Debt Securities Available For Sale Allowance For Credit Loss Writeoff
DebtSecuritiesAvailableForSaleAllowanceForCreditLossWriteoff
0 usd
CY2023 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Writeoff
DebtSecuritiesAvailableForSaleAllowanceForCreditLossWriteoff
0 usd
CY2023Q3 advm Lessee Operating Lease Number Of Lease
LesseeOperatingLeaseNumberOfLease
2 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 Increase Decrease In Operating Lease Liability Due To Lease Modification
IncreaseDecreaseInOperatingLeaseLiabilityDueToLeaseModification
-5700000 usd
CY2023Q2 advm Increase Decrease In Operating Lease Tight Of Use Asset Due To Lease Modification
IncreaseDecreaseInOperatingLeaseTightOfUseAssetDueToLeaseModification
-5700000 usd
CY2023Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
0 usd
CY2024Q2 us-gaap Lease Income
LeaseIncome
7000000 usd
CY2024Q2 advm Sublease Income Net
SubleaseIncomeNet
8200000 usd
advm Sublease Income Net
SubleaseIncomeNet
9600000 usd
CY2023Q2 advm Sublease Income Net
SubleaseIncomeNet
1400000 usd
advm Sublease Income Net
SubleaseIncomeNet
2800000 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
29395000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
29276000 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
16348000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
14512000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13047000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14764000 usd
CY2024Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
5332000 usd
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
8040000 usd
CY2024Q2 advm Accrued Nonclinical Clinical And Development Process Costs
AccruedNonclinicalClinicalAndDevelopmentProcessCosts
3212000 usd
CY2023Q4 advm Accrued Nonclinical Clinical And Development Process Costs
AccruedNonclinicalClinicalAndDevelopmentProcessCosts
3367000 usd
CY2024Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
658000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
351000 usd
CY2024Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
79000 usd
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
101000 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
631000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
725000 usd
CY2024Q2 advm Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
9912000 usd
CY2023Q4 advm Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
12584000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
776000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
15.44
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
14000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
10.14
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
192000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
38.94
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2873000 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
40.55
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1350000 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
68.71
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3945000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4469000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8111000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9032000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3080000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2549000 shares
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0001628280-24-036769.txt Edgar Link pending
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advm-20240630.htm Edgar Link pending
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