$AVIR
Atea Pharmaceuticals, Inc.

2024 Q1 Form 10-K Financial Statement

#000095017024022226 Filed on February 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $12.23M $11.53M $49.92M
YoY Change -3.04% -6.72% 2.47%
% of Gross Profit
Research & Development $57.58M $16.82M $114.2M
YoY Change 187.8% 14.3% 39.43%
% of Gross Profit
Depreciation & Amortization $104.0K $104.0K $416.0K
YoY Change 0.0% 0.0% 60.0%
% of Gross Profit
Operating Expenses $69.81M $28.35M $164.2M
YoY Change 114.0% 4.7% 25.65%
Operating Profit -$69.81M -$164.2M
YoY Change 67.93% 25.65%
Interest Expense $6.868M $7.758M $29.22M
YoY Change 9.03% 38.76% 162.08%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$62.94M -$38.82M -$134.9M
YoY Change 78.45% 13.14% 12.92%
Income Tax $231.0K $349.0K $1.018M
% Of Pretax Income
Net Earnings -$63.17M -$39.16M -$136.0M
YoY Change 78.11% 13.75% 17.3%
Net Earnings / Revenue
Basic Earnings Per Share -$0.75 -$1.63
Diluted Earnings Per Share -$0.75 -$0.47 -$1.63
COMMON SHARES
Basic Shares Outstanding 84.16M 83.44M 83.39M
Diluted Shares Outstanding 83.92M 83.39M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $541.5M $578.1M $578.1M
YoY Change -12.73% -10.61% -10.61%
Cash & Equivalents $160.9M $143.8M $143.8M
Short-Term Investments $380.6M $434.3M $434.3M
Other Short-Term Assets $7.273M $12.35M $12.35M
YoY Change -38.89% -13.11% -13.11%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $548.8M $590.5M $590.5M
YoY Change -13.22% -10.66% -10.66%
LONG-TERM ASSETS
Property, Plant & Equipment $1.185M $1.289M $3.117M
YoY Change -69.24% -24.4% -23.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.396M $1.396M $1.396M
YoY Change -26.1% -6.56% -17.49%
Total Long-Term Assets $4.265M $4.513M $4.513M
YoY Change -25.71% -22.0% -22.0%
TOTAL ASSETS
Total Short-Term Assets $548.8M $590.5M $590.5M
Total Long-Term Assets $4.265M $4.513M $4.513M
Total Assets $553.0M $595.0M $595.0M
YoY Change -13.34% -10.76% -10.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.14M $4.252M $4.252M
YoY Change 2919.57% 66.68% 66.68%
Accrued Expenses $20.17M $28.12M $28.12M
YoY Change 75.69% 77.69% 77.69%
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 $41.31M $32.38M $32.38M
YoY Change 234.2% 75.21% 75.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.347M $7.400M $7.400M
YoY Change -3.18% -3.37% -3.37%
Total Long-Term Liabilities $7.347M $7.400M $7.400M
YoY Change -3.18% -3.37% -3.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.31M $32.38M $32.38M
Total Long-Term Liabilities $7.347M $7.400M $7.400M
Total Liabilities $48.66M $39.78M $39.78M
YoY Change 143.91% 52.19% 52.19%
SHAREHOLDERS EQUITY
Retained Earnings -$259.0M -$195.8M
YoY Change 227.05%
Common Stock $84.00K $83.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $504.4M $555.2M $555.2M
YoY Change
Total Liabilities & Shareholders Equity $553.0M $595.0M $595.0M
YoY Change -13.34% -10.76% -10.76%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$63.17M -$39.16M -$136.0M
YoY Change 78.11% 13.75% 17.3%
Depreciation, Depletion And Amortization $104.0K $104.0K $416.0K
YoY Change 0.0% 0.0% 60.0%
Cash From Operating Activities -$39.87M -$21.83M -$85.40M
YoY Change 33.55% 1.34% -29.42%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $56.80M $27.77M $40.30M
YoY Change 132.03% -17.07% -108.89%
Cash From Investing Activities $56.80M $27.77M $40.30M
YoY Change 132.03% -17.07% -108.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 150.0K -43.00K 257.0K
YoY Change -9.09% -30.54%
NET CHANGE
Cash From Operating Activities -39.87M -21.83M -85.40M
Cash From Investing Activities 56.80M 27.77M 40.30M
Cash From Financing Activities 150.0K -43.00K 257.0K
Net Change In Cash 17.09M 5.937M -44.84M
YoY Change -428.28% -50.29% -92.22%
FREE CASH FLOW
Cash From Operating Activities -$39.87M -$21.83M -$85.40M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$21.83M -$85.40M
YoY Change 1.34% -30.53%

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<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;min-width:fit-content;">1. Nature of Business</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Business Overview</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">Atea Pharmaceuticals, Inc., ("Atea" or the "Company") is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing antiviral therapeutics to improve the lives of patients suffering from severe viral infections. Currently, Atea is conducting a Phase 3 clinical trial evaluating bemnifosbuvir for the treatment of Coronavirus disease 2019 ("COVID-19"). Atea is also currently conducting a Phase 2 clinical trial evaluating the combination of bemnifosbuvir and ruzasvir for the treatment of hepatitis C virus ("HCV").</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Liquidity and Capital Resources</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">As of December 31, 2023, the Company had $</span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">578.1</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> million in cash, cash equivalents and marketable securities, which the Company believes will be sufficient to fund its operations for a period through at least twelve months from the issuance date of these consolidated financial statements.</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">In November 2021, the Company entered into an open market sales agreement (“Sales Agreement”) with Jefferies LLC (“Jefferies”), under which the Company may from time to time offer and sell shares of its common stock for an aggregate offering price of up to $</span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">200.0</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> million, through or to Jefferies, acting as sales agent or principal. The shares will be offered and sold under the Company’s shelf registration statement on Form S-3 and a related prospectus filed with the Securities and Exchange Commission (“SEC”) on November 24, 2021, as amended. The Company has agreed to pay Jefferies a commission of </span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">3.0</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">% of the aggregate gross proceeds from each sale of shares, reimburse legal fees and disbursements and provide Jefferies with customary indemnification and contribution rights. As of December 31, 2023, </span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> shares have been issued under the Sales Agreement.</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Risks and Uncertainties</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">The Company is subject to risks and uncertainties common to clinical-stage biopharmaceutical companies. These risks include, but are not limited to, potential failure of preclinical and clinical studies, uncertainties associated with research and development activities generally, competition from technical innovations of others, dependence upon key personnel, compliance with governmental regulations, the need to obtain marketing approval for any product candidate that the Company may develop, the need to gain broad acceptance among patients, payers and health care providers to successfully commercialize any product for which marketing approval is obtained and the need to secure and maintain adequate intellectual property protection for the Company’s proprietary technology and products. Further, the Company is currently dependent on third-party service providers for much of its preclinical research, clinical development and manufacturing activities. Product candidates currently under development will require significant amounts of additional capital, and additional research and development efforts, including further additional clinical testing and regulatory approval, prior to commercialization. Even if the Company is able to generate revenues from the sale of its product candidates, if approved, it may not become profitable. If the Company fails to become profitable or is unable to sustain profitability on a continuing basis, then it may be unable to continue its operations at planned levels and be forced to reduce its operations.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">The Company may seek additional capital through one or more of a combination of financing through the sale of additional equity securities, debt financing, or funding in connection with any new collaborative relationships it may enter into or other arrangements. There can be no assurance that the Company will be able to obtain such additional funding, on terms acceptable to the Company, on a timely basis or at all. The terms of any financing may adversely affect the holdings or the rights of the Company’s existing stockholders.</span><span style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Arial;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">The </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">Company is also subject to risks associated with the continued evolution of COVID-19 and its consequences, including actual and potential delays associated with certain of its ongoing and anticipated trials, and potential negative impacts on the Company’s business operations and its ability to raise</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">additional </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">capital to finance its operations. Geopolitical events, including civil or political unrest and terrorism, have resulted in a significant disruption of global business and financial markets. In addition, recent or future market volatility, increased inflation and higher interest rates, if sustained, may increase our cost of financing and may restrict our access to potential sources of future liquidity.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p>
CY2023Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
578100000
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
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113000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
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684000
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
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178003000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
143221000
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
578023000
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
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CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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434076000
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320000
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113000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
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434283000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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458933000
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684000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
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CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
26
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
15
CY2023 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
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0
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0
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AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
0
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
0
CY2023 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
602665000
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ProceedsFromSaleAndMaturityOfMarketableSecurities
91885000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1978000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1978000
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689000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
273000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1289000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1705000
CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
416000
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
260000
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20999000
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27364000
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15206000
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760000
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CY2022 us-gaap Operating Lease Cost
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CY2023 us-gaap Lease Cost
LeaseCost
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CY2022 us-gaap Lease Cost
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P3Y
CY2022Q4 us-gaap Lessee Operating Lease Remaining Lease Term
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P4Y
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LesseeOperatingLeaseDiscountRate
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CY2022Q4 us-gaap Lessee Operating Lease Discount Rate
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838000
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855000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2514000
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112000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
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OperatingLeaseExpense
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CY2022 us-gaap Operating Lease Expense
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CY2023Q4 us-gaap Preferred Stock Shares Issued
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CY2023Q4 us-gaap Common Stock Shares Issued
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CommonStockSharesOutstanding
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CY2023 us-gaap Common Stock Voting Rights
CommonStockVotingRights
On all matters to be voted upon by the holders of common stock, holders of common stock are entitled to one vote per share.
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
13632278
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.48
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P7Y8M12D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
10937000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.48
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
392509
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21.46
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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17017319
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.30
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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5080000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
17017319
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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15.30
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
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P7Y1M6D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
5080000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
16.46
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
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P6Y4M24D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
5078000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.27
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.09
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsMethodUsed
Black-Scholes
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0365
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.021
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P5Y11M19D
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P5Y11M15D
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.85
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.85
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023 us-gaap Allocated Share Based Compensation Expense
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CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
49428000
CY2022 us-gaap Allocated Share Based Compensation Expense
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46718000
CY2023 us-gaap Income Tax Expense Benefit
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1018000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3590000
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.042
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.056
CY2022 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
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0.034
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.033
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.021
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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-0.043
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.038
CY2023 avir Effective Income Tax Rate Reconciliation Uncertain Tax Positions
EffectiveIncomeTaxRateReconciliationUncertainTaxPositions
-0.004
CY2022 avir Effective Income Tax Rate Reconciliation Uncertain Tax Positions
EffectiveIncomeTaxRateReconciliationUncertainTaxPositions
-0.002
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.001
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.003
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.245
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.253
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.008
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.031
CY2023Q4 avir Deferred Tax Assets In Process Research And Development Costs
DeferredTaxAssetsInProcessResearchAndDevelopmentCosts
33692000
CY2022Q4 avir Deferred Tax Assets In Process Research And Development Costs
DeferredTaxAssetsInProcessResearchAndDevelopmentCosts
14305000
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
9385000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
5590000
CY2023Q4 avir Deferred Tax Assets License Agreement
DeferredTaxAssetsLicenseAgreement
5609000
CY2022Q4 avir Deferred Tax Assets License Agreement
DeferredTaxAssetsLicenseAgreement
6043000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
17884000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
12215000
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
8155000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
3826000
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
143000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
70000
CY2023Q4 avir Deferred Tax Assets Prepaid Expenses
DeferredTaxAssetsPrepaidExpenses
-695000
CY2022Q4 avir Deferred Tax Assets Prepaid Expenses
DeferredTaxAssetsPrepaidExpenses
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CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
74173000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
41156000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
74173000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
41156000
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
74173000
CY2023 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
The Company evaluates tax positions for recognition using a more-likely-than-not recognition threshold, and those tax positions eligible for recognition are measured as the largest amount of tax benefit that is greater than 50% likely of being realized upon the effective settlement with a taxing authority that has full knowledge of all relevant information.
CY2022Q4 us-gaap Unrecognized Tax Benefits
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5255000
CY2023 avir Unrecognized Tax Benefits Increases Resulting From Accrued Interest
UnrecognizedTaxBenefitsIncreasesResultingFromAccruedInterest
503000
CY2023Q4 us-gaap Unrecognized Tax Benefits
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5758000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-135956000
CY2022 us-gaap Net Income Loss
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CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83389750
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83389750
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83245385
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83245385
CY2023 us-gaap Earnings Per Share Diluted
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-1.63
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.63
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.39
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.39
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
708000
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
541000

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