$AVTE
Aerovate Therapeutics, Inc.

2021 Q3 Form 10-Q Financial Statement

#000110465921105674 Filed on August 16, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.782M $2.031M $366.0K
YoY Change 904.33% 1254.0%
% of Gross Profit
Research & Development $3.418M $4.327M $3.300M
YoY Change 73.86% 194.15%
% of Gross Profit
Depreciation & Amortization $3.000K $2.000K $1.000K
YoY Change
% of Gross Profit
Operating Expenses $6.200M $5.774M $3.663M
YoY Change 176.42% 255.32%
Operating Profit -$6.200M -$5.774M
YoY Change 255.32%
Interest Expense $16.00K $2.000K $0.00
YoY Change -105.41%
% of Operating Profit
Other Income/Expense, Net $0.00 -$1.000K -$3.000K
YoY Change -99.83%
Pretax Income -$6.184M -$8.556M -$3.666M
YoY Change 168.05% 288.91%
Income Tax
% Of Pretax Income
Net Earnings -$6.184M -$5.775M -$3.666M
YoY Change 168.05% 162.26%
Net Earnings / Revenue
Basic Earnings Per Share -$0.26 -$23.80
Diluted Earnings Per Share -$267.6K -$370.3K -$158.6K
COMMON SHARES
Basic Shares Outstanding 24.41M 243.1K shares
Diluted Shares Outstanding 23.89M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $180.9M $59.15M
YoY Change
Cash & Equivalents $180.9M $59.20M $4.573M
Short-Term Investments
Other Short-Term Assets $2.224M $159.0K
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $183.1M $59.31M $4.676M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $745.0K $35.00K $39.00K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $278.0K $3.090M
YoY Change
Total Long-Term Assets $1.023M $3.125M $39.00K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $183.1M $59.31M $4.676M
Total Long-Term Assets $1.023M $3.125M $39.00K
Total Assets $184.1M $62.43M $4.715M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.555M $3.042M
YoY Change
Accrued Expenses $1.090M $1.031M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.825M $4.193M $1.774M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $452.0K -$2.300K
YoY Change
Total Long-Term Liabilities $452.0K -$2.300K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.825M $4.193M $1.774M
Total Long-Term Liabilities $452.0K -$2.300K
Total Liabilities $4.277M $4.191M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$21.99M -$13.41M
YoY Change
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $179.8M -$21.58M -$13.34M
YoY Change
Total Liabilities & Shareholders Equity $184.1M $62.43M $4.715M
YoY Change

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q4
OPERATING ACTIVITIES
Net Income -$6.184M -$5.775M -$3.666M
YoY Change 168.05% 162.26%
Depreciation, Depletion And Amortization $3.000K $2.000K $1.000K
YoY Change
Cash From Operating Activities -$6.526M -$4.005M -$2.884M
YoY Change 72.1% 194.49%
INVESTING ACTIVITIES
Capital Expenditures -$56.00K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$56.00K $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 128.3M 54.51M 0.000
YoY Change 1338.78%
NET CHANGE
Cash From Operating Activities -6.526M -4.005M -2.884M
Cash From Investing Activities -56.00K 0.000
Cash From Financing Activities 128.3M 54.51M 0.000
Net Change In Cash 121.7M 50.51M -2.884M
YoY Change 2274.72% -3813.9%
FREE CASH FLOW
Cash From Operating Activities -$6.526M -$4.005M -$2.884M
Capital Expenditures -$56.00K $0.00
Free Cash Flow -$6.470M -$4.005M
YoY Change 70.62% 194.49%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
243076
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
241467
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
243076
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
241467
CY2020Q4 avte Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
946000
CY2021Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
258000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
192000
CY2021Q2 us-gaap Deferred Offering Costs
DeferredOfferingCosts
297000
CY2021Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
120000
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
18000
CY2021Q2 avte Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
1151000
CY2020Q4 avte Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
1156000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2770954
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1768000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-35.29
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-15.07
CY2020Q2 us-gaap Operating Expenses
OperatingExpenses
1625000
us-gaap Operating Expenses
OperatingExpenses
8554000
us-gaap Operating Expenses
OperatingExpenses
2983000
us-gaap Operating Income Loss
OperatingIncomeLoss
-8554000
us-gaap Operating Income Loss
OperatingIncomeLoss
-2983000
CY2021Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
2000
CY2020Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-37000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
2000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-75000
CY2021Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
dei Entity Central Index Key
EntityCentralIndexKey
0001798749
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Amendment Flag
AmendmentFlag
false
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
243076
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
243076
CY2021Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.32
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2021-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-40544
dei Entity Registrant Name
EntityRegistrantName
AEROVATE THERAPEUTICS, INC.
CY2020Q2 avte Fair Value Adjustment Of Convertible Promissory Notes
FairValueAdjustmentOfConvertiblePromissoryNotes
540000
avte Fair Value Adjustment Of Convertible Promissory Notes
FairValueAdjustmentOfConvertiblePromissoryNotes
580000
CY2021Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
3000
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
4000
CY2021Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000
CY2020Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-577000
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
83-1377888
dei Entity Address Address Line1
EntityAddressAddressLine1
200 Berkeley Street,
dei Entity Address Address Line2
EntityAddressAddressLine2
Floor 18
dei Entity Address City Or Town
EntityAddressCityOrTown
Boston
dei Entity Address State Or Province
EntityAddressStateOrProvince
MA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
02116
dei City Area Code
CityAreaCode
(617)
dei Local Phone Number
LocalPhoneNumber
443-2400
CY2021Q2 us-gaap Operating Expenses
OperatingExpenses
5774000
dei Security12b Title
Security12bTitle
Common stock, par value $0.0001 per share
dei Trading Symbol
TradingSymbol
AVTE
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
No
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
true
dei Entity Shell Company
EntityShellCompany
false
CY2021Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
24410393
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
59150000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4573000
CY2021Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
159000
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
103000
CY2021Q2 us-gaap Assets Current
AssetsCurrent
59309000
CY2020Q4 us-gaap Assets Current
AssetsCurrent
4676000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
35000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
39000
CY2021Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3090000
CY2021Q2 us-gaap Assets
Assets
62434000
CY2020Q4 us-gaap Assets
Assets
4715000
CY2021Q2 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
9000
CY2020Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
6000
CY2021Q2 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
3042000
CY2020Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
618000
CY2021Q2 avte Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
1151000
CY2020Q4 avte Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
1156000
CY2021Q2 us-gaap Liabilities Current
LiabilitiesCurrent
4193000
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1774000
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
243076
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
243076
CY2021Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
407000
CY2020Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
63000
CY2021Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-21985000
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-13407000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-21578000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-13344000
CY2021Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
62434000
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4715000
CY2021Q2 avte Research And Development Related Party
ResearchAndDevelopmentRelatedParty
39000
CY2020Q2 avte Research And Development Related Party
ResearchAndDevelopmentRelatedParty
19000
avte Research And Development Related Party
ResearchAndDevelopmentRelatedParty
54000
avte Research And Development Related Party
ResearchAndDevelopmentRelatedParty
35000
CY2021Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4327000
CY2020Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1471000
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-9.12
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6523000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2677000
CY2021Q2 avte General And Administrative Related Party
GeneralAndAdministrativeRelatedParty
6000
CY2020Q2 avte General And Administrative Related Party
GeneralAndAdministrativeRelatedParty
8000
avte General And Administrative Related Party
GeneralAndAdministrativeRelatedParty
11000
avte General And Administrative Related Party
GeneralAndAdministrativeRelatedParty
15000
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1447000
CY2020Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
154000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2031000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
306000
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-5774000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1625000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-655000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-5775000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-2202000
us-gaap Net Income Loss
NetIncomeLoss
-8556000
us-gaap Net Income Loss
NetIncomeLoss
-3638000
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-23.80
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2202000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8578000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3638000
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
243076
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
241467
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
243076
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
-3643000
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-1436000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
-5072000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-2202000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
-7268000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-13344000
CY2021Q1 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
-13000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
23000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-2781000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
-16115000
CY2021Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
-9000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
321000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-5775000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-21578000
us-gaap Net Income Loss
NetIncomeLoss
-8556000
us-gaap Net Income Loss
NetIncomeLoss
-3638000
us-gaap Depreciation
Depreciation
4000
us-gaap Share Based Compensation
ShareBasedCompensation
344000
us-gaap Share Based Compensation
ShareBasedCompensation
13000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-75000
avte Fair Value Adjustment Of Convertible Promissory Notes
FairValueAdjustmentOfConvertiblePromissoryNotes
580000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
56000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
74000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
2000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
563000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
129000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-5000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
301000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7780000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2542000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
40000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-40000
us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
63512000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1115000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
62397000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
54577000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2542000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4573000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3514000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
59150000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
972000
avte Deferred Offering Costs Included In Accounts Payable
DeferredOfferingCostsIncludedInAccountsPayable
1901000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
241467
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
59200000
CY2021Q2 us-gaap Deferred Costs
DeferredCosts
3000000.0
CY2020Q4 us-gaap Deferred Costs
DeferredCosts
0.0
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-5775000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-2202000
us-gaap Net Income Loss
NetIncomeLoss
-8556000
us-gaap Net Income Loss
NetIncomeLoss
-3638000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5784000
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-23.80
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-9.12
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-35.29
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-15.07
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16953808
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1368312
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
40000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
40000
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
35000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
39000
CY2021Q2 avte Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
476000
CY2021Q2 us-gaap Cash
Cash
1400000
CY2021Q2 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
57800000
CY2021Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
CY2021Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
CY2020Q3 avte Capital Stock Shares Authorized
CapitalStockSharesAuthorized
94052154
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q3 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
44052154
CY2020Q3 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
10000000
CY2021Q2 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.0001
CY2021Q3 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
14182854
CY2021Q2 avte Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
1
CY2021Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
18721808
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
229105
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.74
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y8M8D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2541849
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.04
avte Share Based Compensation Arrangement By Share Based Payment Award Options Granted Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm
P9Y10M2D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2770954
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.69
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y9M14D
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
47439000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
41250
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
2.72
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P9Y3M14D
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
829000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2770954
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
5.69
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9Y9M14D
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
47439000
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.004
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.010
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.012
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.004
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.015
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.687
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.696
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.792
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.794
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.687
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.696
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.680
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.794
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.010
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.012
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
321000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
344000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13000
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
9400000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y8M12D

Files In Submission

Name View Source Status
0001104659-21-105674-index-headers.html Edgar Link pending
0001104659-21-105674-index.html Edgar Link pending
0001104659-21-105674.txt Edgar Link pending
0001104659-21-105674-xbrl.zip Edgar Link pending
avte-20210630.xsd Edgar Link pending
avte-20210630x10q.htm Edgar Link pending
avte-20210630x10q_htm.xml Edgar Link completed
avte-20210630xex31d1.htm Edgar Link pending
avte-20210630xex31d2.htm Edgar Link pending
avte-20210630xex32d1.htm Edgar Link pending
avte-20210630_cal.xml Edgar Link unprocessable
avte-20210630_def.xml Edgar Link unprocessable
avte-20210630_lab.xml Edgar Link unprocessable
avte-20210630_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending