$AVTE
Aerovate Therapeutics, Inc.

2022 Q4 Form 10-Q Financial Statement

#000155837022017586 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.631M $3.369M $2.782M
YoY Change 12.69% 21.1% 904.33%
% of Gross Profit
Research & Development $12.22M $10.78M $3.418M
YoY Change 142.19% 215.48% 73.86%
% of Gross Profit
Depreciation & Amortization $20.00K $20.00K $3.000K
YoY Change 150.0% 566.67%
% of Gross Profit
Operating Expenses $15.85M $14.15M $6.200M
YoY Change 91.73% 128.26% 176.42%
Operating Profit -$14.15M -$6.200M
YoY Change 128.26%
Interest Expense $932.0K $560.0K $16.00K
YoY Change 1882.98% 3400.0%
% of Operating Profit
Other Income/Expense, Net -$77.00K $564.0K $0.00
YoY Change -7800.0%
Pretax Income -$15.00M -$13.59M -$6.184M
YoY Change 82.45% 119.73% 168.05%
Income Tax $25.00K
% Of Pretax Income
Net Earnings -$15.02M -$13.59M -$6.184M
YoY Change 82.68% 119.73% 168.05%
Net Earnings / Revenue
Basic Earnings Per Share -$0.56 -$0.26
Diluted Earnings Per Share -$0.61 -$0.56 -$267.6K
COMMON SHARES
Basic Shares Outstanding 24.61M 24.45M shares 24.41M
Diluted Shares Outstanding 24.45M 23.89M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $129.2M $142.6M $180.9M
YoY Change -22.8% -21.17%
Cash & Equivalents $22.40M $22.42M $180.9M
Short-Term Investments $106.8M $120.2M
Other Short-Term Assets $2.276M $2.578M $2.224M
YoY Change -67.29% 15.92%
Inventory
Prepaid Expenses $1.503M $2.115M
Receivables
Other Receivables
Total Short-Term Assets $131.5M $145.2M $183.1M
YoY Change -24.57% -20.72%
LONG-TERM ASSETS
Property, Plant & Equipment $242.0K $330.0K $745.0K
YoY Change 30.11% -55.7%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.560M $1.076M $278.0K
YoY Change 747.68% 287.05%
Total Long-Term Assets $3.805M $2.500M $1.023M
YoY Change 269.42% 144.38%
TOTAL ASSETS
Total Short-Term Assets $131.5M $145.2M $183.1M
Total Long-Term Assets $3.805M $2.500M $1.023M
Total Assets $135.3M $147.7M $184.1M
YoY Change -22.85% -19.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.575M $4.541M $2.555M
YoY Change 113.16% 77.73%
Accrued Expenses $4.827M $2.910M $1.090M
YoY Change 302.59% 166.97%
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 $7.782M $7.705M $3.825M
YoY Change 205.18% 101.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $776.0K $813.0K $452.0K
YoY Change 96.46% 79.87%
Total Long-Term Liabilities $776.0K $813.0K $452.0K
YoY Change 96.46% 79.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.782M $7.705M $3.825M
Total Long-Term Liabilities $776.0K $813.0K $452.0K
Total Liabilities $8.558M $8.518M $4.277M
YoY Change 190.59% 99.16%
SHAREHOLDERS EQUITY
Retained Earnings -$87.90M -$72.88M
YoY Change 141.54%
Common Stock $2.000K $2.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $126.7M $139.1M $179.8M
YoY Change
Total Liabilities & Shareholders Equity $135.3M $147.7M $184.1M
YoY Change -22.85% -19.81%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$15.02M -$13.59M -$6.184M
YoY Change 82.68% 119.73% 168.05%
Depreciation, Depletion And Amortization $20.00K $20.00K $3.000K
YoY Change 150.0% 566.67%
Cash From Operating Activities -$14.86M -$9.720M -$6.526M
YoY Change 13.53% 48.94% 72.1%
INVESTING ACTIVITIES
Capital Expenditures $4.000K -$33.00K -$56.00K
YoY Change -104.71% -41.07%
Acquisitions
YoY Change
Other Investing Activities $14.49M $4.678M
YoY Change -112.79%
Cash From Investing Activities $14.49M $4.645M -$56.00K
YoY Change -112.78% -8394.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 357.0K 37.00K 128.3M
YoY Change -242.8% -99.97% 1338.78%
NET CHANGE
Cash From Operating Activities -14.86M -9.720M -6.526M
Cash From Investing Activities 14.49M 4.645M -56.00K
Cash From Financing Activities 357.0K 37.00K 128.3M
Net Change In Cash -22.00K -5.038M 121.7M
YoY Change -99.98% -104.14% 2274.72%
FREE CASH FLOW
Cash From Operating Activities -$14.86M -$9.720M -$6.526M
Capital Expenditures $4.000K -$33.00K -$56.00K
Free Cash Flow -$14.87M -$9.687M -$6.470M
YoY Change 14.31% 49.72% 70.62%

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