$AVTX
Avalo Therapeutics, Inc. Stock $avtx

$avtx Overview Financials Valuation SEC Filings Company Website

2021 Q3 Form 10-Q Financial Statement

#000162828021015170 Filed on August 02, 2021

Income Statement

Concept	2021 Q3	2021 Q2	2020 Q2
Revenue	$1.350M	$3.355M	$1.338M
YoY Change	21.51%	150.75%	-4.43%
Cost Of Revenue	$908.0K	$83.00K	$78.00K
YoY Change	1079.22%	6.41%	-105.21%
Gross Profit	$442.0K	$3.272M	$1.260M
YoY Change	-57.25%	159.68%	-56.5%
Gross Profit Margin	32.74%	97.53%	94.17%
Selling, General & Admin	$5.926M	$7.404M	$6.754M
YoY Change	17.7%	9.62%	153.29%
% of Gross Profit	1340.72%	226.28%	536.03%
Research & Development	$10.55M	$12.57M	$5.917M
YoY Change	18.92%	112.42%	59.38%
% of Gross Profit	2387.1%	384.14%	469.6%
Depreciation & Amortization	$455.0K	$456.0K	$879.0K
YoY Change	6.83%	-48.12%	-20.1%
% of Gross Profit	102.94%	13.94%	69.76%
Operating Expenses	$16.48M	$19.97M	$12.67M
YoY Change	18.48%	57.63%	21.54%
Operating Profit	-$16.46M	-$17.13M	-$11.82M
YoY Change	24.0%	44.98%	363.68%
Interest Expense	-$985.0K	-$239.0K	$9.000K
YoY Change		-2755.56%	-76.57%
% of Operating Profit
Other Income/Expense, Net	-$1.000M	-$244.0K	-$1.465M
YoY Change	-5363.16%	-83.34%	-2655.74%
Pretax Income	-$17.46M	-$17.37M	-$13.28M
YoY Change	31.72%	30.82%	433.17%
Income Tax	$8.000K	-$200.0K	-$500.0K
% Of Pretax Income
Net Earnings	-$17.40M	-$17.11M	-$13.28M
YoY Change	29.24%	28.79%	113.41%
Net Earnings / Revenue	-1288.52%	-509.84%	-992.6%
Basic Earnings Per Share
Diluted Earnings Per Share	-$2.077M	-$2.134M	-$211.5K
COMMON SHARES
Basic Shares Outstanding	96.01M shares	95.47M shares	59.61M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2021 Q3	2021 Q2	2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$71.51M	$40.44M	$45.39M
YoY Change	114.14%	-10.92%	383.39%
Cash & Equivalents	$71.50M	$40.44M	$45.39M
Short-Term Investments			$0.00
Other Short-Term Assets	$1.572M	$1.791M	$857.4K
YoY Change	-6.2%	108.9%	-4.74%
Inventory	$16.00K	$20.00K	$12.20K
Prepaid Expenses
Receivables	$1.435M	$4.120M	$2.032M
Other Receivables	$2.477M	$998.0K	$1.953M
Total Short-Term Assets	$77.01M	$47.36M	$50.24M
YoY Change	87.67%	-5.73%	261.5%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.410M	$1.431M	$1.741M
YoY Change	-17.44%	-17.79%	14.08%
Goodwill	$14.41M	$14.41M	$14.41M
YoY Change	0.0%	0.0%	-12.2%
Intangibles	$304.0K	$732.0K	$2.292M
YoY Change	-83.9%	-68.07%	-91.7%
Long-Term Investments
YoY Change
Other Assets	$2.227M	$149.0K	$518.1K
YoY Change	1398.25%	-71.24%	245.42%
Total Long-Term Assets	$18.35M	$16.72M	$18.96M
YoY Change	1.08%	-11.81%	-58.53%
TOTAL ASSETS
Total Short-Term Assets	$77.01M	$47.36M	$50.24M
Total Long-Term Assets	$18.35M	$16.72M	$18.96M
Total Assets	$95.36M	$64.09M	$69.20M
YoY Change	61.11%	-7.4%	16.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$3.568M	$3.965M	$2.558M
YoY Change	85.16%	55.02%	76.95%
Accrued Expenses	$14.81M	$17.61M	$6.488M
YoY Change	68.06%	171.45%	-42.02%
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	$19.04M	$21.67M	$14.60M
YoY Change	14.88%	48.5%	-22.22%
LONG-TERM LIABILITIES
Long-Term Debt	$32.48M	$17.14M	$0.00
YoY Change			-100.0%
Other Long-Term Liabilities	$1.396M	$1.558M	$2.032M
YoY Change	-27.81%	-23.31%	67.58%
Total Long-Term Liabilities	$1.396M	$1.558M	$2.032M
YoY Change	-27.81%	-23.31%	-86.89%
TOTAL LIABILITIES
Total Short-Term Liabilities	$19.04M	$21.67M	$14.60M
Total Long-Term Liabilities	$1.396M	$1.558M	$2.032M
Total Liabilities	$55.05M	$42.50M	$18.63M
YoY Change	166.96%	128.15%	-55.57%
SHAREHOLDERS EQUITY
Retained Earnings	-$243.0M	-$225.6M	-$148.7M
YoY Change	49.91%	51.71%	32.89%
Common Stock	$112.0K	$96.00K	$74.90K
YoY Change	49.53%	28.17%	74.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$40.31M	$21.59M	$50.58M
YoY Change
Total Liabilities & Shareholders Equity	$95.36M	$64.09M	$69.20M
YoY Change	61.11%	-7.4%	16.07%

Cashflow Statement

Concept	2021 Q3	2021 Q2	2020 Q2
OPERATING ACTIVITIES
Net Income	-$17.40M	-$17.11M	-$13.28M
YoY Change	29.24%	28.79%	113.41%
Depreciation, Depletion And Amortization	$455.0K	$456.0K	$879.0K
YoY Change	6.83%	-48.12%	-20.1%
Cash From Operating Activities	-$16.29M	-$19.19M	-$14.29M
YoY Change	37.24%	34.23%	112.71%
INVESTING ACTIVITIES
Capital Expenditures	-$81.00K	$0.00	$0.00
YoY Change	29.27%		-100.0%
Acquisitions
YoY Change
Other Investing Activities	$0.00		$11.59M
YoY Change
Cash From Investing Activities	-$81.00K	$0.00	$11.59M
YoY Change	29.27%	-100.0%	-12973.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	47.64M	21.22M	44.58M
YoY Change		-52.41%	49437.24%
NET CHANGE
Cash From Operating Activities	-16.29M	-19.19M	-14.29M
Cash From Investing Activities	-81.00K	0.000	11.59M
Cash From Financing Activities	47.64M	21.22M	44.58M
Net Change In Cash	31.27M	2.031M	41.88M
YoY Change	-362.08%	-95.15%	-723.15%
FREE CASH FLOW
Cash From Operating Activities	-$16.29M	-$19.19M	-$14.29M
Capital Expenditures	-$81.00K	$0.00	$0.00
Free Cash Flow	-$16.21M	-$19.19M	-$14.29M
YoY Change	37.28%	34.23%	109.9%

Facts In Submission

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CY2021Q2	us-gaap	Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity	69000	USD
CY2020Q2	us-gaap	Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity	-455000	USD
	us-gaap	Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity	-38000	USD
	us-gaap	Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity	582000	USD
CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	-17105000	USD
CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	-17105000	USD
CY2020Q2	us-gaap	Net Income Loss NetIncomeLoss	-13281000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-47785000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-34398000	USD
CY2021Q1	us-gaap	Stockholders Equity StockholdersEquity	33155000	USD
CY2021Q2	us-gaap	Stock Issued During Period Value Conversion Of Units StockIssuedDuringPeriodValueConversionOfUnits	0	USD
CY2021Q2	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	207000	USD
CY2021Q2	us-gaap	Adjustments To Additional Paid In Capital Warrant Issued AdjustmentsToAdditionalPaidInCapitalWarrantIssued	861000	USD
CY2021Q2	cerc	Stock Issued During Period Value Stock Options And Warrants Exercised StockIssuedDuringPeriodValueStockOptionsAndWarrantsExercised	1396000	USD
CY2021Q2	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition	3074000	USD
CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	-17105000	USD
CY2021Q2	us-gaap	Stockholders Equity StockholdersEquity	21588000	USD
CY2020Q4	us-gaap	Stockholders Equity StockholdersEquity	24562000	USD
	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	37653000	USD
	us-gaap	Stock Issued During Period Value Conversion Of Units StockIssuedDuringPeriodValueConversionOfUnits	0	USD
	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	207000	USD
	us-gaap	Adjustments To Additional Paid In Capital Warrant Issued AdjustmentsToAdditionalPaidInCapitalWarrantIssued	861000	USD
	cerc	Stock Issued During Period Value Stock Options And Warrants Exercised StockIssuedDuringPeriodValueStockOptionsAndWarrantsExercised	1568000	USD
	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition	4522000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-47785000	USD
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CY2020Q2	cerc	Stock Issued During Period Value Stock Options And Warrants Exercised StockIssuedDuringPeriodValueStockOptionsAndWarrantsExercised	18000	USD
CY2020Q2	us-gaap	Adjustments Related To Tax Withholding For Share Based Compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	94000	USD
CY2020Q2	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	133000	USD
CY2020Q2	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition	2786000	USD
CY2020Q2	us-gaap	Net Income Loss NetIncomeLoss	-13281000	USD
CY2020Q2	us-gaap	Stockholders Equity StockholdersEquity	50578000	USD
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	us-gaap	Stock Issued During Period Value Acquisitions StockIssuedDuringPeriodValueAcquisitions	15496000	USD
	cerc	Issuance Of Shares Value Pursuant To Registered Direct Offering IssuanceOfSharesValuePursuantToRegisteredDirectOffering	5136000	USD
	cerc	Stock Issued During Period Value New Issues Private Placement StockIssuedDuringPeriodValueNewIssuesPrivatePlacement	3888000	USD
	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	35428000	USD
	cerc	Stock Issued During Period Value Stock Options And Warrants Exercised StockIssuedDuringPeriodValueStockOptionsAndWarrantsExercised	92000	USD
	us-gaap	Adjustments Related To Tax Withholding For Share Based Compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	94000	USD
	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	133000	USD
	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition	3902000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-34398000	USD
CY2020Q2	us-gaap	Stockholders Equity StockholdersEquity	50578000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-47785000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-34398000	USD
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	907000	USD
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	879000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	4522000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	3902000	USD
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	104000	USD
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	0	USD
	us-gaap	Research And Development In Process ResearchAndDevelopmentInProcess	0	USD
	us-gaap	Research And Development In Process ResearchAndDevelopmentInProcess	25549000	USD
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	31000	USD
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	-424000	USD
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	us-gaap	Equity Securities Fv Ni Gain Loss EquitySecuritiesFvNiGainLoss	5208000	USD
	cerc	Fair Value Adjustment Of Warrants And Investor Rights Obligation FairValueAdjustmentOfWarrantsAndInvestorRightsObligation	0	USD
	cerc	Fair Value Adjustment Of Warrants And Investor Rights Obligation FairValueAdjustmentOfWarrantsAndInvestorRightsObligation	-14000	USD
	cerc	Disposal Group Including Discontinued Operation Change In Fair Value Of Guarantee DisposalGroupIncludingDiscontinuedOperationChangeInFairValueOfGuarantee	0	USD
	cerc	Disposal Group Including Discontinued Operation Change In Fair Value Of Guarantee DisposalGroupIncludingDiscontinuedOperationChangeInFairValueOfGuarantee	1755000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	1943000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	532000	USD
	us-gaap	Increase Decrease In Other Receivables IncreaseDecreaseInOtherReceivables	-1210000	USD
	us-gaap	Increase Decrease In Other Receivables IncreaseDecreaseInOtherReceivables	1852000	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	17000	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-9000	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-910000	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	24000	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-324000	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	83000	USD
	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	0	USD
	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	288000	USD
	us-gaap	Increase Decrease In Other Accounts Payable And Accrued Liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities	4916000	USD
	us-gaap	Increase Decrease In Other Accounts Payable And Accrued Liabilities IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities	-815000	USD
	cerc	Increase Decrease In Lease Liability IncreaseDecreaseInLeaseLiability	-34000	USD
	cerc	Increase Decrease In Lease Liability IncreaseDecreaseInLeaseLiability	18000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-37503000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-14294000	USD
	us-gaap	Proceeds From Sale Of Equity Method Investments ProceedsFromSaleOfEquityMethodInvestments	0	USD
	us-gaap	Proceeds From Sale Of Equity Method Investments ProceedsFromSaleOfEquityMethodInvestments	12837000	USD
	cerc	Payments For Asset Acquisitions PaymentsForAssetAcquisitions	0	USD
	cerc	Payments For Asset Acquisitions PaymentsForAssetAcquisitions	1251000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	21000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	0	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-21000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	11586000	USD
	cerc	Proceeds From Issuance Of Common Stock And Warrants ProceedsFromIssuanceOfCommonStockAndWarrants	37653000	USD
	cerc	Proceeds From Issuance Of Common Stock And Warrants ProceedsFromIssuanceOfCommonStockAndWarrants	0	USD
	cerc	Proceeds From Venture Debt Financing Agreement ProceedsFromVentureDebtFinancingAgreement	19615000	USD
	cerc	Proceeds From Venture Debt Financing Agreement ProceedsFromVentureDebtFinancingAgreement	0	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	0	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	35428000	USD
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	us-gaap	Income Taxes Paid IncomeTaxesPaid	0	USD
	cerc	Proceeds From Registered Direct Offering ProceedsFromRegisteredDirectOffering	5136000	USD
	us-gaap	Proceeds From Issuance Of Private Placement ProceedsFromIssuanceOfPrivatePlacement	0	USD
	us-gaap	Proceeds From Issuance Of Private Placement ProceedsFromIssuanceOfPrivatePlacement	3888000	USD
	cerc	Proceeds From Option Or Warrant Exercises ProceedsFromOptionOrWarrantExercises	1568000	USD
	cerc	Proceeds From Option Or Warrant Exercises ProceedsFromOptionOrWarrantExercises	92000	USD
	us-gaap	Proceeds From Stock Plans ProceedsFromStockPlans	207000	USD
	us-gaap	Proceeds From Stock Plans ProceedsFromStockPlans	133000	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	0	USD
	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	94000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	59043000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	44583000	USD
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	21519000	USD
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	41875000	USD
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	19106000	USD
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	3729000	USD
CY2021Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	40625000	USD
CY2020Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	45604000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-47800000	USD
	us-gaap	Income Taxes Paid IncomeTaxesPaid	316000	USD
	us-gaap	Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction	1715000	USD
	us-gaap	Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction	0	USD
	us-gaap	Stock Issued1 StockIssued1	0	USD
	us-gaap	Stock Issued1 StockIssued1	15496000	USD
	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	0	USD
	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	376000	USD
CY2021Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	40435000	USD
CY2020Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	45391000	USD
CY2021Q2	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	41000	USD
CY2020Q2	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	33000	USD
CY2021Q2	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	149000	USD
CY2020Q2	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	180000	USD
CY2021Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	40625000	USD
CY2020Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	45604000	USD
	us-gaap	Nature Of Operations NatureOfOperations	Business<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">Cerecor Inc. (the “Company” or “Cerecor”) is a biopharmaceutical company focused on becoming a leader in the development and commercialization of treatments for immunologic, immuno-oncologic and rare genetic disorders. The Company is advancing its clinical-stage pipeline of innovative therapies that address unmet patient needs within rare and orphan diseases. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The Company’s rare disease pipeline includes CERC-801, CERC-802 and CERC-803 (“CERC-800 compounds”), which are in development for congenital disorders of glycosylation and CERC-006, an oral mTORc1/c2 inhibitor in development for the treatment of complex lymphatic malformations. The Company is also developing two monoclonal antibodies, CERC-002 and CERC-007. CERC-002, targets the cytokine LIGHT (TNFSF14) and is in clinical development for treatment of inflammatory bowel disease and COVID-19 acute respiratory distress syndrome. CERC-007 targets the cytokine IL-18 and is in clinical development for the treatment of Still’s disease (adult onset Still’s disease and systemic juvenile idiopathic arthritis) and multiple myeloma. CERC-006, 801, 802 and 803 have all received Orphan Drug Designation and Rare Pediatric Disease Designation, which makes all four eligible for a priority review voucher (“PRV”) upon approval from the U.S. Food and Drug Administration (“FDA”). </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The Company has one commercialized product, Millipred</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:107%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">, a non-core asset, which is an oral prednisolone indicated across a wide variety of inflammatory conditions. </span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cerecor was incorporated and commenced operation in 2011 and completed its initial public offering in October 2015.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">As of June 30, 2021, Cerecor had $40.4 million in cash and cash equivalents. In June 2021, the Company entered into a $35.0 million venture debt financing agreement (the “Loan Agreement”) with Horizon Technology Finance Corporation (“Horizon”) and Powerscourt Investments XXV, LP (“Powerscourt, together with Horizon, the “Lenders”). In accordance with the Loan Agreement, $20.0 million of the $35.0 million loan was funded on the closing date (the “Initial Note”), with the remaining $15.0 million fundable upon the Company achieving certain predetermined milestones. The Company received net proceeds of $19.6 million in the second quarter of 2021 and will pay approximately $1.7 million of debt issuance costs in the third quarter of 2021, for total expected net proceeds of $17.9 million (related to the Initial Note funded in the second quarter). The Loan Agreement contains certain covenants and certain other specified events that could result in an event of default, which if not cured or waived, could results in the acceleration of all or a substantial portion of the notes. As of June 30, 2021, the Company did not breach any covenants or specified event that could result in an event of default.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In the third quarter of 2021, the Company received $10.0 million in gross proceeds (the “Second Note”) under the Loan Agreement. The Second Note was made available in connection with the Company’s successful positive initial results from a Phase1b proof-of-concept study evaluating CERC-002 in adult patients with moderate-to-severe Crohn’s disease.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In January 2021, the Company closed an underwritten public offering of 13,971,889 shares of its common stock and 1,676,923 pre-funded warrants for net proceeds of approximately $37.7 million. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to meet its cash flow needs, the Company applies a disciplined decision-making methodology as it evaluates the optimal allocation of the Company’s resources between investing in the Company’s existing pipeline assets and acquisitions or in-licensing of new assets. For the six months ended June 30, 2021, Cerecor generated a net loss of $47.8 million and negative cash flows from operations of $37.5 million. As of June 30, 2021, Cerecor had an accumulated deficit of $225.6 million.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern; however, losses are expected to continue as the Company continues to invest in its research and development pipeline assets. The Company will require additional financing to fund its operations and to continue to execute its business strategy at least one year after the date the condensed consolidated financial statements included herein were issued. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To mitigate these conditions and to meet the Company’s capital requirements, management plans to use its current cash on hand along with some combination of the following: (i) dilutive and/or non-dilutive financings, (ii) federal and/or private grants, (iii) other out-licensing or strategic alliances/collaborations of its current pipeline assets, and (iv) out-licensing or sale of its non-core assets. If the Company raises additional funds through collaborations, strategic alliances or licensing arrangements with third parties, the Company might have to relinquish valuable rights to its technologies, future revenue streams, research programs or product candidates. Subject </span></div>to limited exceptions, our venture debt financing agreement prohibits us from incurring certain additional indebtedness, making certain asset dispositions, and entering into certain mergers, acquisitions or other business combination transactions without prior consent of the Lender. If the Company requires but is unable to obtain additional funding, the Company may be forced to make reductions in spending, delay, suspend, reduce or eliminate some or all of its planned research and development programs, or liquidate assets where possible. Due to the uncertainty regarding future financing and other potential options to raise additional funds, management has concluded that substantial doubt exists with respect to the Company’s ability to continue as a going concern within one year after the date that the financial statements in this Quarterly Report were issued. Over the long term, the Company’s ultimate ability to achieve and maintain profitability will depend on, among other things, the development, regulatory approval, and commercialization of its pipeline assets, and the potential receipt and sale of any PRVs it receives.
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CY2020Q2	us-gaap	Operating Lease Cost OperatingLeaseCost	87000	USD
	us-gaap	Operating Lease Cost OperatingLeaseCost	190000	USD
	us-gaap	Operating Lease Cost OperatingLeaseCost	142000	USD
CY2021Q2	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	202000	USD
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CY2021Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Five LesseeOperatingLeaseLiabilityPaymentsDueYearFive	192000	USD
CY2021Q2	us-gaap	Lessee Operating Lease Liability Payments Due After Year Five LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive	621000	USD
CY2021Q2	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	1737000	USD
CY2021Q2	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	451000	USD
CY2021Q2	us-gaap	Operating Lease Liability OperatingLeaseLiability	1286000	USD
CY2021Q2	cerc	Accrued Research And Development AccruedResearchAndDevelopment	9838000	USD
CY2020Q4	cerc	Accrued Research And Development AccruedResearchAndDevelopment	4939000	USD
CY2021Q2	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	2566000	USD
CY2020Q4	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	3119000	USD
CY2021Q2	cerc	Accrued General And Administrative Expenses AccruedGeneralAndAdministrativeExpenses	2217000	USD
CY2020Q4	cerc	Accrued General And Administrative Expenses AccruedGeneralAndAdministrativeExpenses	771000	USD
CY2021Q2	us-gaap	Accrued Marketing Costs Current AccruedMarketingCostsCurrent	246000	USD
CY2020Q4	us-gaap	Accrued Marketing Costs Current AccruedMarketingCostsCurrent	31000	USD
CY2021Q2	cerc	Commercial Operations Current CommercialOperationsCurrent	2451000	USD
CY2020Q4	cerc	Commercial Operations Current CommercialOperationsCurrent	1913000	USD
CY2021Q2	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	288000	USD
CY2020Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	426000	USD
CY2021Q2	us-gaap	Other Accrued Liabilities Current And Noncurrent OtherAccruedLiabilitiesCurrentAndNoncurrent	5000	USD
CY2020Q4	us-gaap	Other Accrued Liabilities Current And Noncurrent OtherAccruedLiabilitiesCurrentAndNoncurrent	111000	USD
CY2021Q2	us-gaap	Accrued Liabilities And Other Liabilities AccruedLiabilitiesAndOtherLiabilities	17611000	USD
CY2020Q4	us-gaap	Accrued Liabilities And Other Liabilities AccruedLiabilitiesAndOtherLiabilities	11310000	USD
CY2021Q2	cerc	Number Of Class Of Stock Authorized NumberOfClassOfStockAuthorized	2	class_of_stock
CY2021Q2	cerc	Capital Stock Shares Authorized CapitalStockSharesAuthorized	205000000	shares
CY2021Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	200000000	shares
CY2021Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	5000000	shares
CY2021Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2021Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2021Q1	us-gaap	Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1 ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1	0.001
CY2021Q1	cerc	Class Of Warrant Or Right Percent Ownership Threshold ClassOfWarrantOrRightPercentOwnershipThreshold	0.0999
CY2021Q1	us-gaap	Proceeds From Issuance Of Warrants ProceedsFromIssuanceOfWarrants	4400000	USD
	cerc	Share Based Compensation Arrangement By Share Based Payment Award Share Reserve Increase As Percent ShareBasedCompensationArrangementByShareBasedPaymentAwardShareReserveIncreaseAsPercent	0.04
CY2021Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant	2576435	shares
CY2021Q2	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	3074000	USD
CY2020Q2	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	2786000	USD
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	4522000	USD
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	3902000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-200000	USD
CY2021Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-200000	USD
CY2020Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-500000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-2600000	USD
CY2019Q3	cerc	Royalty Agreement Payment Received RoyaltyAgreementPaymentReceived	2000000.0	USD
CY2019Q3	cerc	Royalty Agreement Period After Public Launch To Terminate Agreement RoyaltyAgreementPeriodAfterPublicLaunchToTerminateAgreement	P3Y
CY2019Q3	cerc	Royalty Agreement Buyout Option Percentage Of Net Present Value Of Royalty Payments RoyaltyAgreementBuyoutOptionPercentageOfNetPresentValueOfRoyaltyPayments	0.75

Files In Submission

Name	View Source	Status
0001628280-21-015170-index-headers.html	Edgar Link	pending
0001628280-21-015170-index.html	Edgar Link	pending
0001628280-21-015170.txt	Edgar Link	pending
0001628280-21-015170-xbrl.zip	Edgar Link	pending
cerc-20210630.htm	Edgar Link	pending
cerc-20210630.xsd	Edgar Link	pending
cerc-20210630_cal.xml	Edgar Link	unprocessable
cerc-20210630_def.xml	Edgar Link	unprocessable
cerc-20210630_g1.jpg	Edgar Link	pending
cerc-20210630_htm.xml	Edgar Link	completed
cerc-20210630_lab.xml	Edgar Link	unprocessable
cerc-20210630_pre.xml	Edgar Link	unprocessable
ex-101sbplicenseagreement.htm	Edgar Link	pending
ex-102ventureloanandsecuri.htm	Edgar Link	pending
ex-103medimmuneamendno1.htm	Edgar Link	pending
ex-3122q2021cerc.htm	Edgar Link	pending
ex-3212q2021cerc.htm	Edgar Link	pending
ex3112q2021cerc.htm	Edgar Link	pending
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
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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
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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
R49.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R50.htm	Edgar Link	pending
R51.htm	Edgar Link	pending
R52.htm	Edgar Link	pending
R53.htm	Edgar Link	pending
R54.htm	Edgar Link	pending
R55.htm	Edgar Link	pending
R56.htm	Edgar Link	pending
R57.htm	Edgar Link	pending
R58.htm	Edgar Link	pending
R59.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

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$AVTX
Avalo Therapeutics, Inc. Stock $avtx

2021 Q3 Form 10-Q Financial Statement

#000162828021015170 Filed on August 02, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$AVTX Avalo Therapeutics, Inc. Stock $avtx

2021 Q3 Form 10-Q Financial Statement

#000162828021015170 Filed on August 02, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$AVTX
Avalo Therapeutics, Inc. Stock $avtx