2023 Q2 Form 10-Q Financial Statement
#000162828023015703 Filed on May 04, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q4 |
---|---|---|---|
Revenue | $643.0K | $475.0K | $896.0K |
YoY Change | -37.75% | -59.51% | 309.13% |
Cost Of Revenue | $708.0K | $551.0K | $620.0K |
YoY Change | -54.82% | -23.47% | 46.23% |
Gross Profit | -$65.00K | -$76.00K | $276.0K |
YoY Change | -87.83% | -116.78% | -234.63% |
Gross Profit Margin | -10.11% | -16.0% | 30.8% |
Selling, General & Admin | $2.427M | $2.708M | $2.959M |
YoY Change | -12.82% | -76.82% | -50.53% |
% of Gross Profit | 1072.1% | ||
Research & Development | $4.658M | $6.008M | $6.172M |
YoY Change | -45.26% | -37.31% | -46.38% |
% of Gross Profit | 2236.23% | ||
Depreciation & Amortization | $41.00K | $33.00K | $35.00K |
YoY Change | 36.67% | -50.75% | -88.14% |
% of Gross Profit | 12.68% | ||
Operating Expenses | $7.085M | $8.716M | $9.131M |
YoY Change | -37.27% | -59.02% | -48.58% |
Operating Profit | -$7.150M | -$8.792M | -$8.855M |
YoY Change | -39.55% | -57.84% | -50.7% |
Interest Expense | -$1.036M | -$949.0K | -$949.0K |
YoY Change | -10.23% | -18.82% | -19.85% |
% of Operating Profit | |||
Other Income/Expense, Net | $0.00 | -$1.155M | $0.00 |
YoY Change | -100.0% | -2.86% | |
Pretax Income | -$8.186M | -$9.947M | -$9.804M |
YoY Change | -36.94% | -54.87% | -48.8% |
Income Tax | $7.000K | $8.000K | $8.000K |
% Of Pretax Income | |||
Net Earnings | -$8.193M | -$9.955M | -$9.812M |
YoY Change | -36.91% | -54.95% | -48.89% |
Net Earnings / Revenue | -1274.18% | -2095.79% | -1095.09% |
Basic Earnings Per Share | -$0.59 | -$0.85 | |
Diluted Earnings Per Share | -$0.59 | -$0.85 | -$1.04 |
COMMON SHARES | |||
Basic Shares Outstanding | 13.20M shares | 13.20M shares | 9.414M shares |
Diluted Shares Outstanding | 13.97M shares | 11.72M shares |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 | 2022 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $6.307M | $16.69M | $13.17M |
YoY Change | -43.93% | -56.62% | -75.87% |
Cash & Equivalents | $6.307M | $16.70M | $13.17M |
Short-Term Investments | |||
Other Short-Term Assets | $1.150M | $1.690M | $1.305M |
YoY Change | -39.44% | -39.25% | -46.14% |
Inventory | $18.00K | $19.00K | $20.00K |
Prepaid Expenses | |||
Receivables | $38.00K | $0.00 | |
Other Receivables | $6.000K | $857.0K | $1.919M |
Total Short-Term Assets | $7.519M | $19.25M | $16.42M |
YoY Change | -49.94% | -55.9% | -73.46% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $2.176M | $2.442M | $2.411M |
YoY Change | -15.23% | -6.22% | -10.54% |
Goodwill | $14.41M | $14.41M | $14.41M |
YoY Change | 0.0% | 0.0% | 0.0% |
Intangibles | $0.00 | ||
YoY Change | -100.0% | ||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $131.0K | $131.0K | $131.0K |
YoY Change | -42.29% | -89.32% | -89.32% |
Total Long-Term Assets | $16.72M | $16.98M | $16.95M |
YoY Change | -2.83% | -6.9% | -7.72% |
TOTAL ASSETS | |||
Total Short-Term Assets | $7.519M | $19.25M | $16.42M |
Total Long-Term Assets | $16.72M | $16.98M | $16.95M |
Total Assets | $24.24M | $36.24M | $33.37M |
YoY Change | -24.79% | -41.46% | -58.4% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $751.0K | $5.565M | $2.882M |
YoY Change | -65.3% | 48.12% | -14.46% |
Accrued Expenses | $6.981M | $7.828M | $12.71M |
YoY Change | -46.09% | -42.84% | -21.3% |
Deferred Revenue | $0.00 | $111.0K | $88.00K |
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $14.12M | $9.296M | $5.930M |
YoY Change | |||
Total Short-Term Liabilities | $22.45M | $23.25M | $22.11M |
YoY Change | 45.85% | 29.91% | 11.19% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $10.47M | $13.49M |
YoY Change | -100.0% | -68.45% | -58.93% |
Other Long-Term Liabilities | $8.594M | $1.629M | $1.711M |
YoY Change | 343.22% | -30.92% | -25.54% |
Total Long-Term Liabilities | $8.594M | $1.629M | $1.711M |
YoY Change | 343.22% | -30.92% | -25.54% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $22.45M | $23.25M | $22.11M |
Total Long-Term Liabilities | $8.594M | $1.629M | $1.711M |
Total Liabilities | $31.20M | $42.50M | $44.28M |
YoY Change | -18.26% | -23.5% | -22.49% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$321.7M | -$313.8M | -$303.8M |
YoY Change | 8.26% | 10.42% | 15.89% |
Common Stock | $14.00K | $13.00K | $9.000K |
YoY Change | 55.56% | -88.5% | 0.0% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$6.969M | -$6.267M | -$10.92M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $24.24M | $36.24M | $33.37M |
YoY Change | -24.79% | -41.46% | -58.4% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$8.193M | -$9.955M | -$9.812M |
YoY Change | -36.91% | -54.95% | -48.89% |
Depreciation, Depletion And Amortization | $41.00K | $33.00K | $35.00K |
YoY Change | 36.67% | -50.75% | -88.14% |
Cash From Operating Activities | -$11.03M | -$10.10M | -$3.940M |
YoY Change | -11.58% | -37.27% | -76.96% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | $158.0K | $0.00 |
YoY Change | -100.0% | -100.0% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $25.00K | |
YoY Change | |||
Cash From Investing Activities | $0.00 | -$133.0K | $0.00 |
YoY Change | -100.0% | -100.0% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 598.0K | $13.75M | 82.00K |
YoY Change | -104.05% | 7.89% | |
NET CHANGE | |||
Cash From Operating Activities | -11.03M | -$10.10M | -3.940M |
Cash From Investing Activities | 0.000 | -$133.0K | 0.000 |
Cash From Financing Activities | 598.0K | $13.75M | 82.00K |
Net Change In Cash | -10.43M | $3.563M | -3.858M |
YoY Change | -61.81% | -122.18% | -77.35% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$11.03M | -$10.10M | -$3.940M |
Capital Expenditures | $0.00 | $158.0K | $0.00 |
Free Cash Flow | -$11.03M | -$10.26M | -$3.940M |
YoY Change | -11.18% | -36.29% | -76.94% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2023Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001534120 | |
CY2023Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2023Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2023 | |
CY2023Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2023Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2022Q3 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
0.0833 | |
CY2022Q3 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
0.0833 | |
CY2022Q3 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
0.0833 | |
CY2023Q1 | us-gaap |
Derivative Liability Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration
|
http://fasb.org/us-gaap/2022#DerivativeLiabilitiesNoncurrent | |
CY2022Q4 | us-gaap |
Derivative Liability Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration
|
http://fasb.org/us-gaap/2022#DerivativeLiabilitiesNoncurrent | |
CY2023Q1 | us-gaap |
Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
|
http://www.avalotherapeutics.com/20230331#PropertyPlantAndEquipmentAndOperatingLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization | |
CY2022Q4 | us-gaap |
Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
|
http://www.avalotherapeutics.com/20230331#PropertyPlantAndEquipmentAndOperatingLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization | |
CY2022Q4 | us-gaap |
Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
|
http://fasb.org/us-gaap/2022#AccruedLiabilitiesAndOtherLiabilities | |
CY2023Q1 | us-gaap |
Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
|
http://fasb.org/us-gaap/2022#AccruedLiabilitiesAndOtherLiabilities | |
CY2023Q1 | us-gaap |
Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
|
http://fasb.org/us-gaap/2022#OtherLiabilitiesNoncurrent | |
CY2022Q4 | us-gaap |
Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
|
http://fasb.org/us-gaap/2022#OtherLiabilitiesNoncurrent | |
CY2023Q1 | dei |
Document Type
DocumentType
|
10-Q | |
CY2023Q1 | dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | |
CY2023Q1 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2023-03-31 | |
CY2023Q1 | dei |
Document Transition Report
DocumentTransitionReport
|
false | |
CY2023Q1 | dei |
Entity File Number
EntityFileNumber
|
001-37590 | |
CY2023Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
AVALO THERAPEUTICS, INC. | |
CY2023Q1 | dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
DE | |
CY2023Q1 | dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
45-0705648 | |
CY2023Q1 | dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
540 Gaither Road, Suite 400 | |
CY2023Q1 | dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Rockville | |
CY2023Q1 | dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
MD | |
CY2023Q1 | dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
20850 | |
CY2023Q1 | dei |
City Area Code
CityAreaCode
|
410 | |
CY2023Q1 | dei |
Local Phone Number
LocalPhoneNumber
|
522-8707 | |
CY2023Q1 | dei |
Security12b Title
Security12bTitle
|
Common Stock, $0.001 par value | |
CY2023Q1 | dei |
Trading Symbol
TradingSymbol
|
AVTX | |
CY2023Q1 | dei |
Security Exchange Name
SecurityExchangeName
|
NASDAQ | |
CY2023Q1 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
CY2023Q1 | dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | |
CY2023Q1 | dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | |
CY2023Q1 | dei |
Entity Small Business
EntitySmallBusiness
|
true | |
CY2023Q1 | dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
false | |
CY2023Q1 | dei |
Entity Shell Company
EntityShellCompany
|
false | |
CY2023Q2 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
13200535 | shares |
CY2023Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
16687000 | usd |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
13172000 | usd |
CY2023Q1 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
857000 | usd |
CY2022Q4 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
1919000 | usd |
CY2023Q1 | us-gaap |
Inventory Net
InventoryNet
|
19000 | usd |
CY2022Q4 | us-gaap |
Inventory Net
InventoryNet
|
20000 | usd |
CY2023Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1627000 | usd |
CY2022Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1290000 | usd |
CY2023Q1 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
63000 | usd |
CY2022Q4 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
15000 | usd |
CY2023Q1 | us-gaap |
Assets Current
AssetsCurrent
|
19253000 | usd |
CY2022Q4 | us-gaap |
Assets Current
AssetsCurrent
|
16416000 | usd |
CY2023Q1 | avtx |
Property Plant And Equipment And Operating Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndOperatingLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
|
2442000 | usd |
CY2022Q4 | avtx |
Property Plant And Equipment And Operating Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndOperatingLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
|
2411000 | usd |
CY2023Q1 | us-gaap |
Goodwill
Goodwill
|
14409000 | usd |
CY2022Q4 | us-gaap |
Goodwill
Goodwill
|
14409000 | usd |
CY2023Q1 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
131000 | usd |
CY2022Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
131000 | usd |
CY2023Q1 | us-gaap |
Assets
Assets
|
36235000 | usd |
CY2022Q4 | us-gaap |
Assets
Assets
|
33367000 | usd |
CY2023Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
5565000 | usd |
CY2022Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
2882000 | usd |
CY2023Q1 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
111000 | usd |
CY2022Q4 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
88000 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
8273000 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
13214000 | usd |
CY2023Q1 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
9296000 | usd |
CY2022Q4 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
5930000 | usd |
CY2023Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
23245000 | usd |
CY2022Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
22114000 | usd |
CY2023Q1 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
10470000 | usd |
CY2022Q4 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
13486000 | usd |
CY2023Q1 | us-gaap |
Accrued Royalties Current And Noncurrent
AccruedRoyaltiesCurrentAndNoncurrent
|
2000000 | usd |
CY2022Q4 | us-gaap |
Accrued Royalties Current And Noncurrent
AccruedRoyaltiesCurrentAndNoncurrent
|
2000000 | usd |
CY2023Q1 | us-gaap |
Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
|
148000 | usd |
CY2022Q4 | us-gaap |
Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
|
141000 | usd |
CY2023Q1 | us-gaap |
Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
|
5010000 | usd |
CY2022Q4 | us-gaap |
Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
|
4830000 | usd |
CY2023Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
1629000 | usd |
CY2022Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
1711000 | usd |
CY2023Q1 | us-gaap |
Liabilities
Liabilities
|
42502000 | usd |
CY2022Q4 | us-gaap |
Liabilities
Liabilities
|
44282000 | usd |
CY2023Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
13200535 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
13200535 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
9430535 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
9430535 | shares |
CY2023Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
13000 | usd |
CY2022Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
9000 | usd |
CY2023Q1 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
307499000 | usd |
CY2022Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
292900000 | usd |
CY2023Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-313779000 | usd |
CY2022Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-303824000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-6267000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-10915000 | usd |
CY2023Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
36235000 | usd |
CY2022Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
33367000 | usd |
CY2023Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
475000 | usd |
CY2022Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
1173000 | usd |
CY2023Q1 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
551000 | usd |
CY2022Q1 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
720000 | usd |
CY2023Q1 | us-gaap |
Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
|
6008000 | usd |
CY2022Q1 | us-gaap |
Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
|
9584000 | usd |
CY2023Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
2708000 | usd |
CY2022Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
11684000 | usd |
CY2023Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
0 | usd |
CY2022Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
38000 | usd |
CY2023Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
9267000 | usd |
CY2022Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
22026000 | usd |
CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-8792000 | usd |
CY2022Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-20853000 | usd |
CY2023Q1 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-949000 | usd |
CY2022Q1 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-1169000 | usd |
CY2023Q1 | us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings
|
-180000 | usd |
CY2022Q1 | us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings
|
0 | usd |
CY2023Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-26000 | usd |
CY2022Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-20000 | usd |
CY2023Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1155000 | usd |
CY2022Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1189000 | usd |
CY2023Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-9947000 | usd |
CY2022Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-22042000 | usd |
CY2023Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
8000 | usd |
CY2022Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
9000 | usd |
CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-9955000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9955000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-22051000 | usd |
CY2022Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-22051000 | usd |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.85 | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.85 | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-2.35 | |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-2.35 | |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-10915000 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
13748000 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
855000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9955000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-6267000 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
23082000 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
5312000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-22051000 | usd |
CY2022Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-22051000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-22051000 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6343000 | usd |
CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-9955000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9955000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-22051000 | usd |
CY2022Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-22051000 | usd |
CY2023Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
33000 | usd |
CY2022Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
67000 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
855000 | usd |
CY2022Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
5312000 | usd |
CY2023Q1 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
350000 | usd |
CY2022Q1 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
350000 | usd |
CY2023Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
8000 | usd |
CY2022Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
9000 | usd |
CY2023Q1 | us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings
|
-180000 | usd |
CY2022Q1 | us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings
|
0 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
0 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-123000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-1062000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-2294000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-1000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-13000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
337000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
0 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
310000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2683000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
388000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
22000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
0 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
-4941000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
-2287000 | usd |
CY2023Q1 | avtx |
Increase Decrease In Lease Liability
IncreaseDecreaseInLeaseLiability
|
-13000 | usd |
CY2022Q1 | avtx |
Increase Decrease In Lease Liability
IncreaseDecreaseInLeaseLiability
|
25000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-10052000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-16067000 | usd |
CY2023Q1 | us-gaap |
Payments For Capital Improvements
PaymentsForCapitalImprovements
|
158000 | usd |
CY2022Q1 | us-gaap |
Payments For Capital Improvements
PaymentsForCapitalImprovements
|
0 | usd |
CY2023Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
25000 | usd |
CY2022Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
0 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-133000 | usd |
CY2023Q1 | avtx |
Proceeds From Issuance Of Common Stock And Warrants
ProceedsFromIssuanceOfCommonStockAndWarrants
|
13748000 | usd |
CY2022Q1 | avtx |
Proceeds From Issuance Of Common Stock And Warrants
ProceedsFromIssuanceOfCommonStockAndWarrants
|
0 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
13748000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
3563000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-16067000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
13318000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
54863000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
16881000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
38796000 | usd |
CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
704000 | usd |
CY2022Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
831000 | usd |
CY2023Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
16687000 | usd |
CY2022Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
38469000 | usd |
CY2023Q1 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
63000 | usd |
CY2022Q1 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
100000 | usd |
CY2023Q1 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
131000 | usd |
CY2022Q1 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
227000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
16881000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
38796000 | usd |
CY2023Q1 | 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:112%">Avalo Therapeutics, Inc. (the “Company” or “Avalo” or “we”) is a clinical stage biotechnology company focused on the treatment of immune dysregulation by developing therapies that target the LIGHT network. </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%">LIGHT (Lymphotoxin-like, exhibits Inducible expression, and competes with HSV Glycoprotein D for Herpesvirus Entry Mediator (“HVEM”), a receptor expressed by T lymphocytes; also referred to as TNFSF14) is an immunoregulatory cytokine. LIGHT and its signaling receptors, HVEM (TNFRSF14), and lymphotoxin β receptor (TNFRSF3), form an immune regulatory network with two co-receptors of herpesvirus entry mediator, checkpoint inhibitor B and T Lymphocyte Attenuator (“BTLA”), and CD160 (collectively, the “LIGHT-signaling network” or the “LIGHT network”). Accumulating evidence points to the dysregulation of the LIGHT network as a disease-driving mechanism in autoimmune and inflammatory reactions in barrier organs. Therefore, we believe reducing LIGHT levels can moderate immune dysregulation in many acute and chronic inflammatory disorders.</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%">Avalo was incorporated in Delaware 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:115%">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%">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. As of March 31, 2023, Avalo had $16.7 million in cash and cash equivalents. For the three months ended March 31, 2023, Avalo generated a net loss of $10.0 million and negative cash flows from operations of $10.1 million. As of March 31, 2023, Avalo had an accumulated deficit of $313.8 million. As of March 31, 2023, the future principal payments under the Company’s Loan Agreement (as defined in Note 9) were $21.2 million, $5.9 million of which are due in 2023 (beginning in the third quarter). </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%">On February 7, 2023, the Company closed an underwritten public offering of 3,770,000 shares of its common stock and warrants to purchase up to an aggregate 3,770,000 shares of common stock, resulting in net proceeds of approximately $13.7 million, after deducting the underwriting discounts and commissions and offering expenses paid by us. The warrants were immediately exercisable at an exercise price of $5.00 per share and are exercisable for one year from the issuance date.</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%">The accompanying unaudited 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 within one year after the date the unaudited 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) financings, (ii) out-licensing, strategic alliances/collaborations or sale of our pipeline assets, and (iii) federal and/or private grants. 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 to limited exceptions, the Loan Agreement (as defined in Note 9) prohibits the Company from incurring certain additional indebtedness, making certain asset dispositions, and entering into certain mergers, acquisitions or other business combination transactions without the prior consent of the lenders. Additionally, the Loan Agreement contains certain covenants and certain other specified events, including a material adverse change in the business, that could result in an event of default, which if not cured or waived, could result in the immediate acceleration of all or a substantial portion of the outstanding Notes. If the AVTX-002 PEAK trial, for which we expect topline data in the second quarter of 2023, does not have a positive data readout, it may result in a material adverse change in the business. As of the filing date of this Quarterly Report on Form 10-Q, the Company was not aware of any breach of covenants or occurrence of material adverse change, nor had it received any notice of event of default from the lenders (refer to Note 9 for more information).</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%">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 on Form 10-Q were issued. </span></div>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 priority review vouchers it receives. | |
CY2023Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
16700000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10000000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-10100000 | usd |
CY2023Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-313800000 | usd |
CY2023Q1 | us-gaap |
Warrant Exercise Price Increase
WarrantExercisePriceIncrease
|
5.00 | |
CY2022Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
1900000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
400000 | usd |
CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-9955000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9955000 | usd |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11722764 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11722764 | shares |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.85 | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.85 | |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-22051000 | usd |
CY2022Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-22051000 | usd |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
9399518 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
9399518 | shares |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-2.35 | |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-2.35 | |
CY2023Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
1629000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
1711000 | usd |
CY2023Q1 | us-gaap |
Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
|
200000 | usd |
CY2023Q1 | avtx |
Lessee Operating Lease Number Of Leased Properties
LesseeOperatingLeaseNumberOfLeasedProperties
|
2 | property |
CY2023Q1 | avtx |
Lessee Operating Lease Remaining Lease Team
LesseeOperatingLeaseRemainingLeaseTeam
|
P5Y3M18D | |
CY2023Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
1682000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
1750000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
533000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
532000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
2162000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
2243000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
|
0.091 | |
CY2023Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
120000 | usd |
CY2022Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
116000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
400000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
537000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
547000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
557000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
258000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
201000 | usd |
CY2022Q4 | avtx |
Accrued Selling General And Administrative Expenses
AccruedSellingGeneralAndAdministrativeExpenses
|
1008000 | usd |
CY2023Q1 | avtx |
Commercial Operations Current
CommercialOperationsCurrent
|
1788000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
224000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
2724000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
562000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
2162000 | usd |
CY2023Q1 | avtx |
Accrued Research And Development
AccruedResearchAndDevelopment
|
2643000 | usd |
CY2022Q4 | avtx |
Accrued Research And Development
AccruedResearchAndDevelopment
|
6293000 | usd |
CY2023Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2126000 | usd |
CY2022Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2699000 | usd |
CY2023Q1 | avtx |
Accrued Selling General And Administrative Expenses
AccruedSellingGeneralAndAdministrativeExpenses
|
725000 | usd |
CY2022Q4 | avtx |
Commercial Operations Current
CommercialOperationsCurrent
|
1694000 | usd |
CY2023Q1 | us-gaap |
Accrued Royalties Current
AccruedRoyaltiesCurrent
|
445000 | usd |
CY2022Q4 | us-gaap |
Accrued Royalties Current
AccruedRoyaltiesCurrent
|
508000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
533000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
532000 | usd |
CY2023Q1 | us-gaap |
Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
|
13000 | usd |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
|
480000 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
8273000 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
13214000 | usd |
CY2023Q1 | avtx |
Number Of Class Of Stock Authorized
NumberOfClassOfStockAuthorized
|
2 | class_of_stock |
CY2023Q1 | avtx |
Capital Stock Shares Authorized
CapitalStockSharesAuthorized
|
205000000 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | shares |
CY2023Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | shares |
CY2023Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
855000 | usd |
CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
5312000 | usd |
CY2019Q3 | avtx |
Royalty Agreement Payment Received
RoyaltyAgreementPaymentReceived
|
2000000 | usd |
CY2019Q3 | avtx |
Royalty Agreement Period After Public Launch To Terminate Agreement
RoyaltyAgreementPeriodAfterPublicLaunchToTerminateAgreement
|
P3Y | |
CY2019Q3 | avtx |
Royalty Agreement Buyout Option Percentage Of Net Present Value Of Royalty Payments
RoyaltyAgreementBuyoutOptionPercentageOfNetPresentValueOfRoyaltyPayments
|
0.75 |