Aerovate Therapeutics Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
JBIO$16.40+5.1%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| | | | | | | | | |
|---|---|---|---|---|---|---|---|---|
| · · Nine months ended September 30, · · | ||||||||
| · 2024 · 2023 · | ||||||||
| Cash flow from operating activities: · · · | ||||||||
| Net loss | | $(64,198) | | $(55,108) | | | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | | ||||
| Stock-based compensation expense | | 10,068 | | 8,655 | | | ||
| Depreciation and amortization expense | | 274 | | 68 | | | ||
| Accretion of discounts and amortization of premiums on investments, net | | (1,912) | | (2,118) | | | ||
| Changes in operating assets and liabilities: | | | | | ||||
| Prepaid expenses and other current assets | | (82) | | (128) | | | ||
| Other long-term assets | | 789 | | (70) | | | ||
| Accounts payable | | (1,488) | | 880 | | | ||
| Accrued and other liabilities | | (4,152) | | 5,948 | | | ||
| Operating lease assets and liabilities, net | | 220 | | 9 | | | ||
| Other liabilities | | 332 | | (114) | | | ||
| Net cash used in operating activities | | $(60,149) | | $(41,978) | | | ||
| | | | | | | | | |
| Cash flow from investing activities: | | | | | ||||
| Purchases of short-term investments | | | (19,683) | | | (96,194) | | |
| Maturities of short-term investments | | | 62,583 | | | 102,500 | | |
| Purchases of property and equipment | | — | | (78) | | | ||
| Net cash provided by investing activities | | $42,900 | | $6,228 | | | ||
| | | | | | | | | |
| Cash flow from financing activities: | | | | | ||||
| Proceeds from sale of common stock in connection with ATM, net | | 23,635 | | 44,888 | | | ||
| Payments for offering costs | | | (307) | | | (234) | | |
| Proceeds from issuance of common stock under ESPP | | | 308 | | | 228 | | |
| Proceeds from issuance of common stock upon exercise of stock options | | 1,237 | | 651 | | | ||
| Net cash provided by financing activities | | $24,873 | | $45,533 | | | ||
| | | | | | | | | |
| Net increase in cash and cash equivalents | | 7,624 | | 9,783 | | | ||
| Cash and cash equivalents at the beginning of the year | | 23,491 | | 22,397 | | | ||
| Cash and cash equivalents at the end of the period | | $31,115 | | $32,180 | | | ||
| | | | | | | | | |
| Supplemental disclosure of noncash investing and financing activities: | | | | | ||||
| Right-of-use asset obtained in exchange for operating lease liability | | $206 | | $— | | | ||
| Purchases of property and equipment in accounts payable and accrued liabilities | | $— | | $64 | | | ||
AEROVATE THERAPEUTICS, INC.
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