Aerovate Q3 2022 Earnings Report
Key Takeaways
Aerovate Therapeutics reported a net loss of $13.6 million for the third quarter ended September 30, 2022, compared to a net loss of $6.2 million for the third quarter ended September 30, 2021. Research and development expenses were $10.8 million, and general and administrative expenses were $3.4 million. Cash, cash equivalents, and short-term investments totaled $142.6 million as of September 30, 2022.
Progress continued for IMPAHCT Global Phase 2b/Phase 3 Clinical Trial.
IMPAHCT Clinical Trial Design was presented at CHEST.
Expanded Intellectual Property Portfolio with two additional patents issued in the U.S.
Sanjeev Khindri joined leadership team as Senior Vice President, Clinical Development.
Aerovate
Aerovate
Forward Guidance
Aerovate expects that its cash, cash equivalents and short-term investments will be sufficient to fund its operations into the second half of 2025, based on its current operating plan.