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Jun 30, 2022
Aerovate Q2 2022 Earnings Report
Announced financial results for the second quarter of 2022.
Key Takeaways
Aerovate Therapeutics reported a net loss of $12.0 million for the second quarter ended June 30, 2022, compared to a net loss of $5.8 million for the second quarter ended June 30, 2021. As of June 30, 2022, cash, cash equivalents and short-term investments totaled $152.0 million.
Continued progress for IMPAHCT global Phase 2b/Phase 3 clinical trial.
Presented Phase 1 results at ATS, showing AV-101 was generally well-tolerated.
Expanded intellectual property portfolio with new patents issued and notices of allowance received.
Strengthened management team with the addition of Stephen Yu as Senior Vice President, Quality.
Forward Guidance
Aerovate expects that its cash, cash equivalents and short-term investments will be sufficient to fund operations into the second half of 2025, based on the current operating plan.
Historical Earnings Impact
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