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Sep 30, 2021
Aerovate Q3 2021 Earnings Report
Aerovate Therapeutics announced financial results for the third quarter of 2021.
Key Takeaways
Aerovate Therapeutics reported a net loss of $6.2 million for the third quarter of 2021. The company's cash and cash equivalents totaled $180.9 million as of September 30, 2021, which they expect will be sufficient to fund operations into the second half of 2025.
Raised $126.9 million in net proceeds from IPO.
Preparing for the initiation of Phase 2b/3 trial of AV-101 for PAH treatment.
Cash and cash equivalents totaled $180.9 million as of September 30, 2021.
Expect cash and cash equivalents will be sufficient to fund operations into the second half of 2025.
Aerovate
Aerovate
Forward Guidance
Aerovate expects that its cash and cash equivalents will be sufficient to fund operations into the second half of 2025, based on its current operating plan.