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Dec 31, 2022
Aerovate Q4 2022 Earnings Report
Aerovate reported financial results for full year 2022, highlighting progress on the IMPAHCT trial and expansion of the IP portfolio.
Key Takeaways
Aerovate Therapeutics reported a net loss of $51.5 million for the year ended December 31, 2022. The company's cash, cash equivalents, and short-term investments totaled $129.2 million as of December 31, 2022, expected to fund operations into the second half of 2025.
Progress continued on the IMPAHCT global Phase 2b/Phase 3 clinical trial of AV-101 for pulmonary arterial hypertension (PAH).
Expanded intellectual property portfolio with four issued patents in 2022.
Management team strengthened and expanded in 2022.
Sufficiently funded into second half of 2025.
Forward Guidance
Aerovate expects that its cash, cash equivalents and available-for-sale investments will be sufficient to fund its operations into the second half of 2025, based on its current operating plan.
Positive Outlook
- Sufficient capital to fund operations into the second half of 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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