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Dec 31, 2023
Aerovate Q4 2023 Earnings Report
Aerovate reported full-year 2023 financial results and business highlights.
Key Takeaways
Aerovate Therapeutics reported cash, cash equivalents and short-term investments totaling $122.4 million as of December 31, 2023. The company's net loss for the year ended December 31, 2023, was $75.5 million. Topline data from the Phase 2b portion of the IMPAHCT trial is expected in June 2024.
Topline data from Phase 2b portion of IMPAHCT trial expected in June 2024.
Completed enrollment in Phase 2b portion of IMPAHCT trial and enrolled first patient into Phase 3 portion in November 2023.
Expanded intellectual property portfolio with two issued patents in 2023.
Cash runway into 2026 based on current operating plan.
Forward Guidance
Aerovate expects that its cash, cash equivalents and available-for-sale investments will be sufficient to fund operations into 2026, based on the current operating plan.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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