Arrivent Biopharma Inc

NASDAQ:AVBPUnited States

Ratings actions from Benzinga: https://www.benzinga.com/quote/AVBP/analyst-ratings

(END) Dow Jones Newswires

May 09, 2024 07:25 ET (11:25 GMT)

Prepaid expenses and other current assets 10,087 9,579 -------- --------- Total current assets 327,480 159,968 Right of use assets -- operating leases 250 291 Deferred offering costs -- 2,732 Other assets 108 107 -------- --------- Total assets $ 327,838 $ 163,098 ======== ========= Liabilities, Convertible Preferred Stock and Stockholders' Equity (Deficit) Current liabilities: Accounts payable $ 4,098 $ 4,532 Accrued expenses 5,732 6,952 Operating lease liabilities 147 140 -------- --------- Total current liabilities 9,977 11,624 Operating lease liabilities 138 177 -------- --------- Total liabilities 10,115 11,801 -------- --------- Series A convertible preferred stock $0.0001 par value, 150,000,000 shares authorized; 150,000,000 shares issued and outstanding at December 31, 2023 -- 149,865 Series B convertible preferred stock $0.0001 par value, 147,619,034 shares authorized; 147,619,034 shares issued and outstanding at December 31, 2023 -- 154,625 -------- --------- Stockholders' equity (deficit): Preferred stock $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding -- -- Common stock $0.0001 par value, 200,000,000 shares authorized; 33,493,750 and 2,745,480 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 3 -- Additional paid-in capital 492,982 4,652 Accumulated deficit (175,262) (157,845) -------- --------- Total stockholders' equity (deficit) 317,723 (153,193) -------- --------- Total liabilities, convertible preferred stock and stockholders' equity (deficit) $ 327,838 $ 163,098 ======== ========= ARRIVENT BIOPHARMA, INC. STATEMENTS OF OPERATIONS (in thousands, except share and per share data) (Unaudited) Three Months Ended March 31, --------------------------- 2024 2023 ------------ ------------- Operating expenses: Research and development $ 16,975 $ 10,236 General and administrative 3,699 1,936 ---------- --------- Total operating expenses 20,674 12,172 ---------- --------- Operating loss (20,674) (12,172) Interest income 3,257 -- ---------- --------- Net loss $ (17,417) $ (12,172) ========== ========= Share information: Net loss per share of common stock, basic and diluted $ (0.70) $ (9.45) ========== ========= Weighted-average shares of common stock outstanding, basic and diluted 25,046,531 1,287,574 ========== =========