ArriVent BioPharma FY23 EPS $(32.38) Vs $(28.90) YoY

ArriVent BioPharma, Inc. -0.25%

ArriVent BioPharma, Inc.

AVBP

20.10

-0.25%

Fiscal Year 2023 Financial Results

  • Research and development expenses were $64.9 million and $30.4 million for the years ended December 31, 2023 and 2022, respectively. The increase in expense was primarily due to increased clinical spending on trials related to furmonertinib.



     
  • General and administrative expenses were $9.7 million and $6.5 million for the years ended December 31, 2023 and 2022, respectively. The increase was primarily due to increased external costs related to preparing for and operating as a public company, as well as increased personnel costs to support these activities.



     
  • Net loss was $69.3 million and $37.0 million for the years ended December 31, 2023 and 2022, respectively.



    • As of December 31, 2023, the company had cash, cash equivalents and marketable securities of $150.4 million, which, with the proceeds from our IPO in January 2024, is expected to fund operations into 2026.
       
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