SEC Filings

S-1
AVEXIS, INC. filed this Form S-1 on 01/15/2016
Entire Document
 

Table of Contents



Summary Consolidated Financial Data

          The following tables set forth, for the periods and as of the date indicated, our summary consolidated financial data. The statement of operations data for the years ended December 31, 2013 and 2014 are derived from our audited consolidated financial statements appearing elsewhere in this prospectus. The balance sheet data as of September 30, 2015 and the statement of operations data for the nine months ended September 30, 2014 and 2015 have been derived from our unaudited consolidated financial statements included elsewhere in this prospectus. These unaudited consolidated financial statements have been prepared on a basis consistent with our audited consolidated financial statements and, in our opinion, contain all adjustments, consisting of normal and recurring adjustments, necessary for the fair statement of such financial data. You should read this data together with our consolidated financial statements and related notes included elsewhere in this prospectus and the information under the captions "Selected Consolidated Financial Data" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Our historical results are not necessarily indicative of our future results, and our operating results for the nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 or any other interim periods or any future year or period.

 
  Year Ended
December 31,
  Nine Months Ended
September 30,
 
 
 
2013
 
2014
 
2014
 
2015
 
 
  (in thousands, except share and per share data)
 

Statement of Operations Data:

                         

Revenue

  $   $   $   $  

Operating expenses:

                         

Research and development

    363     13,550     10,167     18,756  

General and administrative

    1,834     1,870     1,601     6,651  

Total operating expenses

    2,197     15,420     11,768     25,407  

Loss from operations

    (2,197 )   (15,420 )   (11,768 )   (25,407 )

Interest expense (income)

    17     132     133     (94 )

Loss from continuing operations, before income taxes

    (2,214 )   (15,552 )   (11,901 )   (25,313 )

Income tax expense (benefit)

                 

Loss from continuing operations

    (2,214 )   (15,552 )   (11,901 )   (25,313 )

Loss from discontinued operations, net of tax

    475     9     9      

Loss from sale of discontinued operations, net of tax

        145     145      

Net loss

  $ (2,689 ) $ (15,706 ) $ (12,055 ) $ (25,313 )

Basic and diluted net loss per common share from continuing operations

  $ (0.49 ) $ (3.28 ) $ (2.55 ) $ (4.96 )

Basic and diluted net loss per common share from discontinued operations

    (0.11 )   (0.03 )   (0.03 )    

Basic and diluted net loss per common share

  $ (0.60 ) $ (3.31 ) $ (2.58 ) $ (4.96 )

Weighted-average basic and diluted common shares outstanding

    4,513,712     5,011,887     5,017,190     5,103,607  

Pro forma basic and diluted net loss per common share(1)

        $ (2.33 )       $ (2.87 )

Pro forma weighted-average basic and diluted common shares outstanding(1)

          6,745,954           8,825,900  

(1)
See Note 13 to our consolidated financial statements included elsewhere in this prospectus for an explanation of the method used to calculate the historical and pro forma basic and diluted net loss per common share.

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