SEC Filings

10-K
AVEXIS, INC. filed this Form 10-K on 03/18/2016
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cost should be recognized over the remaining service period. The ASU is effective for annual and interim periods beginning after December 15, 2015 with early adoption permitted. We are evaluating the application of this ASU, but have not yet determined the potential effects it may have on our consolidated financial statements.

        In November 2014, the FASB issued ASU No. 2014-16, Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity ("ASU 2014-16"). The guidance requires an entity to determine the nature of the host contract by considering all stated and implied substantive terms and features of the hybrid financial instrument, weighing each term and feature on the basis of the relevant facts and circumstances (commonly referred to as the whole-instrument approach). ASU 2014-16 applies to all entities and is effective for annual periods beginning after December 15, 2015, and interim periods thereafter. Early adoption is permitted. We are evaluating the application of this ASU, but have not yet determined the potential effects it may have on our consolidated financial statements.

        In November 2015, the FASB issued Accounting Standards Update 2015-17, Balance Sheet Classification of Deferred Taxes. To simplify presentation, the new guidance requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. As a result, each jurisdiction will now only have one net noncurrent deferred tax asset or liability. The new guidance will be effective for public business entities in fiscal years beginning after December 15, 2016, including interim periods within those years. Early adoption is permitted for all entities as of the beginning of an interim or annual reporting period. The Company is evaluating the application of this ASU, but has not determined the potential effects it may have on the Company's consolidated financial statements.

Results of Operations

Comparison of the Years Ended December 31, 2015 and 2014

        The following table summarizes our results of operations for the years ended December 31, 2015 and 2014, together with the dollar increase or decrease in those items:

 
  Year Ended December 31,    
 
 
  Period-to-
Period
Change
 
 
  2015   2014  

Revenue

  $   $   $  

Operating expenses:

                   

General and administrative

    11,079,512     1,869,899     9,209,613  

Research and development

    27,493,460     13,550,422     13,943,038  

Total operating expenses

    38,572,972     15,420,321     23,152,651  

Loss from operations

    (38,572,972 )   (15,420,321 )   (23,152,651 )

Other income

    84,558         84,558  

Interest (expense) income

    14,570     (131,527 )   146,097  

Loss from continuing operations, before income taxes

    (38,473,844 )   (15,551,848 )   (22,921,996 )

Income tax expense (benefit)

             

Loss from continuing operations

    (38,473,844 )   (15,551,848 )   (22,921,996 )

Loss from discontinued operations, net of tax

        (8,729 )   8,729  

Loss from sale of discontinued operations, net of tax

        (145,199 )   145,199  

Net loss

  $ (38,473,844 ) $ (15,705,776 ) $ (22,768,068 )

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