SEC Filings

8-K
AVEXIS, INC. filed this Form 8-K on 08/10/2017
Entire Document
 

 

Selected Financial Information (unaudited)

 

Operating Results:

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

(In thousands, except share and per share data)

 

2017

 

2016

 

2017

 

2016

 

Revenue

 

 

 

 

 

 

 

 

 

Total revenue

 

$

 

$

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

General and administrative

 

13,154

 

5,418

 

22,803

 

10,242

 

Research and development

 

45,206

 

10,380

 

65,521

 

26,445

 

Total Operating Expenses

 

58,360

 

15,798

 

88,324

 

36,687

 

Loss from operations

 

(58,360

)

(15,798

)

(88,324

)

(36,687

)

 

 

 

 

 

 

 

 

 

 

Interest income

 

331

 

79

 

576

 

132

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(58,029

)

$

(15,719

)

$

(87,748

)

$

(36,555

)

 

 

 

 

 

 

 

 

 

 

Weighted-average basic and diluted common shares outstanding

 

27,971,733

 

23,013,838

 

27,850,199

 

19,876,850

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted net loss per common share

 

$

(2.07

)

$

(0.68

)

$

(3.15

)

$

(1.84

)

 

Balance Sheet Information:

 

 

 

June 30,

 

December 31,

 

(In thousands)

 

2017

 

2016

 

Cash and cash equivalents

 

$

417,620

 

$

240,430

 

Total assets

 

469,307

 

270,575

 

Total liabilities

 

27,884

 

24,444

 

Accumulated deficit

 

$

(229,310

)

$

(141,562

)

 

Conference Call Information

 

Analysts and investors can participate in the conference call by dialing (844) 889-6863 for domestic callers and (661) 378-9762 for international callers, using the conference ID 62331685. The webcast can be accessed live on the Events and Presentations page in the Investors and Media section of the AveXis website, www.AveXis.com.  The webcast will be archived on the company’s website until its next quarterly earnings call, and will be available for telephonic replay for 14 days following the call by dialing (855) 859-2056 (Domestic) or (404) 537-3406 (International), conference ID 62331685.

 

About SMA

 

SMA is a severe neuromuscular disease characterized by the loss of motor neurons leading to progressive muscle weakness and paralysis. SMA is caused by a genetic defect in the SMN1 gene that codes SMN, a protein necessary for survival of motor neurons. The incidence of SMA is approximately one in 10,000 live births.

 

The most severe form of SMA is Type 1, a lethal genetic disorder characterized by motor neuron loss and associated muscle deterioration, which results in mortality or the need for permanent ventilation support before the age of two for greater than 90 percent of patients. SMA Type 1 is the leading genetic cause of infant mortality.

 

About AVXS-101

 

AVXS-101 is a proprietary gene therapy candidate of a one-time treatment for SMA Type 1 and is designed to address the monogenic root cause of SMA and prevent further muscle degeneration by addressing the defective and/or loss of the primary SMN gene. AVXS-101 also targets motor neurons providing rapid onset of effect, and crosses the blood brain barrier allowing an IV dosing route and effective targeting of both central and systemic features.

 

4



© AveXis, Inc. All Rights Reserved.