SEC Filings

10-K
AVEXIS, INC. filed this Form 10-K on 02/28/2018
Entire Document
 

(2)

We enter into agreements in the normal course of business with contract research organizations for clinical trials, with vendors for preclinical studies, manufacturing initiatives, and other services and products which are cancelable at any time by us, generally upon prior written notice.  These payments are not included in the table of contractual obligations.

(3)

In January 2018, we entered into an amendment to a license agreement with REGENXBIO pursuant to which we paid REGENXBIO an upfront payment of $80 million in January 2018 and are required to make an additional payment of $30 million on the first anniversary of the amendment and an additional payment of $30 million on the second anniversary of the amendment.

The contractual obligations table does not include any potential royalty payments we may be required to make under our supply agreement because the amount and timing of when these payments will actually be made is uncertain and the payments are contingent upon the initiation and completion of future activities.

Off‑Balance Sheet Arrangements

During the periods presented, we did not have, nor do we currently have, any off‑balance sheet arrangements as defined under SEC rules.

Item 7A.  Quantitative and Qualitative Disclosures About Market Risk.

Our primary exposure to market risk for our cash and cash equivalents is interest income sensitivity, which is affected by changes in the general level of U.S interest rates. As of December 31, 2017, we had cash and cash equivalents totaling $324.1 million. Cash and cash equivalents consist of cash, deposits with banks and short term highly liquid money market instruments with remaining maturities at the date of purchase of 90 days or less. The primary objective of our investment activity is to preserve capital to fund our operations. We also seek to maximize income from our investments without assuming significant risk. To achieve our objectives, we maintain a portfolio of investments in a variety of securities of high credit quality. We do not believe a sudden change in the interest rates would have a material impact on our financial condition or results of operations. A hypothetical 10% change in interest rates during any of the periods presented would not have had a material impact on our consolidated financial statements.

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