Alvotech (NASDAQ: ALVO, or the “Company”), a global biotech company
specializing in the development and manufacture of biosimilar
medicines for patients worldwide, today reported unaudited
financial results for the first nine months of 2024 and provided a
summary of recent corporate highlights.
“We are delighted by the results in the quarter and the first
nine months of 2024. The third quarter marked our second
consecutive quarter with positive adjusted EBITDA and operating
profit. Not only did we see growth in product revenue compared to
the previous quarter, but we also experienced a more than doubling
of product gross margins, primarily due to improved utilization and
scale at our manufacturing site,” said Robert Wessman, Chairman and
CEO of Alvotech. “We are also pleased with the steady progress of
our pipeline, which included multiple filing acceptances in Europe
and the initiation of our confirmatory clinical study for AVT16,
our proposed biosimilar to Entyvio. The continued execution of our
research and development activities not only contributes to our
topline through milestone revenues but also provides further
opportunities for the company to grow and diversify in the
future.”
Product development highlights
Alvotech announced that the European Medicines Agency (EMA)
accepted a Marketing Authorization Application (MAA) for AVT03, a
proposed biosimilar to Prolia® and Xgeva® (denosumab) and an MAA
for AVT05, a proposed biosimilar to Simponi® (golimumab). For
European markets, Alvotech has partnership agreements for
commercialization of AVT03 with STADA and Dr. Reddy’s Laboratories
and for AVT05 with Advanz Pharma.
Alvotech announced the initiation of a confirmatory patient
study for AVT16, a proposed biosimilar to Entyvio® (vedolizumab).
Entyvio, which generated approximately $5.4 billion in global sales
in the twelve months until June 30, 2024 [1], is used to treat
ulcerative colitis and Crohn’s disease [2].
Alvotech and Teva Pharmaceuticals announced that the U.S. FDA
has approved a new presentation of SELARSDI™ (ustekinumab-aekn), a
biosimilar to Stelara® (ustekinumab), in a 130 mg/26 mL single-dose
vial for intravenous infusion. This approval also expands
SELARSDI's label to include treatment for adults with Crohn’s
disease and ulcerative colitis, aligning it with the reference
product's indications. The U.S. launch of SELARSDI is expected in
February 2025.
Summary of the Financial Results for First Nine Months
of 2024
Cash position and sources of liquidity: As of September 30,
2024, the Company had cash and cash equivalents of $118.3 million.
In addition, the Company had borrowings of $1,028.2 million,
including $22.2 million of current portion of borrowings.
Product Revenue: Product revenue was $128.0 million for the nine
months ended September 30, 2024, compared to $29.8 million for the
same nine months of 2023. Revenue for the nine months ended
September 30, 2024, consisted of product revenue from sales of
AVT02 in select European countries and Canada, launch of AVT02 in
the U.S., and launch of AVT04 in Canada, Japan and select European
markets.
License and Other Revenue: License and other revenue was $210.5
million for the nine months ended September 30, 2024, compared to
$8.2 million for the same nine months of 2023. The license and
other revenue of $210.5 million was primarily attributable to the
recognition of a $6.6 million research and development milestone
due to the approval of AVT04 in Europe, $16.8 million relative to
research and development milestone due to the commencement of a
clinical phase for the AVT16 program, $22.3 million due to the MAA
submission for AVT03 and AVT06, and $95.6 million due to the
Confirmatory Efficacy and Safety (CES) trial completion of AVT03
and AVT05. This also included $41.1 million of performance
milestone relative to the product launch of AVT04 in Japan and
Europe, the achievement of sales target of AVT02 in Europe and
Canada, and the product launch of AVT02 in the U.S., and a net
milestone revenue of $26.4 million for the execution of out-license
contracts during the nine months ended September 30, 2024.
Cost of product revenue: Cost of product revenue was $105.0
million for the nine months ended September 30, 2024, compared to
$104.4 million for the same nine months of 2023, as a result of
sales in the period, including the launch of AVT02 in the U.S.,
AVT04 in Canada, Japan and select European countries tempered by
lower production-related charges and lower costs associated with
FDA inspection readiness.
Research and development (R&D) expenses: R&D expenses
were $131.1 million for the nine months ended September 30, 2024,
compared to $152.8 million for the same nine months of 2023. The
decrease was primarily driven by a one-time charge of $18.5 million
relating to the termination of the co-development agreement with
Biosana for AVT23 recognized during the nine months of 2023, a
decrease of $4.3 million primarily related to programs which have
completed clinical phase (i.e., AVT02 and AVT04 programs), a
decrease of $6.0 million related to programs for which the clinical
phase is substantially completed (i.e. AVT03, AVT05, and AVT06),
and overall lower headcount and other R&D expenses of $11.4
million, partially offset by a $17.4 million increase in direct
program expenses mainly due to AVT16 that is in clinical phase.
General and administrative (G&A) expenses: G&A expenses
were $46.4 million for the nine months ended September 30, 2024,
compared to $58.6 million for the same nine months of 2023. The
decrease in G&A expenses was primarily attributable to $6.6
million in lower third-party services, lower insurance premiums and
less headcount, coupled with a $4.6 million decrease in expenses
for share-based payments.
Operating profit: Operating profit was $56.2 million for the
nine months ended September 30, 2024, compared to ($277.7) million
for the same nine months of 2023. The increase of $333.9 million
was primarily attributable to the sharp increase in total revenues
due to a combination of expansion of our product launches and
milestones recognition for advancing our product through our
pipeline and achieving contractual sales targets. This is coupled
with a decrease in operating expenses driven by continuing efforts
by the Company to scale and rationalize operations.
Share of net loss of joint venture and loss on interest in joint
venture: In June 2024, Alvotech sold its share in the joint venture
for gross proceeds of $18.0 million (less $1.3 million in
transaction costs). The sale resulted in a net loss of $3.0 million
during the nine months ended 30 September 2024.
Finance income: Finance income was $79.1 million for the nine
months ended September 30, 2024, compared to $46.4 million for the
same nine months of 2023. Finance income for the nine months ended
September 30, 2024, was primarily attributable to the change in
fair value of the Tranche A Conversion Feature of the 2022
Convertible bonds impacted by the bond holders exercising their
right to conversion into ordinary shares on the last scheduled
conversion date prior to maturity, which was July 1, 2024. The
Finance income for the nine months ended September 30, 2023, was
mainly attributable to a favorable change in fair value of the
Predecessors Earn Out shares.
Finance costs: Finance costs were $237.7 million for the nine
months ended September 30, 2024, compared to $107.8 million for the
same nine months of 2023. The Finance costs for the nine months
ended September 30, 2024, were primarily comprised of a $107.3
million change in fair value of the Predecessors Earn Out shares,
which was negatively impacted by the increase in the Company's
share price during that period, and by interest charges on
outstanding debts of $115.0 million.
Exchange rate differences: Exchange rate differences resulted in
a gain of $1.7 million for the nine months ended September 30,
2024, compared to a gain of $0.9 million for the same nine months
of 2023. The change was primarily driven by the movements in the
exchange rate of the dollar against other currencies, predominantly
Icelandic krona and euros.
Loss on extinguishment of financial liabilities: On June 7,
2024, the Company entered into a $965.0 million Facility, maturing
in July 2029, that was funded in July 2024. Upon the closing of the
Facility, the Company was required to settle its existing debt
obligations. In parallel, the Company announced that all holders of
the Tranche A and some holders of the Tranche B of the 2022
Convertible Bonds exercised their right to conversion into ordinary
shares at the fixed conversion price of $10.00 per share on the
last scheduled conversion date prior to maturity, which is July 1,
2024. Similarly, some holders of the Aztiq Convertible Bonds
decided to exercise similar conversion right into ordinary shares
at the same conversion price. A loss on extinguishment of financial
liabilities of $69.0 million related to the refinancing of existing
debt obligations, including the conversion of the 2022 Convertible
Bonds and Aztiq Convertible Bonds, was recorded during the nine
months ended September 30, 2024.
Income tax benefit: Income tax benefit was $8.2 million for the
nine months ended September 30, 2024, compared to a benefit of
$67.1 million for the same nine months of 2023. The decrease in
benefit was mainly driven by a decrease of $61.1 million in
deferred tax credit corresponding to lower operating losses and a
$4.2 million decrease in foreign currency impact on the
strengthening of the Icelandic Krona against the U.S. Dollar,
increasing the U.S. Dollar value of Icelandic tax loss
carry-forwards that Alvotech expects to utilize against future
taxable profits. The decrease in income tax benefit is partly
offset by an increase in other permanent differences of
approximately $7.0 million.
Loss for the Period: Reported net loss was $164.9 million, or
($0.63) per share on a basic and diluted basis, for the nine months
ended September 30, 2024, compared to a reported net loss of $275.2
million, or ($1.21) per share on a basic and diluted basis, for the
same nine months of 2023. As mentioned above, the net loss for the
period is heavily impacted by the non-cash fair value charges
associated with our derivative liabilities and the impact of the
refinancing of the existing debt obligations.
Business Update Conference Call Alvotech will
conduct a business update conference call and live webcast on
Thursday, November 14, at 8:00 am ET (13:00 pm GMT). Registration
for the conference call and access to the live webcast is found on
https://investors.alvotech.com/events/event-details/q3-2024-earnings,
where you will also be able to find a replay of the webcast,
following the call for 90 days.
About AVT02 (adalimumab) AVT02 is a monoclonal
antibody and has been approved as a biosimilar to Humira®
(adalimumab) in over 50 countries globally, including the U.S.,
Europe, Canada, Australia, Egypt, Saudi Arabia and South Africa. It
is currently marketed in the U.S. as SIMLANDI and under private
label (adalimumab-ryvk), in Europe as HUKYNDRA, in Canada as
SIMLANDI and in Australia as ADALACIP. Dossiers are also under
review in multiple countries globally.
About AVT03AVT03 is a human monoclonal antibody
and a biosimilar candidate to Prolia® and Xgeva® (denosumab).
Denosumab targets and binds with high affinity and specificity to
the RANK ligand membrane protein, preventing the RANK ligand/RANK
interaction from occurring, resulting in reduced osteoclast numbers
and function, thereby decreasing bone resorption and cancer-induced
bone destruction [3]. AVT03 is an investigational product and has
not received regulatory approval in any country. Biosimiliarity has
not been established by regulatory authorities and is not
claimed.
About AVT04 (ustekinumab) AVT04 is a monoclonal
antibody and a biosimilar to Stelara® (ustekinumab). Ustekinumab
binds to two cytokines, IL-12 and IL-23, that are involved in
inflammatory and immune responses [4]. AVT04 has been launched in
Canada as JAMTEKI, in the EEA as UZPRUVO, and in Japan as
USTEKINUMAB BS (F). It has been approved in the U.S. as SELARSDI
(ustekinumab-aekn). Dossiers are also under review in multiple
countries globally.
About AVT06/AVT29AVT06/AVT29 is a recombinant
fusion protein and a biosimilar candidate to Eylea® (aflibercept) 2
mg and 8 mg dose, which binds vascular endothelial growth factors
(VEGF), inhibiting the binding and activation of VEGF receptors,
neovascularization, and vascular permeability [5]. AVT06/AVT29 are
investigational products and have not received regulatory approval
in any country. Biosimilarity has not been established by
regulatory authorities and is not claimed.
About AVT16 AVT16 is a human monoclonal
antibody and a biosimilar candidate to Entyvio® (vedolizumab).
AVT16 is an investigational product and has not received regulatory
approval in any country. Biosimiliarity has not been established by
regulatory authorities and is not claimed.
Sources [1] IQVIA [2] Entyvio product
information[3] Prolia product information[4] Uzpruvo product
information [5] Eylea product information
Use of trademarks Humira is a registered
trademark of AbbVie Inc. Stelara is a registered trademark of
Johnson & Johnson Inc. Prolia and Xgeva are registered
trademarks of Amgen Inc. Elyea is a registered trademark of
Regeneron Pharmaceuticals Inc. and Bayer AG. Entyvio is a
registered trademark of Millenium Pharmaceuticals Inc.
About Alvotech Alvotech is a biotech company,
founded by Robert Wessman, focused solely on the development and
manufacture of biosimilar medicines for patients worldwide.
Alvotech seeks to be a global leader in the biosimilar space by
delivering high quality, cost-effective products, and services,
enabled by a fully integrated approach and broad in-house
capabilities. Alvotech has launched two biosimilars. The current
development pipeline includes nine disclosed biosimilar candidates
aimed at treating autoimmune disorders, eye disorders,
osteoporosis, respiratory disease, and cancer. Alvotech has formed
a network of strategic commercial partnerships to provide global
reach and leverage local expertise in markets that include the
United States, Europe, Japan, China, and other Asian countries and
large parts of South America, Africa and the Middle East.
Alvotech’s commercial partners include Teva Pharmaceuticals, a US
affiliate of Teva Pharmaceutical Industries Ltd. (US), STADA
Arzneimittel AG (EU), Fuji Pharma Co., Ltd (Japan), Advanz Pharma
(EEA, UK, Switzerland, Canada, Australia and New Zealand), Dr.
Reddy’s (EEA, UK and US), Biogaran (FR), Cipla/Cipla Gulf/Cipla Med
Pro (Australia, New Zealand, South Africa/Africa), JAMP Pharma
Corporation (Canada), Yangtze River Pharmaceutical (Group) Co.,
Ltd. (China), DKSH (Taiwan, Hong Kong, Cambodia, Malaysia,
Singapore, Indonesia, India, Bangladesh and Pakistan), YAS Holding
LLC (Middle East and North Africa), Abdi Ibrahim (Turkey), Kamada
Ltd. (Israel), Mega Labs, Stein, Libbs, Tuteur and Saval (Latin
America) and Lotus Pharmaceuticals Co., Ltd. (Thailand, Vietnam,
Philippines, and South Korea). Each commercial partnership covers a
unique set of product(s) and territories. Except as specifically
set forth therein, Alvotech disclaims responsibility for the
content of periodic filings, disclosures and other reports made
available by its partners. For more information, please visit
www.alvotech.com. None of the information on the Alvotech website
shall be deemed part of this press release.
Please visit our investor portal, and our website or follow us
on social media on LinkedIn, Facebook, Instagram, X and
YouTube.
Alvotech Forward Looking Statements Certain
statements in this communication may be considered “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended. Forward-looking statements
generally relate to future events or the future financial operating
performance of Alvotech and may include, for example, Alvotech’s
expectations regarding competitive advantages, business prospects
and opportunities including pipeline product development, future
plans and intentions, results, level of activities, performance,
goals or achievements or other future events, regulatory
submissions, review and interactions, the potential approval and
commercial launch of its product candidates, the timing of
regulatory approval, and market launches. In some cases, you can
identify forward-looking statements by terminology such as “may”,
“should”, “expect”, “intend”, “will”, “estimate”, “anticipate”,
“believe”, “predict”, “potential”, “aim” or “continue”, or the
negatives of these terms or variations of them or similar
terminology. Such forward-looking statements are subject to risks,
uncertainties, and other factors which could cause actual results
to differ materially from those expressed or implied by such
forward-looking statements. These forward-looking statements are
based upon estimates and assumptions that, while considered
reasonable by Alvotech and its management, are inherently uncertain
and are inherently subject to risks, variability, and
contingencies, many of which are beyond Alvotech’s control. Factors
that may cause actual results to differ materially from current
expectations include, but are not limited to: (1) the ability to
raise substantial additional funding, which may not be available on
acceptable terms or at all; (2) the ability to maintain stock
exchange listing standards; (3) changes in applicable laws or
regulations; (4) the possibility that Alvotech may be adversely
affected by other economic, business, and/or competitive factors;
(5) Alvotech’s estimates of expenses and profitability; (6)
Alvotech’s ability to develop, manufacture and commercialize the
products and product candidates in its pipeline; (7) actions of
regulatory authorities, which may affect the initiation, timing and
progress of clinical studies or future regulatory approvals or
marketing authorizations; (8) the ability of Alvotech or its
partners to respond to inspection findings and resolve deficiencies
to the satisfaction of the regulators; (9) the ability of Alvotech
or its partners to enroll and retain patients in clinical studies;
(10) the ability of Alvotech or its partners to gain approval from
regulators for planned clinical studies, study plans or sites; (11)
the ability of Alvotech’s partners to conduct, supervise and
monitor existing and potential future clinical studies, which may
impact development timelines and plans; (12) Alvotech’s ability to
obtain and maintain regulatory approval or authorizations of its
products, including the timing or likelihood of expansion into
additional markets or geographies; (13) the success of Alvotech’s
current and future collaborations, joint ventures, partnerships or
licensing arrangements; (14) Alvotech’s ability, and that of its
commercial partners, to execute their commercialization strategy
for approved products; (15) Alvotech’s ability to manufacture
sufficient commercial supply of its approved products; (16) the
outcome of ongoing and future litigation regarding Alvotech’s
products and product candidates; (17) the impact of worsening
macroeconomic conditions, including rising inflation and interest
rates and general market conditions, conflicts in Ukraine, the
Middle East and other global geopolitical tension, on the Company’s
business, financial position, strategy and anticipated milestones;
and (18) other risks and uncertainties set forth in the sections
entitled “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statements” in documents that Alvotech may from
time to time file or furnish with the SEC. There may be additional
risks that Alvotech does not presently know or that Alvotech
currently believes are immaterial that could also cause actual
results to differ from those contained in the forward-looking
statements. Nothing in this communication should be regarded as a
representation by any person that the forward-looking statements
set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You
should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. Alvotech does not
undertake any duty to update these forward-looking statements or to
inform the recipient of any matters of which any of them becomes
aware of which may affect any matter referred to in this
communication. Alvotech disclaims any and all liability for any
loss or damage (whether foreseeable or not) suffered or incurred by
any person or entity as a result of anything contained or omitted
from this communication and such liability is expressly disclaimed.
The recipient agrees that it shall not seek to sue or otherwise
hold Alvotech or any of its directors, officers, employees,
affiliates, agents, advisors, or representatives liable in any
respect for the provision of this communication, the information
contained in this communication, or the omission of any information
from this communication.
ALVOTECH INVESTOR RELATIONS AND GLOBAL
COMMUNICATIONS Benedikt Stefansson,
VPalvotech.ir@alvotech.com
| Unaudited
Condensed Consolidated Interim Statements of Profit or Loss and
Other Comprehensive Income or Loss |
|
USD in thousands, except for per share amounts |
Nine months ended30 September
2024 |
Nine months ended30 September
2023 |
|
Product revenue |
128,018 |
29,800 |
| License and other revenue |
210,459 |
8,244 |
| Other income |
160 |
56 |
| Cost of product revenue |
(104,979) |
(104,437) |
| Research and development
expenses |
(131,050) |
(152,813) |
| General and administrative
expenses |
(46,435) |
(58,558) |
| Operating profit /
(loss) |
56,173 |
(277,708) |
| Share of net loss of joint
venture |
— |
(3,983) |
| Loss on sale of investment in
joint venture |
(2,970) |
— |
| Finance income |
79,079 |
46,383 |
| Finance costs |
(237,683) |
(107,826) |
| Exchange rate differences |
1,657 |
884 |
| Loss on extinguishment of
financial liabilities |
(69,378) |
— |
| Non-operating
loss |
(229,295) |
(64,542) |
| Loss before
taxes |
(173,122) |
(342,250) |
| Income tax benefit |
8,225 |
67,076 |
| Loss for the
period |
(164,897) |
(275,174) |
| Other comprehensive
(loss) |
|
|
| Item that will be reclassified
to profit or loss in subsequent periods: |
|
|
| Exchange rate differences on
translation of foreign operations |
1,347 |
(2,648) |
| Total comprehensive
loss |
(163,550) |
(277,822) |
| Loss per
share |
|
|
| Basic and diluted loss for the
year per share |
(0.63) |
(1.21) |
| Unaudited
Condensed Consolidated Interim Statements of Financial
PositionUSD in thousands |
|
Non-current assets |
30 September 2024 |
30 September 2023 |
| Property, plant and
equipment |
255,838 |
236,779 |
| Right-of-use assets |
153,044 |
119,802 |
| Goodwill |
12,201 |
12,058 |
| Other intangible assets |
20,538 |
19,076 |
| Contract assets |
28,828 |
10,856 |
| Interest in joint venture |
— |
18,494 |
| Other long-term assets |
9,524 |
2,244 |
| Restricted cash |
— |
26,132 |
| Deferred tax assets |
320,369 |
309,807 |
| Total non-current
assets |
800,342 |
755,248 |
| Current
assets |
|
|
| Inventories |
125,014 |
74,433 |
| Trade receivables |
77,420 |
41,292 |
| Contract assets |
68,128 |
35,193 |
| Other current assets |
43,729 |
31,871 |
| Receivables from related
parties |
41 |
896 |
| Cash and cash equivalents |
118,274 |
11,157 |
| Total current
assets |
432,606 |
194,842 |
| Total
assets |
1,232,948 |
950,090 |
| Unaudited
Condensed Consolidated Interim Statements of Financial
PositionUSD in thousands |
|
Equity |
30 September 2024 |
30 September 2023 |
| Share capital |
2,825 |
2,279 |
| Share premium |
2,007,784 |
1,229,690 |
| Other reserves |
16,607 |
42,911 |
| Translation reserve |
(181) |
(1,528) |
| Accumulated deficit |
(2,370,742) |
(2,205,845) |
| Total
equity |
(343,707) |
(932,493) |
| Non-current
liabilities |
|
|
| Borrowings |
1,005,940 |
922,134 |
| Derivative financial
liabilities |
182,361 |
520,553 |
| Lease liabilities |
140,762 |
105,632 |
| Contract liabilities |
85,502 |
73,261 |
| Deferred tax liability |
1,541 |
53 |
| Total non-current
liabilities |
1,416,106 |
1,621,633 |
| Current
liabilities |
|
|
| Trade and other payables |
57,720 |
80,563 |
| Lease liabilities |
11,584 |
9,683 |
| Current maturities of
borrowings |
22,217 |
38,025 |
| Liabilities to related
parties |
1,387 |
9,851 |
| Contract liabilities |
16,024 |
59,183 |
| Taxes payable |
1,106 |
925 |
| Other current liabilities |
50,511 |
62,720 |
| Total current
liabilities |
160,549 |
260,950 |
| Total
liabilities |
1,576,655 |
1,882,583 |
| Total equity and
liabilities |
1,232,948 |
950,090 |
| Unaudited
Condensed Consolidated Interim Statements of Cash
Flows |
|
USD thousandsCash flows from operating
activities |
Nine months ended30 September
2024 |
Nine months ended30 September
2023 |
| Loss for the period |
(164,897) |
(275,174) |
| Adjustments for
non-cash items: |
|
|
| Depreciation and
amortization |
23,146 |
17,485 |
| Change in allowance for
receivables |
— |
18,500 |
| Change in inventory
reserves |
(3,531) |
— |
| Share-based payments |
7,881 |
15,199 |
| Loss on disposal of property,
plant and equipment |
184 |
323 |
| Loss on sale of interest in
joint venture |
2,970 |
— |
| Share of net loss of joint
venture |
— |
3,983 |
| Finance income |
(79,079) |
(46,383) |
| Finance costs |
237,683 |
107,826 |
| Exchange rate difference |
(1,657) |
(884) |
| Loss on extinguishment of
financial liabilities |
69,378 |
— |
| Income tax benefit |
(8,225) |
(67,076) |
| Operating cash flow
before movement in working capital |
83,853 |
(226,201) |
| Increase in inventories |
(47,050) |
(10,525) |
| (Increase) / decrease in trade
receivables |
(36,128) |
11,027 |
| (Decrease) / increase in
liabilities with related parties |
(8,367) |
15 |
| (Increase) / decrease in
contract assets |
(50,907) |
2,031 |
| Increase in other assets |
(9,853) |
(15) |
| Decrease in trade and other
payables |
(27,937) |
(566) |
| (Decrease) / increase in
contract liabilities |
(30,474) |
32,182 |
| Decrease in other
liabilities |
(18,721) |
(21,737) |
| Cash used in
operations |
(145,584) |
(213,789) |
| Interest received |
97 |
46 |
| Interest paid |
(51,583) |
(30,582) |
| Income tax paid |
(571) |
(697) |
| Net cash used in
operating activities |
(197,641) |
(245,022) |
| Cash flows from
investing activities |
|
|
| Acquisition of property, plant
and equipment |
(24,091) |
(29,440) |
| Disposal of property, plant
and equipment |
— |
133 |
| Acquisition of intangible
assets |
(1,857) |
(6,571) |
| Restricted cash in connection
with debt extinguishment |
26,132 |
— |
| Proceeds from the sale in
joint venture |
12,000 |
— |
| Net cash generated
from (used in) investing activities |
12,184 |
(35,878) |
| Cash flows from
financing activities |
|
|
| Repayments of borrowings |
(745,448) |
(97,538) |
| Repayments of principal
portion of lease liabilities |
(7,669) |
(5,838) |
| Proceeds from new
borrowings |
900,805 |
244,908 |
| Transaction cost from new
borrowings |
(4,236) |
— |
| Gross proceeds from equity
offering |
150,451 |
136,877 |
| Fees from equity offering |
(5,812) |
(4,141) |
| Proceeds from warrants |
4,843 |
6,390 |
| Stock options exercised |
76 |
— |
| Net cash generated
from financing activities |
293,010 |
280,658 |
| Increase / (decrease) in cash
and cash equivalents |
107,553 |
(242) |
| Cash and cash equivalents at
the beginning of the year |
11,157 |
66,427 |
| Effect of movements in
exchange rates on cash held |
(436) |
2,130 |
| Cash and cash
equivalents at the end of the period |
118,274 |
68,315 |
Alvontech (NASDAQ:ALVO)
過去 株価チャート
から 11 2024 まで 12 2024
Alvontech (NASDAQ:ALVO)
過去 株価チャート
から 12 2023 まで 12 2024
