ArriVent BioPharma(AVBP) - 2024 Q1 - Quarterly Results

Financial Performance - As of March 31, 2024, ArriVent had cash and cash equivalents of $317.4 million, an increase from $150.4 million as of December 31, 2023[21]. - The net loss for Q1 2024 was $17.4 million, compared to a net loss of $12.2 million in Q1 2023[12]. - ArriVent's total operating expenses for Q1 2024 were $20.7 million, compared to $12.2 million in Q1 2023[23]. Research and Development - Research and development expenses for Q1 2024 were $17.0 million, up from $10.2 million in Q1 2023, primarily due to increased headcount and clinical expenses related to firmonertinib[12]. - The company fully enrolled its NSCLC EGFR PACC mutation Phase 1b cohort in the FURTHER study and initiated a Phase 1b combination study of firmonertinib and ICP-189 in March 2024[3]. - Firmonertinib was presented at the 2024 AACR Annual Meeting, demonstrating broad preclinical activity against various EGFR mutations[5]. - Proof-of-concept data for firmonertinib in patients with NSCLC EGFR PACC mutations is expected in 2024[11]. Administrative Changes - General and administrative expenses rose to $3.7 million in Q1 2024 from $1.9 million in Q1 2023, attributed to expanding infrastructure for operating as a public company[12]. - The company appointed Kristine Peterson to its Board of Directors in April 2024, bringing over 30 years of industry leadership experience[8]. Shareholder Information - The weighted-average shares of common stock outstanding increased to 25,046,531 in Q1 2024 from 1,287,574 in Q1 2023[23].