ArriVent BioPharma(AVBP) - 2025 Q3 - Quarterly Results

Financial Position - As of September 30, 2025, ArriVent had cash and investments totaling $305.4 million, expected to fund operations into mid-2027[6]. - The total assets of ArriVent as of September 30, 2025, were $326.6 million, compared to $274.9 million as of December 31, 2024, reflecting an increase of 19%[23]. Operational Expenses - Net cash used in operations for the nine months ended September 30, 2025, was $129.9 million, compared to $54.1 million for the same period in 2024, representing an increase of 140%[13]. - Research and development expenses for the nine months ended September 30, 2025, were $121.2 million, up from $58.8 million in 2024, reflecting a 106% increase, which includes a $40 million one-time upfront payment for the in-licensing of ARR-217[13]. - General and administrative expenses increased to $6,149,000 in Q3 2025 from $4,144,000 in Q3 2024, representing a 48.5% rise[24]. - Total operating expenses for Q3 2025 reached $38,316,000, a 58.3% increase compared to $24,232,000 in Q3 2024[24]. Net Loss - The net loss for the nine months ended September 30, 2025, was $130.8 million, compared to a net loss of $59.9 million for the same period in 2024, indicating a 118% increase in losses[13]. - The net loss for Q3 2025 was $34,978,000, compared to a net loss of $20,564,000 in Q3 2024, reflecting a 70.5% increase in losses[24]. - The total comprehensive loss for the nine months ended September 30, 2025, was $130,345,000, significantly higher than $59,855,000 for the same period in 2024[24]. - The net loss per share attributable to common stockholders for Q3 2025 was $0.83, compared to $0.61 in Q3 2024[24]. - Total operating loss for the nine months ended September 30, 2025, was $138,711,000, up from $70,603,000 in the same period of 2024[24]. Research and Development - Research and development expenses for Q3 2025 were $32,167,000, up 60.3% from $20,088,000 in Q3 2024[24]. - The ongoing Phase 1 trial for ARR-217, a CDH17-targeted ADC, is expected to progress, with FDA IND clearance received[6][8]. - Firmonertinib is advancing to pivotal development with the enrollment of the first patient in the global pivotal Phase 3 trial for PACC mutant NSCLC expected in Q4 2025[4]. - Topline pivotal data from the global Phase 3 trial in exon 20 insertion mutant NSCLC is projected to be available in early 2026[4]. - Firmonertinib has received FDA Breakthrough Therapy Designation for treating patients with previously untreated locally advanced or metastatic non-squamous NSCLC with EGFR exon 20 insertion mutations[16]. Company Leadership - The company appointed Brent S. Rice as Chief Commercial Officer, bringing over 25 years of experience in the biotechnology and pharmaceutical industry[10]. Investment Income - Interest and investment income for Q3 2025 was $3,338,000, slightly down from $3,668,000 in Q3 2024[24]. - The company reported an unrealized gain on marketable securities of $226,000 in Q3 2025, compared to no gain in Q3 2024[24]. Shareholder Information - Weighted-average shares of common stock outstanding increased to 41,912,905 in Q3 2025 from 33,581,810 in Q3 2024[24].