ArriVent BioPharma(AVBP) - 2025 Q4 - Annual Results

Financial Performance - Net cash used in operations was $160.6 million for the year ended December 31, 2025, compared to $70.2 million for 2024, representing a 128% increase [14]. - The net loss for the year ended December 31, 2025, was $166.3 million, compared to a net loss of $80.5 million in 2024, indicating a 106% increase in losses [15]. - Total operating expenses for 2025 were $177,534,000, a significant increase from $94,308,000 in 2024, representing an 88.6% rise [29]. - The operating loss for 2025 was $177,534,000, up from $94,308,000 in 2024, reflecting an increase of 88.6% [29]. - The net loss for 2025 was $166,308,000, which is a 106.5% increase from the net loss of $80,488,000 in 2024 [29]. - The net loss per share attributable to common stockholders was $4.32 in 2025, compared to $2.56 in 2024, representing a 68.8% increase [29]. - Total comprehensive loss for 2025 was $166,083,000, compared to $80,699,000 in 2024, marking a 105.5% increase [29]. Research and Development - Research and development expenses increased to $153.4 million in 2025 from $79.0 million in 2024, reflecting a 94% rise [14]. - Research and development expenses rose to $153,351,000 in 2025, compared to $79,004,000 in 2024, indicating a 93.9% increase [29]. - The ADC pipeline is advancing with ARR-217 currently in Phase 1 clinical development targeting gastrointestinal cancers [6]. - Topline global pivotal Phase 3 data for firmonertinib in first-line EGFR exon 20 insertion mutant NSCLC is expected in mid-2026 [6]. - The company completed enrollment in the pivotal FURVENT trial for firmonertinib in first-line NSCLC EGFR exon 20 insertion mutations [13]. - The company dosed its first patient in the pivotal ALPACCA study evaluating firmonertinib monotherapy for first-line treatment of EGFR PACC mutant NSCLC [7]. - Firmonertinib received FDA Breakthrough Therapy Designation for the treatment of patients with previously untreated locally advanced or metastatic non-squamous NSCLC with EGFR exon 20 insertion mutations [18]. Cash and Investments - ArriVent reported cash and investments of $312.8 million as of December 31, 2025, expected to fund operations into Q3 2027 [6]. - Interest and investment income decreased to $11,226,000 in 2025 from $13,820,000 in 2024, a decline of 18.8% [29]. - Unrealized gain on marketable securities was $225,000 in 2025, a recovery from a loss of $211,000 in 2024 [29]. General and Administrative Expenses - General and administrative expenses rose to $24.2 million in 2025 from $15.3 million in 2024, a 58% increase [14]. - General and administrative expenses increased to $24,183,000 in 2025 from $15,304,000 in 2024, reflecting a rise of 57.9% [29]. Shareholder Information - The weighted-average shares of common stock outstanding increased to 38,462,600 in 2025 from 31,469,328 in 2024, an increase of 22.2% [29].