Aadi Bioscience Files Q3 2024 10-Q

TL;DR

AADI Q3 10-Q filed. Financials out.

AI Summary

Aadi Bioscience, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the third quarter and the first nine months of the year. Key financial data and operational updates are detailed within the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Aadi Bioscience, crucial for understanding the company's trajectory and investment potential.

Risk Assessment

Risk Level: medium — As a biotech company, Aadi Bioscience faces inherent risks related to drug development, regulatory approvals, and market adoption, which are typical for the industry.

Key Numbers

• 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 20241106 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
• 2023-12-31 — Previous Year End Date (Provides a point of comparison for financial data from the prior fiscal year-end.)

Key Players & Entities

• Aadi Bioscience, Inc. (company) — Filer of the 10-Q
• Aerpio Pharmaceuticals, Inc. (company) — Former company name
• ZETA ACQUISITION CORP II (company) — Former company name
• 20240930 (date) — End of reporting period
• 20241106 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common stock, $0.0001 par value per share AADI The Nasdaq Sto

Filing Documents

• aadi-20240930.htm (10-Q) — 1691KB
• exhibit102amendmentno03fk.htm (EX-10.2) — 30KB
• exhibit103ndesaitransition.htm (EX-10.3) — 76KB
• exhibit104litri.htm (EX-10.4) — 80KB
• aadi-20240930xex311.htm (EX-31.1) — 11KB
• aadi-20240930xex312.htm (EX-31.2) — 11KB
• aadi-20240930xex321.htm (EX-32.1) — 5KB
• aadi-20240930xex322.htm (EX-32.2) — 5KB
• 0001628280-24-045698.txt ( ) — 7558KB
• aadi-20240930.xsd (EX-101.SCH) — 45KB
• aadi-20240930_cal.xml (EX-101.CAL) — 58KB
• aadi-20240930_def.xml (EX-101.DEF) — 230KB
• aadi-20240930_lab.xml (EX-101.LAB) — 632KB
• aadi-20240930_pre.xml (EX-101.PRE) — 442KB
• aadi-20240930_htm.xml (XML) — 873KB

Financial Statements

Financial Statements 2 Condensed Consolidated Balance Sheets – September 30, 202 4 and December 31, 202 3 (Unaudited) 2 Condensed Consolidated Statements of Operations and Comprehensive Loss – Three and Nine Months Ended September 30, 202 4 and 202 3 (Unaudited) 3 Condensed Consolidated Statements of Stockholders' Equity – Three and Nine Months Ended September 30, 202 4 and 202 3 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows – Nine Months Ended September 30, 202 4 and 202 3 (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 35 PART II. OTHER INFORMATION 36 Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 100 Item 3. Defaults Upon Senior Securities 100 Item 4. Mine Safety Disclosures 101 Item 5. Other Information 101 Item 6. Exhibits 102

Signatures

Signatures 103 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. AADI BIOSCIENCE, INC. Condensed Consolidated Balance Sheets (In thousands, except share data and par value) (Unaudited) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 30,537 $ 62,888 Short-term investments 32,082 45,957 Accounts receivable, net 6,540 5,488 Inventory 5,468 6,427 Prepaid expenses and other current assets 2,688 3,826 Total current assets 77,315 124,586 Property and equipment, net 5,982 4,802 Operating lease right-of-use assets 886 1,169 Other assets 1,515 1,866 Total assets $ 85,698 $ 132,423 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 1,374 $ 5,898 Accrued liabilities 14,117 14,306 Operating lease liabilities, current portion 322 434 Due to licensor payable (Note 7) — 5,757 Total current liabilities 15,813 26,395 Operating lease liabilities, net of current portion 624 833 Other liabilities 393 — Total liabilities 16,830 27,228 Commitments and contingencies (Note 12) Stockholders' equity: Preferred stock, $ 0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding as of September 30, 2024 and December 31, 2023 — — Common stock, $ 0.0001 par value; 300,000,000 shares authorized; 24,614,834 and 24,554,205 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 2 2 Additional paid-in capital 383,208 374,129 Accumulated other comprehensive income 39 27 Accumulated deficit ( 314,381 ) ( 268,963 ) Total stockholders' equity 68,868 105,195 Total liabilities and stockholders' equity $ 85,698 $ 132,423 The accompanying notes are an integral part of these condensed consolidated financial statements. 2 Table of Contents AADI BIOSCIENCE, INC. Condensed Consolidated Statements of Operations and Comprehensive Loss (In thousands, except share data and earnings per share amounts) (Unaudited) Three Months Ended September 30, Nine Months Ended September 3

View Full Filing

View this 10-Q filing on SEC EDGAR