Aura Biosciences Q3 2024 Update
Ticker: AURA · Form: 10-Q · Filed: 2024-11-12T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, biotech, licensing, financials
TL;DR
Aura Biosciences 10-Q filed. Focus on LICOR Inc. deal & patent licenses. Stock options detailed.
AI Summary
Aura Biosciences, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported on its financial performance and business operations, including details on its exclusive license and supply agreement with LICOR Inc. and its royalty-bearing patent license agreement. The filing also covers stock options and restricted stock units granted under its 2018 and 2021 Stock Options Plan.
Why It Matters
This filing provides insight into Aura Biosciences' financial health and ongoing business development, including key agreements that could impact future revenue and product development.
Risk Assessment
Risk Level: medium — The company is in the biotechnology sector, which is inherently high-risk due to long development cycles and regulatory hurdles, though specific financial figures in this 10-Q may not immediately indicate elevated risk.
Key Numbers
- Q3 — Quarterly Period (Reporting period for the 10-Q filing)
- 20240930 — Period End Date (The end date for the financial reporting period)
Key Players & Entities
- Aura Biosciences, Inc. (company) — Filer of the 10-Q
- LICOR Inc. (company) — Party to an exclusive license and supply agreement
- 20240930 (date) — End of the reporting period
- 20241112 (date) — Filing date
FAQ
What is the nature of the exclusive license and supply agreement with LICOR Inc. mentioned in the filing?
The filing references an 'aura:ExclusiveLicenseAndSupplyAgreementMember' with 'aura:LICORIncMember', indicating a formal agreement for licensing and supply.
What is the reporting period covered by this 10-Q filing?
The 'CONFORMED PERIOD OF REPORT' is 20240930, indicating the report covers the period ending September 30, 2024.
When was this 10-Q filing submitted to the SEC?
The filing date, indicated by 'FILED AS OF DATE' and 'DATE AS OF CHANGE', is 20241112.
Does the filing mention any stock option plans?
Yes, the filing references 'aura:TwoThousandAndEighteenAndTwoThousandTwentyOneStockOptionsPlanMember', suggesting details about stock options granted under these plans.
Are there any royalty-bearing agreements mentioned?
Yes, the filing includes 'aura:RoyaltyBearingPatentLicenseAgreementMember', indicating the existence of patent license agreements that involve royalties.
Filing Stats: 4,417 words · 18 min read · ~15 pages · Grade level 19.2 · Accepted 2024-11-12 16:15:28
Key Financial Figures
- $0.00001 — ch registered Common Stock, par value $0.00001 per share AURA Nasdaq Global Market
Filing Documents
- aura-20240930.htm (10-Q) — 2209KB
- aura-ex10_1.htm (EX-10.1) — 81KB
- aura-ex10_2.htm (EX-10.2) — 31KB
- aura-ex10_3.htm (EX-10.3) — 112KB
- aura-ex31_1.htm (EX-31.1) — 17KB
- aura-ex31_2.htm (EX-31.2) — 18KB
- aura-ex32_1.htm (EX-32.1) — 17KB
- 0000950170-24-125428.txt ( ) — 8488KB
- aura-20240930.xsd (EX-101.SCH) — 1182KB
- aura-20240930_htm.xml (XML) — 1295KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations and Comprehensive Loss 2 Condensed Consolidated Statements of Stockholders' Equity 3 Condensed Consolidated Statements of Cash Flows 4 Notes to Unaudited Condensed Consolidated Financial Statements 5 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 16 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.
Controls and Procedures
Controls and Procedures 27 PART II. OTHER INFORMATION 28 Item 1.
Legal Proceedings
Legal Proceedings 28 Item 1A.
Risk Factors
Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 73 Item 3. Defaults Upon Senior Securities 73 Item 4. Mine Safety Disclosures 74 Item 5. Other Information 74 Item 6. Exhibits 75
Signatures
Signatures 76 iii PA RT I—FINANCIAL INFORMATION
Fina ncial Statements
Item 1. Fina ncial Statements. Aura Biosciences, Inc. Condensed Cons olidated Balance Sheets (Unaudited) (in thousands, except share and per share amounts) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 25,407 $ 41,063 Marketable securities 148,970 185,087 Restricted cash and deposits — 19 Prepaid expenses and other current assets 9,104 5,625 Total current assets 183,481 231,794 Restricted cash and deposits, net of current portion 768 768 Right of use assets - operating lease 17,744 18,854 Other long-term assets 22 509 Property and equipment, net 3,325 3,150 Total Assets $ 205,340 $ 255,075 Liabilities and Stockholders' Equity Current liabilities: Accounts payable 1,991 1,787 Short-term operating lease liability 3,126 2,687 Accrued expenses and other current liabilities 9,597 7,883 Total current liabilities 14,714 12,357 Long-term operating lease liability 15,958 16,870 Total Liabilities 30,672 29,227 Commitments and Contingencies (Note 12) Stockholders' Equity: Common stock, $ 0.00001 par value, 150,000,000 authorized at September 30, 2024 and December 31, 2023, and 49,778,861 and 49,350,788 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively — — Additional paid-in capital 522,454 512,617 Accumulated deficit ( 348,393 ) ( 287,308 ) Accumulated other comprehensive income 607 539 Total Stockholders' Equity 174,668 225,848 Total Liabilities and Stockholders' Equity $ 205,340 $ 255,075 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 1 Aura Biosciences, Inc. Condensed Cons olidated Statements of Operations and Comprehensive Loss (Unaudited) (in thousands, except share and per share data) Three Months Ended September 30, Nine Months Ended September 30,