On January 29, 2016, the Company entered into an acquisition agreement (the Agreement) with Annapurna Therapeutics SAS (Annapurna), a privately-held biopharmaceutical company focused on advancing gene therapy for unmet medical needs, certain shareholders of Annapurna (the Contributors), and Shareholder Representative Services LLC, a Colorado limited liability company, acting as the representative of the Contributors. The Company believes that it has sufficient funds to continue operations for the foreseeable future. The Company expects to incur losses and have negative net cash flows from operating activities as it expands its portfolio and engages in further research and development activities. The Company has experienced net losses since its inception and has an accumulated deficit of $99.6 million as of March 31, 2016. The Company has not generated any revenue from the sale of products since its inception. Since the Company’s inception, it has devoted its efforts principally to performing research and development activities, including conducting preclinical studies, early clinical trials, filing patent applications, obtaining regulatory approvals, hiring personnel, and raising capital to support these activities. The Company is a gene therapy company committed to discovering and developing novel medicines that can offer potentially life-changing therapeutic benefit to patients suffering from chronic or debilitating disease. (the “Company”, “we” or “us”) was incorporated in Delaware on July 17, 2006, and is headquartered in Menlo Park, California. Organization and Basis of PresentationĪvalanche Biotechnologies, Inc. See accompanying notes to condensed consolidated financial statements.ġ. Supplemental schedule of noncash investing and financing informationįixed assets in accounts payable and current liabilities Net increase in cash and cash equivalentsĬash and cash equivalents at beginning of periodĬash and cash equivalents at end of period Net cash provided by financing activitiesĮffect of foreign currency exchange rate on cash and cash equivalents Proceeds from issuance of common stock pursuant to option exercises Proceeds from sales of common stock, net of offering cost Net cash provided by (used in) investing activities See accompanying notes to condensed consolidated financial statementsĬondensed Consolidated Statements of Operations and Comprehensive LossĪdjustments to reconcile net loss to net cash used in operating activities:Īmortization of premium on marketable securitiesĬhanges in operating assets and liabilities: Total liabilities and stockholders’ equity Outstanding at Maand December 31, 2015, respectivelyĪccumulated other comprehensive income (loss) ![]() Prepaid expenses and other current assetsĪccrued expenses and other current liabilities Unregistered Sales of Equity Securities and Use of Proceeds ![]() Quantitative and Qualitative Disclosures About Market Risk Management’s Discussion and Analysis of Financial Condition and Results of Operation Notes to Condensed Consolidated Financial Statements Unaudited Condensed Consolidated Financial StatementsĬondensed Consolidated Balance Sheets as of Maand December 31, 2015Ĭondensed Consolidated Statements of Operations and Comprehensive Loss for the three months ended Maand 2015Ĭondensed Consolidated Statements of Cash Flows for three months ended Maand 2015 See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ![]() (Registrant’s telephone number, including area code)
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