Alvotech (NASDAQ: ALVO, or the “Company”), a global biotech company
specializing in the development and manufacture of biosimilar
medicines for patients worldwide, today reported unaudited
financial results for the first three months of 2024 and provided a
summary of recent corporate highlights.
“This year is turning out to be the busiest in
Alvotech’s history. We secured U.S. Food and Drug Administration
(FDA) approval of AVT04, our biosimilar to Stelara® in the U.S.,
signed a key strategic partnership and commercialization agreement
for our high concentration interchangeable biosimilar to Humira® in
the U.S., under private label, as well as a new commercialization
agreement in the U.S. and Europe for AVT03, our proposed biosimilar
to Prolia® and Xgeva®. In addition to the U.S. private-label
commercialization agreement, our partner Teva is making great
progress on discussions positioning our Humira® biosimilar on
formularies in the U.S.,” said Robert Wessman, Chairman and CEO of
Alvotech. “Pipeline development progressed briskly as well. On top
of the recently announced results from our confirmatory patient
study for AVT06, our biosimilar candidate to Eyela®, we’ve now
announced positive top-line results from the confirmatory patient
study for AVT05, our proposed biosimilar to Simponi® and are thus
on track to file marketing applications for at least three
biosimilar candidates in the second half of this year.
Joel Morales, Chief Financial Officer of Alvotech,
added: “Based on rapid progress in commercialization and
development, we raise our revenue guidance for 2024, to $400 - $500
million and tighten our guidance for EBIDTA to $100 - $150 million
for the full year.”
Recent Highlights
Alvotech and its commercialization partner in the
U.S., Teva Pharmaceuticals (“Teva”), announced that the FDA
approved AVT04 (ustekinumab-aekn) for marketing in the U.S. as a
biosimilar to Stelara, under the tradename Selarsdi. The biosimilar
has been launched in Canada, will be launched in Japan imminently
in May, and is expected to be launched in Europe in Q3 2024 and in
the U.S. in February next year.
Alvotech announced a U.S. strategic partnership
agreement with Quallent Pharmaceuticals (“Quallent”), a subsidiary
of Cigna group. Alvotech’s high-concentration interchangeable
biosimilar to Humira (adalimumab) will be distributed under
Quallent’s private label. As this is the first high-concentration,
citrate-free biosimilar to Humira granted an interchangeability
status by the FDA, Alvotech will have interchangeable exclusivity
for the high-concentration presentation 40mg/0.4mL.
Alvotech signed a commercial partnership agreement
with Dr. Reddy’s Laboratories Ltd. (“Dr. Reddy’s”), for the
commercialization of AVT03, Alvotech’s biosimilar candidate to
Prolia® and Xgeva® (denosumab). The commercialization agreement
includes an upfront payment to Alvotech with subsequent payments
upon certain development and commercialization milestones as well
as royalties on product sales. Dr. Reddy’s commercialization rights
are exclusive for the U.S. and semi-exclusive for Europe.
Alvotech announced positive top-line results from a
confirmatory clinical study for AVT05, a proposed biosimilar to
Simponi® and Simponi Aria® (golimumab). Alvotech is the first
company to announce positive topline results of a clinical trial
using a proposed biosimilar to Simponi and Simponi Aria and is one
of only two companies known to have initiated such a patient
study.
Financial Results for First Three Months of
2024
Cash position and sources of liquidity: As of
March 31, 2024, the Company had cash and cash equivalents of $64.8
million, excluding $25.0 million of restricted cash. In addition,
the Company had borrowings of $978.1 million, including $37.6
million of current portion of borrowings, as of March 31, 2024.
Product Revenue: Product revenue was $12.4
million for the three months ended March 31, 2024, compared to
$15.7 million for the same three months of 2023. Revenue for the
three months ended March 31, 2024, consisted of product revenue
from sales of AVT02 in select European countries and Canada, launch
of AVT02 in the U.S and launch of AVT04 in Canada.
License and Other Revenue: License and other
revenue was $24.4 million for the three months ended March 31,
2024. No license and other revenue were recognized during the first
three months ended March 31, 2023. The license and other revenue of
$24.4 million was primarily attributable to the recognition of a
$6.5 million research and development milestone due to the approval
of AVT04 in Europe and $16.8 million relative to research and
development milestone due to the CTA submission for the AVT16
clinical program.
Cost of product revenue: Cost of product
revenue was $20.0 million for the three months ended March 31,
2024, compared to $39.1 million for the same three months of 2023,
as a result of sales in the period, including the launch of AVT04
in Canada, tempered by lower production-related charges and other
costs associated with FDA inspection readiness. Cost of product
revenue for the period is disproportionate relative to product
revenue due to the timing of new launches and elevated
production-related charges, resulting in higher costs than revenues
recognized for the period. The Company expects this relationship to
continue normalizing with increased production from the scaling and
expansion of new or recent launches. The Company estimates that the
anticipated increase in sales volumes will result in a greater
absorption of fixed manufacturing costs.
Research and development (R&D)
expenses: R&D expenses were $49.9 million for the three
months ended March 31, 2024, compared to $50.9 million for the same
three months of 2023. The slight decrease was primarily driven by a
one-time charge of $18.5 million relating to the termination of the
co-development agreement with Biosana for AVT23 recognized during
the three months of 2023, and a $17.8 million increase in direct
program expenses mainly from five biosimilar candidates, AVT03,
AVT05, AVT06, AVT16 and AVT23 that are in clinical phase.
General and administrative (G&A)
expenses: G&A expenses were $15.5 million for the three
months ended March 31, 2024, compared to $22.2 million for the same
three months of 2023. The decrease in G&A expenses was
primarily attributable to $3.7 million in lower 3rd party services,
lower insurance premiums and less headcount, coupled with a $1.9
million decrease in expenses for share-based payments.
Finance income: Finance income was $0.8
million for the three months ended March 31, 2024, compared to $1.2
million for the same three months of 2023. This was primarily
attributable to interests received on bank accounts resulting from
lower cash balances versus the same period in the prior year.
Finance costs: Finance costs were $184.1
million for the three months ended March 31, 2024, compared to
$207.6 million for the same three months of 2023. The decrease was
primarily attributable to lower fair value of derivative
liabilities from $179.1 million for the three months ended March
31, 2023, to $140.9 million for the three months ended March 31,
2024, partially offset by an increase in interest charged on
additional borrowings and convertible bonds issued during 2023.
Exchange rate differences: Exchange rate
differences resulted in a gain of $6.5 million for the three months
ended March 31, 2024, compared to a loss of $1.7 million for the
same three months of 2023. The increase was primarily driven by the
movements in the exchange rate of foreign currencies, predominantly
Icelandic krona and euros.
Income tax benefit: Income tax benefit was
$6.4 million for the three months ended March 31, 2024, compared to
$29.4 million for the same three months of 2023. The decrease was
mainly driven by a decrease in operating losses and an unfavorable
foreign currency translation effect during the three months ended
March 31, 2024 due to the weakening of the Icelandic krona against
the U.S. dollar.
Loss for the Period: Reported net loss was
$218.7 million, or ($0.89) per share on a basic and diluted basis,
for the three months ended March 31, 2024, compared to a reported
net loss of $276.2 million, or ($1.24) per share on a basic and
diluted basis, for the same three months of 2023. As mentioned
above, the net loss for the period is heavily impacted by the fair
value costs associated with our derivative liabilities.
Business Update Conference
Call
Alvotech will conduct a business update conference
call and live webcast on Wednesday, May 22, 2024, at 8:00 am EDT
(12:00 pm GMT). Registration for the conference call and access to
the live webcast is found on
https://investors.alvotech.com/events/event-details/q1-2024-earnings,
where you will also be able to find a replay of the webcast,
following the call for 90 days.
About AVT02 (adalimumab) AVT02 is
a monoclonal antibody and has been approved as a biosimilar to
Humira® (adalimumab) in over 50 countries globally, including the
U.S., Europe, Canada, Australia, Egypt, Saudi Arabia and South
Africa. It is currently marketed in multiple European countries as
HUKYNDRA and LIBMYRIS, in Canada as SIMLANDI and in Australia as
ADALACIP. Dossiers are also under review in multiple countries
globally.
About AVT04 (ustekinumab) AVT04 is
a monoclonal antibody and a biosimilar to Stelara® (ustekinumab).
Ustekinumab binds to two cytokines, IL-12 and IL-23, that are
involved in inflammatory and immune responses [1]. AVT04 has been
launched in Canada as JAMTEKI and has received market authorization
in Japan as USTEKINUMAB BS (F), in the EEA as UZPRUVO and in the
U.S. as SELARSDI. Dossiers are also under review in multiple
countries globally.
About AVT03 (denosumab) AVT03 is a
human monoclonal antibody and a biosimilar candidate to Prolia® and
Xgeva® (denosumab). Denosumab targets and binds with high affinity
and specificity to the RANK ligand membrane protein, preventing the
RANK ligand/RANK interaction from occurring, resulting in reduced
osteoclast numbers and function, thereby decreasing bone resorption
and cancer-induced bone destruction [2]. AVT03 is an
investigational product and has not received regulatory approval in
any country. Biosimiliarity has not been established by regulatory
authorities and is not claimed.
About AVT05 (golimumab) AVT05 is a
biosimilar candidate for Simponi® and Simponi Aria® (golimumab).
Golimumab is a monoclonal antibody that inhibits tumor necrosis
factor (TNF) alpha. Elevated TNF alpha levels have been implicated
in several chronic inflammatory diseases such as rheumatoid
arthritis, psoriatic arthritis, and ankylosing spondylitis [3].
AVT05 is an investigational product and has not received regulatory
approval in any country. Biosimilarity has not been established by
regulatory authorities and is not claimed.
About AVT06 (aflibercept) AVT06 is
a recombinant fusion protein and a biosimilar candidate to Eylea®
(aflibercept), which binds vascular endothelial growth factors
(VEGF), inhibiting the binding and activation of VEGF receptors,
neovascularization, and vascular permeability [4]. AVT06 is an
investigational product and has not received regulatory approval in
any country. Biosimilarity has not been established by regulatory
authorities and is not claimed.
Sources
[1]
https://www.ema.europa.eu/en/documents/product-information/uzpruvo-epar-product-information_en.pdf
[2]
https://www.pi.amgen.com/-/media/Project/Amgen/Repository/pi-amgen-com/Prolia/prolia_pi.pdf
[3]
https://www.janssenlabels.com/package-insert/product-monograph/prescribing-information/SIMPONI-pi.pdf
[4] https://www.regeneron.com/downloads/eylea_fpi.pdf
Use of trademarks
Humira is a registered trademark of AbbVie Inc. Stelara is a
registered trademark of Johnson & Johnson Inc. Prolia and Xgeva
are registered trademarks of Amgen Inc. Stelara, Simponi and
Simponi Aria are registered trademarks of Johnson & Johnson
Inc. Elyea is a registered trademark of Regeneron Pharmaceuticals
Inc.
About Alvotech
Alvotech is a biotech company, founded by Robert Wessman,
focused solely on the development and manufacture of biosimilar
medicines for patients worldwide. Alvotech seeks to be a global
leader in the biosimilar space by delivering high quality,
cost-effective products, and services, enabled by a fully
integrated approach and broad in-house capabilities. Alvotech’s
current pipeline contains eight biosimilar candidates aimed at
treating autoimmune disorders, eye disorders, osteoporosis,
respiratory disease, and cancer. Alvotech has formed a network of
strategic commercial partnerships to provide global reach and
leverage local expertise in markets that include the United States,
Europe, Japan, China, and other Asian countries and large parts of
South America, Africa and the Middle East. Alvotech’s commercial
partners include Teva Pharmaceuticals, a US affiliate of Teva
Pharmaceutical Industries Ltd. (US), STADA Arzneimittel AG (EU),
Fuji Pharma Co., Ltd (Japan), Advanz Pharma (EEA, UK, Switzerland,
Canada, Australia and New Zealand), Cipla/Cipla Gulf/Cipla Med Pro
(Australia, New Zealand, South Africa/Africa), JAMP Pharma
Corporation (Canada), Yangtze River Pharmaceutical (Group) Co.,
Ltd. (China), DKSH (Taiwan, Hong Kong, Cambodia, Malaysia,
Singapore, Indonesia, India, Bangladesh and Pakistan), YAS Holding
LLC (Middle East and North Africa), Abdi Ibrahim (Turkey), Kamada
Ltd. (Israel), Mega Labs, Stein, Libbs, Tuteur and Saval (Latin
America) and Lotus Pharmaceuticals Co., Ltd. (Thailand, Vietnam,
Philippines, and South Korea). Each commercial partnership covers a
unique set of product(s) and territories. Except as specifically
set forth therein, Alvotech disclaims responsibility for the
content of periodic filings, disclosures and other reports made
available by its partners. For more information, please visit
www.alvotech.com. None of the information on the Alvotech website
shall be deemed part of this press release.
Please visit our investor portal, and our website or follow us
on social media on LinkedIn, Facebook, Instagram, X and
YouTube.
Alvotech Forward Looking Statements
Certain statements in this communication may be considered
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, as amended.
Forward-looking statements generally relate to future events or the
future financial operating performance of Alvotech and may include,
for example, Alvotech’s expectations regarding competitive
advantages, business prospects and opportunities including pipeline
product development, future plans and intentions, results, level of
activities, performance, goals or achievements or other future
events, regulatory submissions, review and interactions, the
potential approval and commercial launch of its product candidates,
the timing of regulatory approval, and market launches. In some
cases, you can identify forward-looking statements by terminology
such as “may”, “should”, “expect”, “intend”, “will”, “estimate”,
“anticipate”, “believe”, “predict”, “potential”, “aim” or
“continue”, or the negatives of these terms or variations of them
or similar terminology. Such forward-looking statements are subject
to risks, uncertainties, and other factors which could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements. These forward-looking statements
are based upon estimates and assumptions that, while considered
reasonable by Alvotech and its management, are inherently uncertain
and are inherently subject to risks, variability, and
contingencies, many of which are beyond Alvotech’s control. Factors
that may cause actual results to differ materially from current
expectations include, but are not limited to: (1) the ability to
raise substantial additional funding, which may not be available on
acceptable terms or at all; (2) the ability to maintain stock
exchange listing standards; (3) changes in applicable laws or
regulations; (4) the possibility that Alvotech may be adversely
affected by other economic, business, and/or competitive factors;
(5) Alvotech’s estimates of expenses and profitability; (6)
Alvotech’s ability to develop, manufacture and commercialize the
products and product candidates in its pipeline; (7) actions of
regulatory authorities, which may affect the initiation, timing and
progress of clinical studies or future regulatory approvals or
marketing authorizations; (8) the ability of Alvotech or its
partners to respond to inspection findings and resolve deficiencies
to the satisfaction of the regulators; (9) the ability of Alvotech
or its partners to enroll and retain patients in clinical studies;
(10) the ability of Alvotech or its partners to gain approval from
regulators for planned clinical studies, study plans or sites; (11)
the ability of Alvotech’s partners to conduct, supervise and
monitor existing and potential future clinical studies, which may
impact development timelines and plans; (12) Alvotech’s ability to
obtain and maintain regulatory approval or authorizations of its
products, including the timing or likelihood of expansion into
additional markets or geographies; (13) the success of Alvotech’s
current and future collaborations, joint ventures, partnerships or
licensing arrangements; (14) Alvotech’s ability, and that of its
commercial partners, to execute their commercialization strategy
for approved products; (15) Alvotech’s ability to manufacture
sufficient commercial supply of its approved products; (16) the
outcome of ongoing and future litigation regarding Alvotech’s
products and product candidates; (17) the impact of worsening
macroeconomic conditions, including rising inflation and interest
rates and general market conditions, conflicts in Ukraine, the
Middle East and other global geopolitical tension, on the Company’s
business, financial position, strategy and anticipated milestones;
and (18) other risks and uncertainties set forth in the sections
entitled “Risk Factors” and “Cautionary Note Regarding
Forward-Looking Statements” in documents that Alvotech may from
time to time file or furnish with the SEC. There may be additional
risks that Alvotech does not presently know or that Alvotech
currently believes are immaterial that could also cause actual
results to differ from those contained in the forward-looking
statements. Nothing in this communication should be regarded as a
representation by any person that the forward-looking statements
set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You
should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. Alvotech does not
undertake any duty to update these forward-looking statements or to
inform the recipient of any matters of which any of them becomes
aware of which may affect any matter referred to in this
communication. Alvotech disclaims any and all liability for any
loss or damage (whether foreseeable or not) suffered or incurred by
any person or entity as a result of anything contained or omitted
from this communication and such liability is expressly disclaimed.
The recipient agrees that it shall not seek to sue or otherwise
hold Alvotech or any of its directors, officers, employees,
affiliates, agents, advisors, or representatives liable in any
respect for the provision of this communication, the information
contained in this communication, or the omission of any information
from this communication.
ALVOTECH INVESTOR RELATIONS AND GLOBAL
COMMUNICATIONS
Benedikt Stefansson, Senior Director
alvotech.ir@alvotech.com
Unaudited Condensed Consolidated Interim Statements of
Profit or Loss and Other Comprehensive Income or
Loss |
|
|
|
|
|
|
|
|
|
Three months ended March 31, 2024 |
|
Three months ended March 31, 2023 |
|
|
|
|
USD in thousands,
except for per share amounts |
|
|
|
|
|
|
|
Product
revenue |
12,430 |
|
15,864 |
License and other
revenue |
24,422 |
|
- |
Other
income |
42 |
|
19 |
Cost of product
revenue |
(19,957) |
|
(39,095) |
Research and
development expenses |
(49,868) |
|
(50,864) |
General and
administrative expenses |
(15,488) |
|
(22,198) |
|
|
|
|
Operating
loss |
(48,419) |
|
(96,274) |
|
|
|
|
Share of net loss
of joint venture |
- |
|
(1,164) |
Finance
income |
783 |
|
1,226 |
Finance
costs |
(184,063) |
|
(207,600) |
Exchange rate
differences |
6,532 |
|
(1,748) |
|
|
|
|
Non-operating loss |
(176,748) |
|
(209,286) |
|
|
|
|
Loss
before taxes |
(225,167) |
|
(305,560) |
Income tax
benefit |
6,438 |
|
29,380 |
|
|
|
|
Loss for
the period |
(218,729) |
|
(276,180) |
|
|
|
|
Other
comprehensive loss |
|
|
|
Item that will be
reclassified to profit or loss in subsequent periods: |
|
|
|
Exchange rate
differences on translation of foreign operations |
(820) |
|
648 |
Total
comprehensive loss |
(219,549) |
|
(275,532) |
|
|
|
|
|
|
|
|
Loss per
share |
|
|
|
Basic and diluted
loss for the year per share |
(0.89) |
|
(1.24) |
Unaudited Condensed Consolidated Interim Statement of
Financial Position |
|
|
|
|
|
|
|
|
USD in
thousands |
31 March2024 |
|
31 December2023 |
|
|
|
|
Non-current assets |
|
|
|
Property, plant
and equipment |
235,394 |
|
236,779 |
Right-of-use
assets |
127,440 |
|
119,802 |
Goodwill |
11,779 |
|
12,058 |
Other intangible
assets |
19,370 |
|
19,076 |
Contract
assets |
10,356 |
|
10,856 |
Investment in
joint venture |
18,494 |
|
18,494 |
Other long-term
assets |
2,285 |
|
2,244 |
Restricted
cash |
25,000 |
|
26,132 |
Deferred tax
assets |
318,223 |
|
309,807 |
|
|
|
|
Total
non-current assets |
768,341 |
|
755,248 |
|
|
|
|
Current
assets |
|
|
|
Inventories |
92,236 |
|
74,433 |
Trade
receivables |
41,252 |
|
41,292 |
Contract
assets |
30,059 |
|
35,193 |
Other current
assets |
62,900 |
|
31,871 |
Receivables from
related parties |
1,038 |
|
896 |
Cash and cash
equivalents |
64,811 |
|
11,157 |
|
|
|
|
Total
current assets |
292,296 |
|
194,842 |
|
|
|
|
Total
assets |
1,060,637 |
|
950,090 |
Unaudited Condensed Consolidated Interim Statement of
Financial Position |
|
|
|
|
|
|
|
|
USD in
thousands |
31 March2024 |
|
31 December2023 |
|
|
|
|
Equity |
|
|
|
Share
capital |
2,604 |
|
2,279 |
Share
premium |
1,726,610 |
|
1,229,690 |
Other
reserves |
38,883 |
|
42,911 |
Translation
reserve |
(2,348) |
|
(1,528) |
Accumulated
deficit |
(2,424,574) |
|
(2,205,845) |
|
|
|
|
Total
equity |
(658,825) |
|
(932,493) |
|
|
|
|
Non-current liabilities |
|
|
|
Borrowings |
940,593 |
|
922,134 |
Derivative
financial liabilities |
330,976 |
|
520,553 |
Lease
liabilities |
110,585 |
|
105,632 |
Contract
liabilities |
88,913 |
|
73,261 |
Deferred tax
liability |
1,610 |
|
53 |
|
|
|
|
Total
non-current liabilities |
1,472,677 |
|
1,621,633 |
|
|
|
|
Current
liabilities |
|
|
|
Trade and other
payables |
50,175 |
|
80,563 |
Lease
liabilities |
11,161 |
|
9,683 |
Current
maturities of borrowings |
37,550 |
|
38,025 |
Liabilities to
related parties |
24,532 |
|
9,851 |
Contract
liabilities |
46,258 |
|
59,183 |
Taxes
payable |
1,096 |
|
925 |
Other current
liabilities |
76,013 |
|
62,720 |
|
|
|
|
Total
current liabilities |
246,785 |
|
260,950 |
Total
liabilities |
1,719,462 |
|
1,882,583 |
|
|
|
|
Total
equity and liabilities |
1,060,637 |
|
950,090 |
Unaudited Condensed Consolidated Interim Statements of Cash
Flows |
|
|
|
|
USD in thousands |
Three months ended March 31, 2024 |
|
Three months ended March 31, 2023 |
|
|
|
|
Cash
flows from operating activities |
|
|
|
Loss for the
year |
(218,729) |
|
(276,180) |
Adjustments for non-cash items: |
|
|
|
Long-term incentive
plan expense |
- |
|
6,449 |
Depreciation and
amortization |
7,190 |
|
4,841 |
Change in allowance
for receivables |
- |
|
18,500 |
Change in inventory
reserves |
(5,379) |
|
- |
Share of net loss of
joint venture |
- |
|
1,164 |
Finance
income |
(783) |
|
(1,226) |
Finance
costs |
184,063 |
|
207,600 |
Share-based
payments |
2,828 |
|
- |
Exchange rate
difference |
(6,532) |
|
1,748 |
Income tax
benefit |
(6,438) |
|
(29,380) |
|
|
|
|
Operating
cash flow before movement in working capital |
(43,780) |
|
(66,484) |
Increase in
inventories |
(12,424) |
|
(3,766) |
Increase in trade
receivables |
40 |
|
2,952 |
Increase /
(decrease) in liabilities with related parties |
14,539 |
|
(573) |
(Increase) /
decrease in contract assets |
5,634 |
|
895 |
Increase in other
assets |
(2,959) |
|
5,246 |
Increase in trade
and other payables |
(28,927) |
|
(18,600) |
Increase in
contract liabilities |
4,176 |
|
616 |
(Decrease) /
increase in other liabilities |
(7,139) |
|
(4,477) |
|
|
|
|
Cash used
in operations |
(70,840) |
|
(84,191) |
Interest
received |
26 |
|
21 |
Interest
paid |
(4,403) |
|
(1,845) |
Income tax
paid |
(186) |
|
(116) |
|
|
|
|
Net cash
used in operating activities |
(75,403) |
|
(86,131) |
|
|
|
|
Cash
flows from investing activities |
|
|
|
Acquisition of
property, plant and equipment |
(4,069) |
|
(11,327) |
Acquisition of
intangible assets |
(543) |
|
(2,548) |
Restricted cash
in connection with amended bond agreement |
1,132 |
|
- |
|
|
|
|
Net cash
used in investing activities |
(3,480) |
|
(13,875) |
|
|
|
|
|
|
|
|
|
|
|
|
Cash
flows from financing activities |
|
|
|
Repayments of
borrowings |
(1,629) |
|
(50,812) |
Repayments of
principal portion of lease liabilities |
(2,338) |
|
(1,525) |
Proceeds from new
borrowings |
- |
|
60,421 |
Gross proceeds
from equity offering |
138,049 |
|
136,879 |
Fees from equity
offering |
(5,743) |
|
(4,141) |
Proceeds from
warrants |
4,841 |
|
6,365 |
|
|
|
|
Net cash
generated from financing activities |
133,180 |
|
147,187 |
|
|
|
|
Decrease in cash
and cash equivalents |
54,297 |
|
47,181 |
Cash and cash
equivalents at the beginning of the period |
11,157 |
|
66,427 |
Effect of
movements in exchange rates on cash held |
(643) |
|
2,236 |
|
|
|
|
Cash and
cash equivalents at the end of the period |
64,811 |
|
115,844 |
Grafico Azioni Alvontech (NASDAQ:ALVO)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Alvontech (NASDAQ:ALVO)
Storico
Da Dic 2023 a Dic 2024