Avidity Biosciences, Inc. (RNA) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18
	10-K	10-K	10-K	10-K	S-1/A
Revenues	9.2	9.3	6.8	2.3	0.4
Revenue growth	-1.1%	37.4%	192.7%	511.9%
Cost of goods sold	0.0	0.0	0.0	0.0	10.9
Gross profit	9.2	9.3	6.8	2.3	-10.5
Gross margin	100.0%	100.0%	100.0%	100.0%	-2769.9%
Selling, general and administrative [+]	37.7	26.2	13.5	5.1	2.4
General and administrative	37.7	26.2	13.5	5.1	2.4
Research and development	150.4	101.2	37.6	14.5
Other operating expenses					-2.4
EBITDA [+]	-177.5	-117.4	-43.9	-17.0	-10.1
EBITDA growth	51.2%	167.4%	158.5%	67.9%
EBITDA margin	-1924.6%	-1259.0%	-646.9%	-732.4%	-2668.9%
Depreciation and amortization	1.4	0.6	0.4	0.3	0.4
EBIT [+]	-178.9	-118.1	-44.3	-17.3	-10.5
EBIT growth	51.6%	166.6%	155.5%	65.1%
EBIT margin	-1939.6%	-1265.8%	-652.4%	-747.4%	-2769.9%
Interest expense, net [+]	-5.0	-0.1	0.0	7.4
Interest expense			0.2	7.4
Interest income	5.0	0.1	0.2
Other income (expense), net [+]	-0.1	-0.1	-0.1	0.0	-0.7
Change in fair value of warrants				0.0
Other	-0.1	-0.1	-0.1
Pre-tax income	-174.0	-118.0	-44.4	-24.7	-11.2
Income taxes	0.0	0.0	0.0	0.0	0.0
Tax rate	0.0%	0.0%	0.0%	0.0%	0.0%
Net income	-174.0	-118.0	-44.4	-24.7	-11.2
Net margin	-1886.3%	-1265.4%	-653.5%	-1066.6%	-2959.4%

Basic EPS [+]	($3.34)	($2.85)	($2.05)	($9.12)
Growth	17.1%	39.1%	-77.5%
Diluted EPS [+]	($3.34)	($2.85)	($2.05)	($9.12)
Growth	17.1%	39.1%	-77.5%

Shares outstanding (basic) [+]	52.2	41.4	21.7	2.7
Growth	25.9%	91.2%	698.5%
Shares outstanding (diluted) [+]	52.2	41.4	21.7	2.7
Growth	25.9%	91.2%	698.5%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.