Diligence memo · auto-generated · as of July 3, 2026
Aerovate Therapeutics, Inc.
Aerovate Therapeutics, Inc. looks over-valued against its niche peers and is dormant on financing cadence.
Businessfiled
Aerovate Therapeutics, Inc. operates in Pharmaceuticals, based in BOSTON.
Sub-sector tags: pharma.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Aerovate Therapeutics, Inc. has raised $78M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series C (a $40M–$100M round).
Largest single filing: $76M on 2020-08-05.
Most recent recorded round closed around 2020-08-05.
Valuation (modeled)modeled
Provath models Aerovate Therapeutics, Inc. at approximately $2.6B (range $246M–$6.7B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Over-valued. Modeled value is 1.56× the median modeled value of Series C Pharmaceuticals companies in 2019–2021 (33 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Historic cadence: a new round about every 7 months.
Last raise 5.9 yr ago; this sector typically re-raises about every 13 months.
Silent for over 3× the sector's normal cadence.
The last round stepped up 30.3× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 88% of Pharmaceuticals peers (1613 compared).
Modeled value ranks above 96% of those peers.
Closest niche peers: Verastem, Inc., Sentia Wellness, Inc., Oyster Point Pharma, Inc., Terns Pharmaceuticals, Inc., Theseus Pharmaceuticals, Inc..
Peoplefiled
9 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
Modeled above niche peers — valuation risk on entry.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.