Cogent Biosciences Inc
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
COGT$31.64-5.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net loss | $(192,410) | $(140,241) | $(72,273) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization expense | 2,270 | 842 | 147 |
| Stock-based compensation expense | 30,621 | 18,368 | 11,686 |
| Amortization of right-of-use operating lease assets | 1,318 | 5,036 | 1,844 |
| Change in fair value of CVR liability | (1,700) | (1,360) | (343) |
| Net amortization (accretion) of premiums (discounts) on marketable securities | (5,173) | (1,638) | — |
| Loss on disposal of property and equipment | 8 | — | — |
| Right-of-use asset impairment | — | (396) | — |
| Changes in operating assets and liabilities: | |||
| Prepaid expenses and other current assets | (626) | (1,486) | (227) |
| Other assets | (119) | (1,018) | (3,727) |
| Accounts payable | 4,813 | 2,359 | 2,751 |
| Accrued expenses and other current liabilities | 8,170 | 9,586 | 3,431 |
| Operating lease liability | (796) | (8,690) | (2,052) |
| Net cash used in operating activities | (153,624) | (118,638) | (58,763) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (2,796) | (6,863) | (1,719) |
| Purchases of marketable securities | (348,803) | (177,855) | — |
| Maturities and sales of marketable securities | 253,775 | 60,000 | — |
| Net cash used in investing activities | (97,824) | (124,718) | (1,719) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of shares of common stock, net of offering costs of $10.7 million | 161,819 | — | — |
| Proceeds from issuance of shares of common stock and pre-funded warrants, net of offering costs of $10.8 million | — | 161,945 | — |
| Proceeds from issuance of common stock under ATM, net of issuance costs of $1.2 million | — | — | 38,006 |
| Proceeds from issuance of common stock upon stock option exercises | 965 | 1,238 | 24 |
| Proceeds from pre-funded warrant exercises | — | 24 | — |
| Proceeds from issuance of stock from employee stock purchase plan | 752 | 351 | 31 |
| Payments to CVR Holders | — | — | (85) |
| Net cash provided by financing activities | 163,536 | 163,558 | 37,976 |
| Net decrease in cash, cash equivalents and restricted cash | (87,912) | (79,798) | (22,506) |
| Cash, cash equivalents and restricted cash at beginning of period | 141,141 | 220,939 | 243,445 |
| Cash, cash equivalents and restricted cash at end of period | $53,229 | $141,141 | $220,939 |
| Supplemental disclosure of cash flow information: | |||
| Right-of-use assets obtained in exchange for new operating lease liabilities | — | 25,184 | — |
| Supplemental disclosure of noncash investing and financing information: | |||
| Conversion of Series A non-voting convertible preferred stock into common stock | 5,795 | 19,570 | 25,481 |
| Offering costs included in accounts payable and accrued expenses | 30 | 30 | — |
| Property & equipment included in accounts payable and accrued expenses | 43 | 58 | — |
| Issuance of common shares in partial settlement of CVR liability | — | — | 2,043 |
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