FIBROGEN INC
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 26, 2024
KYNB$3.57-8.5%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 STATEM ENTS OF CASH FLOWS
(In thousands)
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating activities | |||
| Net loss | $(284,232) | $(293,654) | $(290,023) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation | 9,518 | 10,017 | 10,170 |
| Amortization of finance lease right-of-use assets | 412 | 587 | 4,639 |
| Net accretion of premium and discount on investments | (5,061) | 1,619 | 2,482 |
| Unrealized loss on equity investments | — | — | 30 |
| Investment income in unconsolidated variable interest entity | (2,638) | (1,573) | (1,007) |
| Loss (gain) on disposal of property and equipment | 4 | (1) | 233 |
| Stock-based compensation | 50,767 | 65,601 | 71,161 |
| Acquired in-process research and development expenses | 24,636 | — | 60,000 |
| Non-cash interest expense related to sale of future revenues | 7,734 | 1,036 | — |
| Dividend received from unconsolidated variable interest entity | 2,255 | — | — |
| Impairment of investment | 1,000 | — | — |
| Realized loss on sales of available-for-sale securities | 271 | 5 | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net ($6,009, $(1,158) and $(6,803) from related parties) | 3,433 | 765 | 25,180 |
| Inventories | (1,695) | (10,999) | (14,158) |
| Prepaid expenses and other current assets ($0, $0 and $889 from a related party) | (28,165) | 4,916 | (9,854) |
| Operating lease right-of-use assets | 11,704 | 10,908 | 4,209 |
| Other assets | 256 | 263 | (4,412) |
| Accounts payable ($0, $0 and $(1,118) from a related party) | (15,514) | 5,909 | 805 |
| Accrued and other liabilities ($(24,072), $63,882 and $(20) from a related party) | (49,778) | 90,556 | 16,380 |
| Operating lease liabilities, current | 3,820 | (547) | 503 |
| Deferred revenue ($(23,378), $11,211 and $21,549 from related parties) | (28,166) | (4,130) | 57,637 |
| Accrued interest for finance lease liabilities | (11) | 33 | (75) |
| Operating lease liabilities, non-current | (12,998) | (8,994) | (4,043) |
| Other long-term liabilities | (2,573) | (18,250) | (12,089) |
| Net cash used in operating activities | (315,021) | (145,933) | (82,232) |
| Investing activities | |||
| Purchases of property and equipment | (2,519) | (3,741) | (5,186) |
| Payment made for acquired in-process research and development asset | — | (35,000) | (25,000) |
| Proceeds from sale of property and equipment | — | 6 | — |
| Purchases of available-for-sale securities | (251,830) | (164,023) | (484,144) |
| Cash acquired from consolidation of Fortis | 656 | — | — |
| Proceeds from sales of available-for-sale securities | 6,729 | 7,382 | 4,214 |
| Proceeds from maturities of investments | 400,621 | 284,492 | 83,144 |
| Net cash provided by (used in) investing activities | 153,657 | 89,116 | (426,972) |
| Financing activities | |||
| Proceeds from senior secured term loan facilities, net of issuance costs | 74,078 | — | — |
| Cash paid for transaction costs for senior secured term loan facilities | (2,746) | — | — |
| Repayments of finance lease liabilities | (148) | (135) | (5,489) |
| Repayments of lease obligations | (336) | (403) | (403) |
| Cash paid for payroll taxes on restricted stock unit releases | (237) | (5,167) | (7,372) |
| Proceeds from sale of future revenues, net of issuance costs | — | 49,750 | — |
| Cash paid for transaction costs related to sale of future revenues | — | (1,453) | — |
| Proceeds from issuance of common stock under ATM Program, net of commissions | 48,407 | — | — |
| Proceeds from issuance of common stock under employee stock plans | 3,731 | 4,184 | 12,701 |
| Net cash provided by (used in) financing activities | 122,749 | 46,776 | (563) |
| Effect of exchange rate change on cash and cash equivalents | (3,397) | (5,482) | 2,597 |
| Net decrease in cash and cash equivalents | (42,012) | (15,523) | (507,170) |
| Total cash and cash equivalents at beginning of period | 155,700 | 171,223 | 678,393 |
| Total cash and cash equivalents at end of period | $113,688 | $155,700 | $171,223 |
| Supplemental cash flow information: | |||
| Non cash acquisition in Fortis | $(22,000) | $— | $— |
| Interest payments | 54 | 104 | 94 |
| Balance in accounts payable and accrued liabilities related to purchases of property and equipment | 103 | 428 | 1,009 |
| Balance in accrued liabilities related to issuance costs of secured term loan facilities | — | — | 35,000 |
| Balance in other receivables related to stock option exercise | — | — | 165 |
| Conversion of subsidiary’s convertible note payable to non-controlling interests | $— | $— | $696 |
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