Vaxcyte Inc
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
PCVX$66.36-1.7%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 | $(402,266) | $(223,485) | $(100,077) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 3,156 | 2,577 | 1,800 |
| Stock-based compensation expense | 48,760 | 23,650 | 10,729 |
| Non-cash payments for acquired manufacturing rights | — | 7,995 | — |
| Loss on disposal of assets | — | 44 | 97 |
| Asset impairment charges | — | 213 | — |
| Amortization of operating lease right-of-use assets | 7,015 | 6,619 | 1,657 |
| Net amortization (accretion) of premium (discounts) on investments | (34,775) | (947) | 1,406 |
| Changes in operating assets and liabilities: | |||
| Prepaid expenses and other current assets | 17,870 | 433 | (7,369) |
| Operating lease right-of-use assets | (16,724) | — | — |
| Other assets | (33,007) | (465) | (3,539) |
| Operating lease liabilities | 11,284 | 1,151 | (12,856) |
| Accounts payable | 11,225 | 2,896 | (12,470) |
| Accrued compensation | 9,876 | (2,275) | 3,170 |
| Accrued manufacturing expenses | 44,501 | 3,826 | (8,572) |
| Accrued expenses | 36,295 | 7,171 | 4,631 |
| Net cash used in operating activities | (296,790) | (170,597) | (121,393) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (16,062) | (5,848) | (6,555) |
| Purchases of investments | (1,329,896) | (102,745) | (336,341) |
| Manufacturing facility and equipment construction-in-progress | (51,815) | — | — |
| Maturities of investments | 611,876 | 168,691 | 100,500 |
| Sales of investments | 12,586 | 14,480 | 30,062 |
| Proceeds from sales of property and equipment | — | 7 | 26 |
| Net cash (used in) provided by investing activities | (773,311) | 74,585 | (212,308) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of common stock and pre-funded warrants from follow-on offerings, net of issuance costs | 545,302 | 759,181 | — |
| Proceeds from issuance of common stock under ATM Sales Program, net of issuance costs | 90,741 | 97,299 | 13,896 |
| Proceeds from exercise of common stock options | 5,608 | 4,895 | 3,012 |
| Proceeds from issuance of common stock under Employee Stock Purchase Plan | 2,038 | 1,033 | 888 |
| Release of restricted stock units | (3,876) | (861) | — |
| Net cash provided by financing activities | 639,813 | 861,547 | 17,796 |
| Effect of exchange rate changes on cash and cash equivalents | (6,686) | 137 | (439) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (436,974) | 765,672 | (316,344) |
| Cash, cash equivalents and restricted cash, beginning of period | 835,528 | 69,856 | 386,200 |
| Cash, cash equivalents and restricted cash, end of period | $398,554 | $835,528 | $69,856 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for interest | $— | $2 | $7 |
| Supplemental disclosures of non-cash investing and financing activities: | |||
| Purchases of property and equipment recorded in accounts payable and accrued expenses | $8,510 | $110 | $766 |
| Issuance of common stock for acquired manufacturing rights | $— | $7,995 | $— |
| Stock issued for payment of accounts payable | $— | $— | $10,000 |
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