Spero Therapeutics Inc
For the period ended Dec 31, 2023. Filed Mar 13, 2024.
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FY2023 · Filed Mar 13, 2024
SPRO$1.01-5.6%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $22,806 | $(46,415) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation and amortization | 367 | 869 |
| Non-cash lease cost | 969 | 678 |
| Impairment of assets | 5,306 | 635 |
| Share-based compensation | 7,932 | 9,123 |
| Unrealized foreign currency transaction (gain) loss | — | 10 |
| Accretion of premium (discount) on marketable securities | — | 13 |
| Change in fair value of derivative liabilities | — | (917) |
| Non-cash interest expense associated with the sale of future royalties | — | 2,605 |
| Loss on extinguishment of liability related to the sale of future royalties | — | 3,581 |
| Changes in operating assets and liabilities: | ||
| Collaboration receivable, current and non-current - related party | (95,742) | — |
| Other receivables | (461) | 1,547 |
| Prepaid expenses and other current assets | (799) | 5,242 |
| Other assets | (1) | (3) |
| Accounts payable | 761 | (484) |
| Accrued expenses and other current liabilities | (2,416) | (5,377) |
| Deferred revenue, current and non-current | 29,009 | 21,892 |
| Other long-term liabilities | (9) | (42) |
| Operating lease liabilities | (1,104) | (688) |
| Income taxes payable | 387 | — |
| Net cash used in operating activities | (32,995) | (7,731) |
| Cash flows from investing activities: | ||
| Purchases of marketable securities | — | (26,970) |
| Proceeds from maturities of marketable securities | — | 60,777 |
| Net cash provided by investing activities | — | 33,807 |
| Cash flows from financing activities: | ||
| Repayment of liability related to the sale of future royalties | — | (54,485) |
| Proceeds from the issuance of common stock, net of issuance costs | 221 | 14,234 |
| Proceeds from the issuance of common stock related to the GSK Share Purchase Agreement | — | 10,278 |
| Proceeds from stock option exercises | — | 420 |
| Net cash (used in) provided by financing activities | 221 | (29,553) |
| Net increase (decrease) in cash and cash equivalents | (32,774) | (3,477) |
| Cash and cash equivalents at beginning of period | 109,107 | 112,584 |
| Cash and cash equivalents at end of period | $76,333 | $109,107 |
| Supplemental disclosure of cash flow information | ||
| Cash paid for income taxes | $2,212 | $— |
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