AGENUS INC
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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FY2023 · Filed Mar 14, 2024
AGEN$7.02-1.8%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
(Amounts in thousands, except per share amounts)
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net loss | $(257,437) | $(230,656) | $(28,724) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 13,588 | 6,946 | 6,788 |
| Share-based compensation | 22,869 | 18,337 | 19,577 |
| Non-cash royalty revenue | (114,572) | (45,285) | (44,355) |
| Non-cash interest expense | 100,551 | 62,955 | 64,619 |
| Gain on sale or disposal of assets, net | (1,408) | (16,196) | (3,301) |
| Loss on impairment of assets | — | 6,111 | — |
| Gain on partial forgiveness of liability | — | (2,791) | — |
| Loss on modification of debt | — | 1,937 | — |
| Gain on extinguishment of debt | — | — | (6,197) |
| Change in fair value of contingent obligations | (556) | (815) | 11,481 |
| Other, net | 2,007 | — | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (23,461) | 122 | (394) |
| Prepaid expenses | 6,032 | 11,865 | (5,129) |
| Accounts payable | 21,366 | 6,494 | 10,824 |
| Deferred revenue | (12,249) | (10,368) | (21,832) |
| Accrued liabilities and other current liabilities | 20,613 | 2,034 | (1,062) |
| Other operating assets and liabilities | (1,545) | 13,937 | 7,850 |
| Net cash provided by (used in) operating activities | (224,202) | (175,373) | 10,145 |
| Cash flows from investing activities: | |||
| Proceeds from sale of property, plant and equipment | 3,363 | 21,998 | 5,656 |
| Purchases of property, plant and equipment | (9,954) | (53,062) | (33,814) |
| Purchases of available-for-sale securities | (14,647) | (24,629) | (14,992) |
| Proceeds from sale of available-for-sale securities | 30,000 | 25,000 | — |
| Purchase of long-term investment | (5,396) | — | — |
| Proceeds from sale of long-term investment | 34 | — | — |
| Cash paid for business acquisition, net | — | (2,917) | — |
| Net cash provided by (used in) investing activities | 3,400 | (33,610) | (43,150) |
| Cash flows from financing activities: | |||
| Net proceeds from sale of equity | 133,157 | 99,211 | 197,648 |
| Net proceeds from sale of subsidiary shares in an initial public offering | — | — | 22,997 |
| Proceeds from employee stock purchases and option exercises | 807 | 898 | 9,132 |
| Purchase of treasury shares to satisfy tax withholdings | (4,566) | (3,789) | (1,654) |
| Purchase of subsidiary shares | (606) | — | — |
| Payment of contingent purchase price consideration | — | — | (1,542) |
| Repayments of debt | — | — | (462) |
| Payment of finance lease obligations | (8,926) | (490) | (855) |
| Net cash provided by financing activities | 119,866 | 95,830 | 225,264 |
| Effect of exchange rate changes on cash | (628) | (104) | (164) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (101,564) | (113,257) | 192,095 |
| Cash, cash equivalents and restricted cash, beginning of period | 181,343 | 294,600 | 102,505 |
| Cash, cash equivalents and restricted cash, end of period | $79,779 | $181,343 | $294,600 |
| Supplemental cash flow information: | |||
| Cash paid for interest | $3,168 | $1,143 | $1,152 |
| Supplemental disclosures - non-cash activities: | |||
| Purchases of plant and equipment in accounts payable and accrued liabilities | $— | $4,580 | $5,363 |
| Conversion of series C-1 convertible preferred stock to common stock, $0.01 par value | — | — | 26,917 |
| Issuance of common stock, $0.01 par value, for payment of certain employee bonuses | 7,288 | 6,635 | 3,126 |
| Issuance of common stock, $0.01 par value, in connection with payment for services | 690 | 138 | 216 |
| Issuance of common stock, $0.01 par value, for milestone achievement | — | 500 | — |
| Issuance of common stock, $0.01 par value, in connection with business acquisition | — | — | — |
| Issuance of subsidiary shares for employee bonus | 1,011 | 294 | — |
| Issuance of subsidiary shares to noncontrolling interest | — | — | 10,000 |
| Insurance financing agreements | 707 | 1,377 | 1,630 |
| Lease right-of-use assets obtained in exchange for new operating lease liabilities | 318 | 9,206 | 1,649 |
| Lease right-of-use assets obtained in exchange for new finance lease liabilities | 4,812 | 25,027 | 762 |
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