AVROBIO Inc
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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FY2023 · Filed Mar 14, 2024
TECX$21.97+0.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(amounts in thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $12,157 | $(105,890) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Gain on asset sale | (83,736) | — |
| Stock-based compensation expense | 6,891 | 11,522 |
| Depreciation and amortization expense | 617 | 1,440 |
| Non-cash asset impairment charges | 1,877 | — |
| Loss on disposal of property and equipment | — | 59 |
| Non-cash interest expense | 1,074 | 331 |
| Non-cash income tax expense | 377 | — |
| (Gain)/loss on impairment of leasehold improvements | — | 86 |
| (Gain)/loss on extinguishment of operating lease | (72) | (81) |
| Non-cash lease expense | 1,912 | 2,726 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 5,154 | 2,466 |
| Other assets | 40 | 34 |
| Accounts payable | (357) | (3,102) |
| Current and non-current operating lease liabilities | (2,464) | (2,893) |
| Accrued expenses and other current liabilities | (6,660) | (3,906) |
| Net cash used in operating activities | (63,190) | (97,208) |
| Cash flows from investing activities: | ||
| Proceeds from asset sale, net | 83,736 | — |
| Proceeds from the sale of property, plant, and equipment | 1,348 | — |
| Purchases of property and equipment | (8) | (267) |
| Net cash provided by (used in) investing activities | 85,076 | (267) |
| Cash flows from financing activities: | ||
| Repayment of note payable, including end of term charge | (16,350) | — |
| Exercise of stock options | 235 | 58 |
| Proceeds from issuance of common stock under 2018 employee stock purchase plan | 86 | 204 |
| Net cash (used in) provided by financing activities | (16,029) | 262 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 5,857 | (97,213) |
| Cash, cash equivalents and restricted cash at beginning of period | 92,846 | 190,059 |
| Cash, cash equivalents and restricted cash at end of period | $98,703 | $92,846 |
| Supplemental Cash: | ||
| Interest paid | $831 | $1,425 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Right of use asset obtained in exchange for operating lease liabilities | $2,392 | $4,319 |
| Reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets: | ||
| Cash and cash equivalents, end of period | $98,020 | $92,563 |
| Restricted cash | 683 | 283 |
| Cash, cash equivalents and restricted cash, end of period | $98,703 | $92,846 |
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