GYRE THERAPEUTICS INC

For the period ended Dec 31, 2023. Filed Mar 27, 2024.

About this filing

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 Mar 27, 2024

GYRE$4.23-9.0%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statem ents of Cash Flows

	Year Ended December 31,
	2023	2022
Operating Activities
Net (loss) income from operations	$(85,480)	$4,314
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Acquired in-process research and development	83,104	—
Stock-based compensation	7,281	13,366
Depreciation and amortization	1,074	1,087
Noncash lease expense	355	404
Amortization of land use rights	40	42
Deferred income taxes, net	(1,160)	(838)
Bad debt expense and other non-cash items	(61)	22
Accrued interest on long-term certificates of deposit	(633)	(178)
Change in fair value of long-term receivable	(39)	—
Change in fair value of derivative liabilities	39	—
Change in fair value of warrant liability	9,261	—
Equity loss of unconsolidated affiliates	1,314	251
Divestiture losses	2,711	—
Loss on disposal of property and equipment	628	4
Changes in operating assets and liabilities:
Accounts and note receivables	1,398	(7,920)
Other receivables from GNI	(96)	—
Inventories	1,747	(879)
Prepaid and other assets	(82)	973
Income tax payable	3,003	(1,344)
Accounts payable	192	(112)
Other noncurrent liabilities	(102)	—
Due to related parties	425	—
Accrued expenses and other liabilities	1,446	1,914
Operating lease liabilities	(473)	(429)
Net cash provided by operating activities	25,892	10,677
Investing Activities
Acquisition of intangible assets	(69)	(13)
Purchase of certificates of deposit	(15,735)	(7,484)
Purchase of property and equipment	(8,517)	(4,985)
Proceeds from sale of equipment	664	—
Purchase of equity method investment	(1,000)	(1,332)
Cash and cash equivalents acquired in connection with the GNI USA Contributions	5,587	—
Payments made for acquisition costs	(124)	—
Cash balance in a disposed subsidiary	(566)	—
Net cash used in investing activities	(19,760)	(13,814)
Financing Activities
Proceeds from issuance of Convertible Preferred Stock and Preferred Stock Warrants under the Private Placement	2,500	—
Net cash provided by financing activities	2,500	—
Effect of exchange rate changes on cash and cash equivalents	(298)	(1,891)
Net increase (decrease) in cash and cash equivalents	8,334	(5,028)
Cash and cash equivalents at beginning of the period	25,175	30,203
Cash and cash equivalents at end of period	$33,509	$25,175
Supplemental Disclosure of Non-Cash Financing and Investing Activities:
Deemed issuance of common stock and Convertible Preferred Stock to former stockholders of Catalyst upon the GNI USA Contributions	$84,348	$—
Advance payment for Convertible Preferred Stock and Preferred Stock Warrants acquired upon the GNI USA Contributions	$2,500	$—
Disposal consideration in other receivables from GNI	$768	$—
Acquisition costs in due to related parties	$535	$—
Right-of-use asset obtained in exchange for operating lease liabilities	$277	$57
Proceeds from the exercise of stock options included in other receivable	$166	$—
Purchase of property and equipment included in accounts payable	$—	$727
Supplemental Disclosure of Cash Flow Information:
Cash paid for income taxes	$6,346	$6,306

The accompanying notes are an integral part of these consolidated financial statements

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.