Acrivon Therapeutics Inc
For the period ended Dec 31, 2023. Filed Mar 28, 2024.
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FY2023 · Filed Mar 28, 2024
ACRV$1.57-0.6%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 loss | $(60,388) | $(31,167) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 536 | 364 |
| Stock-based compensation expense | 11,618 | 2,185 |
| Non-cash lease expense | 778 | 731 |
| Net amortization of premiums and accretion of discounts on investments | (3,323) | (698) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 2,110 | (3,539) |
| Accounts payable | 3,609 | (245) |
| Accrued expenses and other liabilities | 3,173 | 2,919 |
| Operating lease liabilities | (754) | (667) |
| Net cash used in operating activities | (42,641) | (30,117) |
| Cash flows from investing activities: | ||
| Purchases of short-term and long-term investments | (56,528) | (150,178) |
| Proceeds from maturities of short-term investments | 108,533 | 10,668 |
| Purchases of property and equipment | (1,288) | (2,166) |
| Net cash provided by (used in) investing activities | 50,717 | (141,676) |
| Cash flows from financing activities: | ||
| Proceeds from initial public offering of common stock, net of commissions and underwriting discounts | — | 99,808 |
| Proceeds from issuance of common stock upon Concurrent Private Placement, net of placement agent fee | — | 4,650 |
| Proceeds from exercise of stock options | 775 | 24 |
| Payments of offering costs | (1,032) | (2,773) |
| Payments of tax withholdings related to vesting of restricted stock units | (1,297) | — |
| Net cash (used in) provided by financing activities | (1,554) | 101,709 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 6,522 | (70,084) |
| Cash, cash equivalents and restricted cash at beginning of period | 29,907 | 99,991 |
| Cash, cash equivalents and restricted cash at end of period | $36,429 | $29,907 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Conversion of convertible preferred stock to common stock | $— | $122,518 |
| Purchases of property and equipment included in accounts payable | $635 | $— |
| Supplemental cash flow information: | ||
| Right-of-use assets obtained in exchange for operating lease liability | $437 | $— |
| Deferred offering costs in accounts payable and accrued expenses and other current liabilities | $85 | $866 |
| Reconciliation of cash, cash equivalents, and restricted cash: | ||
| Cash and cash equivalents | $36,015 | $29,519 |
| Restricted cash | 414 | 388 |
| Total cash, cash equivalents, and restricted cash | $36,429 | $29,907 |
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