Kodiak Sciences Inc
For the period ended Dec 31, 2023. Filed Mar 28, 2024.
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FY2023 · Filed Mar 28, 2024
KOD$108.06+0.9%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
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities | |||
| Net loss | $(260,491) | $(333,823) | $(266,990) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation | 18,298 | 3,796 | 1,003 |
| Stock-based compensation | 88,556 | 106,033 | 61,385 |
| Loss on disposal of long-lived assets | 2 | — | 120 |
| Net amortization (accretion) of premium (discount) on marketable securities | (846) | (1,068) | 25 |
| Settlement of derivative contracts | — | (616) | — |
| Amortization of operating lease right-of-use asset | 7,649 | 7,205 | 7,708 |
| Amortization of issuance costs | 4 | 53 | 53 |
| Changes in assets and liabilities: | |||
| Prepaid expenses and other current assets | 8,451 | (2,744) | (270) |
| Other assets | 426 | 7,384 | 1,465 |
| Accounts payable | 5,597 | 1,660 | (2,094) |
| Accrued and other current liabilities | (12,907) | (2,246) | 13,511 |
| Operating lease liability | (8,922) | 7,907 | 1,814 |
| Net cash provided by (used in) operating activities | (154,183) | (206,459) | (182,270) |
| Cash flows from investing activities | |||
| Purchase of property and equipment | (41,350) | (37,021) | (17,032) |
| Deposits on property and equipment | (77) | (10,342) | (46,266) |
| Purchase of marketable securities | (49,347) | (427,766) | — |
| Maturities of marketable securities | 340,000 | 138,000 | 24,500 |
| Proceeds from derivative activity | — | 616 | — |
| Net cash provided by (used in) investing activities | 249,226 | (336,513) | (38,798) |
| Cash flows from financing activities | |||
| Proceeds from issuance of common stock upon options exercise | 60 | 1,770 | 7,743 |
| Proceeds from issuance of common stock pursuant to employee stock purchase plan | 182 | 174 | 484 |
| Principal payments of tenant improvement allowance payable | (211) | (49) | (45) |
| Net cash provided by (used in) financing activities | 31 | 1,895 | 8,182 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 95,074 | (541,077) | (212,886) |
| Cash, cash equivalents and restricted cash, at beginning of period | 196,757 | 737,834 | 950,720 |
| Cash, cash equivalents and restricted cash, at end of period | $291,831 | $196,757 | $737,834 |
| Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets | |||
| Cash and cash equivalents | $285,507 | $190,433 | $731,510 |
| Restricted cash | 6,324 | 6,324 | 6,324 |
| Total cash, cash equivalents and restricted cash in consolidated balance sheets | $291,831 | $196,757 | $737,834 |
| Supplemental cash flow information: | |||
| Cash paid for interest | $13 | $18 | $22 |
| Supplemental disclosures of non-cash investing and financing information: | |||
| Operating lease right-of-use asset obtained in exchange for operating lease liability | $2,668 | $(170) | $773 |
| Purchase of property and equipment under accounts payable and accruals | $— | $2,917 | $21,088 |
| Reclassification of deposits to property and equipment | $44,300 | $5,363 | $2,370 |
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