PRECISION BIOSCIENCES INC
For the period ended Sep 30, 2024. Filed Nov 4, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 4, 2024
DTIL$9.50-1.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Statements of Cash Flows
(In thousands)
| For the Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows used in operating activities: | ||
| Net income (loss) | $24,912 | $(45,030) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 2,950 | 5,538 |
| Share-based compensation | 9,033 | 11,071 |
| Loss (gain) on disposal of assets | 254 | (63) |
| Gain on disposal of business | - | (8,446) |
| Non-cash interest expense | 228 | 315 |
| Amortization of right-of-use assets | 870 | 1,161 |
| (Gain) loss on changes in fair value | (917) | 458 |
| Loss from equity method investment | 112 | 4,060 |
| Amortization of discount on note receivable | (506) | (313) |
| Gain on change in fair value of warrant liability | (21,798) | — |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses | (1,137) | (1,047) |
| Marketable securities | 607 | — |
| Convertible note receivable | 9,750 | — |
| Accounts receivable | 713 | (2,773) |
| Contract asset | (1,359) | — |
| Other assets and other current assets | (147) | 1,539 |
| Accounts payable | (2,168) | (495) |
| Other liabilities and other current liabilities | (1,972) | (3,101) |
| Deferred revenue | (58,360) | (37,721) |
| Lease liabilities | (827) | (844) |
| Net cash used in operating activities | (39,762) | (75,691) |
| Cash flows (used in) provided by investing activities: | ||
| Proceeds from disposal of business | - | 8,000 |
| Purchases of property, equipment and software | (153) | (1,983) |
| Purchases of intangible assets | (25) | (300) |
| Proceeds from sale of equipment | 60 | 70 |
| Net cash (used in) provided by investing activities | (118) | 5,787 |
| Cash flows provided by financing activities: | ||
| Proceeds from stock option exercises | — | 30 |
| Proceeds from employee stock purchase plan | 249 | 370 |
| Proceeds from offering of common stock and warrants, net of issuance costs | 43,393 | 2,159 |
| Proceeds from issuance of common stock to collaboration partners and licensees | 905 | — |
| Repayment of revolving credit facility | (22,505) | — |
| Borrowings from term loan debt facility, net of issuance costs paid to lender | 22,488 | — |
| Net cash provided by financing activities | 44,530 | 2,559 |
| Net increase (decrease) in cash and cash equivalents | 4,650 | (67,345) |
| Cash, cash equivalents, and restricted cash — beginning of period | 116,678 | 189,576 |
| Cash, cash equivalents, and restricted cash — end of period | $121,328 | $122,231 |
| Reconciliation of cash, cash equivalents and restricted cash | ||
| Cash and cash equivalents | $98,752 | $122,231 |
| Restricted cash | $22,576 | $— |
| Total of cash, cash equivalents and restricted cash | $121,328 | $122,231 |
| Supplemental disclosures of cash flow information: | ||
| Fair value of convertible note received from disposal of business | $— | $11,366 |
| Cash paid for interest | $1,366 | $1,491 |
Precision BioSciences, Inc.
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