Cogent Biosciences Inc
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
COGT$31.64-5.7%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 STATEMENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net loss | $(255,859) | $(192,410) | $(140,241) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation expense | 2,450 | 2,270 | 842 |
| Stock-based compensation expense | 39,740 | 30,621 | 18,368 |
| Amortization of right-of-use operating lease assets | 1,901 | 1,318 | 5,036 |
| Change in fair value of CVR liability | — | (1,700) | (1,360) |
| Net amortization (accretion) of premiums (discounts) on marketable securities | (7,619) | (5,173) | (1,638) |
| Loss on disposal of property and equipment | — | 8 | — |
| Right-of-use asset impairment | — | — | (396) |
| Changes in operating assets and liabilities: | |||
| Prepaid expenses and other current assets | (4,334) | (626) | (1,486) |
| Other assets | 2 | (119) | (1,018) |
| Accounts payable | 1,358 | 4,813 | 2,359 |
| Accrued expenses and other current liabilities | 15,956 | 8,170 | 9,586 |
| Operating lease liability | (1,386) | (796) | (8,690) |
| Net cash used in operating activities | (207,791) | (153,624) | (118,638) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (573) | (2,796) | (6,863) |
| Purchases of marketable securities | (255,603) | (348,803) | (177,855) |
| Maturities and sales of marketable securities | 294,452 | 253,775 | 60,000 |
| Net cash provided by (used in) investing activities | 38,276 | (97,824) | (124,718) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of common stock and Series B non-voting convertible preferred stock in connection with the Private Placement, net of offering costs $11.7 million | 213,336 | — | — |
| Proceeds from issuance of shares of common stock, net of offering costs of $10.7 million | — | 161,819 | — |
| Proceeds from issuance of shares of common stock and pre-funded warrants, net of offering costs of $10.8 million | — | — | 161,945 |
| Proceeds from issuance of common stock upon stock option exercises | 199 | 965 | 1,238 |
| Proceeds from pre-funded warrant exercises | — | — | 24 |
| Proceeds from issuance of stock from employee stock purchase plan | 916 | 752 | 351 |
| Net cash provided by financing activities | 214,451 | 163,536 | 163,558 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 44,936 | (87,912) | (79,798) |
| Cash, cash equivalents and restricted cash at beginning of period | 53,229 | 141,141 | 220,939 |
| Cash, cash equivalents and restricted cash at end of period | $98,165 | $53,229 | $141,141 |
| Supplemental disclosure of cash flow information: | |||
| Right-of-use assets obtained in exchange for new operating lease liabilities | — | — | 25,184 |
| Supplemental disclosure of noncash investing and financing information: | |||
| Offering costs included in accounts payable and accrued expenses | 49 | 30 | 30 |
| Property & equipment included in accounts payable and accrued expenses | — | 43 | 58 |
| Conversion of Series A non-voting convertible preferred stock into common stock | 3,520 | 5,795 | 19,570 |
| Conversion of Series B non-voting convertible preferred stock into common stock | 107,980 | — | — |
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