CYTOKINETICS INC
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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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.
FY2024 · Filed Feb 27, 2025
CYTK$56.18+1.9%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)
| Years Ended December 31, | |||||
|---|---|---|---|---|---|
| 2024 · 2023 · 2022 | |||||
| Cash flows from operating activities: | |||||
| Net loss | $(589,526) | $(526,244) | $(388,955) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||
| Non-cash interest expense on liabilities related to revenue participation right purchase agreement | 48,917 | 29,474 | 31,858 | ||
| Stock-based compensation expense | 97,840 | 72,065 | 47,853 | ||
| Non-cash lease expense | 4,314 | 3,750 | 2,585 | ||
| Loss on disposition of property and equipment | 45 | — | — | ||
| Depreciation of property and equipment | 9,531 | 11,892 | 5,814 | ||
| Change in fair value of derivative liabilities | (1,300) | — | — | ||
| Change in fair value of liabilities related to RPI Transactions | 19,600 | — | — | ||
| Realized (loss) gain on investment, net | (19) | 35 | 107 | ||
| Interest receivable and amortization on investments | (32,515) | (15,735) | (4,710) | ||
| Non-cash interest expense related to debt | 11,559 | 7,341 | 5,697 | ||
| Loss on extinguishment of debt | — | — | 2,693 | ||
| Loss on inducement of convertible debt | — | — | 22,246 | ||
| Changes in operating assets and liabilities: | |||||
| Accounts receivable | (15,367) | (1,136) | 56,672 | ||
| Prepaid and other assets | (2,438) | 1,596 | (7,414) | ||
| Accounts payable | (4,483) | (3,483) | 4,524 | ||
| Deferred revenue | 52,370 | — | (87,000) | ||
| Accrued and other liabilities | 14,182 | 17,103 | 10,844 | ||
| Operating lease liabilities | (7,244) | (1,406) | 1,728 | ||
| Other non-current liabilities | (1,356) | (9,585) | (4,058) | ||
| Net cash used in operating activities | (395,890) | (414,333) | (299,516) | ||
| Cash flows from investing activities: | |||||
| Purchases of investments | (1,293,416) | (635,211) | (855,393) | ||
| Maturities of investments | 744,225 | 870,905 | 604,594 | ||
| Sales of investments | — | 4,975 | — | ||
| Purchases of property and equipment | (3,906) | (1,416) | (11,335) | ||
| Net cash (used in) provided by investing activities | (553,097) | 239,253 | (262,134) | ||
| Cash flows from financing activities: | |||||
| Repayment of finance lease liabilities | (939) | (858) | (944) | ||
| Repayment of term loans | (8,679) | — | (47,651) | ||
| Debt extinguishment costs | — | — | (2,409) | ||
| Repayment of convertible debt | — | — | (140,330) | ||
| Proceeds from issuance of convertible debt, net | — | — | 523,586 | ||
| Proceeds from RPI Transactions | 200,000 | 50,000 | 149,581 | ||
| Proceeds from issuance of common stock related to at-the-market offering, net of issuance costs | 93,640 | 164,233 | — | ||
| Proceeds from issuance of common stock related to public offering, net of issuance costs | 563,204 | — | — | ||
| Proceeds from issuance of common stock related to private placement, net of issuance costs | 50,000 | — | — | ||
| Proceeds from issuance of common stock under equity incentive and stock purchase plans | 53,016 | 18,459 | 17,543 | ||
| Taxes paid related to net share settlement of equity awards | (19,631) | (10,517) | (9,602) | ||
| Cash settlement of capped call options associated with 2026 Notes | — | — | 26,392 | ||
| Net cash provided by financing activities | 930,611 | 221,317 | 516,166 | ||
| Effect of exchange rate changes | 209 | (20) | — | ||
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (18,167) | 46,217 | (45,484) | ||
| Cash, cash equivalents, and restricted cash, beginning of period | 113,399 | 67,182 | 112,666 | ||
| Cash, cash equivalents, and restricted cash, end of period | $95,232 | $113,399 | $67,182 | ||
| Supplemental cash flow disclosures: | |||||
| Cash paid for interest | $25,970 | $10,295 | $15,165 | ||
| Non-cash investing and financing activities: | |||||
| Right-of-use assets recognized in exchange for operating lease obligations | $481 | $— | $10,904 | ||
| Right-of-use assets recognized in exchange for finance lease obligations | $— | $— | $1,055 | ||
| Amounts unpaid for purchases of property and equipment | $3,345 | $— | $621 | ||
| Issuance of common stock in connection with repurchase of convertible note | $— | $— | $317,123 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.