GYRE THERAPEUTICS, INC.
For the period ended Dec 31, 2024. Filed Mar 17, 2025.
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FY2024 · Filed Mar 17, 2025
GYRE$4.23-9.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statem ents of Cash Flows
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating Activities | ||
| Net income (loss) from operations | $17,898 | $(85,480) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Acquired in-process research and development | — | 83,104 |
| Stock-based compensation | 831 | 7,281 |
| Depreciation and amortization | 1,549 | 1,074 |
| Noncash lease expense | 672 | 355 |
| Amortization of land use rights | 39 | 40 |
| Deferred income taxes, net | (1,002) | (1,160) |
| Bad debt expense and other non-cash items | 170 | (61) |
| Accrued interest on bank deposit | (1,046) | (633) |
| Change in fair value of receivables from GCBP | (239) | (39) |
| Change in fair value of derivative liabilities | 239 | 39 |
| Change in fair value of warrant liability | (7,167) | 9,261 |
| Equity loss of unconsolidated affiliates | 37 | 1,314 |
| Divestiture losses | — | 2,711 |
| Loss on disposal of property and equipment | 66 | 628 |
| Changes in operating assets and liabilities: | ||
| Notes receivable | (4,028) | 1,113 |
| Accounts receivable | (5,257) | 285 |
| Other receivables from GNI | — | (96) |
| Inventories | (2,139) | 1,747 |
| Prepaid and other assets | 520 | (82) |
| Income tax payable | (2,166) | 3,003 |
| Accounts payable | (245) | 192 |
| Other noncurrent liabilities | 23 | (102) |
| Due to related parties | (83) | 425 |
| Accrued expenses and other liabilities | (1,497) | 1,446 |
| Operating lease liabilities | (816) | (473) |
| Net cash (used) provided by operating activities | (3,641) | 25,892 |
| Investing Activities | ||
| Acquisition of intangible assets | (813) | (69) |
| Purchase of certificates of deposit | (15,471) | (15,735) |
| Purchase of property and equipment | (2,315) | (8,517) |
| Proceeds from sale of equipment | 401 | 664 |
| Purchase of equity method investment | (1,686) | (1,000) |
| Cash and cash equivalents acquired in connection with the GNI USA Contributions | — | 5,587 |
| Payments made for acquisition costs | — | (124) |
| Cash balance in a disposed subsidiary | — | (566) |
| Net cash used in investing activities | (19,884) | (19,760) |
| Financing Activities | ||
| Deferred offering costs | (536) | — |
| Proceeds from the issuance of common stock in ATM program | 773 | — |
| Proceeds from the exercise of stock options | 1,865 | — |
| Proceeds from issuance of Convertible Preferred Stock and Preferred Stock Warrants under the Private Placement | — | 2,500 |
| Net cash provided by financing activities | 2,102 | 2,500 |
| Effect of exchange rate changes on cash and cash equivalents | (273) | (298) |
| Net (decrease) increase in cash and cash equivalents | (21,696) | 8,334 |
| Cash and cash equivalents at beginning of the period | 33,509 | 25,175 |
| Cash and cash equivalents at end of period | $11,813 | $33,509 |
| Supplemental Disclosure of Non-Cash Financing and Investing Activities: | ||
| Deemed issuance of common stock and Convertible Preferred Stock to former stockholders of Catalyst upon the GNI USA Contributions | $— | $84,348 |
| Advance payment for Convertible Preferred Stock and Preferred Stock Warrants acquired upon the GNI USA Contributions | $— | $2,500 |
| Disposal consideration in other receivables from GNI | $— | $768 |
| Acquisition costs in due to related parties | $— | $535 |
| Right-of-use asset obtained in exchange for operating lease liabilities | $2,017 | $277 |
| Proceeds from the exercise of stock options included in other receivable | $— | $166 |
| Convertible preferred stock conversion | $64,525 | $— |
| Supplemental Disclosure of Cash Flow Information: | ||
| Cash paid for income taxes | $8,518 | $6,346 |
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