KYNTRA BIO, INC.
For the period ended Dec 31, 2024. Filed Mar 17, 2025.
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FY2024 · Filed Mar 17, 2025
KYNB$3.57-8.5%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 | |
| Operating activities | ||
| Net loss | $(47,579) | $(284,232) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 2,654 | 9,518 |
| Amortization of finance lease right-of-use assets | 38 | 412 |
| Net accretion of premium and discount on investments | (1,680) | (5,061) |
| Investment income in unconsolidated variable interest entity | (3,969) | (2,638) |
| Loss on disposal of property and equipment | 2,551 | 4 |
| Stock-based compensation | 25,215 | 50,767 |
| Acquired in-process research and development expenses | — | 24,636 |
| Non-cash interest expense related to sale of future revenues | — | 7,734 |
| Dividend received from unconsolidated variable interest entity | 2,230 | 2,255 |
| Impairment of investment | — | 1,000 |
| Realized loss on sales of available-for-sale securities | — | 271 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | (6,737) | 3,433 |
| Inventories | 22,284 | (1,695) |
| Prepaid expenses and other current assets | (15,550) | (28,165) |
| Operating lease right-of-use assets | 66,306 | 11,704 |
| Other assets | 1,010 | 256 |
| Accounts payable | 14,512 | (15,514) |
| Accrued and other liabilities | (93,790) | (49,778) |
| Operating lease liabilities, current | (12,774) | 3,820 |
| Deferred revenues | (28,297) | (28,166) |
| Accrued interest expense related to sale of future revenues | 2,257 | — |
| Accrued interest for finance lease liabilities | 14 | (11) |
| Operating lease liabilities, non-current | (66,154) | (12,998) |
| Other long-term liabilities | (540) | (2,573) |
| Net cash used in operating activities | (137,999) | (315,021) |
| Investing activities | ||
| Purchases of property and equipment | (266) | (2,519) |
| Proceeds from sale of property and equipment | 1,046 | — |
| Purchases of available-for-sale securities | (8,628) | (251,830) |
| Cash acquired from consolidation of Fortis | — | 656 |
| Proceeds from sales of available-for-sale securities | — | 6,729 |
| Proceeds from maturities of investments | 133,841 | 400,621 |
| Net cash provided by investing activities | 125,993 | 153,657 |
| Financing activities | ||
| Proceeds from senior secured term loan facilities, net of issuance costs | — | 74,078 |
| Cash paid for transaction costs for senior secured term loan facilities | — | (2,746) |
| Repayments of finance lease liabilities | (40) | (148) |
| Repayments of lease obligations | — | (336) |
| Cash paid for payroll taxes on restricted stock unit releases | (354) | (237) |
| Proceeds from issuance of common stock under ATM Program, net of commissions | — | 48,407 |
| Proceeds from issuance of common stock under employee stock plans | 139 | 3,731 |
| Net cash (used in) provided by financing activities | (255) | 122,749 |
| Effect of exchange rate change on cash and cash equivalents | 751 | (3,397) |
| Net increase (decrease) in cash and cash equivalents | (11,510) | (42,012) |
| Total cash and cash equivalents at beginning of period | 113,688 | 155,700 |
| Total cash and cash equivalents at end of period | $102,178 | $113,688 |
| Supplemental cash flow information: | ||
| Non cash acquisition in Fortis | $— | $(22,000) |
| Interest payments | 16,207 | 6,383 |
| Balance in accounts payable and accrued liabilities related to purchases of property and equipment | $— | $103 |
| Reconciliation of cash and cash equivalents to the consolidated balance sheets: | December 31, 2024 | December 31, 2023 |
| Cash and cash equivalents of continuing operations | $50,482 | $81,553 |
| Cash and cash equivalents included in assets held for sale | 51,696 | 32,135 |
| Total cash and cash equivalents in the consolidated statements of cash flows | $102,178 | $113,688 |
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