Kodiak Sciences Inc.
For the period ended Dec 31, 2024. Filed Mar 27, 2025.
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FY2024 · Filed Mar 27, 2025
KOD$108.06+0.9%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 Statem ents of Cash Flows
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities | |||
| Net loss | $(176,207) | $(260,491) | $(333,823) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation | 18,710 | 18,298 | 3,796 |
| Stock-based compensation | 60,213 | 88,556 | 106,033 |
| Loss on disposal of long-lived assets | — | 2 | — |
| Net amortization (accretion) of premium (discount) on marketable securities | — | (846) | (1,068) |
| Settlement of derivative contracts | 355 | — | (616) |
| Amortization of operating lease right-of-use asset | 7,996 | 7,649 | 7,205 |
| Amortization of issuance costs | — | 4 | 53 |
| Changes in assets and liabilities: | |||
| Prepaid expenses and other current assets | (60) | 8,451 | (2,744) |
| Other assets | (12) | 426 | 7,384 |
| Accounts payable | (9,693) | 5,597 | 1,660 |
| Accrued and other current liabilities | (7,371) | (12,907) | (2,246) |
| Operating lease liability | (11,250) | (8,922) | 7,907 |
| Net cash provided by (used in) operating activities | (117,319) | (154,183) | (206,459) |
| Cash flows from investing activities | |||
| Purchase of property and equipment | (375) | (41,350) | (37,021) |
| Deposits on property and equipment | (25) | (77) | (10,342) |
| Purchase of marketable securities | — | (49,347) | (427,766) |
| Maturities of marketable securities | — | 340,000 | 138,000 |
| Settlement of derivative contracts | (355) | — | 616 |
| Net cash provided by (used in) investing activities | (755) | 249,226 | (336,513) |
| Cash flows from financing activities | |||
| Proceeds from issuance of common stock upon options exercise | 394 | 60 | 1,770 |
| Proceeds from issuance of common stock pursuant to employee stock purchase plan | 107 | 182 | 174 |
| Principal payments of tenant improvement allowance payable | — | (211) | (49) |
| Net cash provided by (used in) financing activities | 501 | 31 | 1,895 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (117,573) | 95,074 | (541,077) |
| Cash, cash equivalents and restricted cash, at beginning of period | 291,831 | 196,757 | 737,834 |
| Cash, cash equivalents and restricted cash, at end of period | $174,258 | $291,831 | $196,757 |
| Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets | |||
| Cash and cash equivalents | $168,074 | $285,507 | $190,433 |
| Restricted cash | 6,184 | 6,324 | 6,324 |
| Total cash, cash equivalents and restricted cash in consolidated balance sheets | $174,258 | $291,831 | $196,757 |
| Supplemental cash flow information: | |||
| Cash paid for interest | $— | $13 | $18 |
| Supplemental disclosures of non-cash investing and financing information: | |||
| Operating lease right-of-use asset obtained in exchange for operating lease liability | $(49) | $2,668 | $(170) |
| Purchase of property and equipment under accounts payable and accruals | $50 | $— | $2,917 |
| Reclassification of deposits to property and equipment | $25 | $44,300 | $5,363 |
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