KYNTRA BIO, INC.
For the period ended Dec 31, 2025. Filed Mar 16, 2026.
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FY2025 · Filed Mar 16, 2026
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, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities | ||
| Net income (loss) | $183,452 | $(47,579) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation | 713 | 2,654 |
| Amortization of finance lease right-of-use assets | 35 | 38 |
| Net accretion of premium and discount on investments | (72) | (1,680) |
| Investment income in unconsolidated variable interest entity | (2,485) | (3,969) |
| Gain on divestiture | (52,553) | — |
| Loss on debt extinguishments | 6,583 | — |
| Impairment of property and equipment | 2,062 | — |
| Loss on disposal of property and equipment | — | 2,551 |
| Stock-based compensation | 6,576 | 25,215 |
| Dividend received from unconsolidated variable interest entity | 3,947 | 2,230 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | (2,543) | (6,737) |
| Inventories | 5,362 | 22,284 |
| Prepaid expenses and other current assets | 54,102 | (15,550) |
| Operating lease right-of-use assets | 808 | 66,306 |
| Other assets | (902) | 1,010 |
| Accounts payable | (27,654) | 14,512 |
| Accrued and other liabilities | (53,497) | (93,790) |
| Operating lease liabilities, current | (568) | (12,774) |
| Deferred revenues | (136,429) | (28,297) |
| Accrued interest expense related to sale of future revenues | 7,990 | 2,257 |
| Accrued interest for finance lease liabilities | 6 | 14 |
| Operating lease liabilities, non-current | (202) | (66,154) |
| Other long-term liabilities | 495 | (540) |
| Net cash used in operating activities | (4,774) | (137,999) |
| Investing activities | ||
| Purchases of property and equipment | (38) | (266) |
| Proceeds from divestiture, net of cash transferred | 96,615 | — |
| Proceeds from sale of property and equipment | — | 1,046 |
| Purchases of available-for-sale securities | (61,158) | (8,628) |
| Proceeds from maturities of investments | — | 133,841 |
| Net cash provided by investing activities | 35,419 | 125,993 |
| Financing activities | ||
| Repayments of senior secured term loan facilities | (75,000) | — |
| Payment of senior secured term loan facilities pay-off premium and fees | (5,550) | — |
| Repayments of finance lease liabilities | (10) | (40) |
| Cash paid for payroll taxes on restricted stock unit releases | (69) | (354) |
| Cash paid to non-controlling interest | (5,353) | — |
| Payment of issuance cost under ATM Program | (46) | — |
| Proceeds from issuance of common stock under employee stock plans | — | 139 |
| Net cash used in financing activities | (86,028) | (255) |
| Effect of exchange rate change on cash and cash equivalents | 1,077 | 751 |
| Net decrease in cash and cash equivalents | (54,306) | (11,510) |
| Total cash and cash equivalents at beginning of period | 102,178 | 113,688 |
| Total cash and cash equivalents at end of period | $47,872 | $102,178 |
| Supplemental cash flow information: | ||
| Holdback consideration receivable related to divestiture in prepaid expenses and other current assets | $4,000 | $— |
| Interest payments | $7,830 | $16,207 |
| Reconciliation of cash and cash equivalents to the consolidated balance sheets: | December 31, 2025 | December 31, 2024 |
| Cash and cash equivalents of continuing operations | $47,872 | $50,482 |
| Cash and cash equivalents included in assets held for sale | — | 51,696 |
| Total cash and cash equivalents in the consolidated statements of cash flows | $47,872 | $102,178 |
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