Vistagen Therapeutics Inc
For the period ended Mar 31, 2024. Filed Jun 11, 2024.
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FY2024 · Filed Jun 11, 2024
VTGN$0.18-0.7%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
(in thousands)
| Year Ended March 31, | |||
|---|---|---|---|
| 2024 · 2023 | |||
| Cash flows from operating activities: | |||
| Net loss | $(29,362) | $(59,248) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 127 | 130 | |
| Loss on disposal of fixed assets | 6 | — | |
| Stock-based compensation | 2,182 | 3,336 | |
| Expense related to acquisition of Pherin Pharmaceuticals, Inc. recorded as an asset acquisition | — | 3,559 | |
| Warrant modification expense | — | 78 | |
| Amortization of operating lease right-of-use asset | 441 | 402 | |
| Changes in operating assets and liabilities: | |||
| Prepaid expenses and other current assets | 250 | 3,188 | |
| Operating lease liability | (495) | (433) | |
| Deferred sublicense revenue, net of deferred contract acquisition costs | 516 | 206 | |
| Accounts payable and accrued expenses | 522 | (934) | |
| Net cash used in operating activities | (25,813) | (49,716) | |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (61) | (212) | |
| Cash used in acquisition of Pherin Pharmaceuticals, Inc. as an asset acquisition | — | (528) | |
| Net cash used in investing activities | (61) | (740) | |
| Cash flows from financing activities: | |||
| Net proceeds from issuance of common stock, including option exercises | — | 104 | |
| Proceeds from issuance of common stock and warrants, net of issuance costs | 93,453 | — | |
| Net proceeds (expenses) from sale of common stock under Open Market Sale Agreement, net of deferred offering costs | 35,926 | (174) | |
| Net proceeds from sale of common stock under Employee Stock Purchase Plan | 8 | 63 | |
| Repayment of note payable | (985) | (1,034) | |
| Net cash (used in) provided by financing activities | 128,402 | (1,041) | |
| Net increase (decrease) in cash and cash equivalents | 102,528 | (51,497) | |
| Cash and cash equivalents at beginning of year | 16,638 | 68,135 | |
| Cash and cash equivalents at end of year | $119,166 | $16,638 | |
| Supplemental disclosure of noncash activities: | |||
| Non-cash investing and financing activities: | |||
| Insurance premiums settled by issuing note payable | $879 | $1,140 | |
| Purchases of equipment included in accounts payable | $29 | $ | - |
| Fair value of common stock issued for acquisition of Pherin Pharmaceuticals, Inc. | $— | $3,077 | |
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