Hepion Pharmaceuticals Inc
For the period ended Dec 31, 2023. Filed Apr 16, 2024.
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FY2023 · Filed Apr 16, 2024
HEPA$0.11-13.7%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
| Year EndedDecember 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities: | ||
| Net loss | $(48,926,042) | $(42,200,049) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | 1,340,311 | 2,552,736 |
| Depreciation and amortization | 67,131 | 77,461 |
| Change in fair value of derivative instrument-warrants | 1,317,646 | — |
| Change in fair value of contingent consideration | (440,000) | (414,992) |
| Change in deferred tax liability | (409,022) | — |
| Impairment of in-process research and development and goodwill | 3,190,000 | 1,870,924 |
| Changes in operating assets and liabilities: | ||
| Accounts payable and accrued expenses | 302,919 | 2,245,715 |
| Right of use asset | 89,825 | 253,104 |
| Operating lease liability | (96,712) | (263,378) |
| Prepaid expenses and other assets | 2,675,066 | 917,308 |
| Net cash used in operating activities | (40,888,878) | (34,961,171) |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | (14,304) | (16,336) |
| Proceeds from disposal of property and equipment | — | 2,266 |
| Net cash used in investing activities | (14,304) | (14,070) |
| Cash flows from financing activities: | ||
| Proceeds from the issuance of common stock and warrants, net of issuance costs | 4,494,950 | — |
| Proceeds from the issuance of Series F and Series G Redeemable Preferred Stock, net of issuance costs | — | 17,862,500 |
| Redemption of Series F and Series G Convertible Redeemable Preferred Stock | — | (21,000,000) |
| Contingent consideration milestone payment | — | (2,000,000) |
| Net cash (used in) provided by financing activities | 4,494,950 | (5,137,500) |
| Effect of exchange rates on cash | 5,024 | (47,138) |
| Net decrease in cash | (36,403,208) | (40,159,879) |
| Cash at beginning of period | 51,189,088 | 91,348,967 |
| Cash at end of period | $14,785,880 | $51,189,088 |
| Supplementary disclosure of cash flow information: | ||
| Cash paid for interest | $— | $941 |
| Supplementary disclosure of non-cash financing activities: | ||
| Conversion of Series C convertible preferred stock (part of Series C deemed dividend) | $1,000 | $5,000 |
| Issuance of common stock in conjunction with milestone payment | — | 5,008 |
| Stock-based liability awards reversed to additional paid-in capital | 2,983,006 | — |
| Operating lease asset additions | 252,118 | — |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.