Viridian Therapeutics IncDE
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
VRDN$30.86+2.2%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 STATEMENTS OF CASH FLOWS
(in thousands)
| Year EndedDecember 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net loss | $(237,734) | $(129,874) | $(79,413) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Issuance of common stock under license agreement | 5,693 | — | 7,500 |
| Share-based compensation expense | 67,172 | 19,765 | 14,465 |
| Non-cash interest expense and amortization of debt issuance costs | 317 | 228 | 87 |
| Depreciation and amortization | 522 | 255 | 120 |
| Accretion and amortization of premiums and discounts on available-for-sale securities | (11,490) | (210) | 965 |
| Realized gain on investments | — | — | (4) |
| Net loss on extinguishment of debt | 181 | — | — |
| Fees paid directly to creditor related to extinguishment of debt | 514 | — | — |
| Loss on sale of equipment | 1 | — | 77 |
| Non-cash lease expenses | 48 | 36 | (102) |
| Other non cash items | 31 | — | — |
| Changes in operating assets and liabilities: | |||
| Prepaid expenses and other assets | (2,107) | (3,339) | (1,496) |
| Accounts payable | (12,040) | 11,524 | 1,655 |
| Accrued and other liabilities | 5,010 | 7,716 | 1,380 |
| Unbilled revenue | — | 349 | (451) |
| Deferred revenue | (288) | (288) | 636 |
| Net cash used in operating activities | (184,170) | (93,838) | (54,581) |
| Cash flows from investing activities: | |||
| Purchases of short-term investments | (407,880) | (223,264) | (188,431) |
| Proceeds from sales and maturities of short-term investments | 314,526 | 108,935 | 114,398 |
| Proceeds from sale of property and equipment | — | — | 79 |
| Purchases of property and equipment | (898) | (797) | (338) |
| Net cash used in investing activities | (94,252) | (115,126) | (74,292) |
| Cash flows from financing activities: | |||
| Proceeds from the issuance of common stock, pursuant to 2023 Private Placement and September 2022 ATM Agreement | 125,069 | — | — |
| Proceeds from the issuance of Series B preferred stock, pursuant to the 2023 Private Placement | 76,192 | — | — |
| Proceeds from the issuance of common stock, pursuant to 2022 Public Offering and September 2022 ATM Agreement | — | 291,874 | — |
| Proceeds from the issuance of common stock, pursuant to 2021 Public Offering and April 2021 ATM Agreement | — | — | 114,242 |
| Payments of issuance costs associated with the sale of common stock | (7,213) | (19,072) | (6,987) |
| Proceeds from the issuance of Series B preferred stock | — | 44,000 | 16,960 |
| Payment of issuance costs associated with the sale of preferred stock | (4,588) | (2,992) | (1,291) |
| Proceeds from the exercise of warrants | 1,881 | 935 | 1,285 |
| Proceeds from issuance of long-term debt | 15,000 | 5,000 | — |
| Payment of debt extinguishment costs | (514) | — | — |
| Payment of debt issuance costs | — | (446) | — |
| Proceeds from issuance of common stock upon the exercise of stock options | 19,263 | 2,762 | 1,027 |
| Proceeds from the issuance of common stock for cash under employee stock purchase plan | 580 | 183 | 39 |
| Net cash provided by financing activities | 225,670 | 322,244 | 125,275 |
| Net increase (decrease) in cash and cash equivalents | (52,752) | 113,280 | (3,598) |
|---|---|---|---|
| Cash and cash equivalents at beginning of period | 155,579 | 42,299 | 45,897 |
| Cash and cash equivalents at end of period | $102,827 | $155,579 | $42,299 |
| Supplemental disclosure of cash flow information | |||
| Interest paid | $886 | $293 | $— |
| Supplemental disclosure of non-cash investing and financing activities | |||
| Purchase of property and equipment in accounts payable and accrued liabilities | $— | $380 | $4 |
| Unpaid common and preferred stock issuance costs included in accrued liabilities | $41 | $— | $— |
| Unpaid common and preferred stock issuance costs included in accounts payable | $45 | $— | $— |
| Extinguishment of long-term debt | $4,707 | $— | $— |
| Issuance of long-term debt | $5,000 | $— | $— |
| Amortization of public offering costs | $— | $75 | $87 |
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