Viridian Therapeutics IncDE
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
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 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net loss | $(269,949) | $(237,734) | $(129,874) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Issuance of common stock under license agreement | — | 5,693 | — |
| Share-based compensation expense | 42,150 | 67,172 | 19,765 |
| Non-cash interest expense and amortization of debt issuance costs | 377 | 317 | 228 |
| Depreciation and amortization | 540 | 522 | 255 |
| Accretion and amortization of premiums and discounts on available-for-sale securities | (15,655) | (11,490) | (210) |
| Net loss on extinguishment of debt | — | 181 | — |
| Fees paid directly to creditor related to extinguishment of debt | — | 514 | — |
| Loss on sale of equipment | 449 | 1 | — |
| Non-cash lease expenses | 171 | 48 | 36 |
| Other non cash items | — | 31 | — |
| Changes in operating assets and liabilities: | |||
| Prepaid expenses and other assets | (11,768) | (2,107) | (3,339) |
| Accounts payable | (73) | (12,040) | 11,524 |
| Accrued and other liabilities | 21,625 | 5,010 | 7,716 |
| Unbilled revenue | 102 | — | 349 |
| Deferred revenue | (288) | (288) | (288) |
| Net cash used in operating activities | (232,319) | (184,170) | (93,838) |
| Cash flows from investing activities: | |||
| Purchases of short-term investments | (695,068) | (407,880) | (223,264) |
| Proceeds from sales and maturities of short-term investments | 466,928 | 314,526 | 108,935 |
| Purchases of property and equipment | (511) | (898) | (797) |
| Net cash used in investing activities | (228,651) | (94,252) | (115,126) |
| 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 convertible preferred stock, pursuant to the 2023 Private Placement | — | 76,192 | — |
| Proceeds from the issuance of common stock, pursuant to Public Offerings and September 2022 ATM Agreement | 453,660 | — | 291,874 |
| Payments of issuance costs associated with the sale of common stock | (25,442) | (7,213) | (19,072) |
| Proceeds from the issuance of Series B convertible preferred stock, pursuant to Public Offerings | 25,001 | — | 44,000 |
| Payment of issuance costs associated with the sale of convertible preferred stock | (1,500) | (4,588) | (2,992) |
| Proceeds from the exercise of warrants | — | 1,881 | 935 |
| 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 | 5,344 | 19,263 | 2,762 |
| Proceeds from the issuance of common stock for cash under employee stock purchase plan | 674 | 580 | 183 |
| Net cash provided by financing activities | 457,737 | 225,670 | 322,244 |
| Net increase (decrease) in cash and cash equivalents | (3,233) | (52,752) | 113,280 |
| Cash and cash equivalents at beginning of period | 102,827 | 155,579 | 42,299 |
| Cash and cash equivalents at end of period | $99,594 | $102,827 | $155,579 |
| Supplemental disclosure of cash flow information | |||
|---|---|---|---|
| Interest paid | $1,820 | $886 | $293 |
| Supplemental disclosure of non-cash investing and financing activities | |||
| Purchase of property and equipment in accounts payable and accrued liabilities | $43 | $— | $380 |
| Unpaid common and convertible preferred stock issuance costs included in accrued liabilities | $58 | $41 | $— |
| Unpaid common and convertible preferred stock issuance costs included in accounts payable | $— | $45 | $— |
| Right-of-use asset and lease liability recognized for new operating lease | $496 | $— | $— |
| Remeasurement of operating lease right-of-use assets for lease modifications | $837 | $641 | $448 |
| Extinguishment of long-term debt | $— | $4,707 | $— |
| Issuance of long-term debt | $— | $5,000 | $— |
| Amortization of public offering costs | $— | $— | $75 |
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