Foghorn Therapeutics Inc
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
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FY2023 · Filed Mar 7, 2024
FHTX$1.90-6.9%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
(In thousands)
| Year ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities: | ||
| Net loss | $(98,426) | $(108,882) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
| Stock-based compensation expense | 16,186 | 14,336 |
| Depreciation and amortization expense | 3,451 | 3,321 |
| Loss on disposal of property and equipment | 3 | 6 |
| Noncash lease expense | 5,210 | 4,580 |
| Accretion of discount on marketable securities | (2,651) | (1,295) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 741 | (307) |
| Collaboration receivable | — | 300,000 |
| Accounts payable | 846 | 1,614 |
| Accrued expenses and other liabilities | (1,797) | 1,441 |
| Operating lease liabilities | (7,514) | (6,975) |
| Deferred revenue | (34,155) | (14,227) |
| Net cash provided by (used in) operating activities | (118,106) | 193,612 |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (1,224) | (1,210) |
| Purchases of marketable securities | (73,901) | (409,345) |
| Proceeds from maturities of marketable securities | 219,575 | 166,233 |
| Net cash provided by (used in) investing activities | 144,450 | (244,322) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of common stock upon exercise of stock options and employee stock purchase plan | 1,778 | 1,763 |
| Net cash provided by financing activities | 1,778 | 1,763 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 28,122 | (48,947) |
| Cash, cash equivalents and restricted cash at beginning of period | 53,922 | 102,869 |
| Cash, cash equivalents and restricted cash at end of period | $82,044 | $53,922 |
| Supplemental cash flow information: | ||
| Cash paid for taxes | $3,551 | $— |
| Supplemental disclosure of noncash investing and financing information: | ||
| Purchases of property and equipment included in accounts payable and accrued expenses | $35 | $160 |
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents | $80,336 | $52,214 |
| Restricted cash (non-current) | 1,708 | 1,708 |
| Total cash, cash equivalents and restricted cash shown in the statement of cash flows | $82,044 | $53,922 |
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