Akebia Therapeutics Inc
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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FY2023 · Filed Mar 14, 2024
AKBA$0.54+1.7%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENT OF CASH FLOWS
| Years Ended December 31, | ||
|---|---|---|
| (dollars in thousands) | 2023 | 2022 |
| Operating Activities: | ||
| Net loss | $(51,925) | $(94,226) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation expense | 1,585 | 1,654 |
| Amortization of intangible asset | 36,042 | 36,043 |
| Interest expense related to sale of future royalties (non-cash) | — | 6,182 |
| Accretion of interest expense and amortization of refund liability | (2,228) | 2,121 |
| Royalty revenue from MTPC (non-cash) | (1,977) | (1,777) |
| Collaboration revenue in connection with the termination of the Otsuka Agreement (non-cash) | — | (9,550) |
| R&D expense in connection with the termination of the Otsuka Agreement (non-cash) | 782 | 8,768 |
| Amortization of right-of-use assets | 4,219 | (2,417) |
| Write-off on termination of Boston Lease (non-cash) | (825) | — |
| Loss on extinguishment of debt | — | 406 |
| Provision of inventories | 1,580 | 30,242 |
| Change in firm purchase commitments | 1,533 | (65,946) |
| Stock-based compensation expense | 9,317 | 17,849 |
| Change in fair value of embedded debt derivative | (760) | (1,060) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 994 | 11,297 |
| Inventories | (2,542) | 19,087 |
| Prepaid expenses and other current assets | 11,839 | 1,058 |
| Other long-term assets | (1,361) | (5,623) |
| Accounts payable | (5,244) | 1,501 |
| Accrued expense and other current liabilities | (10,021) | (38,005) |
| Lease liabilities | (4,963) | 2,311 |
| Deferred revenue | (3,738) | 4,654 |
| Other long-term liabilities | (5,691) | 2,277 |
| Net cash used in operating activities | (23,384) | (73,154) |
| Investing Activities: | ||
| Purchase of property and equipment | — | (114) |
| Net cash provided by (used in) investing activities | — | (114) |
| Financing Activities: | ||
| Proceeds from refund liability to customer | — | 40,000 |
| Proceeds from the issuance of common stock, net of issuance costs | 6,708 | 7,121 |
| Proceeds from the sale of stock under employee stock purchase plan | 85 | 410 |
| Proceeds from the exercise of common stock options | 1 | 67 |
| Principal payments on debt | (32,000) | (33,000) |
| Net cash (used in) provided by financing activities | (25,206) | 14,598 |
| Decrease in cash, cash equivalents and restricted cash | (48,590) | (58,670) |
| Cash, cash equivalents and restricted cash at beginning of the period | 93,169 | 151,839 |
| Cash, cash equivalents and restricted cash at end of the period | $44,579 | $93,169 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $6,059 | $6,755 |
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