X4 Pharmaceuticals Inc
For the period ended Dec 31, 2023. Filed Mar 21, 2024.
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FY2023 · Filed Mar 21, 2024
XFOR$3.33+4.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows F-
Table of Contents
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year EndedDecember 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net loss | $(101,167) | $(93,867) | $(88,696) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Stock-based compensation expense | 8,687 | 5,199 | 6,180 |
| Depreciation and amortization expense | 419 | 513 | 499 |
| Goodwill impairment | — | — | 9,758 |
| Non-cash lease expense | 1,577 | 1,481 | 1,393 |
| Accretion of debt discount | 929 | 918 | 756 |
| Change in fair value of warrant and derivative liability | (7,074) | 2,881 | 366 |
| Other | (227) | 37 | 337 |
| Changes in operating assets and liabilities: | |||
| Prepaid expenses, other current assets and research and development incentive receivable | (1,370) | (610) | (1,755) |
| Accounts payable | 1,234 | 3,425 | 1,166 |
| Accrued expenses and other long-term liabilities | 1,608 | 3,803 | (152) |
| Operating lease liabilities | (1,128) | (882) | (698) |
| Operating lease right-of-use asset, net of non-cash portion | — | — | (59) |
| Net cash used in operating activities | (96,512) | (77,102) | (70,905) |
| Cash flows from investing activities: | |||
| Purchase of property, equipment and intangible assets | (60) | (103) | (615) |
| Purchase of marketable securities | (16,823) | — | — |
| Sales and maturities of marketable securities | 2,000 | — | — |
| Net cash used in investing activities | (14,883) | (103) | (615) |
| Cash flows from financing activities: | |||
| Proceeds from exercise of stock options, warrants and pre-funded warrants and issuance of shares of common stock under employee stock purchase plans | 8,712 | 208 | 260 |
| Issuance costs for amendments to loan and security agreement and for the sale of warrants accounted for as a liability (Note 10) | (631) | (4,802) | — |
| Employee taxes paid related to net share settlement of vested restricted stock units | — | (12) | — |
| Proceeds from borrowings under loan and security agreements | 22,500 | — | — |
| Repayments of borrowings under loan and security agreement | (2,064) | (795) | — |
| Proceeds from sale of shares of common stock, redeemable common stock, warrants and pre-funded warrants, net of issuance costs | 59,999 | 122,631 | 75,985 |
| Settlement and retirement of redeemable common stock | — | — | (2,000) |
| Net cash provided by financing activities | 88,516 | 117,230 | 74,245 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 99 | (105) | (319) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (22,780) | 39,920 | 2,406 |
| Cash, cash equivalents and restricted cash at beginning of period | 123,028 | 83,108 | 80,702 |
| Cash, cash equivalents and restricted cash at end of period | $100,248 | $123,028 | $83,108 |
| Supplemental disclosure of cash flow information | |||
| Cash paid for interest | $4,604 | $3,006 | $2,906 |
| Supplemental disclosure of non-cash investing and financing activities: | |||
| Acquisition of right-of-use assets financed by lease liabilities | $— | $— | $1,343 |
| Issuance costs not yet paid | $— | $661 | $24 |
The accompanying notes are an integral part of these consolidated financial statements.
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