ARDELYX INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
ARDX$2.93+1.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Statements of Cash Flows (unaudited)
CONDENSED STATEMENTS OF CASH FLOWS
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities | ||
| Net loss | $(26,518) | $(26,773) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization expense | 435 | (3) |
| Non-cash lease expense | 948 | 902 |
| Stock-based compensation | 7,616 | 2,912 |
| Non-cash interest expense | 1,753 | 1,044 |
| Other, net | (1,265) | 499 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (6,131) | (4,387) |
| Inventory | (29,371) | (16,601) |
| Prepaid commercial manufacturing | 13,406 | (268) |
| Prepaid expenses and other assets | (5,450) | (774) |
| Accounts payable | 6,139 | (346) |
| Accrued compensation and benefits | (5,870) | (2,474) |
| Operating lease liabilities | (1,068) | (937) |
| Accrued and other liabilities | 6,791 | (1,396) |
| Deferred revenue | 2,863 | 3,807 |
| Net cash used in operating activities | (35,722) | (44,795) |
| Investing activities | ||
| Proceeds from maturities and redemptions of investments | 31,602 | 11,000 |
| Purchases of investments | (34,024) | (20,763) |
| Purchases of property and equipment | (150) | (14) |
| Net cash used in investing activities | (2,572) | (9,777) |
| Financing activities | ||
| Proceeds from 2022 Loan, net of issuance costs | 49,750 | — |
| Proceeds from issuance of common stock in at the market offering, net of issuance costs | — | 50,719 |
| Proceeds from issuance of common stock under equity incentive and stock purchase plans | 3,221 | 200 |
| Net cash provided by financing activities | 52,971 | 50,919 |
| Net increase (decrease) in cash and cash equivalents | 14,677 | (3,653) |
| Cash and cash equivalents at beginning of period | 21,470 | 96,140 |
| Cash and cash equivalents at end of period | $36,147 | $92,487 |
| Supplementary disclosure of cash flow information: | ||
| Cash paid for interest | $2,095 | $860 |
| Cash paid for income taxes | $1 | $— |
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