C4 Therapeutics Inc
For the period ended Mar 31, 2024. Filed May 8, 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 8, 2024
CCCC$3.00-4.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows used in operating activities: | ||
| Net loss | $(28,361) | $(34,780) |
| Adjustments to reconcile net loss to cash used in operating activities: | ||
| Stock-based compensation expense | 6,215 | 6,251 |
| Depreciation and amortization expense | 448 | 545 |
| Reduction in carrying amount of right-of-use asset | 1,579 | 1,517 |
| Net (accretion) amortization of (discounts) premiums on marketable securities | (1,265) | (646) |
| Amortization of debt discount − related party | — | 176 |
| Other | (91) | 32 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (1,799) | 945 |
| Prepaid expenses and other current and long-term assets | (4,670) | 498 |
| Accounts payable | 182 | (138) |
| Accrued expenses and other current liabilities | (7,663) | (3,670) |
| Operating lease liability | (1,256) | (1,124) |
| Deferred revenue | 18,563 | (2,731) |
| Net cash used in operating activities | (18,118) | (33,125) |
| Cash flows (used in) provided by investing activities: | ||
| Proceeds from maturities of marketable securities | 54,352 | 65,557 |
| Purchases of marketable securities | (107,748) | (11,437) |
| Purchases of property and equipment, net | — | (589) |
| Net cash (used in) provided by investing activities | (53,396) | 53,531 |
| Cash flows provided by (used in) financing activities: | ||
| Proceeds from issuance of common stock pursuant to the Betta Pharma Stock Purchase Agreement | 20,000 | — |
| Proceeds from issuance of common stock pursuant to the at-the-market equity program, net | 14,089 | — |
| Proceeds from exercise of stock options | 519 | 56 |
| Payments for repurchase of common stock for tax withholding | (109) | (94) |
| Payment of long-term debt − related party | — | (750) |
| Other | 84 | 104 |
| Net cash provided by (used in) financing activities | 34,583 | (684) |
| Net change in cash, cash equivalents and restricted cash | (36,931) | 19,722 |
| Cash, cash equivalents and restricted cash at beginning of period | 130,033 | 33,033 |
| Cash, cash equivalents and restricted cash at end of period | $93,102 | $52,755 |
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash, cash equivalents and restricted cash at end of period | $93,102 | $52,755 |
| Less: restricted cash | (3,443) | (3,279) |
| Cash and cash equivalents at end of the period | $89,659 | $49,476 |
Condensed Consolidated Statements of Cash Flows - Continued
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for leases | $2,184 | $2,120 |
| Cash paid for interest − related party | $— | $430 |
| Supplemental disclosures of non-cash investing and financing activities: | ||
| Capital expenditures in accounts payable and accrued expenses | $— | $196 |
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