ARDELYX INC
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 20, 2025
ARDX$2.93+1.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Statements of Cash Flows
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating activities | |||
| Net loss | $(39,136) | $(66,067) | $(67,207) |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Depreciation and amortization expense | 2,063 | 1,292 | 1,144 |
| Non-cash lease expense | 4,008 | 3,624 | 3,457 |
| Stock-based compensation | 37,381 | 13,530 | 10,750 |
| Non-cash interest expense | 7,400 | 4,220 | 1,962 |
| Non-cash royalty revenue related to the sale of future royalties | (2,692) | — | — |
| Gain on sale of equipment | — | — | (1,260) |
| Other, net | (4,664) | (2,930) | 685 |
| Changes in operating assets and liabilities | |||
| Accounts receivable | (35,674) | (14,298) | (7,231) |
| Inventory | (41,697) | (21,141) | (28,346) |
| Prepaid commercial manufacturing | 6,782 | (9,593) | (4,161) |
| Prepaid expenses and other assets | (4,543) | (6,035) | 2,299 |
| Accounts payable | 4,862 | 279 | 6,582 |
| Accrued compensation and benefits | 2,343 | 5,049 | 2,126 |
| Operating lease liabilities | (4,588) | (3,928) | (3,491) |
| Accrued and other liabilities | 21,254 | 3,691 | 4,138 |
| Deferred revenue | 2,092 | 2,590 | 8,509 |
| Net cash used in operating activities | (44,809) | (89,717) | (70,044) |
| Investing activities | |||
| Proceeds from maturities and redemptions of investments | 177,854 | 84,321 | 67,000 |
| Purchases of investments | (195,161) | (215,225) | (50,328) |
| Proceeds from sale of property and equipment | — | — | 1,798 |
| Purchases of property and equipment | (1,011) | (344) | (55) |
| Net cash (used in) provided by investing activities | (18,318) | (131,248) | 18,415 |
| Financing activities | |||
| Proceeds from issuance of common stock in at the market offering, net of issuance costs | — | 119,236 | 71,625 |
| Proceeds from 2022 Loan Agreement, net of issuance costs | 99,451 | 22,386 | 26,971 |
| Proceeds from the sale of future royalties, net of issuance costs | — | 5,000 | 9,581 |
| Proceeds from issuance of common stock under equity incentive and stock purchase plans | 8,138 | 1,173 | 202 |
| Payment of the exit fees | (1,000) | (1,500) | — |
| Payments for the 2018 Loan, net of costs | — | — | (33,038) |
| Net cash provided by financing activities | 106,589 | 146,295 | 75,341 |
| Net increase (decrease) in cash and cash equivalents | 43,462 | (74,670) | 23,712 |
| Cash and cash equivalents at beginning of period | 21,470 | 96,140 | 72,428 |
| Cash and cash equivalents at end of period | $64,932 | $21,470 | $96,140 |
| Supplementary disclosure of cash flow information | |||
| Cash paid for interest | $11,408 | $4,240 | $2,901 |
| Cash paid for income taxes | $266 | $51 | $6 |
| Supplementary disclosure of non-cash activities | |||
| Right-of-use assets obtained in exchange for lease obligations | $1,010 | $339 | $— |
| Issuance of common stock for services | $257 | $337 | $390 |
| Issuance of derivative in connection with issuance of loan payable | $— | $— | $375 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.