Akebia Therapeutics Inc
For the period ended Dec 31, 2024. Filed Mar 13, 2025.
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FY2024 · Filed Mar 13, 2025
AKBA$0.54+1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENT OF CASH FLOWS
| Years Ended December 31, | ||
|---|---|---|
| (dollars in thousands) | 2024 | 2023 |
| Operating Activities: | ||
| Net loss | $(69,410) | $(51,925) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 1,462 | 1,585 |
| Amortization of intangible asset | 36,042 | 36,042 |
| Bad debt expense | 876 | — |
| Change in fair value of warrant liability | 330 | — |
| Non-cash interest expense | 13,069 | (2,228) |
| Non-cash royalty revenue related to sale of future royalties | (1,895) | (1,977) |
| Non-cash research and development expense | — | 782 |
| Amortization of right-of-use assets | 4,198 | 4,219 |
| Non-cash write-off on termination of lease | — | (825) |
| Loss on extinguishment of debt | 294 | — |
| Write-down of inventory | 4,208 | 1,580 |
| Change in firm purchase commitments | 2,068 | 1,533 |
| Stock-based compensation expense | 7,775 | 9,317 |
| Change in fair value of embedded debt derivative | — | (760) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 4,046 | 994 |
| Inventories | (28,401) | (2,542) |
| Prepaid expenses and other current assets | 8,893 | 11,839 |
| Other long-term assets | 622 | (1,361) |
| Accounts payable | (1,364) | (5,244) |
| Accrued expense and other current liabilities | (12,777) | (10,021) |
| Lease liabilities | (4,491) | (4,963) |
| Deferred revenue | — | (3,738) |
| Other long-term liabilities | (6,204) | (5,691) |
| Net cash used in operating activities | (40,659) | (23,384) |
| Investing Activities: | ||
| Purchase of property and equipment | (33) | — |
| Net cash provided by (used in) investing activities | (33) | — |
| Financing Activities: | ||
| Proceeds from the issuance of debt | 45,000 | — |
| Payments of issuance costs related to BlackRock Credit Agreement | (1,272) | — |
| Proceeds from the issuance of common stock, net of issuance costs | 42,495 | 6,708 |
| Proceeds from the sale of stock under employee stock purchase plan | 154 | 85 |
| Proceeds from the exercise of common stock options | 385 | 1 |
| Repayment of term debt | (37,099) | (32,000) |
| Net cash (used in) provided by financing activities | 49,663 | (25,206) |
| Increase (decrease) in cash, cash equivalents and restricted cash | 8,971 | (48,590) |
| Cash, cash equivalents and restricted cash at beginning of the period | 44,579 | 93,169 |
| Cash, cash equivalents and restricted cash at end of the period | $53,550 | $44,579 |
| Non-cash financing activities | ||
| Issuance of warrants in connection with BlackRock Credit Agreement | $4,846 | $— |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $5,035 | $6,059 |
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