X4 Pharmaceuticals, Inc
For the period ended Dec 31, 2024. Filed Mar 26, 2025.
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FY2024 · Filed Mar 26, 2025
XFOR$3.33+4.7%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
Consolidated Statements of Cash Flows F-
Table of Contents
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year EndedDecember 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net loss | $(37,450) | $(101,167) | $(93,867) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Stock-based compensation expense | 8,204 | 8,687 | 5,199 |
| Depreciation and amortization expense | 796 | 419 | 513 |
| Gain on sale of non-financial asset | (105,000) | — | — |
| Non-cash lease expense | 1,585 | 1,577 | 1,481 |
| Accretion of debt discount | 856 | 929 | 918 |
| Change in fair value of warrant and derivative liability | (1,928) | (7,074) | 2,881 |
| Other | (639) | (227) | 37 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (1,070) | — | — |
| Inventory | (2,817) | — | — |
| Prepaid expenses, other current assets and research and development incentive receivable | 683 | (1,370) | (610) |
| Accounts payable | (286) | 1,234 | 3,425 |
| Accrued expenses and other long-term liabilities | 7,169 | 1,608 | 3,803 |
| Operating lease liabilities | (1,004) | (1,128) | (882) |
| Net cash used in operating activities | (130,901) | (96,512) | (77,102) |
| Cash flows from investing activities: | |||
| Acquisition of intangible asset | (7,000) | — | — |
| Proceeds from sale of non-financial asset | 105,000 | — | — |
| Purchase of property and equipment | (326) | (60) | (103) |
| Purchase of marketable securities | (57,134) | (16,823) | — |
| Sales and maturities of marketable securities | 26,450 | 2,000 | — |
| Net cash provided by (used in) investing activities | 66,990 | (14,883) | (103) |
| 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 | 294 | 8,712 | 208 |
| Issuance costs for amendments to loan and security agreement and for the sale of warrants accounted for as a liability (Note 13) | — | (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 | 20,000 | 22,500 | — |
| Repayments of borrowings under loan and security agreement | — | (2,064) | (795) |
| Proceeds from sale of shares of common stock, warrants and pre-funded warrants, net of issuance costs | — | 59,999 | 122,631 |
| Net cash provided by financing activities | 20,294 | 88,516 | 117,230 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (156) | 99 | (105) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (43,773) | (22,780) | 39,920 |
| Cash, cash equivalents and restricted cash at beginning of period | 100,248 | 123,028 | 83,108 |
| Cash, cash equivalents and restricted cash at end of period | $56,475 | $100,248 | $123,028 |
| Supplemental disclosure of cash flow information | |||
| Cash paid for interest | $7,766 | $4,604 | $3,006 |
| Supplemental disclosure of non-cash investing and financing activities: | |||
| Acquisition of intangible assets included in accrued expenses | $3,500 | $— | $— |
| Issuance costs not yet paid | $— | $— | $661 |
The accompanying notes are an integral part of these consolidated financial statements.
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