Spyre Therapeutics Inc
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
SYRE$104.48-4.1%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 Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net loss | $(338,790) | $(83,815) | $(65,801) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 744 | 1,567 | 1,576 |
| Stock-based compensation | 25,675 | 7,111 | 8,038 |
| Acquired in-process research and development | 130,188 | — | — |
| Change in fair value of CVR liability | 18,986 | — | — |
| Change in fair value of forward contract liability | 83,530 | — | — |
| Gain on sale of in-process research and development asset | (16,449) | — | — |
| Lease ROU asset and leasehold improvement impairment loss | 2,580 | — | — |
| Loss on disposal of long-lived assets | 915 | — | — |
| Net (accretion of discount) amortization of premium on marketable securities | (2,318) | (327) | 548 |
| Amortization of operating lease assets | 220 | 397 | 425 |
| Other | 15 | 426 | (335) |
| Changes in operating assets and liabilities: | |||
| Prepaid expenses and other assets | 3,245 | (1,144) | (1,216) |
| Accounts payable | 218 | (2,641) | 1,065 |
| Deferred revenue | 575 | (880) | 3,576 |
| Development receivables | 375 | 440 | (815) |
| Operating lease liabilities | (2,326) | (435) | (404) |
| Accrued and other liabilities | (4,891) | (843) | (373) |
| Related party payable | (2,402) | — | — |
| Net cash used in operating activities | (99,910) | (80,144) | (53,716) |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Cash assumed from asset acquisition of Spyre | 3,035 | — | — |
| Proceeds from sale of in-process research & development asset | 15,000 | — | — |
| Purchases of property and equipment | — | (38) | (573) |
| Proceeds from the sale of property plant and equipment | 475 | — | — |
| Purchases of marketable securities | (166,803) | (39,500) | (133,079) |
| Proceeds from maturities and sales of marketable securities | 39,900 | 96,546 | 111,033 |
| Net cash provided by (used in) investing activities | (108,393) | 57,008 | (22,619) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from issuance of Series A non-voting convertible preferred stock in connection with private placement, net of placement and other offering costs | 197,364 | — | — |
| Proceeds from issuance of Series B non-voting convertible preferred stock in connection with private placement, net of placement and other offering costs | 84,555 | — | — |
| Proceeds from issuance of common stock in connection with private placement, net of placement and other offering costs | 84,555 | — | — |
| Payment of contingent value rights liability | (5,786) | — | — |
| Proceeds from issuance of common stock and pre-funded warrants in registered direct offering, net of offering costs | — | 42,874 | — |
| Proceeds from employee stock plan purchases and stock option exercises | 405 | 222 | 1,903 |
| Principal payments on finance lease obligation | (16) | (418) | (510) |
| Net cash provided by financing activities | 361,077 | 42,678 | 1,393 |
| Effect of exchange rate on cash, cash equivalents, and restricted cash | 25 | (106) | (15) |
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | 152,799 | 19,436 | (74,957) |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | |||
| Beginning of period | 36,416 | 16,980 | 91,937 |
| End of period | $189,215 | $36,416 | $16,980 |
| Supplemental Disclosure of Non-Cash Investing and Financing Information: | |||
| Settlement of forward contract liability and issuance of Series A non-voting convertible preferred stock in connection with the asset acquisition of Spyre | $189,741 | $— | $— |
| Conversion of Series A non-voting convertible preferred stock into common stock | $202,178 | $— | $— |
| Leased assets obtained in exchange for lease obligations | $— | $21 | $872 |
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