Spyre Therapeutics Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net loss | $(208,018) | $(338,790) | $(83,815) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | — | 744 | 1,567 |
| Stock-based compensation | 44,833 | 25,675 | 7,111 |
| Acquired in-process research and development | — | 130,188 | — |
| Change in fair value of CVR liability | 20,430 | 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 | (11,404) | (2,318) | (327) |
| Interest proceeds from maturities of zero coupon debt securities | 1,283 | — | — |
| Amortization of operating lease assets | — | 220 | 397 |
| Other | — | 15 | 426 |
| Changes in operating assets and liabilities: | |||
| Prepaid expenses and other assets | (2,932) | 3,245 | (1,144) |
| Accounts payable | (230) | 218 | (2,641) |
| Deferred revenue | — | 575 | (880) |
| Development receivables | — | 375 | 440 |
| Operating lease liabilities | — | (2,326) | (435) |
| Accrued and other liabilities | 14,609 | (4,891) | (843) |
| Related party accounts payable | (15,981) | (2,402) | — |
| Net cash used in operating activities | (157,410) | (99,910) | (80,144) |
| 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) |
| Proceeds from the sale of property plant and equipment | — | 475 | — |
| Purchases of marketable securities | (599,252) | (166,803) | (39,500) |
| Proceeds from maturities and sales of marketable securities | 245,967 | 39,900 | 96,546 |
| Net cash provided by (used in) investing activities | (353,285) | (108,393) | 57,008 |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from issuance of Series B non-voting convertible preferred stock in connection with private placement, net of placement and other offering costs | 168,850 | 84,555 | — |
| Proceeds from issuance of common stock in connection with at-the-market offering program, net of issuance costs | 20,521 | — | — |
| Proceeds from issuance of common stock in connection with follow-on offering, net of issuance costs | 215,860 | — | — |
| Payment of deferred offering costs in connection with shelf registration | (407) | — | — |
| 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 common stock in connection with private placement, net of placement and other offering costs | — | 84,555 | — |
| Payment of contingent value rights liability | (1,430) | (5,786) | — |
| Proceeds from issuance of common stock and pre-funded warrants in registered direct offering, net of offering costs | 1 | — | 42,874 |
| Proceeds from employee stock option exercises and employee stock plan purchases | 7,511 | 405 | 222 |
| Principal payments on finance lease obligation | — | (16) | (418) |
| Net cash provided by financing activities | 410,906 | 361,077 | 42,678 |
| Effect of exchange rate on cash, cash equivalents, and restricted cash | (3) | 25 | (106) |
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | (99,792) | 152,799 | 19,436 |
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | |||
|---|---|---|---|
| Beginning of period | 189,215 | 36,416 | 16,980 |
| End of period | $89,423 | $189,215 | $36,416 |
| Supplemental Disclosure of Non-Cash Investing and Financing Information: | |||
| Allocation of deferred offering costs against proceeds of issuance of common stock | $204 | $— | $— |
| Exchange of Series A non-voting convertible preferred stock for common stock | $38,502 | $— | $— |
| Conversion of Series B non-voting convertible preferred stock into common stock | $244,010 | $— | $— |
| 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 |
| Reconciliation of Cash, Cash Equivalents, and Restricted Cash Reported in the Statement of Financial Position | |||
| Cash and cash equivalents | 89,423 | 188,893 | $34,863 |
| Restricted cash | $— | $322 | $1,553 |
| Total cash, cash equivalents, and restricted cash shown in the statement of cash flows | $89,423 | $189,215 | $36,416 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.