Vaxcyte Inc
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
PCVX$66.36-1.7%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net loss | $(463,927) | $(402,266) | $(223,485) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 7,003 | 3,156 | 2,834 |
| Stock-based compensation expense | 84,822 | 48,760 | 23,650 |
| Non-cash payments for acquired manufacturing rights | — | — | 7,995 |
| Amortization of operating lease right-of-use assets | 8,842 | 7,015 | 6,619 |
| Net accretion of discounts on investments | (38,704) | (34,775) | (947) |
| Unrealized foreign exchange loss | 4,232 | — | — |
| Changes in operating assets and liabilities: | |||
| Prepaid expenses and other current assets | (5,827) | 17,870 | 433 |
| Operating lease right-of-use assets | (49,948) | (16,724) | — |
| Other assets | (26,511) | (33,007) | (465) |
| Operating lease liabilities | 41,886 | 11,284 | 1,151 |
| Accounts payable | 34,584 | 11,225 | 2,896 |
| Accrued compensation | 9,517 | 9,876 | (2,275) |
| Accrued contract manufacturing expenses | (22,943) | 44,501 | 3,826 |
| Accrued expenses | (35,653) | 36,295 | 7,171 |
| Net cash used in operating activities | (452,627) | (296,790) | (170,597) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (22,427) | (16,062) | (5,841) |
| Purchases of manufacturing facility build-out and equipment construction-in-progress | (96,732) | (51,815) | — |
| Purchases of investments | (3,086,701) | (1,329,896) | (102,745) |
| Maturities of investments | 1,133,235 | 611,876 | 168,691 |
| Sales of investments | 66,959 | 12,586 | 14,480 |
| Net cash (used in) provided by investing activities | (2,005,666) | (773,311) | 74,585 |
| Cash flows from financing activities: | |||
| Proceeds from issuance of common stock and pre-funded warrants from follow-on offerings, net of issuance costs | 2,239,713 | 545,302 | 759,181 |
| Proceeds from issuance of common stock under at-the-market offering, net of issuance costs | 195,943 | 90,741 | 97,299 |
| Proceeds from issuance of shares through employee equity incentive plans | 27,144 | 7,646 | 5,928 |
| Taxes paid related to the net share settlement of equity awards | (14,292) | (3,876) | (861) |
| Net cash provided by financing activities | 2,448,508 | 639,813 | 861,547 |
| Effect of exchange rate changes on cash and cash equivalents | 426 | (6,686) | 137 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (9,359) | (436,974) | 765,672 |
| Cash, cash equivalents and restricted cash, beginning of period | 398,554 | 835,528 | 69,856 |
| Cash, cash equivalents and restricted cash, end of period | $389,195 | $398,554 | $835,528 |
| Reconciliation of cash, cash equivalents and restricted cash: | |||
| Cash and cash equivalents | $387,878 | $397,451 | $834,657 |
| Restricted cash | 1,317 | 1,103 | 871 |
| Cash, cash equivalents and restricted cash | $389,195 | $398,554 | $835,528 |
| Supplemental disclosures of non-cash investing and financing activities: | |||
| Purchases of property and equipment recorded in accounts payable and accrued expenses | $13,179 | $8,510 | $110 |
| Issuance of common stock for acquired manufacturing rights | $— | $— | $7,995 |
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