Praxis Precision Medicines Inc
For the period ended Dec 31, 2023. Filed Mar 5, 2024.
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FY2023 · Filed Mar 5, 2024
PRAX$337.59+1.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
(Amounts in thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities: | ||
| Net loss | $(123,277) | $(214,029) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation expense | 432 | 419 |
| Stock-based compensation expense | 24,857 | 28,593 |
| Non-cash operating lease expense | 837 | 752 |
| Amortization of premiums and discounts on marketable securities, net | 47 | 1,003 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 6,772 | 547 |
| Accounts payable | (8,855) | 3,892 |
| Accrued expenses | (8,497) | (10,465) |
| Operating lease liabilities | (1,005) | (811) |
| Deferred revenue | (2,447) | 5,000 |
| Other | — | 56 |
| Net cash used in operating activities | (111,136) | (185,043) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (50) | (444) |
| Purchases of marketable securities | — | (83,022) |
| Maturities of marketable securities | 39,000 | 180,355 |
| Net cash provided by investing activities | 38,950 | 96,889 |
| Cash flows from financing activities: | ||
| Proceeds from at-the-market offerings, net of issuance costs | 28,153 | 9,561 |
| Issuance of common stock from follow-on public offering and accompanying pre-funded warrants, net of underwriting discounts, commissions and offering costs | 63,439 | — |
| Payment of issuance costs for at-the-market offerings | — | (262) |
| Payments of tax withholdings related to vesting of restricted stock units | (137) | (260) |
| Proceeds from exercise of options and employee stock purchase plan purchases | 416 | 1,426 |
| Net cash provided by financing activities | 91,871 | 10,465 |
| Increase (decrease) in cash, cash equivalents and restricted cash | 19,685 | (77,689) |
| Cash, cash equivalents and restricted cash, beginning of period | 62,031 | 139,720 |
| Cash, cash equivalents and restricted cash, end of period | $81,716 | $62,031 |
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents | 81,300 | 61,615 |
| Restricted cash | 416 | 416 |
| Total cash, cash equivalents and restricted cash | $81,716 | $62,031 |
| Supplemental disclosures of non-cash activities: | ||
| Offering costs from follow-on public offering included in accounts payable | $184 | $— |
| Issuance costs from at-the-market offerings included in accrued expenses | $63 | $— |
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