EXICURE INC
For the period ended Sep 30, 2023. Filed May 16, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2023 · Filed May 16, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Statements of Cash Flows
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities: | ||
| Net loss | $(15,427) | $(20,978) |
| Adjustments to reconcile net loss to cash used in operating activities: | ||
| Depreciation and amortization | 627 | 882 |
| Equity-based compensation | 1,327 | 1,141 |
| Amortization of long-term debt issuance costs and fees | — | 477 |
| Amortization of right-of-use asset | 551 | 516 |
| Amortization of investments | — | (2) |
| Changes in fair value of investment in convertible notes receivable | 2,000 | — |
| Loss from sale of property and equipment | 920 | 23 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 124 | 2,973 |
| Other noncurrent assets | 291 | 48 |
| Accounts payable | 504 | (2,493) |
| Accrued expenses | 78 | (3,448) |
| Deferred revenue | — | (7,052) |
| Other liabilities | (536) | (469) |
| Net cash used in operating activities | (9,541) | (28,382) |
| Cash flows from investing activities: | ||
| Purchase of available-for-sale securities | (2,000) | (1,499) |
| Proceeds from sale or maturity of available-for-sale securities | — | 5,998 |
| Capital expenditures | — | (10) |
| Proceeds from sale of property and equipment | 211 | — |
| Net cash (used in) provided by investing activities | (1,789) | 4,489 |
| Cash flows from financing activities: | ||
| Repayment of long-term debt | — | (7,500) |
| Payment of long-term debt fees and issuance costs | — | (506) |
| Proceeds from common stock offering | 5,440 | 5,040 |
| Payment of common stock financing costs | (843) | (154) |
| Payment of exercise of common stock warrants | (800) | — |
| Proceeds from issuance of employee stock purchase plan | — | 4 |
| Proceeds from exercise of common stock warrants | — | 14 |
| Proceeds from exercise of common stock options | — | 1 |
| Payments for minimum statutory tax withholding related to net share settlement of equity awards | (122) | (4) |
| Net cash provided by (used in) provided by financing activities | 3,675 | (3,105) |
| Net decrease in cash, cash equivalents, and restricted cash | (7,655) | (26,998) |
| Cash, cash equivalents, and restricted cash - beginning of period | 9,777 | 43,844 |
| Cash, cash equivalents, and restricted cash - end of period | $2,122 | $16,846 |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2023 | 2022 | |
| Supplemental disclosure of cash flow information | ||
| Non-cash investing activities: | ||
| Other receivable from sale of property and equipment | $711 | $— |
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the unaudited condensed consolidated balance sheets that sum to the total of the amounts shown in the unaudited condensed consolidated statements of cash flows:
| September 30,2023 | December 31,2022 | |
|---|---|---|
| Cash and cash equivalents | $922 | $8,577 |
| Restricted cash included in other noncurrent assets | 1,200 | 1,200 |
| Total cash, cash equivalents, and restricted cash shown in the unaudited condensed consolidated statements of cash flows | $2,122 | $9,777 |
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