Werewolf Therapeutics Inc
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
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FY2023 · Filed Mar 7, 2024
HOWL$0.97-4.0%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 | |
| Operating activities: | ||
| Net loss | $(37,368) | $(53,810) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation expense | 8,008 | 7,400 |
| Depreciation expense | 1,764 | 1,104 |
| Non-cash interest expense | 273 | — |
| Non-cash lease expense | 1,575 | 1,406 |
| Change in fair value of success payment liability | (1,030) | 555 |
| Amortization of debt issuance costs | 60 | 203 |
| Loss on disposal of property and equipment | — | 7 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other assets | 1,267 | (262) |
| Other receivables | 5,578 | (6,928) |
| Accounts payable, accrued expenses and other liabilities | (4,335) | 3,046 |
| Deferred revenue | (6,320) | 7,660 |
| Operating lease liability | (2,084) | (977) |
| Net cash used in operating activities | (32,612) | (40,596) |
| Investing activities: | ||
| Purchases of property and equipment | (769) | (3,611) |
| Net cash used in investing activities | (769) | (3,611) |
| Financing activities: | ||
| Proceeds from at the market offering of common stock, net of issuance costs | 18,329 | 15,740 |
| Proceeds from drawdown of term loans | 40,000 | — |
| Proceeds from issuances under Employee Stock Purchase Plan | 93 | — |
| Proceeds from stock option exercises | 7 | 254 |
| Payment of deferred financing costs | — | (88) |
| Net cash provided by financing activities | 58,429 | 15,906 |
| Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents | 25,048 | (28,301) |
| Cash, cash equivalents and restricted cash and cash equivalents—beginning of period | 130,529 | 158,830 |
| Cash, cash equivalents and restricted cash and cash equivalents—end of period | $155,577 | $130,529 |
| Reconciliation of cash, cash equivalents and restricted cash and cash equivalents to the consolidated balance sheets | ||
| Cash and cash equivalents | $134,343 | $129,315 |
| Prepaid expenses and other current assets | 211 | — |
| Restricted cash and cash equivalents, net of current portion | 21,023 | 1,214 |
| Total cash, cash equivalents and restricted cash and cash equivalents | $155,577 | $130,529 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $2,556 | $— |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Purchases of property and equipment in accounts payable and accrued expenses | $76 | $111 |
| Issuance costs in accounts payable and accrued expenses | $36 | $4 |
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