Arcutis Biotherapeutics Inc
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
ARQT$27.39+4.5%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
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net loss | $(140,039) | $(262,140) | $(311,458) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation | 640 | 771 | 622 |
| Non-cash lease expense | 408 | 360 | 319 |
| Amortization of intangible assets | 1,959 | 750 | 312 |
| Acquired in-process research and development | — | — | 29,630 |
| Net amortization/accretion on marketable securities | (6,901) | (6,989) | (2,253) |
| Non-cash interest expense | 5,404 | 4,030 | 2,606 |
| Stock-based compensation | 41,730 | 38,813 | 32,682 |
| Change in fair value of embedded derivative instrument | (279) | 849 | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (47,259) | (17,349) | (8,458) |
| Inventories | (400) | (5,620) | (7,514) |
| Prepaid expenses and other current assets | (948) | (8,621) | 3,472 |
| Accounts payable | 2,229 | 3,152 | 1,565 |
| Accrued liabilities | 32,033 | 5,594 | 1,193 |
| Operating lease liabilities | (735) | (657) | (433) |
| Net cash used in operating activities | (112,158) | (247,057) | (257,715) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of marketable securities | (254,820) | (225,840) | (415,389) |
| Proceeds from maturities of marketable securities | 288,783 | 406,500 | 351,473 |
| Purchases of property and equipment | (143) | (428) | (333) |
| Acquisition of in-process research and development | — | — | (15,450) |
| Milestone payment for intangible asset | (5,000) | — | (7,500) |
| Net cash provided by (used in) investing activities | 28,820 | 180,232 | (87,199) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from issuance of common stock, net of issuance costs | 161,682 | — | 161,592 |
| Repayment of long-term debt | (100,000) | — | — |
| Proceeds from issuance of common stock upon exercise of stock options | 2,807 | 1,247 | 1,016 |
| Proceeds from issuance of common stock for ESPP | 1,713 | 1,175 | 1,922 |
| Proceeds from issuance of common stock and pre-funded warrants, net of issuance costs | — | 95,765 | — |
| Proceeds from long-term debt | — | — | 125,000 |
| Proceeds from issuance of shares under ATM, net of issuance costs | — | 3,136 | 14,455 |
| Payment of debt issuance costs | — | — | (2,187) |
| Net cash provided by financing activities | 66,202 | 101,323 | 301,798 |
| Effect of exchange rate changes on cash | (235) | (50) | — |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (17,371) | 34,448 | (43,116) |
| Cash, cash equivalents and restricted cash at beginning of period | 89,323 | 54,875 | 97,991 |
| Cash, cash equivalents and restricted cash at end of period | $71,952 | $89,323 | $54,875 |
| SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION: | |||
| Interest expense paid in cash | $22,209 | $25,445 | $12,636 |
| Acquired in-process research and development in exchange for the issuance of common stock | $— | $— | $12,468 |
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