Tarsus Pharmaceuticals Inc
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
TARS$73.83+4.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Statements of Cash Flows
(In thousands)
| Year endedDecember 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash Flows From Operating Activities: | ||
| Net loss | $(135,893) | $(62,091) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 744 | 325 |
| Amortization of intangible assets | 133 | — |
| Stock-based compensation | 19,830 | 13,460 |
| Accretion of term loan-related costs | 385 | 309 |
| Non-cash lease expense | 541 | 464 |
| Amortization of discount on available-for-sale debt securities | — | (1,316) |
| Net amortization/accretion on marketable securities | (3,163) | — |
| Unrealized (gain) loss on equity investment | (259) | 268 |
| Change in fair value of equity warrants issued by licensee | (117) | 501 |
| Unrealized gain from transactions denominated in a foreign currency | — | 1 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | (16,621) | — |
| Inventory | (3,107) | — |
| Other receivables | 2,490 | (3,490) |
| Prepaid expenses | (2,889) | (721) |
| Other non-current assets | (718) | (215) |
| Accounts payable and other accrued liabilities | 13,240 | 821 |
| Accrued payroll and benefits | 7,726 | 2,721 |
| Other long-term liabilities | 185 | (67) |
| Net cash used in by operating activities | (117,493) | (49,030) |
| Cash Flows From Investing Activities: | ||
| Proceeds from sales of marketable securities | 174,770 | 5,315 |
| Purchases of marketable securities | (28,664) | (149,438) |
| Intangible asset additions | (4,000) | — |
| Purchases of property and equipment | (1,502) | (506) |
| Net cash provided by (used in) investing activities | 140,604 | (144,629) |
| Cash Flows From Financing Activities: | ||
| Proceeds from issuance of common stock upon follow-on public offering, net of paid issuance costs | 99,355 | 74,352 |
| Proceeds from issuance of common stock under an at-the-market sales agreement, net of paid issuance costs | 19,244 | — |
| Proceeds from term loan | 10,000 | 20,000 |
| Proceeds from sale of common stock under employee stock purchase plan | 985 | 462 |
| Proceeds from exercise of vested stock options | 592 | 123 |
| Payment of deferred offering costs | — | (75) |
| Payment of term loan issuance costs | — | (875) |
| Net cash provided by financing activities | 130,176 | 93,987 |
| Net increase (decrease) in cash and cash equivalents | 153,287 | (99,672) |
| Cash and cash equivalents — beginning of year | 71,660 | 171,332 |
| Cash and cash equivalents — end of year | $224,947 | $71,660 |
| Supplemental Disclosures Noncash Investing and Financing Activities: | ||
| Operating lease right-of-use asset obtained in exchange for operating lease liability | $1,846 | $— |
| Interest expense paid in cash | $2,880 | $1,675 |
| Additions of property and equipment included within accounts payable and other accrued liabilities | $134 | $21 |
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