Tarsus Pharmaceuticals Inc
For the period ended Sep 30, 2024. Filed Nov 13, 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, 2024 · Filed Nov 13, 2024
TARS$73.83+4.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Statements of Cash Flows
(In thousands)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flows From Operating Activities: | ||
| Net loss | $(92,441) | $(93,991) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 493 | 497 |
| Amortization of intangible assets | 300 | 33 |
| Amortization of debt-related costs | 344 | 274 |
| Stock-based compensation | 20,415 | 14,348 |
| Loss on debt extinguishment | 1,944 | — |
| Non-cash lease expense | 462 | 410 |
| Realized/unrealized loss on equity investments | 591 | 161 |
| Net amortization/accretion of marketable securities | (2,732) | (3,038) |
| Change in fair value of equity warrants issued by licensee | 201 | 35 |
| Unrealized loss from transactions denominated in a foreign currency | 7 | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | (12,538) | (5,362) |
| Inventory | (2,273) | (15) |
| Other receivables | (52) | 2,574 |
| Prepaid expenses | 683 | (1,028) |
| Other non-current assets | 614 | (608) |
| Accounts payable and other accrued liabilities | 25,290 | 5,177 |
| Accrued payroll and benefits | (1,920) | 2,379 |
| Other long-term liabilities | (233) | (4) |
| Net cash used in operating activities | (60,845) | (78,158) |
| Cash Flows From Investing Activities: | ||
| Proceeds from maturities of marketable securities | 37,535 | 156,920 |
| Purchases of marketable securities | (172,661) | (28,664) |
| Purchases of long-term investments | (3,000) | — |
| Intangible asset additions | — | (4,000) |
| Purchases of property and equipment | (1,495) | (1,502) |
| Net cash (used in) provided by investing activities | (139,621) | 122,754 |
| Cash Flows From Financing Activities: | ||
| Proceeds from issuance of common stock, net of paid issuance costs | 98,287 | 99,377 |
| Proceeds from issuance of pre-funded warrants, net of paid issuance costs | 9,365 | — |
| Proceeds from sale of common stock under employee stock purchase plan | 1,136 | 465 |
| Proceeds from exercise of equity awards | 3,341 | 574 |
| Proceeds from long-term debt | 75,000 | 10,000 |
| Payments for debt extinguishment | (31,877) | — |
| Payment of debt issuance costs | (3,523) | — |
| Net cash provided by financing activities | 151,729 | 110,416 |
| Net (decrease) increase in cash and cash equivalents | (48,737) | 155,012 |
| Cash and cash equivalents — beginning of period | 224,947 | 71,660 |
| Cash and cash equivalents — end of period | $176,210 | $226,672 |
| Supplemental Disclosures Noncash and Other Investing and Financing Activities: | ||
| Operating lease right-of-use asset obtained in exchange for operating lease liability | $384 | $1,846 |
| Interest expense paid in cash | $5,488 | $2,034 |
| Additions of intangible assets included within accounts payable and other accrued liabilities | $5,000 | $— |
| Additions of property and equipment included within accounts payable and other accrued liabilities | $58 | $32 |
| Offering costs included within accounts payable and accrued liabilities | $18 | $22 |
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