Tarsus Pharmaceuticals Inc
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
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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Statements of Cash Flows
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash Flows From Operating Activities: | |||
| Net loss | $(115,554) | $(135,893) | $(62,091) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation | 685 | 744 | 326 |
| Amortization of intangible assets | 540 | 133 | — |
| Amortization/accretion of debt-related costs | 482 | 385 | 309 |
| Stock-based compensation | 27,818 | 19,830 | 13,460 |
| Loss on debt extinguishment | 1,944 | — | — |
| Non-cash lease expense | 635 | 541 | 464 |
| Net amortization/accretion on marketable securities | (4,213) | (3,163) | (1,316) |
| Realized/unrealized loss (gain) on equity investments | 591 | (259) | 268 |
| Change in fair value of equity warrants issued by licensee | 201 | (117) | 501 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (30,139) | (16,621) | — |
| Inventory | (2,046) | (3,107) | — |
| Other receivables | (206) | 2,490 | (3,490) |
| Prepaid expenses | (7,019) | (2,889) | (721) |
| Other non-current assets | 572 | (718) | (215) |
| Accounts payable and other accrued liabilities | 40,337 | 13,240 | 821 |
| Accrued payroll and benefits | 2,578 | 7,726 | 2,721 |
| Other long-term liabilities | (233) | 185 | (67) |
| Net cash used in operating activities | (83,027) | (117,493) | (49,030) |
| Cash Flows From Investing Activities: | |||
| Proceeds from sales and maturities of marketable securities | 73,000 | 174,770 | 5,315 |
| Purchases of marketable securities | (262,628) | (28,664) | (149,438) |
| Purchases of long-term investments | (3,000) | — | — |
| Intangible asset additions | (5,000) | (4,000) | — |
| Purchases of property and equipment | (1,567) | (1,502) | (506) |
| Net cash (used in) provided by investing activities | (199,195) | 140,604 | (144,629) |
| Cash Flows From Financing Activities: | |||
| Proceeds from issuance of common stock, net of paid issuance costs | 98,287 | 99,355 | 74,352 |
| Proceeds from issuance of pre-funded warrants, net of paid issuance costs | 9,365 | — | — |
| Proceeds from issuance of common stock under an at-the-market sales agreement, net of paid issuance costs | — | 19,244 | — |
| Proceeds from long-term debt | 75,000 | 10,000 | 20,000 |
| Payment of debt issuance costs | (3,523) | — | (875) |
| Payments for debt extinguishment | (31,877) | — | — |
| Proceeds from sale of common stock under employee stock purchase plan | 1,795 | 985 | 462 |
| Proceeds from exercise of stock options | 5,609 | 592 | 123 |
| Payments of deferred offering costs | — | — | (75) |
| Net cash provided by financing activities | 154,656 | 130,176 | 93,987 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (127,566) | 153,287 | (99,672) |
| Cash, cash equivalents and restricted cash at beginning of period | 224,947 | 71,660 | 171,332 |
| Cash, cash equivalents and restricted cash at end of period | $97,381 | $224,947 | $71,660 |
| Supplemental Disclosures From Noncash, Investing and Financing Activities: | |||
| Operating lease right-of-use asset obtained in exchange for operating lease liability | $384 | $1,846 | $— |
| Operating lease modification | $1,078 | $— | $— |
| Interest expense paid in cash | $7,662 | $2,880 | $1,675 |
| Additions of property and equipment included within accounts payable and other accrued liabilities | $99 | $134 | $21 |
| Offering costs included within accounts payable and other accrued liabilities | $21 | $— | $— |
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