Candel Therapeutics Inc
For the period ended Dec 31, 2023. Filed Mar 28, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 28, 2024
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| YEAR ENDEDDECEMBER 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash Flows from Operating Activities: | ||
| Net loss | $(37,939) | $(18,794) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation expense | 960 | 778 |
| Impairment of fixed assets | 390 | — |
| Loss on the sale of fixed assets | 79 | — |
| Non-cash stock compensation expense | 3,091 | 2,307 |
| Non-cash lease expense | 240 | 209 |
| Non-cash interest expense | 103 | 89 |
| Change in fair value of warrant liability | (966) | (16,370) |
| Accretion of debt discount | 323 | 291 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 503 | 416 |
| Other assets | (116) | — |
| Accounts payable | 45 | (1,213) |
| Accrued expenses | (301) | 1,265 |
| Deferred revenue | (192) | 67 |
| Lease liability | (464) | (464) |
| Net cash used in operating activities | (34,244) | (31,419) |
| Cash Flows from Investing Activities: | ||
| Purchase of fixed assets | (457) | (1,297) |
| Proceeds from the sale of fixed assets | 177 | — |
| Net cash used in investing activities | (280) | (1,297) |
| Cash Flows from Financing Activities: | ||
| Net proceeds from bank term loan | — | 19,910 |
| Payments related to tax withholding for vested restricted stock units | (121) | — |
| Proceeds from option exercises | — | 64 |
| Net cash (used in) provided by financing activities | (121) | 19,974 |
| Net decrease in cash | (34,645) | (12,742) |
| Cash, cash equivalents and restricted cash at beginning of period | 70,324 | 83,066 |
| Cash, cash equivalents and restricted cash at end of period | $35,679 | $70,324 |
| Supplemental cash flow information: | ||
| Cash paid for taxes | $— | $183 |
| Cash paid for interest | $2,148 | $1,152 |
| Supplemental disclosures of non-cash information: | ||
| Lease liability arising from obtaining right-of-use assets | $— | $2,368 |
| Capital expenditures in accounts payable and accrued expenses | $— | $69 |
| Common stock exchange for option exercise | $— | $448 |
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