ARDELYX INC
For the period ended Dec 31, 2023. Filed Feb 22, 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 Feb 22, 2024
ARDX$2.88-3.7%Stored close · as of Nov 6, 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, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating activities | |||
| Net loss | $(66,067) | $(67,207) | $(158,165) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization expense | 1,292 | 1,144 | 2,807 |
| Non-cash lease expense | 3,624 | 3,457 | 3,085 |
| Stock-based compensation | 13,530 | 10,750 | 12,039 |
| Non-cash interest expense | 4,220 | 1,962 | 283 |
| Gain on sale of equipment | — | (1,260) | — |
| Other, net | (2,930) | 685 | (678) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (14,298) | (7,231) | (502) |
| Inventory | (21,141) | (28,346) | — |
| Prepaid commercial manufacturing | (9,593) | (4,161) | (9,406) |
| Prepaid expenses and other assets | (6,035) | 2,299 | 502 |
| Accounts payable | 279 | 6,582 | (1,349) |
| Accrued compensation and benefits | 5,049 | 2,126 | (250) |
| Operating lease liabilities | (3,928) | (3,491) | (2,853) |
| Accrued and other liabilities | 3,691 | 4,138 | 1,386 |
| Deferred revenue | 2,590 | 8,509 | 550 |
| Net cash used in operating activities | (89,717) | (70,044) | (152,551) |
| Investing activities | |||
| Proceeds from maturities and redemptions of investments | 84,321 | 67,000 | 125,550 |
| Purchases of investments | (215,225) | (50,328) | (72,735) |
| Proceeds from sale of property and equipment | — | 1,798 | — |
| Purchases of property and equipment | (344) | (55) | (1,867) |
| Net cash (used in) provided by investing activities | (131,248) | 18,415 | 50,948 |
| Financing activities | |||
| Proceeds from issuance of common stock in at the market offering, net of issuance costs | 119,236 | 71,625 | 101,146 |
| Proceeds from 2022 Loan, net of issuance costs | 22,386 | 26,971 | — |
| Proceeds from the sale of future royalties, net of issuance costs | 5,000 | 9,581 | — |
| Proceeds from issuance of common stock under equity incentive and stock purchase plans | 1,173 | 202 | 1,403 |
| Payment of the 2018 Exit Fee | (1,500) | — | — |
| Payments for the 2018 Loan, net of costs | — | (33,038) | (19,444) |
| Payments for taxes related to net share settlement of equity awards | — | — | (106) |
| Net cash provided by financing activities | 146,295 | 75,341 | 82,999 |
| Net (decrease) increase in cash and cash equivalents | (74,670) | 23,712 | (18,604) |
| Cash and cash equivalents at beginning of period | 96,140 | 72,428 | 91,032 |
| Cash and cash equivalents at end of period | $21,470 | $96,140 | $72,428 |
| Supplementary disclosure of cash flow information: | |||
| Cash paid for interest | $4,240 | $2,901 | $3,469 |
| Cash paid for income taxes | $51 | $6 | $4 |
| Supplementary disclosure of non-cash activities: | |||
| Right-of-use assets obtained in exchange for lease obligations | $339 | $— | $1,604 |
| Issuance of common stock for services | $337 | $390 | $190 |
| Issuance of derivative in connection with issuance of loan payable | $— | $375 | $— |
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