COMPASS Pathways plc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
View on SEC.govAbout this filing
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.
FY2024 · Filed Feb 27, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | $(155,122) | $(118,464) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Depreciation | 233 | 242 |
| Non-cash interest | 1,408 | 636 |
| Loss on disposal of property and equipment | — | 40 |
| Non-cash loss (gain) on foreign currency remeasurement | 755 | (2,617) |
| Non-cash share-based compensation | 19,517 | 17,277 |
| Non-cash lease expenses | 2,300 | 2,027 |
| Changes in operating assets and liabilities | ||
| Prepaid expenses and other current assets | 3,220 | 10,458 |
| Deferred and prepaid tax assets | 686 | (1,661) |
| Long-term prepaid expenses and other assets | 135 | (5,842) |
| Operating lease liabilities | (2,265) | (1,959) |
| Accounts payable | 6,590 | 864 |
| Accrued expenses and other liabilities | 3,357 | 1,623 |
| Net cash used in operating activities | (119,186) | (97,376) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of property and equipment | — | (66) |
| Proceeds from disposal of property and equipment | — | 2 |
| Net cash used in investing activities | — | (64) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from issuance of ordinary shares, net of issuance costs | 26,219 | 144,935 |
| Proceeds from the exercise of warrants | 37,258 | — |
| Proceeds from the issuance of shares under the employee share purchase plan | 365 | 351 |
| Payments of withholding tax on stock award | (239) | (265) |
| Net proceeds from issuance of long-term debt | — | 29,585 |
| Payment of issuance cost of long-term debt | — | (778) |
| Proceeds from exercise of share options | 221 | 2 |
| Net cash provided by financing activities | 63,824 | 173,830 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 194 | 867 |
| Net (decrease)/increase in cash, cash equivalents and restricted cash | (55,168) | 77,257 |
| Cash, cash equivalents and restricted cash, beginning of the period | 220,638 | 143,381 |
| Cash, cash equivalents and restricted cash, end of the period | $165,470 | $220,638 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | ||
| Cash paid for interest | $3,070 | $1,254 |
| Cash paid for taxes | $1,121 | $2,442 |
In 2023, the Company received $124.9 million in gross proceeds for the PIPE offering, of which $8.1 million was paid for issuance costs and the net proceeds of $116.8 million has been included in the proceeds from issuance of ordinary shares, net of issuance costs within the cash flows from financing activities.
The following table provides a reconciliation of the cash, cash equivalents and restricted cash balances as of each of the periods, shown above:
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash and cash equivalents | $165,081 | $220,198 |
| Short-term restricted cash | 389 | 440 |
| Total cash, cash equivalents and restricted cash | $165,470 | $220,638 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.