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SEC Filings

10-Q
SERES THERAPEUTICS, INC. filed this Form 10-Q on 05/09/2018
Entire Document
 

SERES THERAPEUTICS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited, in thousands)

 

 

 

Three Months Ended March 31,

 

 

 

2018

 

 

2017

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

Net loss

 

$

(27,919

)

 

$

(25,474

)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

 

 

Stock-based compensation expense

 

 

4,236

 

 

 

4,279

 

Depreciation and amortization expense

 

 

1,941

 

 

 

1,730

 

Non-cash interest expense

 

 

 

 

 

3

 

Accretion of discount on investments

 

 

(50

)

 

 

(59

)

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

Prepaid expenses and other current assets

 

 

835

 

 

 

(62

)

Deferred revenue

 

 

(3,592

)

 

 

(3,015

)

Accounts payable

 

 

(1,426

)

 

 

(1,916

)

Accrued expenses and other current liabilities

 

 

(788

)

 

 

(1,135

)

Net cash used in operating activities

 

 

(26,763

)

 

 

(25,649

)

Cash flows from investing activities:

 

 

 

 

 

 

 

 

Purchases of property and equipment

 

 

(953

)

 

 

(2,247

)

Purchases of investments

 

 

(5,270

)

 

 

(22,513

)

Sales and maturities of investments

 

 

44,257

 

 

 

37,751

 

Net cash provided by investing activities

 

 

38,034

 

 

 

12,991

 

Cash flows from financing activities:

 

 

 

 

 

 

 

 

Proceeds from exercise of stock options and common stock warrants

 

 

32

 

 

 

19

 

Payments of employee tax obligations related to vesting of restricted stock units

 

 

(197

)

 

 

 

Net cash (used in) provided by financing activities

 

 

(165

)

 

 

19

 

Net increase (decrease) in cash, cash equivalents and restricted cash

 

 

11,106

 

 

 

(12,639

)

Cash, cash equivalents and restricted cash at beginning of period

 

 

37,601

 

 

 

55,939

 

Cash, cash equivalents and restricted cash at end of period

 

$

48,707

 

 

$

43,300

 

Supplemental disclosure of non-cash investing and financing activities:

 

 

 

 

 

 

 

 

Property and equipment purchases included in accounts payable and accrued expenses

 

$

393

 

 

$

349

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

 

 

6



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