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SEC Filings

10-Q
SERES THERAPEUTICS, INC. filed this Form 10-Q on 11/08/2018
Entire Document
 

SERES THERAPEUTICS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited, in thousands)

 

 

 

Nine Months Ended

September 30,

 

 

 

2018

 

 

2017

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

Net loss

 

$

(77,655

)

 

$

(60,427

)

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

 

 

 

 

 

 

 

 

Stock-based compensation expense

 

 

12,887

 

 

 

13,150

 

Depreciation and amortization expense

 

 

5,869

 

 

 

5,356

 

Non-cash interest expense

 

 

 

 

 

3

 

Accretion of discount on investments

 

 

(199

)

 

 

(166

)

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

Prepaid expenses and other current assets

 

 

(1,461

)

 

 

(220

)

Deferred revenue

 

 

(16,328

)

 

 

(9,044

)

Accounts payable

 

 

106

 

 

 

(2,502

)

Accrued expenses and other current liabilities

 

 

1,261

 

 

 

(1,065

)

Net cash (used in) operating activities

 

 

(75,520

)

 

 

(54,915

)

Cash flows from investing activities:

 

 

 

 

 

 

 

 

Purchases of property and equipment

 

 

(2,133

)

 

 

(3,991

)

Purchases of investments

 

 

(21,832

)

 

 

(75,728

)

Sales and maturities of investments

 

 

118,887

 

 

 

126,125

 

Net cash provided by investing activities

 

 

94,922

 

 

 

46,406

 

Cash flows from financing activities:

 

 

 

 

 

 

 

 

Proceeds from exercise of stock options

 

 

136

 

 

 

108

 

Proceeds from issuance of common stock and restricted common stock

 

 

26

 

 

 

 

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

 

 

(196

)

 

 

 

Issuance of common stock under ESPP plan

 

 

257

 

 

 

 

Net cash provided by financing activities

 

 

223

 

 

 

108

 

Net increase (decrease) in cash and cash equivalents

 

 

19,625

 

 

 

(8,401

)

Cash, cash equivalents and restricted cash at beginning of period

 

 

37,601

 

 

 

55,939

 

Cash, cash equivalents and restricted cash at end of period

 

$

57,226

 

 

$

47,538

 

Supplemental disclosure of non-cash investing and financing activities:

 

 

 

 

 

 

 

 

Property and equipment purchases included in accounts payable and accrued expenses

 

$

242

 

 

$

453

 

 

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

 

 

6



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