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SEC Filings

10-Q
MYOKARDIA INC filed this Form 10-Q on 05/09/2019
Entire Document
 

 

MYOKARDIA, INC.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

 

 

 

Three Months Ended

March 31,

 

 

 

2019

 

 

2018

 

Cash flow from operating activities:

 

 

 

 

 

 

 

 

Net loss

 

$

(37,470

)

 

$

(17,820

)

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

 

 

 

 

 

 

 

 

Stock-based compensation expense

 

 

6,981

 

 

 

3,631

 

Depreciation

 

 

461

 

 

 

300

 

Amortization of (discounts) premiums on investments

 

 

(292

)

 

 

2

 

Change in operating assets and liabilities:

 

 

 

 

 

 

 

 

Receivable from collaboration partner

 

 

 

 

 

1,013

 

Prepaid expenses and other current assets

 

 

448

 

 

 

(444

)

Operating lease right-of-use assets

 

 

635

 

 

 

 

Other long-term assets

 

 

(13

)

 

 

(146

)

Accounts payable

 

 

1,950

 

 

 

212

 

Accrued liabilities

 

 

(180

)

 

 

(1,257

)

Prepayment from collaboration partner

 

 

(9,874

)

 

 

3,269

 

Other long-term liabilities

 

 

(692

)

 

 

(43

)

Deferred revenue

 

 

 

 

 

(5,331

)

Net cash used in operating activities

 

 

(38,046

)

 

 

(16,614

)

Cash flow from investing activities:

 

 

 

 

 

 

 

 

Purchases of investments

 

 

(32,697

)

 

 

(31,749

)

Sales of investments

 

 

4,000

 

 

 

 

Maturities of investments

 

 

16,000

 

 

 

8,000

 

Purchases of property and equipment

 

 

(813

)

 

 

(1,188

)

Proceeds from sale of equipment

 

 

 

 

 

39

 

Net cash used in investing activities

 

 

(13,510

)

 

 

(24,898

)

Cash flow from financing activities:

 

 

 

 

 

 

 

 

Proceeds from issuance of common stock in follow-on offerings,

   net of issuance costs

 

 

271,520

 

 

 

 

Payments of financing related costs

 

 

(35

)

 

 

 

Proceeds from exercise of stock options and employee stock purchase plan

 

 

280

 

 

 

806

 

Net cash provided by financing activities

 

 

271,765

 

 

 

806

 

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

 

 

220,209

 

 

 

(40,706

)

Cash, cash equivalents and restricted cash, beginning of period

 

 

248,265

 

 

 

224,857

 

Cash, cash equivalents and restricted cash, end of period

 

$

468,474

 

 

$

184,151

 

Non-cash investing and financing activities:

 

 

 

 

 

 

 

 

Vesting of early exercised options and restricted stock

 

$

8

 

 

$

18

 

Unpaid financing-related costs

 

$

262

 

 

$

 

Unpaid portion of property and equipment purchases included in

   period-end accounts payable and accrued liabilities

 

$

570

 

 

$

317

 

 

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

 

 

 

 

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