Avidity Biosciences, Inc. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2025 12 months to Dec 31, 2025	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021
Cash flows from operating activities
Net loss
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation
Stock-based compensation expense
Amortization of premiums and discounts on marketable securities, net
Amortization of discounts and loan issuance costs
Loss on disposal of property and equipment
Noncash interest expense
Change in fair value of preferred warrant liability
Noncash operating lease costs

Changes in operating assets and liabilities:
Prepaid and other assets
Accounts payable and accrued liabilities
Accrued compensation
Operating lease right-of-use assets and liabilities, net
Accounts payable
Accrued expenses and other liabilities
Operating right-of-use assets and lease liabilities, net
Deferred revenue

Net cash used in operating activities
Cash flows from investing activities
Purchases of marketable securities
Proceeds from maturities of marketable securities
Purchases of property and equipment
Tenant improvements capitalized to right-of-use assets
Net cash used in investing activities
Cash flows from financing activities
Proceeds from issuance of common stock in public offerings, gross
Payment of issuance costs related to public offerings
Proceeds from exercise of stock/unit options, net of repurchases
Proceeds from issuance of common stock under employee stock purchase plan
Proceeds from issuance of common stock in public offerings, net of issuance costs
Proceeds from issuance of common stock in private placements, net of issuance costs and allocation to deferred revenues (Note 5)
Proceeds from issuance of pre-funded warrants in a private placement, net of issuance costs
Proceeds from the issuance of common stock under employee incentive equity plans
Payments on long-term debt
Distributions to members
Proceeds from issuance of Series C convertible preferred stock, net of issuance costs
Proceeds from issuance of convertible notes, net of issuance costs
Payments for taxes related to net share settlement of equity awards
Net cash provided by financing activities

Effect of exchange rate on cash, cash equivalents and restricted cash
Net increase (decrease) in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period
Cash, cash equivalents and restricted cash at end of period
Cash paid for interest
Supplemental schedule of noncash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease liabilities
Costs incurred, but not paid, in connection with public offering included in accounts payable and accrued liabilities
Costs incurred, but not paid, in connection with purchases of property and equipment included in accounts payable and accrued expenses and other liabilities
Conversion of convertible preferred stock into common stock upon completion of initial public offering
Issuance of Series C convertible preferred stock upon conversion of outstanding convertible notes
Reclassification of warrant liability to equity due to adjustment from preferred stock warrant to common stock warrant upon completion of initial public offering
Tenant improvements capitalized to right-of-use assets within accounts payable and accrued expenses and other liabilities
Receivables from stock option exercises included in prepaid and other current assets

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