|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
|
|---|---|---|
| Cash flows from operating activities | ||
| Net loss | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | ||
| Net accretion of discounts on marketable securities | ||
| Depreciation and amortization | ||
| Non-cash lease expense | ||
| Loss on disposal of fixed assets | ||
| Change in fair value of derivative liability | ||
| Gain on bargain purchase in connection with the ACELYRIN Merger | ||
| Impairment of long-lived assets | ||
| Changes in operating assets and liabilities: | ||
| Research and development prepaid expenses | ||
| Other prepaid expenses and other assets | ||
| Other assets, non-current | ||
| Accounts payable | ||
| Deferred revenue | ||
| Research and development accrued expenses | ||
| Other accrued expenses and current liabilities | ||
| Operating lease liabilities | ||
| Other liabilities, non-current | ||
| Deferred income tax liability | ||
| Net cash used in operating activities | ||
| Cash flows from investing activities | ||
| Maturities of marketable securities | ||
| Purchases of marketable securities | ||
| Purchases of property and equipment | ||
| Cash, cash equivalents and restricted cash acquired in connection with the ACELYRIN Merger | ||
| Net cash provided by (used in) investing activities | ||
| Cash flows from financing activities | ||
| Proceeds from issuance of redeemable convertible preferred stock and derivative liability, net of issuance costs | ||
| Proceeds from initial public offering, net of underwriter discounts and commissions and other offering costs | ||
| Proceeds from a private placement transaction | ||
| Proceeds from issuance of common stock upon exercise of stock options | ||
| Repurchase of common stock shares issued upon early exercised restricted common stock | ||
| Proceeds from issuance of common stock under the 2024 ESPP | ||
| Net cash provided by financing activities | ||
| Net (decrease) increase 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 | ||
| Supplemental disclosures: | ||
| Conversion of 168,489,871 shares of redeemable convertible preferred stock upon the closing of initial public offering | ||
| Equity consideration transferred in connection with the ACELYRIN Merger | ||
| Vesting of early exercised stock options and unvested restricted shares of common stock | ||
| Right-of-use assets obtained in exchange for operating lease liabilities | ||
| Recognition of derivative liability upon issuance of redeemable convertible preferred stock | ||
| Settlement of derivative liability upon issuance of redeemable convertible preferred stock | ||
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents | ||
| Restricted cash | ||
| Restricted cash, non-current |
Loading...
