Morphic Holding (MORF) annual cash flow statement covering fiscal 2018 through 2023, as reported to the SEC.
A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.
| Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||||||||||||
Net loss | |||||||||||||||||||||
-152,095 | -59,041 | -95,542 | -44,999 | -43,328 | -23,831 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net loss | -152,095 | -59,041 | -95,542 | -44,999 | -43,328 | -23,831 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Adjustments to reconcile net loss to net cash used in operating activities: | |||||||||||||||||||||
Depreciation and amortization | |||||||||||||||||||||
1,091 | 1,005 | 1,030 | 1,126 | 821 | 539 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Depreciation and amortization | 1,091 | 1,005 | 1,030 | 1,126 | 821 | 539 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Discount accretion and premium amortization on marketable securities | |||||||||||||||||||||
10,595 | -800 | -1,215 | -450 | 1,560 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Discount accretion and premium amortization on marketable securities | 10,595 | -800 | -1,215 | -450 | 1,560 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Equity‑based compensation | |||||||||||||||||||||
40,943 | 29,048 | 21,184 | 11,053 | 3,532 | 997 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Equity‑based compensation | 40,943 | 29,048 | 21,184 | 11,053 | 3,532 | 997 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loss on sale of marketable securities | |||||||||||||||||||||
- | -154 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loss on sale of marketable securities | - | -154 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loss on disposal of equipment | |||||||||||||||||||||
- | - | -4 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loss on disposal of equipment | - | - | -4 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-cash interest expense | |||||||||||||||||||||
- | - | - | - | - | 43 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-cash interest expense | - | - | - | - | - | 43 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loss on early debt extinguishment | |||||||||||||||||||||
- | - | - | - | - | -28 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loss on early debt extinguishment | - | - | - | - | - | -28 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Change in fair value of warrants | |||||||||||||||||||||
- | - | - | - | 93 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Change in fair value of warrants | - | - | - | - | 93 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other non-cash items | |||||||||||||||||||||
- | - | - | - | 22 | -1 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other non-cash items | - | - | - | - | 22 | -1 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Change in operating assets and liabilities: | |||||||||||||||||||||
Accounts receivable | |||||||||||||||||||||
-455 | -1,852 | -5,007 | 3,847 | 3,467 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable | -455 | -1,852 | -5,007 | 3,847 | 3,467 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Prepaid expenses and other current assets | |||||||||||||||||||||
-896 | 5,529 | 4,035 | 767 | 1,868 | 743 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Prepaid expenses and other current assets | -896 | 5,529 | 4,035 | 767 | 1,868 | 743 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other assets | |||||||||||||||||||||
-88 | 207 | -59 | -75 | 77 | 51 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other assets | -88 | 207 | -59 | -75 | 77 | 51 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating lease right-of-use assets | |||||||||||||||||||||
-1,381 | -1,292 | -1,098 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating lease right-of-use assets | -1,381 | -1,292 | -1,098 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts payable | |||||||||||||||||||||
3,725 | -1,553 | 970 | -1,071 | 3,164 | 862 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable | 3,725 | -1,553 | 970 | -1,071 | 3,164 | 862 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued expenses | |||||||||||||||||||||
3,763 | 60 | 1,467 | 3,521 | 3,389 | 1,888 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued expenses | 3,763 | 60 | 1,467 | 3,521 | 3,389 | 1,888 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred revenue | |||||||||||||||||||||
-470 | -67,647 | -14,821 | -11,466 | -2,239 | 96,643 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred revenue | -470 | -67,647 | -14,821 | -11,466 | -2,239 | 96,643 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred rent | |||||||||||||||||||||
- | - | - | -65 | -56 | -27 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred rent | - | - | - | -65 | -56 | -27 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating lease liability | |||||||||||||||||||||
-1,494 | -1,211 | -1,097 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating lease liability | -1,494 | -1,211 | -1,097 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other long-term liabilities | |||||||||||||||||||||
- | - | - | - | -33 | -12 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other long-term liabilities | - | - | - | - | -33 | -12 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash used in operating activities | |||||||||||||||||||||
-112,312 | -100,977 | -83,461 | -45,990 | -41,651 | 76,337 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash used in operating activities | -112,312 | -100,977 | -83,461 | -45,990 | -41,651 | 76,337 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from investing activities: | |||||||||||||||||||||
Purchases of marketable securities | |||||||||||||||||||||
764,029 | 238,274 | 244,160 | 145,275 | 296,328 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of marketable securities | 764,029 | 238,274 | 244,160 | 145,275 | 296,328 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from maturities of marketable securities | |||||||||||||||||||||
423,455 | 175,042 | 132,000 | 154,000 | 162,500 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from maturities of marketable securities | 423,455 | 175,042 | 132,000 | 154,000 | 162,500 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from sale of marketable securities | |||||||||||||||||||||
- | 7,146 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from sale of marketable securities | - | 7,146 | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchases of property and equipment | |||||||||||||||||||||
1,241 | 365 | 1,020 | 544 | 2,158 | 659 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of property and equipment | 1,241 | 365 | 1,020 | 544 | 2,158 | 659 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from disposal of lab equipment | |||||||||||||||||||||
- | - | - | - | - | 3 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from disposal of lab equipment | - | - | - | - | - | 3 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by (used in) investing activities | |||||||||||||||||||||
-341,815 | -56,451 | -113,180 | 8,181 | -135,986 | -656 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by (used in) investing activities | -341,815 | -56,451 | -113,180 | 8,181 | -135,986 | -656 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash flows from financing activities: | |||||||||||||||||||||
Proceeds from issuance of common shares and pre-funded warrants through the private placement | |||||||||||||||||||||
99,799 | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of common shares and pre-funded warrants through the private placement | 99,799 | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of Preferred Stock, net | |||||||||||||||||||||
- | - | - | - | - | 90,122 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of Preferred Stock, net | - | - | - | - | - | 90,122 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of common shares under Employee Stock Purchase Plan | |||||||||||||||||||||
993 | 885 | 1,095 | 1,112 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of common shares under Employee Stock Purchase Plan | 993 | 885 | 1,095 | 1,112 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Repayment of debt | |||||||||||||||||||||
- | - | - | - | - | -652 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Repayment of debt | - | - | - | - | - | -652 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Proceeds from issuance of common shares upon stock option exercises | |||||||||||||||||||||
9,031 | 5,171 | 9,536 | 3,532 | 27 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of common shares upon stock option exercises | 9,031 | 5,171 | 9,536 | 3,532 | 27 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net cash provided by financing activities | |||||||||||||||||||||
453,432 | 45,266 | 266,313 | 38,297 | 93,295 | 89,470 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net cash provided by financing activities | 453,432 | 45,266 | 266,313 | 38,297 | 93,295 | 89,470 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Net (decrease) increase in cash, cash equivalents and restricted cash | |||||||||||||||||||||
-695 | -112,162 | 69,672 | 488 | -84,342 | 165,151 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Net (decrease) increase in cash, cash equivalents and restricted cash | -695 | -112,162 | 69,672 | 488 | -84,342 | 165,151 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-cash activities: | |||||||||||||||||||||
Issuance costs included in accounts payable | |||||||||||||||||||||
- | - | - | 7 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Issuance costs included in accounts payable | - | - | - | 7 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Right-of-use assets obtained in exchange for operating lease liabilities | |||||||||||||||||||||
- | - | 4,434 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Right-of-use assets obtained in exchange for operating lease liabilities | - | - | 4,434 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Purchases of property and equipment included in accounts payable and accrued expenses | |||||||||||||||||||||
674 | 176 | - | 11 | 269 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Purchases of property and equipment included in accounts payable and accrued expenses | 674 | 176 | - | 11 | 269 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Amounts from exercise of stock options included in prepaid expenses and other current assets | |||||||||||||||||||||
- | 4 | - | - | 118 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Amounts from exercise of stock options included in prepaid expenses and other current assets | - | 4 | - | - | 118 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Unpaid issuance costs for the at-the-market and secondary offerings included in accounts payable and accrued expenses | |||||||||||||||||||||
- | - | - | - | 139,809 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Unpaid issuance costs for the at-the-market and secondary offerings included in accounts payable and accrued expenses | - | - | - | - | 139,809 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash paid for taxes | |||||||||||||||||||||
335 | 50 | 170 | 480 | 550 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash paid for taxes | 335 | 50 | 170 | 480 | 550 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash paid for interest | |||||||||||||||||||||
- | - | - | - | - | 68 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash paid for interest | - | - | - | - | - | 68 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
At-The-Market Offering | |||||||||||||||||||||
Offering costs | |||||||||||||||||||||
84,548 | 39,210 | 25,700 | 33,653 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Offering costs | 84,548 | 39,210 | 25,700 | 33,653 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Secondary Offering | |||||||||||||||||||||
Offering costs | |||||||||||||||||||||
259,061 | - | 229,982 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Offering costs | 259,061 | - | 229,982 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
ATM | |||||||||||||||||||||
Proceeds from issuance of Common Stock, net | |||||||||||||||||||||
- | - | - | - | 93,268 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Proceeds from issuance of Common Stock, net | - | - | - | - | 93,268 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||