SEC Filings

10-K
AUDENTES THERAPEUTICS, INC. filed this Form 10-K on 03/13/2017
Entire Document
 

Table of Contents

Cash Flows from Investing Activities

Cash used for investing activities was $62.0 million for the year ended December 31, 2016, primarily due to purchases of property and equipment of $16.7 million and purchases of marketable securities of $104.0 million, partially offset by the sale or maturity of marketable securities of $58.6 million. In addition, we transferred $0.1 million to restricted cash.

Cash used for investing activities was $8.9 million for the year ended December 31, 2015 and was primarily related to purchases of marketable securities for $40.1 million and purchases of property and equipment for $1.7 million, partially offset by the maturity or sale of investments of $32.8 million and cash received in the acquisition of Cardiogen of $0.1 million. In addition, we transferred $3.6 million to restricted cash.

Cash used in investing activities for the year ended December 31, 2014 was $16.7 million related to the purchase of marketable securities for $16.5 million and purchases of property and equipment for $0.1 million.

Cash Flows from Financing Activities

Cash provided by financing activities for the year ended December 31, 2016 was $75.4 million. The inflow was related to net proceeds from our IPO of $75.2 million and proceeds from the exercise of stock options of $0.2 million.

Cash provided by financing activities during the year ended December 31, 2015 was $62.9 million. The inflow was related to net proceeds from the issuance of convertible preferred stock of $62.8 million and proceeds from the exercise of stock options of $0.1 million.

Cash provided by financing activities for the year ended December 31, 2014 was primarily related to net proceeds from the issuance of convertible preferred stock of $57.4 million.

Contractual Obligations and Other Commitments

The following table summarizes our contractual obligations as of December 31, 2016:

 

 

 

Payments Due by Period

 

 

 

Less than

1 year

 

 

2 years

 

 

3 years

 

 

4 years

 

 

5 years

 

 

More than

5 years

 

 

Total

 

 

 

(in thousands)

 

Operating lease obligations

 

$

2,831

 

 

$

2,928

 

 

$

2,983

 

 

$

3,071

 

 

$

3,162

 

 

$

7,747

 

 

$

22,722

 

Total contractual obligations

 

$

2,831

 

 

$

2,928

 

 

$

2,983

 

 

$

3,071

 

 

$

3,162

 

 

$

7,747

 

 

$

22,722

 

 

Lease Agreements

In September 2015, we entered into a lease agreement for approximately 22,000 square feet of office space in San Francisco, California, which serves as our corporate headquarters. The initial term commenced in February 2016 and expires in June 2022. In November 2016, we entered into an amendment to this lease agreement which provided us with approximately 8,000 additional square feet and extended the term of the lease for an additional 12 months, through to June 2023. The total minimum lease payments due for this lease aggregate $15.0 million.

In July 2015, we entered into a sub-lease agreement for approximately 22,000 square feet of manufacturing space in South San Francisco, California for an initial term that expires in May 2017 with total minimum lease payments due of $0.9 million. In November 2015, we purchased an option that we subsequently exercised in May 2016 to enter into a ten-year lease for the existing 22,000 square feet plus approximately 17,000 additional square feet of manufacturing space, which will become effective in June 2017. The total minimum lease payments due for this extension aggregate $7.3 million.

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