Company: VERA
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029969
Chunk: 131

Company: Vera Therapeutics, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 131
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 to $160.7 million as of December 31, 2023. We believe, based on our current operating plan, that our cash, cash equivalents and marketable securities as of December 31, 2024 will be sufficient to fund our planned operations and capital expenditure requirements for at least 12 months from the date of this Annual Report.

Cash Flows 

The following table summarizes our cash flows for the periods indicated. 

    Year Ended December 31,

    (dollars in thousands)
     
    2024

    2023

    Net cash used in operating activities
     
    $
    (134,679
    )
     
    $
    (92,181
    )

    Net cash used in investing activities

    (425,029
    )

    (39,431
    )

    Net cash provided by financing activities

    606,673

    133,541

    Net increase in cash and cash equivalents
     
    $
    46,965

    $
    1,929

Operating Activities 

For the year ended December 31, 2024, we used $134.7 million of cash in operating activities, attributable to a net loss of $152.1 million, partially offset by non-cash charges of $14.8 million and a decrease in our net operating assets and liabilities of $2.7 million. Non-cash charges primarily consisted of $20.8 million of stock-based compensation, non-cash interest income of $9.0 million related to amortization of discount on purchases of marketable securities, and a $2.1 million reduction in the carrying amount of operating lease right-of-use assets. The change in our net operating assets and liabilities was primarily due to an increase of $7.2 million in accrued and other current liabilities, a decrease of $3.5 million in accounts payable, and a decrease of $2.4 million in operating lease liabilities.

For the year ended December 31, 2023, we used $92.2 million of cash in operating activities, attributable to a net loss of $96.0 million and a decrease in our net operating assets and liabilities of $5.8 million, partially offset by non-cash charges of $9.6 million. 

96

Non-cash charges primarily consisted of $11.5 million of non-cash stock based compensation expense, non-cash interest income of $4.4 million related to amortization of discount on purchases