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S-1
VITAE PHARMACEUTICALS, INC filed this Form S-1 on 08/12/2014
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Table of Contents


Vitae Pharmaceuticals, Inc.

Statements of Cash Flows

 
  Year Ended December 31,  
 
  2013   2012  

Operating activities:

             

Net income

  $ 1,161,898   $ 223,086  

Adjustment to reconcile net income to net cash provided by (used in) operating activities:

             

Depreciation

    204,733     531,589  

Stock-based compensation expense

    99,853     280,210  

Deferred rent and lease incentives

    (4,584 )   (119,580 )

Amortization of deferred financing fees

    218,834     218,834  

Revaluation of preferred stock warrant liability

    (243,000 )   (243,000 )

(Gain) loss on disposal of equipment

    (5,934 )    

Changes in assets and liabilities:

             

Accounts receivable

    8,740,000     (8,669,708 )

Prepaid expenses and other current assets

    (78,219 )   462,146  

Accounts payable and accrued expenses

    939,500     (510,260 )

Deferred revenue

    1,056,307     (2,201,307 )

Interest payable

    46,062     190,625  
           

Net cash provided by (used in) operating activities

    12,135,450     (9,837,365 )
           

Investing activities:

             

Purchases of property and equipment

    (185,890 )   (128,831 )

Proceeds from disposal of property and equipment

    6,700      

Purchases of investments

    (23,009,180 )   (32,553,054 )

Sales of investments

    28,860,000     29,163,250  
           

Net cash provided by (used in) investing activities

    5,671,630     (3,518,635 )
           

Financing activities:

             

Principal payments under debt facilities

    (4,601,738 )    

Payment of financing costs

        (30,808 )

Restricted cash

    250,000     50,000  

Proceeds from the issuance of common stock, net of repurchases

    70,762     13,357  
           

Net cash (used in) provided by financing activities

    (4,280,976 )   32,549  
           

Net increase (decrease) in cash and cash equivalents

    13,526,104     (13,323,451 )

Cash and cash equivalents at beginning of period

    7,629,143     20,952,594  
           

Cash and cash equivalents at end of period

  $ 21,155,247   $ 7,629,143  
           
           

Supplemental disclosures of cash flow information:

             

Cash paid for interest

  $ 1,160,446   $ 1,217,163  
           
           

   

The accompanying notes are an integral part of these financial statements.

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