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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (8,568,156) $ (7,414,426)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Amortization of deferred revenue (1,479,453) (3,653,330)
Depreciation 733,597 944,798
Amortization of intangibles 19,539 847,536
Amortization of premium and discount on investments, net (166,491) (80,168)
Stock-based employee compensation 2,150,898 1,191,701
Stock-based non-employee compensation 1,934 43,308
Non-cash expense under a materials agreement 9,181 557,223
Stock-based compensation to Board of Directors and Scientific Advisory Board 718,117 384,665
Loss on stock warrant liability 4,429,845 1,869,185
Retirement plan benefit expense 763,436 342,081
Decrease (increase) in assets:    
Accounts receivable 706,641 (541,125)
Other current assets (853,695) (44,828)
Other assets (106,706) (43,656)
Increase in liabilities:    
Accounts payable and accrued expenses 1,836,456 1,464,055
Deferred revenue 1,645,000 1,375,000
Net cash provided by (used in) operating activities 1,840,143 (2,757,981)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (1,510,331) (144,376)
Purchase of intangibles (439,644)   
Purchase of short-term investments (253,903,705) (51,910,640)
Proceeds from sale of short-term investments 45,499,654 38,784,983
Net cash used in investing activities (210,354,026) (13,270,033)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the issuance of common stock 249,821,785 129,650
Proceeds from the exercise of common stock options and warrants 7,542,784 6,083,944
Payment of withholding taxes related to stock-based employee compensation (3,979,473) (1,132,421)
Net cash provided by financing activities 253,385,096 5,081,173
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 44,871,213 (10,946,841)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 20,368,852 22,701,126
CASH AND CASH EQUIVALENTS, END OF PERIOD 65,240,065 11,754,285
The following non-cash activities occurred:    
Unrealized loss on available-for-sale securities 206,361 40,141
Common stock issued to Board of Directors and Scientific Advisory Board that was earned in a previous period 299,943 314,181
Common stock issued to employees that was accrued for in a previous period, net of shares withheld for taxes 1,113,483 929,552
Common stock issued for royalties that was earned in a previous period    81,273
Fair value of stock warrant liability reclassified to shareholders' equity upon exercise $ 10,501,422