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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities      
Net loss $ (55,868) $ (38,755) $ (43,337)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 1,699 1,415 745
Stock-based compensation 6,730 5,153 3,268
Changes in valuation of warrant liability (3,566) (7,708) 15,099
Non-cash interest expense (income) 508 131 (25)
Non-cash deferred manufacturing and development expense 434    
Deferred income taxes 7 26 27
Loss on disposal of fixed assets   3 56
Tax benefit from other unrealized gain on available-for-sale securities (3,825)    
Changes in operating assets and liabilities:      
Accounts receivable (301) 632 (1,681)
Inventories 3,991 3,033 (1,813)
Other assets 1,379 (1,655) 286
Accounts payable (3,866) (973) (1,512)
Accrued liabilities 1,359 (1,382) 2,121
Deferred revenue 190 269 104
Net cash used in operating activities (51,129) (39,811) (26,662)
Investing activities      
Capital expenditures (722) (2,106) (663)
Purchases of investments (90,407) (25,981) (30,146)
Proceeds from maturities of investments 92,645 24,915 1,631
Restricted cash (104) (175) (14)
Net cash provided by (used in) investing activities 1,412 (3,347) (29,192)
Financing activities      
Net proceeds from exercise/purchase of equity incentives and warrants 12,767 11,592 1,684
Net proceeds from public offering 75,300 18,488 61,425
Proceeds from debt, net of discount 10,000 9,848 3,102
Repayment of debt (113) (3,474) (7,568)
Net cash provided by financing activities 97,954 36,454 58,643
Net increase (decrease) in cash and cash equivalents 48,237 (6,704) 2,789
Cash and cash equivalents, beginning of year 22,781 29,485 26,696
Cash and cash equivalents, end of year 71,018 22,781 29,485
Supplemental disclosures:      
Cash paid for interest 1,087 563 294
Cash paid for income taxes 153 $ 177 146
Non-cash settlement of warranty claim     $ 1,272
Unpaid manufacturing and development obligation $ 7,051