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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities    
Net loss $ (35,029) $ (25,432)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 964 835
Stock-based compensation 3,862 3,179
Changes in valuation of warrant liability   (3,589)
Non-cash interest expense 603 139
Deferred income taxes 18 7
Non-cash tax expense (benefit) from other unrealized loss on available-for-sale securities 1,702 (2,085)
Changes in operating assets and liabilities:    
Accounts receivable 645 69
Inventories (1,318) 1,112
Other assets 435 739
Accounts payable 1,902 (4,176)
Accrued liabilities (458) (1,538)
Manufacturing and development obligations (1,082)  
Deferred revenue 189 256
Net cash used in operating activities (27,567) (30,484)
Investing activities    
Capital expenditures (118) (325)
Purchases of investments (70,560) (69,983)
Proceeds from maturities of investments 19,500 22,444
Restricted cash 37 (114)
Net cash used in investing activities (51,141) (47,978)
Financing activities    
Net proceeds from equity incentives and warrants 907 5,472
Net proceeds from public offering 14,547 75,324
Proceeds from loans   10,000
Repayment of debt (60) (56)
Net cash provided by financing activities 15,394 90,740
Net (decrease) increase in cash and cash equivalents (63,314) 12,278
Cash and cash equivalents, beginning of period 71,018 22,781
Cash and cash equivalents, end of period $ 7,704 $ 35,059