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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended 134 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
Operating activities      
Net loss $ (17,458) $ (13,137) $ (336,347)
Adjustments to reconcile net loss to net cash used in operating activities:      
Non-cash interest expense     525
Depreciation and amortization 439 420 12,207
Amortization of non-cash compensation     522
Stock-based compensation - employees 1,574 1,388 43,503
Stock-based compensation - non-employees     853
Stock-based license payments     1,220
Change in fair value of warrant liability 262 2,376 (1,291)
Loss on disposal of asset   27 388
Impairment of leasehold improvements     1,030
Non-cash charge for in-process research and development     418
Beneficial conversion feature related to bridge financing     135
Changes in operating assets and liabilities:      
Receivable from GSK 1,917 742 (1,308)
Prepaid expenses and other current assets 517 3,114 (1,753)
Other non-current assets   267 (466)
Accounts payable and accrued expenses (2,418) (1,259) 6,427
Deferred reimbursements 1,267 (1,977) 31,685
Net cash used in operating activities (13,900) (8,039) (242,252)
Investing activities      
Sale and redemption of marketable securities 34,135 14,300 789,577
Purchases of marketable securities (26,998) (67,906) (847,693)
Purchases of property and equipment (372) (3,082) (18,585)
Net cash (used in)/provided by investing activities 6,765 (56,688) (76,701)
Financing activities      
Proceeds from the issuance of preferred stock, net of issuance costs     143,022
Proceeds from the issuance of common stock and warrants, net of issuance costs   62,063 193,441
Proceeds from the issuance of convertible notes     5,000
Payments of capital lease obligations     (5,587)
Payments of secured loan agreement (100) (313) (4,156)
Proceeds from exercise of stock options   837 3,341
Proceeds from exercise of warrants (common and preferred)     264
Proceeds from capital asset financing arrangement     5,611
Proceeds from secured loan agreement   995 4,753
Net cash provided by/(used in) financing activities (100) 63,582 345,689
Net (decrease)/increase in cash and cash equivalents (7,235) (1,145) 26,736
Cash and cash equivalents at beginning of period 33,971 25,668  
Cash and cash equivalents at end of period 26,736 24,523 26,736
Supplemental disclosures of cash flow information      
Cash paid during the period for interest 7 20 2,124
Non-cash activities      
Conversion of warrants to common stock     386
Conversion of notes payable to Series B redeemable convertible preferred stock     5,000
Conversion of preferred stock to common stock     148,951
Accretion of redeemable convertible preferred stock     802
Beneficial conversion feature related to the issuance of Series C redeemable convertible preferred stock     $ 19,424