XML 44 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended 98 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
Cash Flows From Operating Activities:        
Net loss $ (62,124) $ (39,444) $ (14,467) $ (171,177)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation 56 2 2 66
Loss on disposal of property and equipment   2   2
Stock-based compensation expense 4,614 2,515 822 10,098
Accretion of discount/premium on investment securities 59 (86)   (27)
Purchased in-process research and development       28,157
Change in fair value of derivative instruments-warrants (149) 1,933 (5,257) (3,770)
Changes in operating assets and liabilities:        
Security deposit   (5)   (20)
Accounts payable and accrued expenses 7,084 4,442 (2,265) 13,551
Prepaid expenses and other current assets (2,171) (484) (66) (3,718)
Total Adjustments 9,493 8,319 (6,764) 44,339
Net Cash used in Operating Activities (52,631) (31,125) (21,231) (126,838)
Cash Flows From Investing Activities:        
Net cash paid on Exchange Transaction       (155)
Loans to related parties (270) (1,764) 133 (3,576)
Purchases of available-for-sale securities (30,000) (20,000)   (50,000)
Additions to property and equipment (615) (28)   (657)
Net Cash (used in) /provided by Investing Activities (30,885) (21,792) 133 (54,388)
Cash Flows From Financing Activities:        
Proceeds of sale of common stock 94,734 55,862 34,369 211,168
Fees and expenses related to sale of common stock (5,623) (3,774) (2,148) (12,346)
Proceeds from exercise of warrants     415 415
Proceeds from exercise of stock options 119     119
Net Cash provided by Financing Activities 89,230 52,088 32,636 199,356
Net increase (decrease) in cash and cash equivalents 5,714 (829) 11,538 18,130
Cash and cash equivalents at beginning of period 12,416 13,245 1,707  
Cash and cash equivalents at end of period 18,130 12,416 13,245 18,130
Supplementary disclosure of cash flow information:        
Cash paid for taxes 81 50 38 221
Supplementary disclosure of non-cash investing and financing activities:        
Value of warrants classified to derivative liability-net (3,575)   5,094 5,304
Value of common stock issued to induce stockholders to extend lock-up agreements       3,235
Recapitalization of Synergy $ 4,904     $ 4,904