XML 25 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash Flows From Operating Activities:    
Net loss $ (27,389)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ (16,225)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 34us-gaap_DepreciationDepletionAndAmortization 28us-gaap_DepreciationDepletionAndAmortization
Amortization of deferred financing costs 617us-gaap_AmortizationOfFinancingCosts  
Stock-based compensation expense 2,405us-gaap_ShareBasedCompensation 1,264us-gaap_ShareBasedCompensation
Accretion of discount/premium on available for sale securities (13)us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 24us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments
Change in fair value of derivative instruments-warrants 268us-gaap_UnrealizedGainLossOnDerivatives (223)us-gaap_UnrealizedGainLossOnDerivatives
Changes in operating assets and liabilities:    
Security deposit (56)us-gaap_IncreaseDecreaseInSecurityDeposits  
Distribution of non-cash item - ContraVir net assets   84sgyp_DistributionOfNonCashItems
Accounts payable and accrued expenses (2,952)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (3,011)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Prepaid expenses and other current assets 187us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (1,860)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Accrued interest expense on Senior Convertible Debentures 3,750us-gaap_IncreaseDecreaseInInterestPayableNet  
Total Adjustments 4,240us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities (3,694)us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
Net Cash used in Operating Activities (23,149)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (19,919)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash Flows From Investing Activities:    
Net purchases of available-for-sale securities (50,000)us-gaap_PaymentsForProceedsFromInvestments  
Additions to property and equipment (8)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (28)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Repayment on ContraVir loan receivable   455us-gaap_ProceedsFromCollectionOfNotesReceivable
Net Cash (used in) / provided by Investing Activities (50,008)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations 427us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash Flows From Financing Activities:    
Proceeds of sale of common stock 5,558us-gaap_ProceedsFromIssuanceOfCommonStock 22,606us-gaap_ProceedsFromIssuanceOfCommonStock
Proceeds of sale of common stock - ContraVir   3,224us-gaap_ProceedsFromIssuanceOfPrivatePlacement
Fees and expenses - sale of common stock (153)us-gaap_PaymentsOfStockIssuanceCosts (639)us-gaap_PaymentsOfStockIssuanceCosts
Proceeds from exercise of stock options   36us-gaap_ProceedsFromStockOptionsExercised
Distribution associated with ContraVir Spinoff   (3,230)sgyp_DistributionSpinoffTransaction
Net Cash provided by Financing Activities 5,405us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 21,997us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net (decrease) / increase in cash and cash equivalents (67,752)us-gaap_NetCashProvidedByUsedInContinuingOperations 2,505us-gaap_NetCashProvidedByUsedInContinuingOperations
Cash and cash equivalents at beginning of period 146,470us-gaap_CashAndCashEquivalentsAtCarryingValue 18,130us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period 78,718us-gaap_CashAndCashEquivalentsAtCarryingValue 20,635us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplementary disclosure of cash flow information:    
Cash paid for taxes 122us-gaap_IncomeTaxesPaid 30us-gaap_IncomeTaxesPaid
Supplementary disclosure of non-cash investing and financing activities:    
Distribution of net assets of ContraVir   $ 84sgyp_NonCashInvestingAndFinancingActivitiesDistributionOfNetAssets