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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash Flows From Operating Activities:      
Net loss $ (198,607) $ (117,500) $ (95,708)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 233 163 120
Amortization of deferred debt costs 6,921 4,566 411
Stock-based compensation expense 12,575 9,724 4,722
Value of common stock issued for patent license 0 67 0
Accretion of discount/premium on available for sale securities 0 (109) 130
Change in fair value of derivative instruments—warrants (106) 394 (1,362)
Common stock issued for interest on Notes 2,445 0 0
Debt conversion expense 40,158 0 0
Changes in operating assets and liabilities:      
Inventories (5,640) 0 0
Security deposits 0 (180) (69)
Accounts payable and accrued expenses 11,546 1,867 316
Prepaid expenses and other current assets 2,416 531 (124)
Accrued interest expense on senior convertible notes (1,694) (512) 2,500
Total Adjustments 68,854 16,511 6,644
Net Cash used in Operating Activities (129,753) (100,989) (89,064)
Cash Flows From Investing Activities:      
Net sales (purchases) of available-for-sale securities 50,097 (200) 0
Additions to property and equipment (297) (50) (173)
Repayment on ContraVir loan receivable 0 0 455
Net Cash provided by (used in) Investing Activities 49,800 (250) 282
Cash Flows From Financing Activities:      
Proceeds of sale of common stock 89,845 14,672 30,700
Proceeds of sale of common stock — ContraVir 0 0 3,224
Issuance of Senior Convertible Debentures 0 0 200,000
Fees and expenses — note conversions (711) 0 0
Payment for debt financing costs 0 0 (12,747)
Fees and expenses — sale of common stock 0 (404) (861)
Proceeds from exercise of warrants 11,331 1,012 0
Proceeds from exercise of stock options 222 1,142 36
Distribution associated with ContraVir Spinoff 0 0 (3,230)
Net Cash provided by Financing Activities 100,687 16,422 217,122
Net increase (decrease) in cash and cash equivalents 20,734 (84,817) 128,340
Cash and cash equivalents at beginning of period 61,653 146,470 18,130
Cash and cash equivalents at end of period 82,387 61,653 146,470
Supplementary disclosure of cash flow information:      
Cash paid for interest on senior convertible notes 5,939 13,379 0
Cash paid for taxes 45 258 55
Supplementary disclosure of non-cash investing and financing activities:      
Distribution of net assets of ContraVir 0 84
Conversion of senior convertible notes to Synergy Common Stock $ 137,941 $ 40,989 $ 0