XML 17 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows From Operating Activities:    
Net loss $ (98,497) $ (61,057)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 79 67
Amortization of deferred transaction costs 4,406 2,516
Stock-based compensation expense 3,909 7,794
Accretion of discount/premium on available for sale securities 0 (87)
Change in fair value of derivative instruments—warrants (237) 1,810
Common stock issued for interest on Notes 2,445 0
Debt conversion expense 25,615 0
Transaction fees on Note conversions (434) 0
Changes in operating assets and liabilities:    
Security deposit 0 (56)
Accounts payable and accrued expenses 4,546 (1,294)
Prepaid expenses and other current assets (961) 1,549
Accrued interest expense on Senior Convertible Debentures (998) (277)
Total Adjustments 38,370 12,022
Net Cash used in Operating Activities (60,127) (49,035)
Cash Flows From Investing Activities:    
Net sales (purchases) of available-for-sale securities 50,097 (50,000)
Additions to property and equipment (272) (8)
Net Cash provided by (used in) Investing Activities 49,825 (50,008)
Cash Flows From Financing Activities:    
Proceeds of sale of common stock 89,845 14,672
Fees and expenses — sale of common stock 0 (404)
Proceeds from exercise of stock options 23 0
Net Cash provided by Financing Activities 89,868 14,268
Net increase (decrease) in cash and cash equivalents 79,566 (84,775)
Cash and cash equivalents at beginning of period 61,653 146,470
Cash and cash equivalents at end of period 141,219 61,695
Supplementary disclosure of cash flow information:    
Cash paid for taxes 45 224
Supplementary disclosure of non-cash investing and financing activities:    
Conversion of Senior Convertible Debentures to Synergy Common Stock $ 82,274 $ 22,213