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Condensed Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities    
Net loss $ (42,296) $ (35,522)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization expense 928 798
Loss from valuation of convertible note payable 0 1,811
Stock-based compensation 5,986 8,972
Amortization of premium on investments, net 359 801
Other 45 56
Change in operating assets and liabilities:    
Contracts and other receivables 9,878 (50)
Prepaid expenses 594 826
Other assets 270 20
Accounts payable 787 130
Accrued liabilities (1,063) 2,459
Accrued compensation (529) 167
Deferred revenue (972) (1,323)
Deferred rent and other liabilities (262) (160)
Net cash used in operating activities (26,275) (21,015)
Investing activities    
Purchases of short-term investments (30,231) (46,281)
Sales and maturities of short-term investments 47,522 49,645
Purchases of property and equipment (266) (410)
Acquisition of intangibles (34) (19)
Net cash provided by investing activities 16,991 2,935
Financing activities    
Proceeds from borrowing under term loan, net 19,819 0
Proceeds from issuance of common stock, net 363 257
Proceeds from exercise of common stock options 265 1,655
Principal payments on other long-term obligations (83) (75)
Net cash provided by financing activities 20,364 1,837
Net increase (decrease) in cash and cash equivalents 11,080 (16,243)
Cash and cash equivalents at beginning of period 15,960 37,327
Cash and cash equivalents at end of period 27,040 21,084
Supplemental disclosure of cash flow information    
Net changes in restricted cash (794) 0
Interest paid (54) (15)
Income taxes paid (1) (1)
Supplemental disclosure of non-cash investing and financing activities    
Allowance for tenant improvements 6,545 0
Amounts accrued for property and equipment 221 90
Amounts accrued for patent expenditures 7 0
Unpaid debt issuance costs $ 38 $ 0