XML 46 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended 67 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Cash flows from operating activities      
Net loss $ (28,026) $ (7,674) $ (82,870)
Adjustments to reconcile net loss to net cash used in operating activities      
Depreciation and amortization 18 11 111
Loss on sale of assets 4   13
Reserve for uncollectible receivables     54
Stock-based compensation expense 1,493 88 2,041
Amortization of debt discount   121 666
Non-cash interest expense     195
Non-cash research and development expense     1
Remeasurement of convertible preferred stock call option liability 9,560 (612) 7,464
Remeasurement of convertible preferred stock warrant liability 2,279   2,239
Changes in assets and liabilities      
Accounts receivable   (120)  
Prepaid expenses and other assets (4,026) 1,172 (5,345)
Accounts payable 781 (190) 1,096
Accrued liabilities and other liabilities 423 32 4,090
Net cash used in operating activities (17,494) (7,172) (70,245)
Cash flows from investing activities      
Proceeds from sale of property and equipment     10
Purchase of property and equipment (483) (9) (668)
Security deposit for facility lease     (55)
Change in restricted cash     (75)
Net cash used in investing activities (483) (9) (788)
Cash flows from financing activities      
Proceeds from issuance of common stock in initial public offering, net of issuance costs 132,095   132,095
Proceeds from sale of option for Series A preferred stock purchase rights     1,000
Proceeds from issuance of convertible preferred stock, net of issuance costs 64,793 7,703 120,113
Proceeds from exercise of convertible preferred stock warrants 570   1,470
Proceeds from exercise of common stock options 4 27 53
Proceeds from issuance of convertible notes payable     9,000
Net cash provided by financing activities 197,462 7,730 263,731
Net increase in cash and cash equivalents 179,485 549 192,698
Cash and cash equivalents at beginning of period 13,288 329  
Cash and cash equivalents at end of period 192,773 878 192,773
Supplemental disclosure      
Cash paid for interest     2
Supplemental disclosure of noncash items      
Conversion of notes payable and accrued interest to preferred stock   4,588 9,195
Issuance of warrants for preferred stock in connection with convertible notes     666
Accretion of Series A convertible preferred stock to redemption value     11,002
Issuance of call options related to convertible preferred stock   990 3,504
Extinguishment of Series A convertible preferred stock     12,100
Initial public offering issuance costs 230   230
Conversion of preferred stock call option liability [Member]
     
Supplemental disclosure of noncash items      
Conversion of liability to additional paid in capital 9,581   9,581
Conversion of preferred stock warrant liability [Member]
     
Supplemental disclosure of noncash items      
Conversion of liability to additional paid in capital 2,752   2,752
Conversion of preferred stock to common stock [Member]
     
Supplemental disclosure of noncash items      
Conversion of liability to additional paid in capital $ 122,290   $ 122,290