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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating activities:    
Net loss $ (46,127) $ (33,311)
Non-cash adjustments reconciling net loss to operating cash flows:    
Depreciation of property and equipment 153 154
Amortization of premium on investments 320 439
Share-based compensation expense 7,912 4,822
Change in fair value of warrant liability 0 4,544
Restructuring costs 0 13
Changes in operating assets and liabilities:    
Other current assets 329 (493)
Other long-term assets (1,675) (440)
Accounts payable, accrued liabilities and other long-term liabilities 4,404 111
Cash flows used for operating activities (34,684) (24,161)
Investing activities:    
Purchases of property and equipment (296) (320)
Purchases of short-term investments (41,024) (8,968)
Disposal and maturities of short-term investments 35,280 23,593
Cash flows (used for) provided by investing activities (6,040) 14,305
Financing activities:    
Proceeds from sale of common stock, net 143,289 0
Proceeds from exercise of common stock options 472 536
Proceeds from stock issuances under employee stock purchase plan 251 0
Cash flows provided by financing activities 144,012 536
Increase (decrease) in cash and cash equivalents 103,288 (9,320)
Cash and cash equivalents, beginning of period 6,593 14,235
Cash and cash equivalents, end of period 109,881 4,915
Fixed asset additions included within accounts payable $ 0 $ 51