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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities:    
Net loss $ (14,709) $ (17,846)
Non-cash adjustments reconciling net loss to operating cash flows:    
Depreciation 41 45
Amortization of premium on investments (162) (71)
Share-based compensation expense 3,660 1,766
Changes in operating assets and liabilities:    
Other current assets 502 704
Other long-term assets 25 (710)
Accounts payable, accrued liabilities, deferred revenue and other liabilities 2,745 (3,540)
Cash flows used in operating activities (7,948) (18,232)
Investing activities:    
Purchases of short-term investments (102,820) (63,310)
Disposal and maturities of short-term investments 17,742 22,100
Cash flows used in investing activities (85,078) (41,210)
Financing activities:    
Proceeds from sale of common stock, net 0 66,816
Proceeds from exercise of common stock options and warrants 5,890 0
Cash flows provided by financing activities 5,890 66,816
Decrease in cash and cash equivalents (87,136) 7,374
Cash and cash equivalents, beginning of period 107,703 22,383
Cash and cash equivalents, end of period 20,567 29,757
Supplemental disclosures of non-cash investing activities:    
Fixed asset additions included within accounts payable $ 0 $ 54