XML 25 R5.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net loss $ (9,782,428) $ (10,734,422)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 612,233 789,911
Stock-based compensation 1,948,727 2,122,513
Gain on sale of marketable securities (83,750)  
Loss on disposal of fixed assets 32,093 1,766
Write-down of fixed assets   62,807
Change in fair value of warrant liability (4,803,183) (3,956,719)
Changes in operating assets and liabilities:    
Other receivables (281,680) (10,016)
Trade receivables 42,834 260,139
Prepaid and other current assets (77,282) (134,510)
Other assets, non-current 3,187 (14,616)
Accounts payable and accrued expenses (896,382) (1,636,661)
Accrued wind-down expenses (530,553) (413,798)
Deferred revenue (30,807) (22,811)
Deferred rent 716,024 (59,756)
Net cash used in operating activities (13,130,967) (13,746,173)
Cash flows from investing activities:    
Purchase of marketable securities (9,725,332)  
Proceeds from the sale of marketable securities 758,206  
Purchases of property, plant and equipment (116,582) (509,064)
Proceeds from sale of property, plant and equipment 42,427  
Net cash used in investing activities (9,041,281) (509,064)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 9,524,758 7,015,322
Proceeds from the exercise of stock options 2,386 18,936
Payments related to net share issuance of stock based awards (394,096) (476,559)
Repayment of capital lease obligations (33,078) (36,530)
Repayment of bonds payable (85,000) (77,500)
Net cash provided by financing activities 9,014,970 6,443,669
Decrease in cash and cash equivalents (13,157,278) (7,811,568)
Effects of foreign exchange rate changes on cash (16,898) (40,905)
Cash and cash equivalents, beginning of period 19,707,821 38,617,977
Cash and cash equivalents, end of period 6,533,645 30,765,504
Supplemental disclosure of cash flow information:    
Interest paid $ 40,000 $ 50,554