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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Operating activities    
Net loss $ (30,557) $ (32,807)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash interest expense 115  
Depreciation and amortization 808 889
Stock-based compensation 2,748 3,157
Restructuring charges (89)  
Change in fair value of warrant liability   (357)
Non-cash changes in the fair value of contingent consideration payable 200  
Changes in operating assets and liabilities:    
Receivable due from collaboration agreements 607 2,201
Prepaid expenses and other current assets 4,245 292
Other non-current assets 25  
Accounts payable and accrued expenses (155) 173
Non-current liabilities 14  
Deferred reimbursements   2,291
Net cash used in operating activities (22,039) (24,161)
Investing activities    
Sale and redemption of marketable securities 31,114 42,434
Purchases of marketable securities (28,849) (27,994)
Purchases of property and equipment (132) (575)
Net cash provided by investing activities 2,133 13,865
Financing activities    
Proceeds from issuance of common stock, net of issuance costs 18,344  
Payments of secured loan agreement (199) (199)
Proceeds from exercise of stock options 25  
Net cash (used in)/provided by financing activities 18,170 (199)
Net decrease in cash and cash equivalents (1,736) (10,495)
Cash and cash equivalents at beginning of period 43,640 33,971
Cash and cash equivalents at end of period 41,904 23,476
Supplemental disclosures of cash flow information    
Cash paid during the period for interest $ 537 $ 16