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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities    
Net loss $ (25,226) $ (24,084)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation of property and equipment 173 259
Stock-based compensation 4,641 4,752
Noncash interest expense, net (124) 625
Changes in assets and liabilities:    
Accounts receivable (175)  
Prepaids and other current assets (400) 72
Other assets (70)  
Accounts payable (162) 280
Deferred revenue 75,380  
Other liabilities 1,878 (3,241)
Net cash provided by (used in) operating activities 55,915 (21,337)
Investing activities    
Purchases of property and equipment, net (82) (118)
Purchases of investments (95,907) (18,351)
Maturities of investments 41,688 29,700
Sales of investments 0 4,051
Net cash provided by (used in) investing activities (54,301) 15,282
Financing activities    
Proceeds from issuance of common stock 7,000  
Proceeds from exercise of stock options and employee stock purchase plan 488 1,550
Net cash provided by financing activities 7,488 1,550
Net increase (decrease) in cash and cash equivalents 9,102 (4,505)
Cash and cash equivalents at beginning of period 12,823 16,075
Cash and cash equivalents at end of period $ 21,925 $ 11,570