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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash Flows from Operating Activities:    
Net Loss $ (34,673) $ (30,174)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Depreciation and Amortization 742 672
Amortization of Intangible Assets 253 253
Amortization and Premium of Marketable Securities, Net 529 (1,219)
Loss on Sale or Disposal of Assets 70  
Stock-Based Compensation Expense 3,940 2,281
Non-Cash Expense 1,638 72
Changes in Operating Assets and Liabilities:    
Accounts and Other Receivables 123 (252)
Prepaid and Other Current Assets (1,741) (38)
Other Assets   (166)
Accounts Payable and Accrued Expenses (4,957) (3,220)
Other Liabilities (826) (798)
Net Cash Used in Operating Activities (34,902) (32,589)
Cash Flows from Investing Activities:    
Sales and Maturities of Marketable Securities 74,939 57,067
Purchases of Marketable Securities (48,860) (120,541)
Acquisition of Property and Equipment (540) (1,561)
Net Cash Provided by (Used in) Investing Activities 25,539 (65,035)
Cash Flows from Financing Activities:    
Net Proceeds from Stock Issuances   188,774
Proceeds from Issuance of Stock from Employee Benefit Plans 280 2,985
Net Cash Provided by Financing Activities 280 191,759
Effect of Exchange Rate Changes on Cash and Cash Equivalents   15
Net (Decrease) Increase in Cash and Cash Equivalents (9,083) 94,150
Cash and Cash Equivalents at Beginning of Period 72,108 28,020
Cash and Cash Equivalents at End of Period 63,025 122,170
Non-cash Investing Activities    
Acquisition of Property and Equipment included in Accounts Payable and Accrued Expenses $ 278 $ 839