Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net loss $ (14,716) $ (19,460)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 305 503
(Gain) loss on sale of investments, property and equipment (51) 14
Stock-based compensation expense 1,645 3,316
Change in common stock warrant fair value 626 974
Changes in operating assets and liabilities:    
Collaboration receivable 970 3,601
Prepaid expenses and other assets 1,305 (773)
Accounts payable 2,351 (1,439)
Accrued clinical and development expenses (4,737) 1,722
Accrued liabilities (2,653) (729)
Deferred rent (44) (74)
Deferred revenue   (7,361)
Net cash used in operating activities (14,999) (19,706)
Cash flows from investing activities:    
Acquisition of property and equipment   (55)
Purchases of marketable securities (13,454) (39,479)
Proceeds from sale of property and equipment 61  
Proceeds from sale of marketable securities   1,997
Proceeds from maturities of marketable securities 31,192 30,907
Net cash (used in) provided by investing activities 17,799 (6,630)
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants, net of offering expenses 13 28,514
Net cash provided by financing activities 13 28,514
Net increase (decrease) in cash and cash equivalents 2,813 2,178
Cash and cash equivalents, beginning of period 9,589 8,391
Cash and cash equivalents, end of period $ 12,402 $ 10,569