Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net loss $ (20,826) $ (99,523)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,094 668
Stock-based compensation expense 3,556 2,087
Change in common stock warrant value 2,559 85,572
Changes in operating assets and liabilities:    
Collaboration receivable 10,090 (17,457)
Prepaid expenses and other assets (652) (606)
Accounts payable 467 (1,650)
Accrued clinical and development expenses 2,541 1,980
Accrued liabilities 232 80
Deferred rent (18) 120
Deferred revenue 20,717 53,654
Net cash provided by operating activities 19,760 24,925
Cash flows from investing activities:    
Acquisition of property and equipment (106) (328)
Acquisition of marketable securities (88,951) (75,413)
Proceeds from sales of marketable securities 3,203 10,600
Proceeds from maturities of marketable securities 56,797 21,522
Net cash used in investing activities (29,057) (43,619)
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants, net of offering expenses 2,269 21,446
Net cash provided by financing activities 2,269 21,446
Net increase (decrease) in cash and cash equivalents (7,028) 2,752
Cash and cash equivalents, beginning of period 11,029 5,882
Cash and cash equivalents, end of period $ 4,001 $ 8,634