Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.3.0.814
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net loss $ (25,891) $ (15,620)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 753 1,034
Stock-based compensation expense 4,792 3,932
Change in common stock warrant value 659 (7,781)
(Gain) loss on sale of investments, property and equipment 14  
Changes in operating assets and liabilities:    
Collaboration receivable 3,216 13,631
Prepaid expenses and other assets (1,123) 258
Accounts payable (1,638) 1,725
Accrued clinical and development expenses (100) (3,302)
Accrued liabilities 22 (464)
Deferred rent (90) 20
Deferred revenue (11,041) (11,042)
Net cash (used in) provided by operating activities (30,427) (17,609)
Cash flows from investing activities:    
Acquisition of property and equipment (109) (212)
Acquisition of marketable securities (46,622) (43,275)
Proceeds from sale of marketable securities 1,997 13,234
Proceeds from maturities of marketable securities 51,634 46,715
Net cash (used in) provided by investing activities 6,900 16,462
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants, net of offering expenses 28,845 5,108
Net cash provided by financing activities 28,845 5,108
Net increase (decrease) in cash and cash equivalents 5,318 3,961
Cash and cash equivalents, beginning of period 8,391 7,279
Cash and cash equivalents, end of period $ 13,709 $ 11,240