Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.4.0.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net loss $ (7,852) $ (11,154)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 185 239
Gain on sale of fixed assets 9  
Stock-based compensation expense 843 1,421
Change in common stock warrant fair value (370) 1,532
Changes in operating assets and liabilities:    
Collaboration receivable 1,114 5,255
Prepaid expenses and other assets 719 (436)
Accounts payable 838 (265)
Accrued clinical and development expenses (3,509) 2,250
Accrued liabilities (2,582) 1,016
Deferred rent (22) (18)
Deferred revenue   (3,681)
Net cash used in operating activities (10,627) (3,841)
Cash flows from investing activities:    
Acquisition of property and equipment   (38)
Purchases of marketable securities (7,495) (32,899)
Proceeds from sale of marketable securities   1,997
Proceeds from maturities of marketable securities 19,731 18,939
Net cash (used in) provided by investing activities 12,236 (12,001)
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 1,622 12,672
Cash and cash equivalents, beginning of period 9,589 8,391
Cash and cash equivalents, end of period $ 11,211 $ 21,063