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
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net loss $ (20,412) $ (25,891)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 378 753
(Gain) loss on sale of investments, property and equipment (62) 14
Stock-based compensation expense 2,437 4,792
Change in common stock warrant fair value 1,124 659
Changes in operating assets and liabilities:    
Collaboration receivable 1,491 3,216
Prepaid expenses and other assets 1,743 (1,123)
Accounts payable (26) (1,638)
Accrued clinical and development expenses (4,926) (100)
Accrued liabilities (2,157) 22
Deferred rent (68) (90)
Deferred revenue 0 (11,041)
Net cash used in operating activities (20,478) (30,427)
Cash flows from investing activities:    
Acquisition of property and equipment 0 (109)
Purchases of marketable securities (15,146) (46,622)
Proceeds from sale of property and equipment 71 0
Proceeds from sale of marketable securities 0 1,997
Proceeds from maturities of marketable securities 41,092 51,634
Net cash provided by investing activities 26,017 6,900
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants, net of offering expenses 27 28,845
Net cash provided by financing activities 27 28,845
Net increase in cash and cash equivalents 5,566 5,318
Cash and cash equivalents, beginning of period 9,589 8,391
Cash and cash equivalents, end of period $ 15,155 $ 13,709