Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (5,074) $ (7,852)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 26 185
(Gain) loss on sale of property and equipment (21) 9
Stock-based compensation expense 505 843
Change in common stock warrant fair value 664 (370)
Changes in operating assets and liabilities:    
Collaboration receivable/payable (129) 1,114
Prepaid expenses and other assets 271 719
Accounts payable (494) 838
Accrued clinical and development expenses (599) (3,509)
Accrued liabilities 816 (2,582)
Deferred rent (27) (22)
Net cash used in operating activities (4,062) (10,627)
Cash flows from investing activities:    
Issuance of promissory notes to Molecular Templates, Inc. (2,000) 0
Purchases of marketable securities (299) (7,495)
Proceeds from sale of property and equipment 100 0
Proceeds from maturities of marketable securities 7,141 19,731
Net cash provided by investing activities 4,942 12,236
Cash flows from financing activities:    
Proceeds from issuance of common stock 7 13
Net cash provided by financing activities 7 13
Net increase in cash and cash equivalents 887 1,622
Cash and cash equivalents, beginning of period 10,551 9,589
Cash and cash equivalents, end of period $ 11,438 $ 11,211