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, unless otherwise specified
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:    
Net loss $ (98,532) $ (16,253)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 331 244
Stock-based compensation expense 1,143 452
Change in common stock warrant value 88,539 2,121
Changes in operating assets and liabilities:    
Collaboration receivable (16,412)  
Prepaid expenses and other assets (1,108) (136)
Accounts payable (1,394) 226
Accrued clinical and development expenses (664) 238
Accrued liabilities (300) 492
Deferred rent 121 (152)
Deferred revenue 55,451  
Net cash provided by (used in) operating activities 27,175 (12,768)
Cash flows from investing activities:    
Acquisition of property and equipment (228)  
Acquisition of marketable securities (60,577) (21,228)
Proceeds from sales and maturities of marketable securities 16,502 6,235
Net cash used in investing activities (44,303) (14,993)
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants, net of offering expenses 19,553 29,667
Net cash provided by financing activities 19,553 29,667
Net increase in cash and cash equivalents 2,425 1,906
Cash and cash equivalents, beginning of period 5,882 8,691
Cash and cash equivalents, end of period 8,307 10,597
Supplemental schedule of non-cash investing and financing activities    
Unrealized gain (loss) on marketable securities $ (12) $ (3)