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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities    
Net loss $ (37,915)us-gaap_NetIncomeLoss $ (14,098)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 634us-gaap_Depreciation 588us-gaap_Depreciation
Change in valuation of warrant liability 41us-gaap_FairValueAdjustmentOfWarrants 55us-gaap_FairValueAdjustmentOfWarrants
Amortization of premiums on investments 486us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 414us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments
Share-based compensation expense 9,748us-gaap_ShareBasedCompensation 3,705us-gaap_ShareBasedCompensation
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (2,231)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (358)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Receivables 1,267us-gaap_IncreaseDecreaseInReceivables 120us-gaap_IncreaseDecreaseInReceivables
Deposits and other assets 138us-gaap_IncreaseDecreaseInDepositOtherAssets 17us-gaap_IncreaseDecreaseInDepositOtherAssets
Accounts payable and accrued expenses (5,589)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (3,472)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Other long-term liabilities (23)us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities (23)us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities
Deferred revenue (2,981)us-gaap_IncreaseDecreaseInDeferredRevenue (386)us-gaap_IncreaseDecreaseInDeferredRevenue
Net cash used in operating activities (36,425)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (13,438)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities    
Purchases of fixed assets (883)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (186)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Purchases of marketable securities (19,108)us-gaap_PaymentsToAcquireMarketableSecurities (25,354)us-gaap_PaymentsToAcquireMarketableSecurities
Sale & redemption of marketable securities 40,598us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities 21,273us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities
Net cash provided/ used in investing activities 20,607us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (4,267)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities    
Payments on long-term debt   (37)us-gaap_RepaymentsOfLongTermDebt
Proceeds from exercise of options 3,019us-gaap_ProceedsFromStockOptionsExercised  
Net proceeds from public offerings   118,183us-gaap_ProceedsFromIssuanceOfCommonStock
Net cash provided by financing activities 3,019us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 118,146us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of exchange rate changes on cash (124)us-gaap_EffectOfExchangeRateOnCash  
Net increase/(decrease) in cash and cash equivalents (12,923)us-gaap_NetCashProvidedByUsedInContinuingOperations 100,441us-gaap_NetCashProvidedByUsedInContinuingOperations
Cash and cash equivalents, beginning of period 49,748us-gaap_CashAndCashEquivalentsAtCarryingValue 15,414us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of period 36,825us-gaap_CashAndCashEquivalentsAtCarryingValue 115,855us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of cash information    
Cash paid for interest   1us-gaap_InterestPaid
Supplemental disclosures of non-cash information related to investing and financing activities    
Change in unrealized gain (loss) on marketable securities $ 125ptct_ChangeInUnrealizedGainLossOnMarketableSecurities $ 10ptct_ChangeInUnrealizedGainLossOnMarketableSecurities