XML 36 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended 256 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Loss $ (74,751) $ (86,005) $ (2,010,298)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 7,343 8,023 119,718
Stock-based compensation expense 5,951 4,701 130,577
Stock expense for shares issued pursuant to research agreement     3,018
(Gain) loss on sale, abandonment/disposal or impairment of property and equipment (73) (63) 23,498
Accrued interest on investments, net of amortization of discounts     (191)
In-process research and development     19,726
Goodwill impairment     151,428
Loss on available-for-sale securities 117   990
Fair value adjustment of warrant liability (2,709)   (2,709)
Fair value of forward purchase contract (12,011)   (12,011)
Other, net (7) 9 1,095
Changes in assets and liabilities:      
State research and development credit exchange receivable (185) 418 (658)
Prepaid expenses and other current assets (15,731) 1,256 (16,756)
Other assets   87 (230)
Accounts payable 1,244 (447) 5,618
Accrued expenses and other current liabilities 33,308 4,574 53,282
Other liabilities     (2)
Net cash used in operating activities (57,504) (67,447) (1,533,905)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of marketable securities     (796,779)
Sales and maturities of marketable securities   3,828 796,393
Purchase of property and equipment (448) (6,109) (327,557)
Proceeds from sale of property and equipment 73 63 450
Net cash (used in) provided by investing activities (375) (2,218) (327,493)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Issuance of common stock and warrants, net of issuance costs 80,992 10,424 1,311,013
Collection of Series C convertible preferred stock subscriptions receivable     50,000
Issuance of Series B convertible preferred stock for cash     15,000
Cash received for common stock to be issued     3,900
Repurchase of common stock     (1,028)
Put shares sold to majority stockholder     623
Borrowings under lines of credit     4,220
Proceeds from notes receivables     1,742
Borrowings on notes payable to related party 6,250 18,000 381,250
Principal payments on notes payable to principal stockholder     (70,000)
Borrowings on notes payable     3,460
Principal payments on notes payable     (1,667)
Proceeds from senior convertible notes     207,050
Payment of employment taxes related to vested restricted stock units (405) (50) (12,526)
Net cash provided by financing activities 86,837 28,374 1,893,037
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 28,958 (41,291) 31,639
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 2,681 66,061  
CASH AND CASH EQUIVALENTS, END OF PERIOD 31,639 24,770 31,639
SUPPLEMENTAL CASH FLOWS DISCLOSURES:      
Cash paid for income taxes     26
Interest paid in cash, net of amounts capitalized 4,751 10,136 54,148
Accretion on redeemable convertible preferred stock     (952)
Issuance of common stock upon conversion of notes payable     3,331
Increase in additional paid-in capital resulting from merger     171,154
Issuance of common stock for notes receivable     2,758
Issuance of put option by stockholder     (2,949)
Put option redemption by stockholder     1,921
Issuance of Series C convertible preferred stock subscriptions     50,000
Issuance of Series A redeemable convertible preferred stock     4,296
Conversion of Series A redeemable convertible preferred stock     (5,248)
Non-cash construction in progress and property and equipment 2,343 1,039 2,343
Capitalization of interest on note payable to related party 11,876   11,876
Cancellation of principal on note payable to related party 77,187 11,116 104,984
Warrant liability 7,632   7,632
Forward purchase contract contribution to additional paid-in capital 1,080   1,080
Reclassification of forward purchase contract to additional paid-in capital $ 13,091   $ 13,091