XML 28 R5.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities:      
Net loss $ (43,019,000) $ (45,189,000) $ (30,108,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation, Depletion and Amortization $ 180,000 177,000 304,000
Loss (gain) on disposal of property and equipment 27,000 (47,000)
Stock-based compensation expense $ 9,705,000 10,177,000 4,368,000
Amortization of Financing Costs 439,000 439,000 439,000
Change in fair value of foreign currency derivative 564,000 (5,487,000) (5,294,000)
Changes in operating assets and liabilities:      
Receivables 3,247,000 (7,375,000) $ 2,447,000
Inventory (929,000) (683,000)
Prepaid expenses and other assets 1,207,000 (1,943,000) $ (620,000)
Deferred collaboration expense (102,000) 59,000 5,133,000
Accounts payable and accrued expenses 14,393,000 6,818,000 (2,049,000)
Deferred revenue 1,199,000 4,429,000 (1,103,000)
Net cash used in operating activities: (13,116,000) (38,551,000) (26,530,000)
Investing activities:      
Acquisition of property and equipment $ (5,122,000) $ (106,000) (30,000)
Proceeds from sale of property and equipment 50,000
Change in restricted cash $ (1,462,000) $ 1,000 157,000
Purchases of investments (53,830,000) (73,875,000) (23,974,000)
Sales and maturities of investments 42,410,000 34,000,000 20,330,000
Net cash used in investing activities: $ (18,004,000) (39,980,000) (3,467,000)
Financing activities:      
Sale of common stock, net 106,600,000 23,633,000
Exercise of stock options $ 5,124,000 4,997,000 1,333,000
Employee stock purchase plan sales $ 355,000 $ 310,000 124,000
Receipt of foreign currency derivative collateral 5,180,000
Net cash provided by financing activities: $ 5,479,000 $ 111,907,000 30,270,000
(Decrease) increase in cash and cash equivalents (25,641,000) 33,376,000 273,000
Cash and cash equivalents at beginning of year 54,540,000 21,164,000 20,891,000
Cash and cash equivalents at end of year $ 28,899,000 $ 54,540,000 $ 21,164,000