XML 39 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Operating Activities:    
Net loss $ (51,401) $ (37,929)
Reconciliation of net loss to net cash used in operating activities:    
Change in fair value of warrant liability    (267)
Depreciation and amortization 2,995 1,636
Amortization of net premiums on investments 106 326
Loss on disposal of property and equipment (13) (37)
Deferred rent (302) 678
Non-cash stock-based compensation 4,583 1,784
Realized gains on investments (615)   
Changes in operating assets and liabilities:    
Restricted cash 1,417 862
Accounts receivable - billed (999) (291)
Accounts receivable - unbilled 755 (1,624)
Prepaid expenses and other assets (3,348) 639
Accounts payable and accrued expenses (164) 623
Deferred revenue (260) (199)
Lease incentives received    703
Net cash used in operating activities (47,246) (33,096)
Investing Activities:    
Capital expenditures (4,877) (4,762)
Proceeds from disposal of property and equipment 39 83
Net cash received from the Novavax AB acquisition    3,034
Proceeds from sales and maturities of investments 18,440 23,630
Purchases of investments (160,782) (14,754)
Net cash (used in) provided by investing activities (147,180) 7,231
Financing Activities:    
Principal payments on capital leases (58) (54)
Principal payments on notes payable (505) (305)
Proceeds from notes payable    1,450
Changes in restricted cash (1) 0
Cash paid with the Novavax AB acquisition (171) (1)
Net proceeds from sales of common stock, net of offering costs of $7.1 million and $6.1 million, respectively 107,896 128,659
Proceeds from the exercise of stock options and employee stock purchases 2,288 1,194
Net cash provided by financing activities 109,449 130,943
Effect of exchange rate on cash and cash equivalents (21) 16
Net (decrease) increase in cash and cash equivalents (84,998) 105,094
Cash and cash equivalents at beginning of period 119,471 17,399
Cash and cash equivalents at end of period 34,473 122,493
Supplemental disclosure of non-cash activities:    
Common stock issued in connection with the Novavax AB acquisition    41,942
Property and equipment purchases included in accounts payable and accrued expenses 999 407
Supplemental disclosure of cash flow information:    
Cash payments of interest $ 143 $ 120