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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating activities    
Net loss $ (90,703) $ (79,932)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,574 958
Accretion of discounts and amortization of premiums on marketable securities 155 476
Accretion of debt discount related to debt financing   (115)
Cash-settled portion of stock-based compensation expense 602 387
Stock compensation expense 10,030 6,502
Loss on extinguishment of debt   1,671
Changes in operating assets and liabilities:    
Accounts and other receivables (896) (436)
Prepaid expenses and other current assets 804 1,569
Restricted cash and other assets (99) (211)
Accounts payable 704 273
Accrued liabilities and other long term liabilities (286) 364
Deferred revenues (2,654) (2,219)
Net cash used in operating activities (80,769) (70,713)
Investing activities    
Purchases of marketable securities (122,027) (127,918)
Proceeds from maturities of marketable securities 186,670 82,920
Purchases of property and equipment, net (6,516) (4,246)
Net cash provided by (used in) investing activities 58,127 (49,244)
Financing activities    
Proceeds from issuance of common stock, net   183,899
Payment of debt   (10,990)
Proceeds from exercise of stock options and restricted stock awards 131 237
Proceeds from exercise of warrants   222
Proceeds from Employee Stock Purchase Plan 616 291
Net cash provided by financing activities 747 173,659
Effect of exchange rate changes on cash and cash equivalents 104 (182)
Net (decrease) increase in cash and cash equivalents (21,791) 53,520
Cash and cash equivalents at beginning of period 44,812 49,511
Cash and cash equivalents at end of period 23,021 103,031
Supplemental disclosure of cash flow information    
Cash paid during the period for interest   720
Accrual for litigation settlement and insurance recovery 4,050  
Non-cash investing and financing activities:    
Disposal of fully depreciated property and equipment 1,160 171
Net change in unrealized gain on marketable securities $ 7 $ 4