XML 23 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities    
Net loss $ (67,733) $ (90,703)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,456 1,574
Gain on disposal of property and equipment (32)  
Accretion of discounts and amortization of premiums on marketable securities (104) 155
Reversal of deferred rent upon lease amendment (209)  
Cash-settled portion of stock-based compensation expense   602
Stock compensation expense 10,844 10,030
Changes in operating assets and liabilities:    
Accounts and other receivables 559 (896)
Prepaid expenses and other current assets (1,841) 804
Other assets (936) (99)
Accounts payable (1,499) 704
Accrued liabilities and other long term liabilities (1,274) (286)
Deferred revenues   (2,654)
Net cash used in operating activities (59,769) (80,769)
Investing activities    
Purchases of marketable securities (192,684) (122,027)
Proceeds from maturities of marketable securities 78,298 186,670
Purchases of property and equipment, net (374) (6,516)
Net cash (used in) provided by investing activities (114,760) 58,127
Financing activities    
Proceeds from issuance of common stock, net 169,187  
Proceeds from exercise of stock options and restricted stock awards, net 285 131
Proceeds from Employee Stock Purchase Plan 292 616
Net cash provided by financing activities 169,764 747
Effect of exchange rate changes on cash and cash equivalents 572 104
Net decrease in cash and cash equivalents (4,193) (21,791)
Cash and cash equivalents at beginning of period 24,289 44,812
Cash and cash equivalents at end of period 20,096 23,021
Supplemental disclosure of cash flow information    
Accrual for litigation settlement and insurance recovery (Note 4)   4,050
Release of accrual for litigation settlement and insurance recovery (Note 4) 4,050  
Non-cash investing and financing activities:    
Disposal of fully depreciated property and equipment   1,160
Net change in unrealized (loss) gain on marketable securities (31) $ 7
Common stock issuance costs - cash not paid as of period end $ 110