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Consolidated Condensed Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended281 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Cash flows from operating activities:   
Net loss$ (15,616,314)$ (31,371,719)$ (130,173,109)
Adjustments to reconcile net loss to net cash used in operating activities:   
Stock option compensation expense2,920,6482,667,27513,698,907
Restricted stock and warrant compensation expense437,5031,272,0473,993,450
Depreciation expense723,379318,8861,255,413
Amortization of organization costs0042,165
Loss on disposal of furniture and fixtures06,73010,172
Warrant liability fair value adjustment(14,864,018)10,164,5675,834,584
Non-cash interest income(533)(4,467)(12,268)
Decrease (increase) in prepaid expenses and other assets741,907(211,149)(1,018,538)
Increase (decrease) in accounts payable and accrued expenses1,842,910(42,186)5,035,220
Deferred revenue0300,000300,000
Net cash used in operating activities(23,814,518)(16,900,016)(101,034,004)
Cash flows from investing activities:   
Purchase of property, plant and equipment(2,274,877)(1,341,930)(4,497,264)
Proceeds from sale of equipment00200
Purchase of short-term investments(3,735,000)(3,235,000)(48,381,452)
Purchase of marketable equity securities00(46,200)
Proceeds from maturities of short-term investments1,492,000747,00044,654,356
Organization costs00(42,165)
Net cash used in investing activities(4,517,877)(3,829,930)(8,312,525)
Cash flows from financing activities:   
Net proceeds from sale of stock and exercise of stock options and warrants23,673,93537,008,746149,155,196
Repurchases of common stock00(51,103)
Dividends paid on preferred stock00(499,535)
Proceeds from short-term borrowings001,704,964
Net cash provided by financing activities23,673,93537,008,746150,309,522
(Decrease) increase in cash and cash equivalents(4,658,460)(16,278,800)40,962,993
Cash and cash equivalents at beginning of period45,621,45335,486,3190
Cash and cash equivalents at end of period40,962,99351,765,11940,962,993
Supplemental cash flow information:   
Cash paid for interest00171,473
Supplemental non-cash activities:   
Cashless exercise of stock options and shares withheld upon restricted stock vesting(61,031)424,3321,183,563
Fair value of warrants issued006,459,979
Fair value of warrants reclassified from liability to additional paid-in capital upon exercise$ 0$ 8,541,937$ 9,153,567