XML 23 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended 281 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2011
Cash flows from operating activities:        
Net loss $ (30,885) $ (46,684) $ (22,057) $ (145,442)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock option compensation expense 3,605 3,839 1,579 14,383
Restricted stock and warrant compensation expense 654 1,675 736 4,210
Depreciation expense 1,035 472 8 1,567
Amortization of organization costs and loss on disposal of equipment 0 7 3 52
Warrant liability fair value adjustment (15,566) 15,951 8,568 5,133
Non-cash interest income 0 (3) 0 (12)
Changes in assets and liabilities:        
Decrease (increase) in prepaid expenses and other current assets 553 (1,001) (446) (1,227)
Decrease in investment in common stock 26 10 8 46
Increase in accounts payable and accrued expenses 3,206 1,351 1,138 6,398
Deferred revenue 0 300 0 300
Net cash used in operating activities (37,372) (24,083) (10,463) (114,592)
Cash flows from investing activities:        
Purchase of equipment, furniture and fixtures (2,607) (1,638) (515) (4,830)
Purchase of short-term investments and marketable equity securities (4,980) (3,235) 0 (49,672)
Proceeds from maturities of short-term investments 1,492 1,743 4,049 44,654
Organization costs 0 0 0 (42)
Net cash (used in) provided by investing activities (6,095) (3,130) 3,534 (9,890)
Cash flows from financing activities:        
Net proceeds from sale of stock and exercise of stock options and warrants 23,623 37,348 35,476 149,105
Repurchases of common stock 0 0 0 (51)
Dividends paid on preferred stock 0 0 0 (500)
Proceeds from short-term borrowings 0 0 0 1,705
Net cash provided by financing activities 23,623 37,348 35,476 150,259
Decrease (increase) in cash and cash equivalents (19,844) 10,135 28,547 25,777
Cash and cash equivalents at beginning of period 45,621 35,486 6,939 0
Cash and cash equivalents at end of period 25,777 45,621 35,486 25,777
Supplemental cash flow information:        
Cash paid for interest 0 0 0 171
Supplemental non-cash activities:        
Cashless exercise of stock options and shares surrendered upon restricted stock vesting (61) 700 0 1,184
Conversion of debt to common stock 0 0 0 1,705
Common stock issued for preferred stock dividends 0 0 0 999
Common stock issued as compensation for stock sale 0 0 0 510
Fair value of warrants issued 0 0 2,191 6,460
Fair value of warrants reclassified from liability to additional paid-in capital upon exercise $ 0 $ 9,154 $ 0 $ 9,154