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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 164 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Mar. 31, 2012
Cash flows from operating activities:      
Net loss $ (14,889) $ (1,848) $ (160,330)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock option compensation expense 703 1,188 15,086
Restricted stock and warrant compensation expense 230 105 4,439
Depreciation expense 322 216 1,888
Amortization of organization costs and loss on disposal of equipment 0 0 52
Warrant liability fair value adjustment 338 (5,966) 5,471
Non-cash interest income (3) 0 (14)
Changes in assets and liabilities:      
Decrease (increase) in prepaid expenses and other current assets (111) 490 (1,339)
Decrease in investment in common stock 0 0 46
Increase (decrease) in accounts payable and accrued expenses (772) (908) 5,627
Deferred revenue 0 0 300
Net cash used in operating activities (14,182) (6,723) (128,774)
Cash flows from investing activities:      
Purchase of equipment, furniture and fixtures (572) (1,249) (5,402)
Purchase of short-term investments and marketable equity securities (1,743) 0 (51,415)
Proceeds from maturities of short-term investments 2,988 1,492 47,642
Organization costs 0 0 (42)
Net cash (used in) provided by investing activities 673 243 (9,217)
Cash flows from financing activities:      
Net proceeds from sale of stock and exercise of stock options and warrants 4,782 144 153,887
Repurchases of common stock 0 0 (51)
Dividends paid on preferred stock 0 0 (500)
Proceeds from short-term borrowings 0 0 1,705
Net cash provided by financing activities 4,782 144 155,041
(Decrease) increase in cash and cash equivalents (8,727) (6,336) 17,050
Cash and cash equivalents at beginning of period 25,777 45,621 0
Cash and cash equivalents at end of period 17,050 39,285 17,050
Supplemental cash flow information:      
Cash paid for interest 0 0 171
Supplemental non-cash activities:      
Cashless exercise of stock options and shares surrendered upon restricted stock vesting 0 184 1,245
Fair value of warrants issued 153 0 6,612
Fair value of warrants reclassified from liability to additional paid-in capital upon exercise $ 0 $ 9,154 $ 9,154