XML 25 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating activities      
Net loss $ (28,546) $ (29,251) $ (21,089)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 435 472 451
Stock-based compensation expense 1,927 2,178 1,494
Change in fair value of preferred stock warrant values and success fee liability     (848)
Non-cash interest expense 352 174 253
Loss on extinguishment of debt   296  
Loss on sale of investment securities   33 34
Changes in operating assets and liabilities:      
Grant and other receivables 2,254 (1,231) (41)
Prepaid expenses and other current and noncurrent assets (201) (87) 42
Accounts payable and accrued expenses 339 1,462 207
Deferred revenue (2,228) 11,452 470
Net cash used in operating activities (25,668) (14,502) (19,027)
Investing activities      
Purchases of property and equipment (1,241) (807) (279)
Purchase of Patobios intellectual property assets   (7,631)  
Reimbursement of Patobios intellectual property assets   7,631  
Purchases of investments (9,000) (57,765) (64,207)
Proceeds from the sale of investments 27,150 78,173 11,045
Proceeds from the maturities of investments   323 1,039
Net cash provided by (used in) investing activities 16,909 19,924 (52,402)
Financing activities      
Proceeds from issuance of common stock upon initial public offering, net of offering costs of $6,388     61,812
Proceeds from borrowings under note payable, net of loan origination costs and prepayment penalty 9,942 9,742  
Payments on notes payable (1,051) (13,005) (4,120)
Proceeds from issuance of common stock upon exercise of stock options 595 299 28
Proceeds from issuance of convertible preferred stock, net of issuance costs     1,851
Other, net     (48)
Net cash provided by (used in) financing activities 9,486 (2,964) 59,523
Net increase (decrease) in cash and cash equivalents 727 2,458 (11,906)
Cash and cash equivalents at beginning of period 3,278 820 12,726
Cash and cash equivalents at end of period 4,005 3,278 820
Supplemental cash flow information      
Cash paid for interest 1,461 1,362 1,947
Issuance of common stock to Patobios in connection with purchase of intellectual property assets   3,146  
Reduction of PP&E cost basis due to assets purchased with grant funding 1,689    
Issuance of warrants   994  
Property acquired under capital lease   $ 201