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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities:      
Net loss $ (97,591,000) $ (76,367,000) $ (55,283,000)
Adjustments to reconcile net loss to net cash used for operating activities:      
Stock-based compensation 14,360,000 8,067,000 10,890,000
Depreciation and amortization 734,000 578,000 333,000
Amortization of Debt Discount (Premium) 624,000 573,000 533,000
Asset Impairment Charges 0 905,000 $ 0
(Gain) loss on disposal of property and equipment (118,000) $ 17,000
Amortization of premium on short-term investments 89,000
Change in operating assets and liabilities:      
Prepaid expense and other current assets (2,443,000) $ (419,000) $ (54,000)
Accounts payable 751,000 1,285,000 (426,000)
Accrued clinical liabilities 1,420,000 2,038,000 1,127,000
Accrued payroll and employee liabilities 2,097,000 165,000 2,153,000
Other accrued liabilities 1,551,000 2,876,000 (36,000)
Net cash used for operating activities (78,526,000) $ (60,282,000) $ (40,763,000)
Investing activities:      
Purchases of short-term investments (56,115,000)
Purchases of property and equipment (1,086,000) $ (1,438,000) $ (1,685,000)
Proceeds from the sale of property and equipment 241,000
Net cash used for investing activities (56,960,000) $ (1,438,000) $ (1,685,000)
Financing activities:      
Net proceeds from sale of common stock and/or pre-funded warrants 128,199,000 58,916,000 57,802,000
Proceeds from purchases under the Employee Stock Purchase Plan 257,000 91,000 34,000
Proceeds from stock option exercises $ 9,535,000 $ 3,101,000 2,793,000
Proceeds from warrant exercises 600,000
Net cash provided by financing activities $ 137,991,000 $ 62,108,000 61,229,000
Net increase in cash and cash equivalents 2,505,000 388,000 18,781,000
Cash and cash equivalents at beginning of year 72,675,000 72,287,000 53,506,000
Cash and cash equivalents at end of year 75,180,000 72,675,000 72,287,000
Supplemental disclosure of cash flow information:      
Interest paid $ 0 $ 0 $ 0