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v2.4.0.8

Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified | 9 Months Ended
--- | ---
Sep. 30, 2013 | Sep. 30, 2012
Operating Activities: |  |
Net loss | $ (18,480) | $ (18,786)
Adjustments to reconcile net loss to net cash used in operating activities: |  |
Depreciation and amortization | 445 | 500
Amortization of premium / discount on marketable securities | 625 | 692
Stock-based compensation | 4,098 | 4,011
Changes in operating assets and liabilities: |  |
Interest receivable | (18) | 20
Accounts receivable | (696) | (2,585)
Prepaid expenses and other assets | (387) | (364)
Accounts payable and accrued liabilities | (1,348) | (3,770)
Accrued compensation and employee benefits | (434) | 159
Deferred revenues | (1,630) | 11,818
Net cash used in operating activities | (17,825) | (8,305)
Investing Activities: |  |
Purchases of investments | (37,161) | (70,570)
Maturities of investments | 38,384 | 75,155
Purchases of property and equipment | (395) | (363)
Net cash provided by investing activities | 828 | 4,222
Financing Activities: |  |
Proceeds from public offering, net of issuance costs | 69,492 |
Proceeds from issuance of common stock | 6,135 | 1,041
Net cash provided by financing activities | 75,627 | 1,041
Net increase / (decrease) in cash and cash equivalents | 58,630 | (3,042)
Cash and cash equivalents, beginning of period | 21,679 | 16,766
Cash and cash equivalents, end of period | $ 80,309 | $ 13,724

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