XML 16 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net loss $ (40,326) $ (34,696)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,067 410
Amortization of premium on debt securities 498 440
Stock-based compensation expense 5,717 10,718
Issuance of common stock for director fees 77 0
Net loss on equity method investment 807 860
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 544 (1,787)
Accounts payable (921) 388
Accrued expenses, deferred rent and other non-current liabilities 1,208 (2,778)
Net cash used in operating activities (31,329) (26,445)
Cash flows from investing activities:    
Investment in joint venture (750) (1,500)
Purchases of property, plant and equipment (868) (1,148)
Maturities of short-term investments 35,413 33,729
Sales of short-term investments 23,089 3,117
Purchases of short-term investments (27,142) (68,918)
Decrease (increase) in restricted cash 197 (439)
Net cash (used in) provided by investing activities 29,939 (35,159)
Cash flows from financing activities:    
Net proceeds from the issuance of common stock 53,949 124,063
Issuances of common stock under benefit plans, net of withholding taxes paid 111 1,365
Net cash provided by financing activities 54,060 125,428
Net increase in cash and cash equivalents 52,670 63,824
Cash and cash equivalents at beginning of period 43,224 6,414
Cash and cash equivalents at end of period $ 95,894 $ 70,238