XML 19 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 9 Months Ended 12 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (10,659) $ (7,123) $ (10,848)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 312 224 312
Capital loss    8 8
Impairment of property and equipment       11
Stock-based compensation to employees, directors and non-employees consultants 3,533 2,336 3,325
Stock compensation to investor relations consultants 1 155 155
Decrease (increase) in other accounts receivable (1,586) 265 656
Decrease (increase) in prepaid expenses 142 (172) (273)
Increase (decrease) in trade payables 375 516 455
Increase in other accounts payable and accrued expenses 52 156 375
Increase in deferred revenues 4,385      
Increase in advance payment from United Therapeutics 1,509      
Increase (decrease) in interest receivable on short-term deposit (284) 15 15
Linkage differences and interest on short-term restricted lease deposit 15      
Linkage differences and interest on long-term restricted lease deposit 4 (3) (4)
Amortization of discount, premium and changes in accrued interest from marketable securities (174)      
Accrued severance pay, net 30 27 58
Net cash provided by operating activities (2,345) (3,596) (5,755)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property and equipment (1,313) (672) (962)
Investment in short-term deposits (21,627)      
Proceeds from short-term deposits    898 898
Proceeds from sale of property and equipment    28 29
Investment in long-term deposits (526) (12) (14)
Repayment of long-term restricted deposit 6 13 13
Proceeds from sale of available for sale marketable securities 750      
Purchase of available for sale marketable securities (6,566)      
Net cash provided by (used in) investing activities (29,276) 255 (36)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Issuance of common stock and warrants, net of issuance costs    43,400 43,400
Exercise of warrants and options 397 3,248 3,661
Repayment of long-term loan    (24) (24)
Net cash provided by financing activities 397 46,624 47,037
Increase (decrease) in cash and cash equivalents (31,224) 43,283 41,246
Cash and cash equivalents at the beginning of the period 42,829 1,583 1,583
Cash and cash equivalents at the end of the period 11,605 44,866 42,829
(a) Supplemental disclosure of cash flow activities:      
Taxes paid due to non-deductible expenses 12 9 11
(b) Supplemental disclosure of non-cash activities:      
Increase in fair value of marketable securities 52      
Purchase of property and equipment in credit 100 168 123
Issuance of shares in consideration of leasehold improvements $ 1,155