Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

Condensed Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Operating activities    
Net loss $ (19,195) $ (6,159)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 13 50
Amortization of notes payable conversion option   10
Non-employee stock-based compensation expense 5  
Employee and director stock-based compensation expense 1,012 49
Amortization of premium on marketable securities 289  
Non-cash interest associated with debt discount accretion 144  
Change in fair value of warrant liability 2,289  
Loss (gain) on sale of property and equipment 2 (425)
Changes in assets and liabilities:    
Contract receivables 96 108
Accrued interest receivable (155) 9
Prepaid expenses (1,038) 114
Other assets (35)  
Accounts payable 350 382
Accrued liabilities 2,491 310
Accrued interest payable 80 632
Other liabilities 10 (1)
Net cash used in operating activities (13,642) (4,921)
Investing activities    
Purchases of property and equipment (103)  
Proceeds from sale of property and equipment   450
Purchases of marketable securities (24,782)  
Proceeds from sales and maturities of marketable securities 5,049  
Net cash (used in) provided by investing activities (19,836) 450
Financing activities    
Proceeds from facility loan   4,853
Proceeds from issuance of common stock and warrants, net of issuance costs 25,430 23,975
Repurchase of preferred stock   (3)
Proceeds from issuance of common stock upon exercise of employee stock options 3  
Net cash provided by financing activities 25,433 28,825
Net (decrease) increase in cash and cash equivalents (8,045) 24,354
Cash and cash equivalents at beginning of period 24,401 7,726
Cash and cash equivalents at end of period 16,356 32,080
Supplemental disclosure of cash flow information    
Cash paid for interest 328  
Issuance of common stock warrants-lenders 443 479
Issuance of common stock warrants-common stock   4,831
Conversion of preferred shares into common stock   323,155
Issuance of common stock for debt extinguishment   16,945
Issuance of common stock upon cashless warrant exercise 432  
Noncash issuance costs incurred in common stock financing 453  
Reclassification of incentive awards to equity $ 121