Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.5.0.2
Condensed Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities    
Net loss $ (13,840) $ (3,685)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 11 11
Stock based compensation expense 1,130 1,312
Amortization of premium on marketable securities 133 228
Non-cash interest associated with debt discount accretion 229 86
Change in fair value of warrant liability 39 (9,902)
Changes in assets and liabilities:    
Contract receivables   194
Accrued interest receivable 167 53
Prepaid expenses 99 995
Other assets   (213)
Accounts payable 264 (364)
Accrued liabilities (439) (224)
Accrued interest payable   38
Other liabilities (3) 3
Net cash used in operating activities (12,210) (11,468)
Investing activities    
Purchases of property and equipment (37)  
Purchases of marketable securities (17,704) (13,375)
Proceeds from maturities of marketable securities 34,656 21,028
Net cash provided by investing activities 16,915 7,653
Financing activities    
Proceeds from issuance of common stock and warrants, net of issuance costs   4,263
Proceeds from issuance of common stock upon warrant exercises   426
Repayment of loan principal   (758)
Net cash provided by financing activities   3,931
Net increase in cash and cash equivalents 4,705 116
Cash and cash equivalents at beginning of period 7,706 11,586
Cash and cash equivalents at end of period $ 12,411 $ 11,702