Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

v3.6.0.2
Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Operating activities    
Net loss $ (26,671) $ (15,529)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 29 22
Stock-based compensation expense 2,473 2,487
Amortization of premium on marketable securities 125 511
Non-cash interest associated with debt discount accretion 476 228
Change in fair value of warrant liability (75) (11,121)
Changes in assets and liabilities:    
Other current assets 165 161
Prepaid expenses (761) 1,383
Other assets (13) (486)
Accounts payable (109) (1,077)
Accrued liabilities 1,015 (46)
Accrued interest payable (7) 143
Net cash used in operating activities (23,353) (23,324)
Investing activities    
Purchases of property and equipment (42)  
Purchases of marketable securities (22,906) (42,788)
Proceeds from maturities of marketable securities 50,076 31,705
Net cash provided by (used in) investing activities 27,128 (11,083)
Financing activities    
Proceeds from facility loan   9,482
Repayment of facility loan principal (986) (4,756)
Proceeds from issuance of common stock and warrants, net of issuance costs   25,375
Proceeds from issuance of common stock upon exercise of warrants   426
Net cash (used in) provided by financing activities (986) 30,527
Net increase (decrease) in cash and cash equivalents 2,789 (3,880)
Cash and cash equivalents at beginning of period 7,706 11,586
Cash and cash equivalents at end of period 10,495 7,706
Supplemental disclosure    
Cash paid for interest 866 535
Supplemental non-cash investing and financing activities    
Issuance of common stock warrants to lenders   258
Issuance of common stock upon warrant exercises   $ 1,513
Net change in accrued financing costs $ 144