Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended 66 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2011
Cash flows from operating activities:        
Net loss $ (36,360) $ (9,982) $ (3,666) $ (56,574)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation expense 1,469 2,329 39 3,874
Acquired in-process research and development 20,706     20,706
Noncash interest   236 493 1,031
Noncash interest-related parties   34 101 286
Contribution of services by stockholder 30 40 40 130
Issuance of Common Stock to non-employee for services   121   121
Change in fair value of common stock warrant liability   234   234
Change in fair value of embedded conversion feature   831   831
Change in fair value of preferred stock warrant liability 1,407     1,407
Amortization of deferred financing costs   157 415 737
Depreciation expense 22 5 5 41
Changes in operating assets and liabilities:        
Other current assets (160) (51) 203 (215)
Interest payable-related parties 19 (38) 38 19
Accounts payable and accrued expenses-related parties (46) 46    
Accounts payable and accrued expenses 1,961 361 (19) 3,474
Net cash used in operating activities (10,952) (5,677) (2,351) (23,898)
Cash flows from investing activities:        
Purchase of computer equipment   (13) (2) (41)
Purchase of in-process research and development (3,843)     (3,843)
Net cash used in investing activities (3,843) (13) (2) (3,884)
Cash flows from financing activities:        
Proceeds from PCP notes payable-related party     570 570
Payment of PCP notes payable-related party   (570)   (570)
Proceeds from notes payable-related parties   302 90 2,221
Proceeds from borrowings under line of credit     40 80
Payment of line of credit   (80)   (80)
Proceeds from Senior Convertible Notes     3,500 7,570
Payment of debt issue costs     (344) (737)
Payment of notes payable-related parties       (600)
Proceeds from issuance of Common Stock 193     198
Net cash provided by financing activities 23,093 19,042 3,856 50,942
Increase in cash and cash equivalents 8,298 13,352 1,503 23,160
Cash and cash equivalents-beginning of period 14,862 1,510 7  
Cash and cash equivalents-end of period 23,160 14,862 1,510 23,160
Supplemental disclosure of cash flow information:        
Cash paid for interest 53 81 7 141
Supplemental disclosure of non-cash financing and investing activities:        
Assumption of PCP Note related to Asphelia Asset Purchase 750     750
Series A Preferred Stock [Member]
        
Cash flows from financing activities:        
Proceeds from issuance of Convertible Preferred Stock   21,681   21,681
Payment of costs related to the issuance of Convertible Preferred Stock   (2,291)   (2,291)
Supplemental disclosure of non-cash financing and investing activities:        
Issuance of Common Stock warrants related to the Convertible Preferred Stock Series A financing   621   621
Conversion of Senior Convertible Notes into Convertible Preferred Stock Series A   8,601   8,601
Conversion of notes payable-related parties into Convertible Preferred Stock Series A   1,907   1,907
Series B Preferred Stock [Member]
        
Supplemental disclosure of non-cash financing and investing activities:        
Issuance of Convertible Preferred Stock Series B for purchase of assets 16,114     16,114
Series C Preferred Stock [Member]
        
Cash flows from financing activities:        
Proceeds from issuance of Convertible Preferred Stock 25,784     25,784
Payment of costs related to the issuance of Convertible Preferred Stock (2,884)     (2,884)
Supplemental disclosure of non-cash financing and investing activities:        
Issuance of Convertible Preferred Stock Series C warrants 1,286     1,286
Series A, B C [Member]
        
Supplemental disclosure of non-cash financing and investing activities:        
Issuance of Common Stock for Convertible Preferred Stock Series A, B and C $ 67,004     $ 67,004