Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash Flows from Operating Activities:      
Net Loss $ (53,883) $ (20,386) $ (37,158)
Reconciliation of net loss to net cash used in operating activities:      
Depreciation expenses 26 23 17
Noncash interest expense 167 634 536
Amortization of debt discount 314 0 0
Stock-based compensation expense 14,291 5,546 5,902
Issuance of subsidiaries' common shares for license expenses 958 0 0
Research and development licenses acquired, expensed 10,448 0 0
Change in fair value of investments 1,675 (942) 0
Change in fair value of subsidiary's warrant liabilities 438 0 0
Asset impairment loss 0 722 0
Increase (decrease) in cash and cash equivalents resulting from changes in operating assets and liabilities:      
Prepaid expenses and other current assets (895) (139) (117)
Accounts payable and accrued expenses 5,889 (849) 1,184
Interest payable (1) (81) (10)
End of term fee associated with Hercules Note 0 (398) 0
Other long-term liabilities 195 (464) 0
Net cash used in Operating Activities (20,378) (16,334) (29,646)
Cash Flows from Investing Activities:      
Purchase of marketable securities (79,947) (20,002) 0
Sale of marketable securities 99,949 0 0
Purchase of short- term investment 0 (346) 0
Purchase of research and development licenses (10,448) 0 0
Purchase of long-term investment 0 (2,925) 0
Purchase of property and equipment (283) 0 (40)
Deposit for leasehold improvements 0 0 (148)
Purchase of license (1,250) 0 0
Security deposits refund 22 0 0
Payment to related parties - CB Pharma Acquisition Corp (158) 0 0
Net cash provided by (used in) investing activities 7,885 (23,273) (188)
Cash Flows from Financing Activities:      
Payment of Hercules Note 0 (13,654) (1,345)
Proceeds from issuance of common stock 0 3,502 91,337
Proceeds from exercise of stock options 216 596 970
Proceeds from issuance of common stock under ESPP 59 19 92
Proceeds from subsidiary's offering 57,817 0 0
Payment of costs related to subsidiary's offering (6,321) 0 0
Payment of costs related to the issuance of common stock 0 (32) (1,898)
Proceeds from IDB note 0 14,009 0
Payment of debt issue costs associated with IDB Note 0 (9) 0
Proceeds from NSC note 10,000 0 0
Payment of debt issue costs associated with NSC Note (855) 0 0
Transfer of restricted cash 0 (14,586) 0
Net cash provided by (used in) financing activities 60,916 (10,155) 89,156
Net increase (decrease) in cash and cash equivalents 48,423 (49,762) 59,322
Cash and cash equivalents at beginning of period 49,759 99,521 40,199
Cash and cash equivalents at end of period 98,182 49,759 99,521
Supplemental disclosure of cash flow information:      
Cash paid for interest 80 785 1,387
Supplemental disclosure of non-cash financing and investing activities:      
Issuance of restricted stock 1 4 4
Issuance of warrant liabilities in conjunction with NSC debt 114 0 0
Restricted Stock [Member]      
Supplemental disclosure of non-cash financing and investing activities:      
Issuance of warrant liabilities in conjunction with NSC debt $ 175 $ 0 $ 0