Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

v2.3.0.15
Condensed Consolidated Statements Of Cash Flows (USD $)
In Thousands
 9 Months Ended 64 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Cash flows from operating activities:      
Net loss $ (29,641) $ (8,354) $ (49,855)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 786 1,988 3,229
Acquired in-process research and development 20,706   20,706
Noncash interest expense   236 1,031
Noncash interest expense-related parties   34 286
Contribution of services by stockholder 30 30 130
Issuance of Common Stock to non-employee for services   82 82
Change in fair value of common stock warrant liability   234 234
Change in fair value of embedded conversion feature   831 831
Change in preferred stock warrant liability (115)   (115)
Amortization of deferred financing costs   157 737
Depreciation expense 21 5 40
Changes in operating assets and liabilities:      
Prepaid and other current assets 42 201 97
Interest payable-related parties 19 (38) 19
Accounts payable and accrued expenses-related parties 2 41 49
Accounts payable and accrued expenses 943 137 2,456
Net cash used in operating activities (7,291) (4,818) (20,237)
Cash flows from investing activities:      
Purchase of computer equipment   (5) (41)
Purchase of in-process research and development (3,843)   (3,843)
Net cash used in investing activities (3,843) (5) (3,884)
Cash flows from financing activities:      
Proceeds from PCP notes payable-related party     570
Payment of PCP notes payable-related party   (570) (570)
Proceeds from notes payable-related parties   302 2,221
Proceeds from borrowings under line of credit     80
Payment of line of credit     (80)
Proceeds from Senior Convertible Notes     7,570
Payment of debt issue costs     (737)
Payment of notes payable-related parties     (600)
Proceeds from issuance of Common Stock 80   85
Net cash provided by financing activities 22,980 19,097 50,829
Increase in cash and cash equivalents 11,846 14,274 26,708
Cash and cash equivalents-beginning of period 14,862 1,510  
Cash and cash equivalents-end of period 26,708 15,784 26,708
Supplemental disclosure of cash flow information:      
Cash paid for interest 17 81 123
Supplemental disclosure of non-cash financing and investing activities:      
Assumption of PCP Note related to Aspheia 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   (2,316) (2,291)
Supplemental disclosure of non-cash financing and investing activities:      
Issuance of warrants for Common Stock related to the Convertible Preferred Stock Series A   621 621
Conversion of senior convertible notes principal and interest into Convertible Preferred Stock Series A   8,601 8,601
Conversion of related party notes principal and interest 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 warrants for Series C Preferred Stock related to the Convertible Preferred Stock Series C $ 1,286   $ 1,286