Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 81 Months Ended
Mar. 31, 2013
Mar. 31, 2013
Cash flows from operating activities:    
Net loss $ (8,858) $ (93,042)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 1,523 9,035
Acquired in-process research and development    21,749
Noncash interest expense 129 2,027
Noncash interest expense-related parties   286
Contribution of services by stockholder   130
Issuance of Common Stock to non-employee for services   121
Change in fair value of Common Stock warrant liability   234
Change in fair value of embedded conversion feature   831
Change in fair value of preferred stock warrant liability   1,407
Depreciation expense 3 47
Changes in operating assets and liabilities:    
Prepaid and other assets 66 (387)
Interest payable   119
Accounts payable and accrued expenses (355) 2,859
Net cash used in operating activities (7,492) (54,584)
Cash flows from investing activities:    
Purchase of office equipment (2) (97)
Deposit for leasehold improvements   (225)
Purchase of in-process research and development   (3,843)
Net cash used in investing activities (2) (4,165)
Cash flows from financing activities:    
Proceeds from PCP notes payable-related party   570
Payment of PCP notes payable-related party   (570)
Payment of PCP notes payable - Asphelia asset purchase   (750)
Proceeds from notes payable-related parties   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 11,690 40,743
Payment of costs related to the issuance of Common Stock (343) (2,648)
Net cash provided by financing activities 11,347 102,801
Increase/(decrease) in cash and cash equivalents 3,853 44,052
Cash and cash equivalents-beginning of period 40,199   
Cash and cash equivalents-end of period 44,052 44,052
Supplemental disclosure of cash flow information:    
Cash paid interest paid 347 909
Supplemental disclosure of non-cash financing and investing activities:    
Assumption of PCP Note related to Asphelia Asset Purchase   750
Hercules Note
    
Cash flows from financing activities:    
Payment of debt issue costs   (288)
Proceeds from issuance of Hercules Note   15,000
Supplemental disclosure of non-cash financing and investing activities:    
Issuance of Warrant related to Hercules Note   323
Series A Convertible Preferred Stock
    
Cash flows from financing activities:    
Proceeds from issuance of Convertible Preferred Stock   21,681
Payment of costs related to the issuance of Convertible Preferred Stock   (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
Conversion of Senior Convertible Notes into Convertible Preferred Stock Series A   8,601
Conversion of notes payable - related parties into Convertible Preferred Stock Series A   1,907
Series B Convertible Preferred Stock
    
Supplemental disclosure of non-cash financing and investing activities:    
Issuance of Convertible Preferred Stock Series B for purchase of assets   16,114
Series C Convertible Preferred Stock
    
Cash flows from financing activities:    
Proceeds from issuance of Convertible Preferred Stock   25,784
Payment of costs related to the issuance of Convertible Preferred Stock   (2,884)
Supplemental disclosure of non-cash financing and investing activities:    
Issuance of Convertible Preferred Stock Series C warrants   1,286
Series A, B and C Convertible Preferred Stock
    
Supplemental disclosure of non-cash financing and investing activities:    
Issuance of Common Stock for Convertible Preferred Stock Series A, B and C   $ 67,004