Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 93 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
Cash flows from operating activities:      
Net loss $ (7,370) $ (8,858) $ (128,712)
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation expense 1,135 1,523 14,549
Acquired in-process research and development 0 0 21,749
Noncash interest expense 515 129 2,949
Noncash interest expense-related parties 0 0 286
Contribution of services by stockholder 0 0 130
Issuance of Common Stock to non-employee for services 0 0 121
Change in fair value of Common Stock warrant liability 0 0 234
Change in fair value of embedded conversion feature 0 0 831
Change in fair value of Preferred Stock warrant liability 0 0 1,407
Depreciation expense 5 3 66
Asset impairment 723 0 723
Changes in operating assets and liabilities:      
Prepaid and other assets (12) 66 (582)
Interest payable (84) 0 25
Accounts payable and accrued expenses (588) (355) 3,810
End of term charge Hercules Note (398) 0 (398)
Net cash used in operating activities (6,074) (7,492) (82,812)
Cash flows from investing activities:      
Purchase of office equipment 0 (2) (135)
Deposit for leasehold improvements 0 0 (373)
Purchase of in-process research and development 0 0 (3,843)
Purchase of investment (250) 0 (250)
Net cash used in investing activities (250) (2) (4,601)
Cash flows from financing activities:      
Proceeds from PCP notes payable-related party 0 0 570
Payment of PCP notes payable-related party 0 0 (570)
Payment of PCP notes payable-Asphelia asset purchase 0 0 (750)
Proceeds from notes payable-related parties 0 0 2,221
Proceeds from issuance of Convertible Preferred Stock Series 0 0 25,784
Payment of costs related to the issuance of Convertible Preferred Stock 0 0 (2,884)
Proceeds from borrowings under line of credit 0 0 80
Payment of line of credit 0 0 (80)
Proceeds from Senior Convertible Notes 0 0 7,570
Payment of debt issue costs 0 0 (737)
Payment of notes payable-related parties 0 0 (600)
Proceeds from issuance of Common Stock 481 11,690 121,933
Payment of costs related to the issuance of Common Stock (32) (343) (4,235)
Cashless Exercise Of Warrants (13,655) 0 0
Payment of debt issue costs associated with Hercules Note 0 0 (288)
Proceeds from IDB Note 14,009 0 14,009
Payment of debt issue costs associated with IDB Note (9) 0 (9)
Transfer of restricted cash (14,009) 0 (14,009)
Net cash (used in)/provided by financing activities (13,215) 11,347 167,395
(Decrease)/Increase in cash and cash equivalents (19,539) 3,853 79,982
Cash and cash equivalents-beginning of period 99,521 40,199 0
Cash and cash equivalents-end of period 79,982 44,052 79,982
Supplemental disclosure of cash flow information:      
Cash paid for interest 534 347 2,483
Supplemental disclosure of non-cash financing and investing activities:      
Assumption of PCP Note related to Asphelia Asset Purchase 0 0 750
Issuance of Restricted Stock 4 0 8
Hercules Note [Member]
      
Supplemental disclosure of non-cash financing and investing activities:      
Issuance of Warrant related to Hercules Note 0 0 323
Series B Convertible Preferred Stock [Member]
      
Supplemental disclosure of non-cash financing and investing activities:      
Issuance of Convertible Preferred Stock Series B for purchase of assets 0 0 16,114
Series C Convertible Preferred Stock [Member]
      
Cash flows from financing activities:      
Payment of costs related to the issuance of Convertible Preferred Stock 0 0 (2,291)
Supplemental disclosure of non-cash financing and investing activities:      
Issuance of Convertible Preferred Stock Series C warrants 0 0 1,286
Series A Convertible Preferred Stock [Member]
      
Cash flows from financing activities:      
Proceeds from issuance of Convertible Preferred Stock Series 0 0 21,681
Supplemental disclosure of non-cash financing and investing activities:      
Issuance of Common Stock warrants related to the Convertible Preferred Stock Series A financing 0 0 621
Conversion of Senior Convertible Notes into Convertible Preferred Stock Series A 0 0 8,601
Conversion of notes payable-related parties into Convertible Preferred Stock Series A 0 0 1,907
Series A, B and C Convertible Preferred Stock [Member]
      
Supplemental disclosure of non-cash financing and investing activities:      
Issuance of Common Stock for Convertible Preferred Stock Series A, B and C $ 0 $ 0 $ 67,004