Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows used in operating activities:      
Net income (loss) $ 14,596 $ (53,530) $ (20,606)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
License fee recognized related to repayment of principal and accrued interest under the Servier Loan (14,346)    
Stock-based compensation expense 7,301 7,645 9,727
Common stock contribution to 401(k) 506 785 986
Depreciation and amortization 304 769 1,532
Amortization of debt issuance costs, debt discount and final payment on debt 444 1,451 1,413
Loss on sublease 800    
Loss on extinguishment of debt 650   429
Unrealized gain on foreign currency exchange   (489) (1,870)
Realized loss (gain) on foreign currency exchange 1,635 (4) (69)
Net gain on sale, disposal and impairment of equipment (1,068)    
Revaluation of contingent warrant liabilities   (10,464) (17,812)
Gain on sale of marketable securities   (126)  
Impairment of non-marketable cost method investment   370  
Gain on sale of business in connection with Agenus asset purchase agreement     (3,505)
Other 61 116 57
Changes in assets and liabilities:      
Trade and other receivables, net 169 3,532 (761)
Prepaid expenses and other current assets 106 1,034 (28)
Accounts payable and accrued liabilities (6,554) (3,938) (2,080)
Accrued restructuring costs (3,464) 3,135 459
Accrued interest on interest bearing obligations 272 331 380
Deferred revenue (363) 15,694 356
Income taxes payable 1,637    
Other liabilities     500
Net cash provided by (used in) operating activities 2,686 (33,689) (30,892)
Cash flows from investing activities:      
Purchases of property and equipment (8) (59) (430)
Proceeds from sale of property and equipment 1,614 49 18
Proceeds from sale of marketable securities   622  
Proceeds from sale of business in connection with Agenus asset purchase agreement     4,862
Net cash provided by investing activities 1,606 612 4,450
Cash flows from financing activities:      
Proceeds from issuance of convertible preferred stock, net of issuance costs 20,019    
Proceeds from issuance of common stock, net of issuance costs 10,160 57 171
Proceeds from exercise of options 1,550   363
Proceeds from exercise of warrants     1
Proceeds from issuance of long term debt     20,000
Debt issuance costs and loan fees     (512)
Principal payments – debt (16,380) (6,890) (6,128)
Payment of final fee related to loan extinguishment (1,150)    
Principal payments – capital lease (51) (109) (41)
Taxes paid related to net share settlement of equity awards (890)   (53)
Net cash provided by (used in) financing activities 13,258 (6,942) 13,801
Effect of exchange rate changes on cash 179 (6) (37)
Net increase (decrease) in cash and cash equivalents 17,729 (40,025) (12,678)
Cash and cash equivalents at the beginning of the year 25,742 65,767 78,445
Cash and cash equivalents at the end of the year 43,471 25,742 65,767
Supplemental Cash Flow Information:      
Cash paid for interest 545 2,142 1,927
Non-cash investing and financing activities:      
Marketable securities received in conjunction with the disposal of business     496
Equipment acquired through capital lease 45   323
Reclassification of contingent warrant liability to equity upon exercise of warrants     (3,552)
Issuance of warrants     450
Interest added to principal balances on long-term debt 487 $ 402 $ 327
Exchange of loan payable for license agreement $ 14,346