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, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net loss $ (124,058) $ (71,065) $ (32,743)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 2,575 4,124 5,357
Common stock contribution to 401(k) 828 1,134 1,046
Stock-based compensation expense 5,099 4,284 7,759
Accrued interest on interest bearing obligations 2,284 1,186 1,023
Revaluation of contingent warrant liabilities 61,039 9,172 (3,866)
Restructuring charge related to long-lived assets 0 2,460 0
Amortization of debt discount, final payment fee on debt, and debt issuance costs 2,470 1,958 1,360
Loss on sale costs and retirement of property & equipment 281 29 107
Unrealized loss on foreign currency exchange 662 295 513
Unrealized loss on foreign exchange options 127 714 298
Other non-cash adjustments (20) (11) 0
Changes in assets and liabilities:      
Trade and other receivables, net 4,486 4,064 8,532
Prepaid expenses and other assets 481 (158) (2,469)
Accounts payable and accrued liabilities 2,901 4,485 (2,144)
Deferred revenue (3,399) (3,511) (13,794)
Other liabilities (1,671) 75 (41)
Net cash used in operating activities (45,915) (40,765) (29,062)
Cash flows from investing activities:      
Purchases of investments (19,991) (56,970) 0
Proceeds from maturities of investments 40,000 17,000 0
Net purchase of property and equipment (1,169) (2,509) (3,304)
Proceeds from sale of property and equipment 0 463 0
Net provided by (used in) investing activities 18,840 (42,016) (3,304)
Cash flows from financing activities:      
Proceeds from issuance of common stock, net of issuance costs 84,338 76,498 15,143
Proceeds from the exercise of warrants 2,176 993 0
Proceeds from issuance of long-term debt, net of issuance costs 0 4,434 28,836
Principal payments of debt (3,125) (2,143) 0
Net cash provided financing activities 83,389 79,782 43,979
Effect of exchange rate changes on cash 0 0 (573)
Net increase in cash and cash equivalents 56,314 (2,999) 11,040
Cash and cash equivalents at the beginning of the period 45,345 48,344 37,304
Cash and cash equivalents at the end of the period 101,659 45,345 48,344
Cash paid during the year for:      
Interest 1,262 1,035 0
Income taxes 0 0 15
Non-cash investing and financing activities:      
Issuance of warrants 0 6,390 0
Reclassification of contingent warrant liability to equity upon exercise of warrants (6,171) (940) 0
Interest added to principal balances on long-term debt 935 1,160 669
Investment in Symplmed Pharamaceuticals, LLC 171 0 0
Discount on long-term debt $ 0 $ (55) $ (215)