Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net loss $ (4,687) $ (24,887)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 477 780
Common stock contribution to 401(k) 870 828
Stock-based compensation expense 3,924 1,619
Accrued interest on interest bearing obligations (1,764) 1,586
Revaluation of contingent warrant liabilities (20,002) 12,840
Amortization of debt discount, final payment fee on debt, and debt issuance costs 674 603
Unrealized gain on foreign currency exchange (66) (515)
Unrealized loss on foreign exchange options 122 189
Other non-cash adjustments 1 (4)
Changes in assets and liabilities:    
Trade and other receivables, net (530) 1,997
Prepaid expenses and other assets (923) (802)
Accounts payable and accrued liabilities (5,721) (7,097)
Deferred revenue (524) (111)
Other liabilities (51) (1,554)
Net cash used in operating activities (28,200) (14,528)
Cash flows from investing activities:    
Proceeds from maturities of investments 0 20,000
Net purchase of property and equipment (49) (498)
Net cash (used in) provided by investing activities (49) 19,502
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 3,053 60
Proceeds from the exercise of warrants 35 0
Principal payments of debt (2,792) 0
Net cash provided by financing activities 296 60
Net (decrease) increase in cash and cash equivalents (27,953) 5,034
Cash and cash equivalents at the beginning of the period 101,659 [1] 45,345
Cash and cash equivalents at the end of the period 73,706 50,379
Cash paid for:    
Interest 2,194 333
Non-cash investing and financing activities:    
Reclassification of contingent warrant liability to equity upon exercise of warrants (2,525) 0
Interest added to principal balances on long-term debt $ 0 $ 313
[1] (Note 1) The condensed consolidated balance sheet as of December 31, 2013 has been derived from the audited consolidated financial statements as of that date included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.