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
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows used in operating activities:    
Net loss $ (45,958) $ (30,983)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 1,319 1,398
Common stock contribution to 401(k) 986 870
Stock-based compensation expense 8,318 9,885
Revaluation of contingent warrant liabilities (24,206) (33,685)
Amortization of debt discount, final payment fee on debt, and debt issuance costs 1,030 2,041
Loss on loan extinguishment 429  
Gain on sale and retirement of property and equipment (18)  
Unrealized gain on foreign currency exchange (1,344) (1,541)
Unrealized loss on foreign exchange options 5 326
Other non-cash adjustments   (5)
Changes in assets and liabilities:    
Trade and other receivables, net (36,034) 361
Prepaid expenses and other current assets (1,019) (930)
Accounts payable and accrued liabilities (365) (4,392)
Accrued interest on interest bearing obligations 181 (1,628)
Deferred revenue 36,468 (2,534)
Other liabilities 549 (86)
Net cash used in operating activities (59,659) (60,903)
Cash flows from investing activities:    
Proceeds from maturities of investments   15,000
Net purchase of property and equipment (466) (227)
Proceeds from sale of property and equipment 18  
Net cash (used in) provided by investing activities (448) 14,773
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 360 3,523
Proceeds from exercise of warrants 1 35
Proceeds from issuance of long term debt 20,000  
Debt issuance costs and loan fees (512)  
Principal payments of debt (6,128) (4,875)
Net cash provided by (used in) financing activities 13,721 (1,317)
Effect of exchange rate changes on cash (13) (152)
Net decrease in cash and cash equivalents (46,399) (47,599)
Cash and cash equivalents at the beginning of the period 78,445 [1] 101,659
Cash and cash equivalents at the end of the period 32,046 54,060
Supplemental Cash Flow Information:    
Cash paid for interest 1,452 2,848
Non-cash financing activities:    
Reclassification of contingent warrant liability to equity upon exercise of warrants (3,552) (2,526)
Interest added to principal balances on long-term debt 159 $ 157
Issuance of common stock warrants in connection with Hercules Term Loan $ 450  
[1] The condensed consolidated balance sheet as of December 31, 2014 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, 2014.