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
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows used in operating activities:    
Net loss $ (10,715) $ (8,365)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 147 215
Common stock contribution to 401(k) 506 785
Stock-based compensation expense 1,000 2,306
Revaluation of contingent warrant liabilities   (6,932)
Amortization of debt issuance costs, debt discount and final payment fee on debt 286 354
Loss on extinguishment of debt 515  
Gain on sale of equipment (1,314)  
Unrealized loss on foreign currency exchange 261 559
Other 55 (2)
Changes in assets and liabilities:    
Trade and other receivables, net 33 2,092
Prepaid expenses and other current assets 345 415
Accounts payable and accrued liabilities (3,480) (4,580)
Accrued restructuring costs (1,801) (321)
Accrued interest on interest bearing obligations (76) (6)
Deferred revenue (110) (2,306)
Other liabilities   (500)
Net cash used in operating activities (14,348) (16,286)
Cash flows from investing activities:    
Proceeds from sale of equipment 813  
Purchase of property and equipment   (31)
Net cash provided by (used in) investing activities 813 (31)
Cash flows from financing activities:    
Proceeds from issuance of common and preferred stock, net of issuance costs 25,452  
Principal payments ─ debt (16,380) (3,271)
Payment of final fee related to loan extinguishment (1,150)  
Principal payments ─ capital lease (51) (28)
Net cash provided by (used in) financing activities 7,871 (3,299)
Effect of exchange rate changes on cash (33) 2
Net decrease in cash and cash equivalents (5,697) (19,614)
Cash and cash equivalents at the beginning of the period 25,742 [1] 65,767
Cash and cash equivalents at the end of the period 20,045 46,153
Supplemental Cash Flow Information:    
Cash paid for interest 396 $ 646
Non-cash investing and financing activities:    
Other receivables related to the sale of equipment $ 811  
[1] The condensed consolidated balance sheet as of December 31, 2016 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, 2016.