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, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income (loss) $ 15,915 $ (36,050)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation 289 603
Common stock contribution to 401(k) plan 506 785
Stock-based compensation expense 4,893 6,200
Revaluation of contingent warrant liabilities   (10,455)
Amortization of debt issuance costs, debt discount and final payment fee on debt 444 1,075
Loss on extinguishment of debt 650  
Gain on sale of marketable securities   (126)
Net gain on sale and disposal of equipment (1,123)  
Unrealized loss on foreign currency exchange 1,447 384
Other 262 79
Changes in assets and liabilities:    
Trade and other receivables, net (460) 3,313
Prepaid expenses and other assets 493 676
Accounts payable and accrued liabilities (4,247) (4,100)
Accrued restructuring costs (3,150) (440)
Accrued interest on interest bearing obligations 143 175
Income taxes payable 1,706  
Deferred revenue (9,857) (2,306)
Other liabilities   (500)
Net cash provided by (used in) operating activities 7,911 (40,687)
Cash flows from investing activities:    
Proceeds from sale of property and equipment 1,614 45
Proceeds from sale of marketable securities   622
Purchase of property and equipment (24) (31)
Net cash provided by investing activities 1,590 636
Cash flows from financing activities:    
Proceeds from issuance of common and preferred stock, net of issuance costs 29,959 45
Principal payments ─ debt (16,380) (5,057)
Payment of final fee related to loan extinguishment (1,150)  
Principal payments ─ capital lease (51) (84)
Taxes paid related to net share settlement of equity awards (41)  
Net cash provided by (used in) financing activities 12,337 (5,096)
Effect of exchange rate changes on cash 167 (2)
Net increase (decrease) in cash and cash equivalents 22,005 (45,149)
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 47,747 20,618
Supplemental cash flow information:    
Cash paid for interest 518 1,724
Non-cash investing and financing activities:    
Repayment of principal and accrued interest under the Servier loan 14,346  
Interest added to principal balance on long-term debt $ 236 $ 194
[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.