Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.6.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows used in operating activities:      
Net loss $ (53,530) $ (20,606) $ (38,301)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 769 1,532 1,856
Common stock contribution to 401(k) 785 986 870
Stock-based compensation expense 7,645 9,727 10,772
Revaluation of contingent warrant liabilities (10,464) (17,812) (45,773)
Amortization of debt issuance costs, debt discount and final payment fee on debt 1,451 1,413 2,707
Gain on sale of business in connection with Agenus asset purchase agreement   (3,505)  
Loss on loan extinguishment   429  
Gain on sale of marketable securities (126)    
Unrealized gain on foreign currency exchange (489) (1,870) (2,280)
Impairment of long-lived assets and non-marketable cost method investment 370    
Other 112 (12) 346
Changes in assets and liabilities:      
Trade and other receivables, net 3,532 (761) 472
Prepaid expenses and other current assets 1,034 (28) (662)
Accounts payable and accrued liabilities (3,938) (2,080) (3,753)
Accrued restructuring 3,135 459 (21)
Accrued interest on interest bearing obligations 331 380 (1,444)
Deferred revenue 15,694 356 (2,983)
Other liabilities   500 (88)
Net cash used in operating activities (33,689) (30,892) (78,282)
Cash flows from investing activities:      
Proceeds from sale of marketable securities 622    
Proceeds from maturities of investments     20,000
Purchases of property and equipment (59) (430) (325)
Proceeds from sale of business in connection with Agenus asset purchase agreement   4,862  
Proceeds from sale of property and equipment 49 18  
Net cash provided by investing activities 612 4,450 19,675
Cash flows from financing activities:      
Proceeds from issuance of common stock, net of issuance costs 57 481 41,442
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 – debt (6,890) (6,128) (5,917)
Principal payments – capital lease (109) (41)  
Net cash (used in) provided by financing activities (6,942) 13,801 35,560
Effect of exchange rate on cash (6) (37) (167)
Net decrease in cash and cash equivalents (40,025) (12,678) (23,214)
Cash and cash equivalents at the beginning of the year 65,767 78,445 101,659
Cash and cash equivalents at the end of the year 25,742 65,767 78,445
Supplemental Cash Flow Information:      
Cash paid for interest 2,142 1,927 3,009
Non-cash investing and financing activities:      
Marketable securities received in conjunction with the disposal of business   496  
Equipment acquired through capital lease   323  
Reclassification of contingent warrant liability to equity upon exercise of warrants   (3,552) (2,526)
Issuance of warrants   450 10,258
Interest added to principal balances on long-term debt $ 402 $ 327 $ 313