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
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net loss $ (16,584) $ (42,135)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 941 1,413
Common stock contribution to 401(k) 870 828
Stock-based compensation expense 6,348 2,719
Accrued interest on interest bearing obligations (1,570) 1,757
Revaluation of contingent warrant liabilities (27,964) 14,621
Amortization of debt discount, final payment fee on debt, and debt issuance costs 1,362 1,214
Loss on sale costs and retirement of property and equipment 0 281
Unrealized gain on foreign currency exchange (241) (265)
Unrealized loss on foreign exchange options 239 192
Other non-cash adjustments (2) 12
Changes in assets and liabilities:    
Trade and other receivables, net (1,728) 974
Prepaid expenses and other assets (491) (880)
Accounts payable and accrued liabilities (5,179) (4,128)
Deferred revenue (1,019) (713)
Other liabilities (81) (1,662)
Net cash used in operating activities (45,099) (25,772)
Cash flows from investing activities:    
Proceeds from maturities of investments 10,000 40,000
Net purchase of property and equipment (80) (859)
Net cash provided by investing activities 9,920 39,141
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 3,213 262
Proceeds from the exercise of warrants 35 0
Principal payments of debt (3,833) (1,042)
Net cash provided by financing activities (585) (780)
Net (decrease) increase in cash and cash equivalents (35,764) 12,589
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 65,895 57,934
Cash paid for:    
Interest 2,413 679
Non-cash investing and financing activities:    
Reclassification of contingent warrant liability to equity upon exercise of warrants (2,526) (4)
Interest added to principal balances on long-term debt $ 157 $ 479
[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.