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
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (45,477) $ (16,584)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 902 941
Common stock contribution to 401(k) 986 870
Stock-based compensation expense 6,354 6,348
Revaluation of contingent warrant liabilities 216 (27,964)
Amortization of debt discount, final payment fee on debt, and debt issuance costs 656 1,362
Loss on loan extinguishment 429 0
Unrealized gain on foreign currency exchange (1,571) (241)
Unrealized loss on foreign exchange options 6 239
Other non-cash adjustments 0 (2)
Changes in assets and liabilities:    
Trade and other receivables, net 660 (1,728)
Prepaid expenses and other current assets (258) (491)
Accounts payable and accrued liabilities (3,954) (5,179)
Accrued interest on interest bearing obligations 210 (1,570)
Deferred revenue (342) (1,019)
Other liabilities 556 (81)
Net cash used in operating activities (40,627) (45,099)
Cash flows from investing activities:    
Proceeds from maturities of investments 0 10,000
Net purchase of property and equipment (406) (80)
Net cash (used in) provided by investing activities (406) 9,920
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 211 3,213
Proceeds from exercise of warrants 1 35
Proceeds from issuance of long term debt 20,000 0
Debt issuance costs and loan fees (512) 0
Principal payments of debt (6,128) (3,833)
Net cash provided by (used in) financing activities 13,572 (585)
Effect of exchange rate changes on cash (27) 0
Net decrease in cash and cash equivalents (27,488) (35,764)
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 50,957 65,895
Cash paid for:    
Interest 792 2,413
Non-cash financing activities:    
Reclassification of contingent warrant liability to equity upon exercise of warrants (3,088) (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 $ 0
[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.