|
Condensed Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2014
|
Mar. 31, 2013
|
| Cash flows from operating activities: |
|
|
| Net income (loss) |
$ 26,638 |
$ 8,829 |
| Depreciation of property and equipment |
3,570 |
822 |
| Loss (gain) on disposal of property, equipment and inventory |
3 |
92 |
| Grants recognized in other income and income from operations |
(168) |
(168) |
| Remeasurement of acquisition liabilities and royalty agreement |
17,633 |
2,976 |
| Stock compensation expense |
772 |
496 |
| Income tax |
(2,807) |
(1,492) |
| Increase (decrease) in cash from: |
|
|
| Accounts receivable |
2,153 |
63 |
| Inventory |
(1,369) |
(415) |
| Prepaid expenses and other current assets |
136 |
520 |
| Research and development tax credit receivable |
6,462 |
(1,371) |
| Accounts payable |
(1,672) |
102 |
| Deferred revenue |
(1,239) |
(519) |
| Accrued expenses |
17 |
(203) |
| Other current liabilities |
213 |
303 |
| Other long-term assets and liabilities |
536 |
25 |
| Net cash provided by (used in) operating activities |
(2,398) |
(7,598) |
| Cash flows from investing activities: |
|
|
| Purchases of property and equipment |
(399) |
(422) |
| Proceeds from disposal of property and equipment |
3 |
1 |
| Purchase of marketable securities |
(27,752) |
0 |
| Proceeds from sales of marketable securities |
357 |
5,018 |
| Net cash provided by (used in) investing activities |
(27,791) |
4,597 |
| Cash flows from financing activities: |
|
|
| Proceeds from loan or conditional grants |
0 |
14,407 |
| Reimbursment of loan |
(34,288) |
0 |
| Earnout payments for acquisition including related parties |
0 |
(66) |
| Principal payments on capital lease obligations |
(26) |
(19) |
| Cash proceeds from issuance of ordinary shares and warrants |
114,388 |
0 |
| Net cash provided by (used in) financing activities |
80,074 |
14,322 |
| Effect of exchange rate changes on cash and cash equivalents |
(1,015) |
(52) |
| Net increase (decrease) in cash and cash equivalents |
48,870 |
11,269 |
| Cash and cash equivalents, beginning of period |
6,636 |
2,742 |
| Cash and cash equivalents, end of period |
55,505 |
14,011 |
| Supplemental disclosures of cash flow information: |
|
|
| Income tax paid |
39 |
0 |
| Interest paid |
$ 5,602 |
$ 0 |