Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
| Operating activities: |
|
|
|
| Net loss |
$ (37,672)
|
$ (54,218)
|
$ (57,394)
|
| Adjustments to reconcile net loss to net cash flows from operating activities |
|
|
|
| Depreciation |
329
|
123
|
207
|
| Accretion of debt discount and loan costs |
500
|
642
|
164
|
| Amortization of intangible assets |
970
|
972
|
1,140
|
| Derivative loss (gain) |
|
13,167
|
(121)
|
| Impairment loss on assets |
|
295
|
|
| Stock-based compensation expense |
14,249
|
6,883
|
3,327
|
| Purchase of Arcion license with common stock |
|
|
2,072
|
| Changes in assets and liabilities: |
|
|
|
| Accounts receivable |
653
|
(347)
|
(2,273)
|
| Inventories |
(730)
|
(1,828)
|
|
| Prepaid expenses and other assets |
(1,365)
|
(2,252)
|
(68)
|
| Accounts payable and accrued expenses |
5,072
|
4,325
|
(656)
|
| Deferred revenue |
14,262
|
3,405
|
(6,500)
|
| Net cash flows from operating activities |
(3,732)
|
(28,833)
|
(60,102)
|
| Investing activities: |
|
|
|
| Purchase of equipment |
(701)
|
(1,603)
|
(77)
|
| Net cash flows from investing activities |
(701)
|
(1,603)
|
(77)
|
| Financing activities: |
|
|
|
| Proceeds from sales of securities, net of costs incurred |
(40)
|
72,662
|
|
| Proceeds from exercise of stock options |
755
|
4,580
|
357
|
| Proceeds from exercise of common stock warrants |
1
|
7,741
|
50
|
| Payment on note payable |
(3,335)
|
(7,333)
|
|
| Proceeds from notes payable |
20,667
|
|
20,000
|
| Return of short swing profits |
6
|
82
|
|
| Payment of deferred financing fees |
(533)
|
|
(241)
|
| Net cash flows from financing activities |
17,521
|
77,732
|
20,166
|
| Net change in cash and cash equivalents |
13,088
|
47,296
|
(40,013)
|
| Cash and cash equivalents at beginning of year |
70,472
|
23,176
|
63,189
|
| Cash and cash equivalents at end of year |
83,560
|
70,472
|
23,176
|
| Cash paid for interest |
$ 1,885
|
$ 1,386
|
742
|
| Cash paid for taxes |
|
|
$ 80
|