|
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
|
9 Months Ended |
|
Sep. 30, 2014
|
Sep. 30, 2013
|
| Cash flows from operating activities: |
|
|
| Net loss |
$ (24,043) |
$ (19,586) |
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and amortization |
1,314 |
1,041 |
| Stock-based compensation |
2,045 |
5,195 |
| Change in fair value of warrant liability |
|
273 |
| Other non-cash operating activities, net |
55 |
93 |
| Increase (decrease) in cash and cash equivalents from: |
|
|
| Accounts receivable |
(1,172) |
(1,384) |
| Prepaid expenses and other current assets |
731 |
(870) |
| Accounts payable and accrued expenses |
767 |
737 |
| Deferred revenue |
(1,665) |
7,305 |
| Net cash used in operating activities |
(21,968) |
(7,196) |
| Cash flows from investing activities: |
|
|
| Purchases of property and equipment |
(2,588) |
(1,826) |
| Proceeds from sales of short-term investments |
11,759 |
|
| Proceeds from maturities of short-term investments |
18,455 |
|
| Purchases of short-term investments |
(31,889) |
|
| Proceeds from repayment of stockholder loans |
|
712 |
| Other investing activities, net |
(184) |
77 |
| Net cash used in investing activities |
(4,447) |
(1,037) |
| Cash flows from financing activities: |
|
|
| (Payments) proceeds of initial public offering, net |
(265) |
63,942 |
| Proceeds from issuance of common stock |
234 |
228 |
| Payments under capital lease |
(38) |
(38) |
| Borrowings under credit facility |
|
4,500 |
| Repayments of credit facility |
(806) |
(3,326) |
| Net cash (used in) provided by financing activities |
(875) |
84,088 |
| Effect of exchange rate on cash |
(562) |
(26) |
| (Decrease) increase in cash and cash equivalents |
(27,852) |
75,829 |
| Cash and cash equivalents-Beginning of year |
51,612 |
4,886 |
| Cash and cash equivalents-End of period |
23,760 |
80,715 |
| Noncash investing activities: |
|
|
| Property and equipment purchases included in accounts payable |
21 |
160 |
| Noncash financing activities: |
|
|
| Accretion of redeemable convertible preferred stock |
|
3,704 |
| Conversion of redeemable convertible preferred stock to common stock |
|
83,515 |
| Initial public offering costs incurred but unpaid at period end |
|
1,418 |
| Supplementary cash flow information-Interest paid |
486 |
309 |
|
Series D Redeemable Convertible Preferred Stock [Member]
|
|
|
| Cash flows from financing activities: |
|
|
| Proceeds from issuance of Series D and BRN redeemable convertible preferred stock-net |
|
17,282 |
|
Series BRN Preferred Stock [Member]
|
|
|
| Cash flows from financing activities: |
|
|
| Proceeds from issuance of Series D and BRN redeemable convertible preferred stock-net |
|
$ 1,500 |