|
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| Operating activities |
|
|
|
| Net loss |
$ (66,720) |
$ (69,949) |
$ (48,597) |
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
| Depreciation and amortization |
1,327 |
1,207 |
1,303 |
| Amortization of intangible assets |
0 |
0 |
299 |
| Loss (gain) on disposal of property and equipment |
18 |
8 |
20 |
| Accretion of discounts and amortization of premiums of marketable securities |
923 |
1,298 |
1,172 |
| Interest associated with long-term note payable to Symphony Dynamo Holdings LLC (“Holdings) |
|
2,190 |
1,871 |
| Fair value adjustment of the warrant and contingent liabilities to Holdings, including the impact of the anti-dilution provision associated with the common stock and warrants issued to Symphony Capital Partners, L.P. and Symphony Strategic Partners, LLC (collectively, "Symphony") |
|
|
(843) |
| Unoccupied facility expense |
926 |
|
|
| Stock compensation expense |
12,340 |
10,439 |
5,189 |
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable |
(622) |
8,522 |
(8,526) |
| Prepaid expenses and other current assets |
677 |
(922) |
230 |
| Restricted cash and other assets |
176 |
(116) |
(290) |
| Accounts payable |
(657) |
126 |
(289) |
| Accrued liabilities and other long term liabilities |
(2,291) |
1,916 |
(2,167) |
| Deferred revenues |
(4,770) |
1,472 |
3,512 |
| Net cash used in operating activities |
(58,673) |
(43,809) |
(47,116) |
| Investing activities |
|
|
|
| Purchases of marketable securities |
(192,044) |
(206,149) |
(111,205) |
| Proceeds from maturities of marketable securities |
142,321 |
169,387 |
77,729 |
| Purchases of property and equipment, net |
(1,629) |
(2,931) |
(1,142) |
| Net cash used in investing activities |
(51,352) |
(39,693) |
(34,618) |
| Financing activities |
|
|
|
| Proceeds from issuances of common stock |
80,856 |
71,780 |
91,298 |
| Proceeds from issuances of preferred stock |
44,209 |
|
|
| Proceeds from issuances of warrants |
|
|
|
| Proceeds from exercise of stock options and restricted stock awards |
112 |
1,955 |
10 |
| Proceeds from employee stock purchase plan |
224 |
307 |
132 |
| Payment of notes payable to Holdings |
|
(15,000) |
|
| Net cash provided by financing activities |
125,401 |
59,042 |
91,440 |
| Effect of exchange rate changes on cash and cash equivalents |
147 |
118 |
(218) |
| Net increase (decrease) in cash and cash equivalents |
15,523 |
(24,342) |
9,488 |
| Cash and cash equivalents at beginning of year |
7,599 |
31,941 |
22,453 |
| Cash and cash equivalents at end of year |
23,122 |
7,599 |
31,941 |
| Non-cash investing and financing activities: |
|
|
|
| Disposal of fully depreciated property and equipment |
86 |
169 |
1,181 |
| Net change in unrealized (loss) gain on marketable securities |
$ (76) |
$ 48 |
$ 14 |