Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
| Operating activities |
|
|
| Net loss |
$ (21,742)
|
$ (19,447)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Net income from discontinued operations |
0
|
(219)
|
| Depreciation |
34
|
23
|
| Amortization of intangibles |
0
|
123
|
| Stock-based compensation |
3,168
|
2,860
|
| Amortization of premium on marketable securities |
40
|
321
|
| Amortization of debt discount |
144
|
31
|
| Changes in operating assets and liabilities: |
|
|
| Prepaid expenses and other assets |
(97)
|
354
|
| Accounts payable |
1,354
|
73
|
| Accrued and other liabilities |
244
|
531
|
| Net cash used in continuing operating activities |
(16,855)
|
(15,131)
|
| Net cash provided by discontinued operating activities |
0
|
219
|
| Net cash used in continuing operating activities |
(16,855)
|
(15,350)
|
| Investing activities |
|
|
| Purchases of property and equipment |
(3)
|
(71)
|
| Purchases of marketable securities |
(7,004)
|
(23,320)
|
| Proceeds from maturities of marketable securities |
11,134
|
38,952
|
| Deposits on equipment |
0
|
(18)
|
| Net cash provided by investing activities |
4,127
|
15,543
|
| Financing activities |
|
|
| Proceeds from sale of common stock, net of underwriting discounts and issuance cost |
5,996
|
2,480
|
| Proceeds from notes payable, net |
0
|
9,748
|
| Proceeds from exercise of common stock options |
26
|
0
|
| Net cash provided by financing activities |
6,022
|
12,228
|
| Net (decrease) increase in cash and cash equivalents |
(6,706)
|
12,640
|
| Cash and cash equivalents—beginning of period |
35,921
|
10,127
|
| Cash and cash equivalents—end of period |
29,215
|
22,767
|
| Supplemental disclosures of cash flow information |
|
|
| Cash paid for interest |
621
|
71
|
| Supplemental schedule of noncash investing and financing activities |
|
|
| Fair value of warrants issued in connection with notes payable |
0
|
317
|
| Issuance costs related to at the market equity program in accounts payable and accrued expenses |
0
|
23
|
| Unrealized gain on investments |
$ 4
|
$ 30
|