|
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
|
6 Months Ended |
|
Jun. 30, 2012
|
Jun. 30, 2011
|
| Operating activities |
|
|
| Net loss |
$ (10,317) |
$ (4,185) |
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and amortization |
129 |
216 |
| Stock-based compensation |
1,459 |
1,358 |
| Amortization of lease liability |
(172) |
(197) |
| Amortization of premiums on available for sale securities |
354 |
781 |
| Changes in operating assets and liabilities: |
|
|
| Prepaid and other current assets |
438 |
83 |
| Other assets |
38 |
|
| Accounts payable |
25 |
593 |
| Accrued and other liabilities |
(134) |
(227) |
| Deferred revenue |
|
(6,250) |
| Net cash used in operating activities |
(8,180) |
(7,828) |
| Investing activities |
|
|
| Purchases of property and equipment, net |
(12) |
(40) |
| Purchases of marketable securities |
(12,421) |
(34,719) |
| Maturities of marketable securities |
20,500 |
33,500 |
| Net cash provided by (used in) investing activities |
8,067 |
(1,259) |
| Financing activities |
|
|
| Proceeds from issuance of common stock, net |
38,448 |
265 |
| Net cash provided by financing activities |
38,448 |
265 |
| Net increase (decrease) in cash and cash equivalents |
38,335 |
(8,822) |
| Cash and cash equivalents at beginning of period |
10,659 |
13,720 |
| Cash and cash equivalents at end of period |
$ 48,994 |
$ 4,898 |