|
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
|
9 Months Ended |
|
Sep. 30, 2012
|
Sep. 30, 2011
|
| Operating activities |
|
|
| Net loss |
$ (5,462) |
$ (9,176) |
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and amortization |
182 |
290 |
| Stock-based compensation |
2,199 |
2,037 |
| Amortization of lease liability |
(186) |
(254) |
| Loss on disposals of fixed assets |
|
1 |
| Amortization of premium on available for sale securities |
466 |
1,044 |
| Changes in operating assets and liabilities: |
|
|
| Prepaid and other current assets |
927 |
216 |
| Other assets |
38 |
|
| Accounts payable |
113 |
49 |
| Accrued and other liabilities |
44 |
(470) |
| Deferred revenue |
|
(6,875) |
| Net cash used in operating activities |
(1,679) |
(13,138) |
| Investing activities |
|
|
| Purchases of property and equipment, net |
(34) |
(42) |
| Purchases of marketable securities |
(12,421) |
(38,276) |
| Maturities of marketable securities |
35,000 |
41,500 |
| Net cash provided by investing activities |
22,545 |
3,182 |
| Financing activities |
|
|
| Proceeds from issuance of common stock, net |
38,512 |
292 |
| Net cash provided by financing activities |
38,512 |
292 |
| Net increase (decrease) in cash and cash equivalents |
59,378 |
(9,664) |
| Cash and cash equivalents at beginning of period |
10,659 |
13,720 |
| Cash and cash equivalents at end of period |
$ 70,037 |
$ 4,056 |