Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v2.3.0.15
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
OPERATING ACTIVITIES    
Net loss (income) $ (5,104) $ (9,784)
Add items not involving cash    
Depreciation and amortization 56 39
Stock-based compensation [note 5(c)] 866 462
Restructuring expense [note 6]   4,038
Change in value of warrants [note 4, note 5] (9,021)  
Changes in non-cash items    
Amounts receivable 237 (486)
Restricted cash 125 (502)
Prepaid expenses (865) (308)
Accounts payable and accrued liabilities 572 (12,330)
Lease obligation (103) (774)
Deferred collaboration revenue (2,586) (3,485)
Cash used in operating activities (15,823) (23,130)
FINANCING ACTIVITIES    
Proceeds from issuance of common stock under stock option and employee purchase plans 213 674
Cash provided by financing activities 213 674
INVESTING ACTIVITIES    
Proceeds from sale of investments 68,521 12,302
Purchase of investments (60,590) (40,086)
Purchase of property and equipment (76) (37)
Cash provided by (used in) investing activities 7,855 (27,821)
Effect of exchange rate changes on cash and cash equivalents (55) 7
Decrease in cash and cash equivalents during the period (7,810) (50,270)
Cash and cash equivalents, beginning of the period 23,533 62,051
Cash and cash equivalents, end of the period 15,723 11,781
Supplemental cash flow information    
Property and equipment acquired under lease obligation $ 90