Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
OPERATING ACTIVITIES    
Net loss $ (15,651) $ (15,117)
Adjustments to reconcile net loss to net cash used in operating activities:    
(Gain) loss on warrants 106 (2,335)
Depreciation 110 100
Stock-based compensation [note 5[c] and 5[d]] 2,016 1,603
Changes in operating assets and liabilities:    
Interest receivable 218 27
Amounts receivable 3,706 (5,725)
Prepaid expenses and other current and non-current assets 3,319 140
Accounts payable 1,202 (1,199)
Accrued liabilities 1,465 5,093
Accrued compensation (724) (404)
Restricted Cash 63  
Excess lease liability [note 6] (383) (331)
Lease Obligations (51) (10)
Cash used in operating activities (4,604) (18,158)
FINANCING ACTIVITIES    
Proceeds received in advance [note 8] 3,174  
Proceeds from issuance of common shares, net of issuance costs 2,860  
Proceeds from exercise of stock options 30 10
Cash provided by financing activities 6,064 10
INVESTING ACTIVITIES    
Purchase of investments (215) (30,065)
Proceeds from maturities of investments 24,845 49,130
Purchase of property and equipment (67) (225)
Cash provided by investing activities 24,563 18,840
Effect of exchange rate changes on cash (2) (18)
Increase in cash and cash equivalents during the period 26,021 674
Cash and cash equivalents, beginning of the period 14,593 18,075
Cash and cash equivalents, end of the period $ 40,614 $ 18,749