Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating Activities:    
Net loss $ (10,527) $ (15,651)
Adjustments to reconcile net loss to net cash used in operating activities:    
(Gain) loss on warrants (35) 106
Depreciation 116 110
Stock-based compensation [note 5 [c] and note 5 [d]] 1,228 2,016
Changes in operating assets and liabilities:    
Interest receivable 37 218
Amounts receivable 5,527 3,706
Prepaid expenses and other assets 842 3,319
Accounts payable 230 1,202
Accrued liabilities other (1,909) 1,465
Accrued clinical liabilities (2,984)  
Accrued compensation (81) (724)
Restricted cash 61 63
Excess lease liability [note 6] (194) (383)
Lease obligation 127 (51)
Deferred collaboration revenue [Note 3] 17,778  
Net cash (used in) provided by operating activities 10,216 (4,604)
Financing Activities:    
Proceeds from the exercise of stock options   30
Proceeds received in advance related to the July 2014 registered offering   3,174
Proceeds from issuance of common shares, net of issuance costs   2,860
Proceeds from purchase agreement with Lincoln Park Capital, net of issuance costs [note 5 [b]] 3,213  
Taxes paid related to net share settlement of equity awards (52)  
Net cash provided by financing activities 3,161 6,064
Investing Activities:    
Purchase of investments (2,025) (215)
Proceeds from sale of investments 1,003  
Proceeds from maturities of investments 8,012 24,845
Purchase of property and equipment (265) (67)
Net cash provided by investing activities 6,725 24,563
Effect of exchange rate changes on cash 2 (2)
Net increase (decrease) in cash and cash equivalents 20,104 26,021
Cash and cash equivalents at beginning of period 27,897 14,593
Cash and cash equivalents at end of period 48,001 $ 40,614
Non cash financing activities    
Issued common stock in consideration for the purchase agreement with Lincoln Park Capital [note 5] $ 254