Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating Activities:      
Net loss $ (16,801) $ (26,240) $ (31,849)
Adjustments to reconcile net loss to net cash used in operating activities:      
Gain on warrants (1,897) (3,741) (3,208)
Warrant issuance costs   531  
Depreciation 244 223 227
Stock-based compensation [note10[c]] 2,328 3,860 2,834
Restructuring gain [note 7]   (3,517)  
Changes in operating assets and liabilities:      
Interest receivable 2 105 109
Amounts receivable 5,662 2,981 (7,943)
Prepaid expenses and other assets 1,167 3,944 (1,974)
Accounts payable 1,271 (67) (1,190)
Accrued liabilities other (222) 363 41
Accrued clinical liabilities (3,714) 2,178 7,563
Accrued compensation (66) (372) 164
Restricted cash (21) 63  
Excess lease liability [note 7] (194) (785) (680)
Lease obligation 100 (84) (21)
Lease termination fees [note 12] (2,000) 3,250  
Deferred collaboration revenue 5,040    
Net cash used in operating activities (9,101) (17,308) (35,927)
Financing Activities:      
Proceeds from the exercise of stock options 14 30 10
Taxes paid related to net share settlement of equity awards (52) (29)  
Issuance of common shares, net of share issuance costs   22,372  
Net cash provided by financing activities 17,591 25,247 10
Investing Activities:      
Purchase of investments (24,368) (19,446) (31,696)
Proceeds from sale of investments 1,003   1,000
Proceeds from maturities of investments 21,659 24,894 63,375
Purchase of property and equipment (371) (82) (253)
Net cash provided by (used in) investing activities (2,077) 5,366 32,426
Effect of exchange rate changes on cash   (1) 9
Net increase (decrease) in cash and cash equivalents 6,413 13,304 (3,482)
Cash and cash equivalents at beginning of year 27,897 14,593 18,075
Cash and cash equivalents at end of year 34,310 27,897 14,593
Supplemental Disclosure of Cash Flow Information:      
Property and equipment received and accrued but not yet paid 218    
Property and equipment acquired under lease obligation     $ 24
ATM Financing      
Financing Activities:      
Proceeds from ATM Financing, net of issuance costs $ 17,629 $ 2,874