Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating Activities:      
Net loss $ (20,129) $ (16,801) $ (26,240)
Adjustments to reconcile net loss to net cash used in operating activities:      
Gain on warrants [note 5 and note 10[e]] (873) (1,897) (3,741)
Warrant issuance costs     531
Depreciation 188 244 223
Asset impairment charge [note 6] 202    
Stock-based compensation [note10[c]] 1,649 2,328 3,860
Restructuring gain [note 7]     (3,517)
Changes in operating assets and liabilities:      
Interest receivable 79 2 105
Amounts receivable (464) 5,662 2,981
Prepaid expenses and other assets 1,057 1,167 3,944
Accounts payable 778 1,271 (67)
Accrued liabilities other 1,801 (222) 363
Accrued clinical liabilities (6,551) (3,714) 2,178
Accrued compensation (1,079) (66) (372)
Restricted cash   (21) 63
Excess lease liability [note 7]   (194) (785)
Lease obligation (51) 100 (84)
Lease termination fees [note 12] (1,250) (2,000) 3,250
Deferred collaboration revenue [note 4] (5,040) 5,040  
Net cash used in operating activities (29,683) (9,101) (17,308)
Financing Activities:      
Proceeds from the exercise of stock options   14 30
Taxes paid related to net share settlement of equity awards (2) (52) (29)
Issuance of common shares, net of share issuance costs     22,372
Net cash provided by (used in) financing activities (2) 17,591 25,247
Investing Activities:      
Purchase of investments (36,504) (24,368) (19,446)
Proceeds from sale of investments   1,003  
Proceeds from maturities of investments 47,158 21,659 24,894
Purchase of property and equipment (46) (371) (82)
Net cash provided by (used in) investing activities 10,608 (2,077) 5,366
Effect of exchange rate changes on cash     (1)
Net increase (decrease) in cash and cash equivalents (19,077) 6,413 13,304
Cash and cash equivalents at beginning of year 34,310 27,897 14,593
Cash and cash equivalents at end of year $ 15,233 34,310 27,897
Supplemental Disclosure of Cash Flow Information:      
Property and equipment received and accrued but not yet paid   218  
ATM Financing      
Financing Activities:      
Proceeds from ATM Financing, net of issuance costs   $ 17,629 $ 2,874