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v2.4.0.8
STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Operating activities    
Net loss $ (20,548) $ (23,548)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 199 313
Accretion of investment discounts and amortization of investment premiums, net 216 314
Stock-based compensation expense 2,684 3,344
Changes in assets and liabilities:    
Accounts receivable (292)  
Prepaids and other current and noncurrent assets (519) (2,501)
Inventories 53  
Accounts payable 3,048 1,611
Accrued compensation 314 (1,995)
Accrued restructuring charges   (445)
Accrued preclinical and clinical costs 106 485
Other accrued liabilities, current and noncurrent 2,501 1,002
Deferred revenue, current and noncurrent (283) (379)
Net cash used in operating activities (12,521) (21,799)
Investing activities    
Purchases of investments (90,148) (34,242)
Proceeds from maturities of investments 23,357 42,662
Purchases of property and equipment   (168)
Net cash provided by (used in) investing activities (66,791) 8,252
Financing activities    
Net cash proceeds provided by (used in) issuance of common stock and exercise of stock options 76,546 (1,576)
Net cash provided by (used in) financing activities 76,546 (1,576)
Net decrease in cash and cash equivalents (2,766) (15,123)
Cash and cash equivalents at beginning of period 20,584 36,134
Cash and cash equivalents at end of period $ 17,818 $ 21,011