Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:      
Net loss $ (15,180) $ (15,203) $ (6,834)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 17 32 85
Amortization of discount on long-term debt 0 1,520 132
Interest on royalty liability (347) 1,309 0
Non-cash (gain) loss on changes in fair value of warrants 1,766 (1,862) 0
Stock-based compensation 2,581 1,177 733
Changes in operating assets and liabilities:      
Receivables (926) (2,495) (1,159)
Prepaid expenses and other assets 149 (542) (44)
Accounts payable (1,022) 2,332 2,122
Other accrued liabilities 417 (744) 308
Deferred contract revenue 14,375 0 0
Net cash provided by (used in) operating activities 1,830 (14,476) (4,657)
Cash flows from investing activities:      
Purchases of furniture and equipment (1,154) (236) (28)
Disposals of furniture and equipment 0 2 0
Net cash used in investing activities (1,154) (234) (28)
Cash flows from financing activities:      
Proceeds from issuance of common stock and warrants, net of issuance costs 7,516 0 0
Proceeds from the exercise of warrants, net of issuance costs 4,897 0 0
Proceeds from royalty financing 0 8,000 0
Proceeds from long-term debt, net 0 16,500 5,000
Payments on long-term debt (393) (7,564) (435)
Net cash provided by financing activities 12,020 16,936 4,565
Net increase (decrease) in cash 12,696 2,226 (120)
Cash at beginning of period 5,406 3,180 3,300
Cash at end of period 18,102 5,406 3,180
Supplemental disclosure of cash flow information      
Interest paid 2,576 1,652 678
Schedule of non-cash transactions      
Retirement of preferred stock upon dissolution of Ingenex, Inc. $ 0 $ 0 $ 1,241