Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (unaudited)

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Condensed Statements of Cash Flows (unaudited) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net income (loss) $ 11,065 $ (6,887)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 12 9
Non-cash gain on settlement of long-term debt (1,860)   
Non-cash gain on termination of royalty purchase agreement (8,962)   
Interest on royalty liability   540
Non-cash gain on changes in fair value of warrants (2,317) (1,939)
Stock-based compensation 635 1,868
Changes in operating assets and liabilities:    
Receivables 795 (190)
Prepaid expenses and other assets 484 31
Accounts payable and other accrued liabilities 580 1,379
Deferred contract revenue (5,948)   
Net cash used in operating activities (5,516) (5,189)
Cash flows from investing activities:    
Purchases of furniture and equipment (298) (989)
Net cash used in investing activities (298) (989)
Cash flows from financing activities:    
Proceeds from issuing common stock from the exercise of stock options 113   
Proceeds from the exercise of warrants, net of issuance costs 1,275   
Proceeds from issuing common stock and warrants, net of issuance costs   4,966
Payments on long-term debt (2,500) (90)
Net cash provided by (used in) financing activities (1,112) 4,876
Net decrease in cash and cash equivalents (6,926) (1,302)
Cash and cash equivalents at beginning of period 18,102 5,406
Cash and cash equivalents at end of period $ 11,176 $ 4,104