Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

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CONDENSED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income (loss) $ (1,804) $ 6,001
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 88 5
Non-cash gain on settlement of long-term debt 0 (1,860)
Non-cash gain on termination of royalty purchase agreement 0 (8,962)
Non-cash loss on changes in fair value of warrants 864 3,045
Stock-based compensation 326 505
Changes in operating assets and liabilities:    
Receivables 738 552
Prepaid expenses and other assets (83) 422
Accounts payable and other accrued liabilities (775) 2,338
Deferred contract revenue (911) (3,750)
Net cash used in operating activities (1,557) (1,704)
Cash flows from investing activities:    
Purchases of furniture and equipment (2) (180)
Net cash used in investing activities (2) (180)
Cash flows from financing activities:    
Proceeds from issuing common stock from the exercise of stock options 0 113
Proceeds from the exercise of warrants, net of issuance costs 0 1,275
Net cash provided by financing activities 0 1,388
Net decrease in cash and cash equivalents (1,559) (496)
Cash and cash equivalents at beginning of period 11,798 18,102
Cash and cash equivalents at end of period $ 10,239 $ 17,606