Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

v2.4.0.8
CONDENSED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities:    
Net income (loss) $ (2,646) $ 11,065
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 176 12
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 (gain) loss on changes in fair value of warrants 1,148 (2,317)
Stock-based compensation 386 635
Changes in operating assets and liabilities:    
Receivables 1,075 795
Prepaid expenses and other assets (12) 484
Accounts payable and other accrued liabilities (1,202) 580
Deferred contract revenue (1,823) (5,948)
Net cash used in operating activities (2,898) (5,516)
Cash flows from investing activities:    
Purchases of furniture and equipment (10) (298)
Net cash used in investing activities (10) (298)
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
Issuance of common stock from the vesting of restricted shares (37) 0
Payments on long-term debt 0 (2,500)
Net cash used in financing activities (37) (1,112)
Net decrease in cash and cash equivalents (2,945) (6,926)
Cash and cash equivalents at beginning of period 11,798 18,102
Cash and cash equivalents at end of period $ 8,853 $ 11,176