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
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net income (loss) $ 9,920 $ (14,901)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 19 13
Non-cash gain on settlement of long-term debt (1,860) 0
Non-cash gain on termination of royalty purchase agreement (8,962) 0
Interest on royalty liability 0 778
Non-cash gain (loss) on changes in fair value of warrants (1,306) 1,734
Stock-based compensation 656 2,233
Changes in operating assets and liabilities:    
Receivables 56 190
Prepaid expenses and other assets 425 48
Accounts payable and other accrued liabilities 1,504 639
Deferred contract revenue (8,147) 1,700
Net cash used in operating activities (7,695) (7,566)
Cash flows from investing activities:    
Purchases of furniture and equipment (297) (1,122)
Net cash used in investing activities (297) (1,122)
Cash flows from financing activities:    
Proceeds from issuing common stock from the exercise of stock options 113 0
Proceeds from the exercise of warrants, net of issuance costs 1,275 963
Proceeds from issuing common stock and warrants, net of issuance costs 0 7,516
Payments on long-term debt (2,500) (135)
Net cash provided by (used in) financing activities (1,112) 8,344
Net decrease in cash and cash equivalents (9,104) (344)
Cash and cash equivalents at beginning of period 18,102 5,406
Cash and cash equivalents at end of period $ 8,998 $ 5,062