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
Operating activities    
Net loss $ (22,303) $ (25,574)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 655 669
Stock-based compensation expense 2,364 1,793
Changes in assets and liabilities:    
Accounts receivable 5,750  
Prepaid and other current assets (94) 1,262
Other assets 44 58
Accounts payable (2,746) 441
Accrued compensation (374) (3,504)
Accrued research and development 724 (49)
Other accrued liabilities (175) (69)
Deferred rent and other long term liabilities (273) (138)
Net cash used in operating activities (16,428) (25,111)
Investing activities    
Purchases of available-for-sale securities (79,637) (100,934)
Maturities of available-for-sale securities 90,275 127,396
Capital expenditures (178) (676)
Net cash provided by investing activities 10,460 25,786
Financing activities    
Net proceeds from issuances of common stock 24  
Net cash provided by financing activities 24  
Net increase (decrease) in cash and cash equivalents (5,944) 675
Cash and cash equivalents at beginning of period 20,854 33,484
Cash and cash equivalents at end of period $ 14,910 $ 34,159