Quarterly report pursuant to Section 13 or 15(d)

CONDENSED BALANCE SHEETS

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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 14,269 $ 43,456
Short-term investments 89,363 82,820
Accounts receivable 195 203
Prepaid and other current assets 1,779 2,545
Total current assets 105,606 129,024
Property and equipment, net 1,610 1,613
Other assets 1,064 1,110
Total assets 108,280 131,747
Current liabilities:    
Accounts payable 2,424 2,763
Accrued compensation 3,152 6,251
Accrued research and development 7,239 4,953
Other accrued liabilities 847 1,133
Deferred revenue 8,593 13,427
Deferred liability - sublease, current portion 3,058 3,005
Deferred rent, current portion 2,398 2,264
Total current liabilities 27,711 33,796
Long-term portion of deferred liability - sublease 2,675 3,460
Long-term portion of deferred rent 2,421 3,083
Other long-term liabilities $ 21 $ 27
Commitments
Stockholders' equity:    
Preferred stock
Common stock $ 91 $ 91
Additional paid-in capital 1,084,422 1,082,980
Accumulated other comprehensive gain (loss) 49 (44)
Accumulated deficit (1,009,110) (991,646)
Total stockholders' equity 75,452 91,381
Total liabilities and stockholders' equity $ 108,280 $ 131,747