Quarterly report pursuant to Section 13 or 15(d)

CONDENSED BALANCE SHEETS

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CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 24,946 $ 43,456
Short-term investments 69,994 82,820
Accounts receivable 95 203
Prepaid and other current assets 1,862 2,545
Total current assets 96,897 129,024
Property and equipment, net 1,581 1,613
Other assets 842 1,110
Total assets 99,320 131,747
Current liabilities:    
Accounts payable 1,506 2,763
Accrued compensation 3,119 6,251
Accrued research and development 6,702 4,953
Other accrued liabilities 1,269 1,133
Deferred revenue 3,760 13,427
Deferred liability - sublease, current portion 3,112 3,005
Deferred rent, current portion 2,533 2,264
Total current liabilities 22,001 33,796
Long-term portion of deferred liability - sublease 1,877 3,460
Long-term portion of deferred rent 1,707 3,083
Other long-term liabilities 15 27
Commitments
Stockholders' equity:    
Preferred stock
Common stock 95 91
Additional paid-in capital 1,096,215 1,082,980
Accumulated other comprehensive gain (loss) 53 (44)
Accumulated deficit (1,022,643) (991,646)
Total stockholders' equity 73,720 91,381
Total liabilities and stockholders' equity $ 99,320 $ 131,747