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
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities    
Net loss $ (49,942) $ (34,461)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,652 2,055
Gain on disposal of assets   (732)
Loss on sublease   495
Depreciation and amortization 272 240
Net amortization of premium on short-term investment (317) (107)
Changes in assets and liabilities:    
Accounts receivable (1,620)  
Inventories (476)  
Prepaid and other current assets 131 (42)
Other assets 125 60
Accounts payable 706 (3,508)
Accrued compensation (1,619) (426)
Accrued research and development 466 (710)
Other accrued liabilities (241) (37)
Deferred rent and other long term liabilities (525) (3,059)
Net cash used in operating activities (50,388) (40,232)
Investing activities    
Purchases of short-term investments (41,619) (44,920)
Maturities of short-term investments 49,516 52,449
Proceeds from disposal of assets   732
Capital expenditures (881) (55)
Net cash provided by investing activities 7,016 8,206
Financing activities    
Net proceeds from issuances of common stock upon exercise of options and participation in employee stock purchase plan 2,998 810
Proceeds from sale and issuance of common stock, net of offering costs 67,162 46,175
Net cash provided by financing activities 70,160 46,985
Net increase in cash and cash equivalents 26,788 14,959
Cash and cash equivalents at beginning of period 38,290 [1] 17,632
Cash and cash equivalents at end of period $ 65,078 $ 32,591
[1] The balance sheet at December 31, 2017 has been derived from the audited financial statements included in Rigel’s Annual Report on Form 10-K for the year ended December 31, 2017.