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, 2012
Sep. 30, 2011
Operating activities    
Net loss $ (73,368) $ (60,186)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,797 1,429
Stock-based compensation expense 9,354 10,127
Changes in assets and liabilities:    
Prepaid expenses and other current assets (141) (279)
Other assets 165 185
Accounts payable (168) (128)
Accrued compensation (1,872) (294)
Other accrued liabilities 696 (1,861)
Deferred rent and other long term liabilities (101) 286
Net cash used in operating activities (63,638) (50,721)
Investing activities    
Purchases of available-for-sale securities (282,813) (312,622)
Maturities and sale of available-for-sale securities 354,826 234,056
Capital expenditures (2,776) (2,118)
Net cash provided by (used in) investing activities 69,237 (80,684)
Financing activities    
Net proceeds from issuances of common stock 2,569 141,876
Payments on capital lease obligations   (666)
Net cash provided by financing activities 2,569 141,210
Net increase in cash and cash equivalents 8,168 9,805
Cash and cash equivalents at beginning of period 18,633 8,877
Cash and cash equivalents at end of period 26,801 18,682
Supplemental disclosure of cash flow information    
Interest paid   $ 20