Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

v2.4.0.6
CONDENSED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Operating activities    
Net loss $ (25,574) $ (23,174)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 669 552
Stock-based compensation expense 1,793 3,098
Changes in assets and liabilities:    
Prepaid expenses and other current assets 1,262 (182)
Other assets 58 59
Accounts payable 441 366
Accrued compensation (3,504) (4,186)
Accrued research and development (49) (861)
Other accrued liabilities (69) 1,060
Deferred rent and other long term liabilities (138) (5)
Net cash used in operating activities (25,111) (23,273)
Investing activities    
Purchases of available-for-sale securities (100,934) (105,926)
Maturities and sales of available-for-sale securities 127,396 133,685
Capital expenditures (676) (1,574)
Net cash provided by investing activities 25,786 26,185
Financing activities    
Net proceeds from issuances of common stock   488
Net cash provided by financing activities   488
Net increase in cash and cash equivalents 675 3,400
Cash and cash equivalents at beginning of period 33,484 18,633
Cash and cash equivalents at end of period $ 34,159 $ 22,033