Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (21,444) $ (11,208)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 45 9
Stock based compensation 2,522 1,204
Common stock issued in exchange for intellectual property 0 608
Changes in operating assets and liabilities:    
Prepaid expenses (725) (507)
Accounts payable 1,285 754
Accrued expenses 29 (577)
Security deposit 0 (45)
Deferred rent payable (3) (1)
Net cash used in operating activities (18,291) (9,763)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of furniture and fixtures (33) (35)
Purchase of intangible asset (120) 0
Increase in restricted cash balance 0 (72)
Net cash used in investing activities (153) (107)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of warrants 0 4,889
Proceeds, net of expenses of $2,115 and $2,824 from sale of common stock 29,000 40,654
Net cash provided by financing activities 29,000 45,543
Effect of currency rate change on cash (3) (5)
Net increase in cash and cash equivalents 10,553 35,668
Cash and cash equivalents, beginning of the period 38,184 8,202
Cash and cash equivalents, end of period 48,737 43,870
Non-cash financing activities:    
Issuance of common stock under employee benefit plan $ 70 $ 0