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
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (34,694) $ (18,627)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 90 15
Stock based compensation 3,384 2,088
Common stock issued in exchange for intellectual property 0 608
Changes in operating assets and liabilities:    
Prepaid expenses and other (1,290) (268)
Accounts payable 948 1,688
Accrued expenses 948 (127)
Security deposit (11) (45)
Deferred rent payable 9 46
Net cash used in operating activities (30,616) (14,622)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of furniture and fixtures (68) (194)
Purchase of intangible asset (120) 0
Purchase of marketable securities (22,058) 0
Increase in restricted cash balance 0 (73)
Net cash used in investing activities (22,246) (267)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of warrants 9 5,358
Proceeds, net of expenses of $3,484 and $3,460 from sale of common stock 47,685 47,836
Repayments of related party promissory notes 0 (280)
Net cash provided by financing activities 47,694 52,914
Effect of currency rate change on cash (7) 0
Net (decrease) increase in cash and cash equivalents (5,175) 38,025
Cash and cash equivalents, beginning of the period 38,184 8,202
Cash and cash equivalents, end of period 33,009 46,227
Non-cash financing activities:    
Issuance of common stock under employee benefit plan $ 160 $ 0