Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (23,782) $ (21,444)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 113 45
Stock based compensation 1,623 2,522
Changes in operating assets and liabilities:    
Prepaid expenses 930 (725)
Accounts payable (1,117) 1,285
Accrued expenses (1,217) 29
Deferred rent payable (30) (3)
Net cash used in operating activities (23,480) (18,291)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of furniture and fixtures (66) (33)
Maturities of marketable securities 7,518
Purchase of intangible asset (120)
Net cash provided by investing activities 7,452 (153)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds, net of expenses of $1,065 and $2,115 from sale of common stock 11,783 29,000
Net cash provided by financing activities 11,783 29,000
Effect of currency rate change on cash 8 (3)
Net (decrease) increase in cash and cash equivalents (4,237) 10,553
Cash and cash equivalents, beginning of the period 19,175 38,184
Cash and cash equivalents, end of period 14,938 48,737
Non-cash financing activities:    
Issuance of common stock under employee benefit plan $ 113 $ 70