Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (5,064) $ (13,976)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 24 57
Stock-based compensation 567 896
Changes in operating assets and liabilities:    
Prepaid expenses 10 178
Accounts payable (31) (986)
Accrued expenses (307) (1,645)
Deferred rent payable 7 (9)
Net cash used in operating activities (4,794) (15,485)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of furniture and fixtures (65)
Maturities of marketable securities 4,694 4,783
Net cash provided by investing activities 4,694 4,718
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds, net of expenses of $34 from sale of common stock 1,102
Net cash provided by financing activities 1,102
Effect of currency rate change on cash 19
Net increase (decrease) in cash 1,002 (10,748)
Cash, beginning of the period 18,941 19,175
Cash, end of period 19,943 8,427
Non-cash financing activities:    
Issuance of common stock under employee benefit plan $ 10 $ 113