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
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (15,630) $ (31,360)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of premium on marketable securities 6 62
Depreciation of property and equipment 50 101
Stock-based compensation 1,477 2,367
Changes in operating assets and liabilities:    
Prepaid expenses 123 867
Security deposit (7)
Accounts payable 490 (2,114)
Accrued expenses and deferred rent (710) (1,795)
Net cash used in operating activities (14,201) (31,872)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (2) (66)
Proceeds from restricted cash 44
Maturities of marketable securities 7,174 12,715
Net cash provided by investing activities 7,172 12,693
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of warrants 14
Proceeds, net of expenses of $1,168 and $1,294, from sale of common stock 17,387 15,641
Net cash provided by financing activities 17,401 15,641
Effect of currency rate change on cash (3) 7
Net increase (decrease) in cash and cash equivalents 10,369 (3,531)
Cash and cash equivalents, beginning of the period 18,941 19,175
Cash and cash equivalents, end of period 29,310 15,644
Non-cash financing activities:    
Issuance of common stock under employee benefit plan $ 74 $ 167