Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Statements of Cash Flows

v3.2.0.727
Unaudited Condensed Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net (loss) income $ (15,881) $ 2,645
Adjustments to reconcile net loss to net cash used in operating activities:    
Impairment on Assets Held for Sale 1,350 0
Gain on insurance recovery 0 (165)
Loss on extinguishment of debt 0 1,389
Recovery of bad debt 0 (75)
Depreciation 447 615
Stock-based compensation expense 1,115 382
Amortization of deferred financing costs and debt discount 0 755
Change in fair value of derivative liability 0 (10,080)
Changes in deferred rent (122) (56)
Changes in operating assets and liabilities:    
Accounts receivable and unbilled services (214) (394)
Prepaid expenses, other assets, and deferred costs (1,262) (351)
Accounts payable and accrued expenses 467 557
Accrued severance and retention cost obligations 1,499 389
Deferred revenue (218) 321
Net cash used in operating activities (12,819) (4,068)
Cash flows from investing activities:    
Proceeds from insurance recovery 0 216
Purchases of property and equipment (527) (323)
Net cash used in investing activities (527) (107)
Cash flows from financing activities:    
Proceeds from public offerings 41,400 62,000
Proceeds from sale of preferred stock 0 544
Repayment of debt 0 (15,000)
Payments of deferred offering costs and underwriting discounts and commissions (3,335) (6,410)
Proceeds from employee stock purchase plan issuance 95 0
Proceeds from exercise of stock warrants 0 55
Proceeds from exercise of stock options 0 9
Net cash provided by financing activities 38,160 41,198
Net increase in cash and cash equivalents 24,814 37,023
Cash and cash equivalents, beginning of period 32,243 1,402
Cash and cash equivalents, end of period 57,057 38,425
Supplemental cash flow information:    
Cash paid for interest 0 49
Noncash financing and investing activities:    
Beneficial conversion feature on sale of Series D-2 preferred stock 0 909
Beneficial conversion feature for antidilution adjustment 0 214
Adjustment of preferred stock to redemption value 0 510
Deferred offering costs included in accounts payable and accrued expenses 53 465
Equipment purchases in accounts payable and accrued expenses 20 6
Impairment of fixed asset 0 51
Deferred offering costs reclassified to additional paid-in capital 3,388 4,127
Warrant derivative liability reclassified to additional paid-in capital 0 2,701
Conversion of convertible preferred stock to common stock $ 0 $ 88,790