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, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Operating activities    
Net income: $ 2,097 $ 1,495
Less: gain from discontinued operations 0 191
Income from continuing operations 2,097 1,304
Adjustments to reconcile net income to net cash used in operating activities:    
Non-cash change in estimated fair value of contingent liabilities 1,948 1,841
Realized (gain) on investment (481) 0
Loss on write off of assets 109 0
Depreciation and amortization 668 670
Stock-based compensation 2,067 1,124
Deferred income taxes 53 66
Accretion of note payable 100 142
Other 0 (13)
Changes in operating assets and liabilities:    
Accounts receivable (2,451) (33)
Inventory (557) 102
Other current assets 118 (157)
Other long-term assets 24 66
Accounts payable and accrued liabilities (1,002) (2,218)
Deferred revenue (116) (174)
Net cash provided by operating activities of continuing operations 2,577 2,720
Net cash used in operating activities of discontinued operations 0 (642)
Net cash provided by operating activities 2,577 2,078
Investing activities    
Payments to CVR holders and former license holders (1,618) 0
Purchases of property and equipment (6) (37)
Proceeds from sale of property and equipment 0 3
Proceeds from sale of short-term investments 626 0
Net cash used in investing activities (998) (34)
Financing activities    
Repayment of debt (3,436) (9,714)
Net proceeds from stock option exercises 3,195 326
Net cash used in financing activities (241) (9,388)
Net increase (decrease) in cash and cash equivalents 1,338 (7,344)
Cash and cash equivalents at beginning of period 11,639 12,381
Cash and cash equivalents at end of period 12,977 5,037
Supplemental disclosure of cash flow information    
Interest paid 110 991
Supplemental schedule of non-cash activity    
Accrued inventory purchases 0 1,243
Unrealized gain on AFS investments $ 8,222 $ 1,166