Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities    
Net loss $ (73,708) $ (52,121)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 5,647 2,928
Gain on disposal of assets   (732)
Loss on sublease   495
Depreciation and amortization 431 352
Net amortization of premium on short-term investment (541) (198)
Changes in assets and liabilities:    
Accounts receivable (3,273)  
Inventories (498)  
Prepaid and other current assets 120 16
Other assets 151 96
Accounts payable 5 (3,390)
Accrued compensation 440 658
Accrued research and development 773 (1,473)
Other accrued liabilities 425 447
Deferred rent and other long term liabilities (442) (4,920)
Net cash used in operating activities (70,470) (57,842)
Investing activities    
Purchases of short-term investments (50,058) (64,235)
Maturities of short-term investments 73,966 79,381
Proceeds from disposal of assets   732
Capital expenditures (1,037) (111)
Net cash provided by investing activities 22,871 15,767
Financing activities    
Net proceeds from issuances of common stock upon exercise of options and participation in employee stock purchase plan 3,633 1,580
Proceeds from sale and issuance of common stock, net of offering costs 67,162 48,742
Net cash provided by financing activities 70,795 50,322
Net increase in cash and cash equivalents 23,196 8,247
Cash and cash equivalents at beginning of period 38,290 [1] 17,632
Cash and cash equivalents at end of period $ 61,486 $ 25,879
[1] The balance sheet at December 31, 2017 has been derived from the audited financial statements included in Rigel’s Annual Report on Form 10-K for the year ended December 31, 2017.