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, unless otherwise specified
 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Operating activities:    
Net loss $ 4,357 $ (2,088)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 107 119
Stock based compensation 20 31
Fair value of warrant liabilities in excess of proceeds from financing 946   
Change in fair value of derivative liabilities (7,744)   
Realized gain on sale of marketable securities (480)   
Loss on sale of equipment 2   
Changes in operating assets and liabilities, net of effects of reverse Merger with Biozone Pharmaceuticals, Inc.:    
Prepaid expenses and other current assets (14) 41
Accounts payable and accrued expenses (312) (33)
Net cash used in operating activities (3,118) (1,930)
Investing activities:    
Cash acquired in reverse merger with Biozone Pharmaceuticals, Inc. 589   
Long term deposits (12)   
Proceeds from sale of marketable securities 5,400   
Investment in mortgage note receivable (2,626)   
Net cash provided by investing activities 3,351   
Financing activities    
Proceeds from exercise of stock options 57 5
Proceeds from issuance of common stock and warrants 2,750   
Net cash provided by financing activities 2,807 5
Net increase (decrease) in cash and cash equivalents 3,040 (1,925)
Cash and cash equivalents at beginning of period 1,034 4,717
Cash and cash equivalents at end of period 4,074 2,792
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Unrealized gain on marketable securities 1,827   
Assets acquired and liabilities assumed in reverse Merger with Biozone Pharmaceuticals, Inc.    
Prepaid expenses and other current assets 3   
Marketable securities 8,811   
Accounts payable and accrued expenses 410   
Derivative liabilities $ 10,475