Investments

12 Months Ended

Dec. 31, 2021

Investments, All Other Investments [Abstract]

Investments

Investments

Short-term Investments

Short-term investments are denominated in U.S. dollars or Canadian dollars and consist of guaranteed investment certificates (“GICs”) acquired from financial institutions in accordance with the Company’s cash investment policy. Short-term GICs bear interest at rates of 0.25%-1.00% per annum, and are classified as held to maturity and available for sale and are accounted for at amortized cost or at fair value.

Long-term Investments

Long-term investments at December 31, 2021 consist of equity securities of $886 acquired for strategic purposes or in connection with licensing and collaboration agreements (December 31, 2020 - $718 which included both equity and debt securities). Other long-term investments are accounted for as available for sale financial instruments with changes in fair value recorded through net income. Long term investments as of December 31, 2020 also included GIC of $25,203 purchased from a financial institution in accordance with the Company’s cash investment policy. These were classified as held to maturity and were accounted for at amortized cost as of December 31, 2020.