Investments

3 Months Ended

Mar. 31, 2022

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 are classified as held to maturity and are accounted for at amortized cost.

Long-term Investments

Long-term investments at March 31, 2022 consist of equity securities of $886 acquired for strategic purposes or in connection with licensing and collaboration agreements (December 31, 2021 - $886 ). Long-term investments are accounted for as available for sale financial instruments with changes in fair value recorded through net income.