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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows used in operating activities    
Net loss $ (45,211) $ (25,969)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation of property and equipment 74 70
Share-based compensation expense 6,905 5,304
Changes in operating assets and liabilities:    
Other receivables (308) 134
Research and development tax credits receivable 161 450
Prepaid expenses (759) (540)
Operating lease assets and liabilities 47 25
Accounts payable and accrued liabilities (516) (321)
Net cash used in operating activities (39,607) (20,847)
Cash provided by (used in) investing activities    
Acquisition of property and equipment (162)  
Acquisition of short-term investments (62,947) (15,000)
Redemption of short-term investments 23,000 70,000
Net cash provided by (used in) investing activities (40,109) 55,000
Cash provided by financing activities    
Proceeds from exercise of options 217 43
Issuance of common shares, net of issuance costs 2,644  
Net Proceeds from issuance of pre-funded warrants in a private placement   4,920
Cash provided by financing activities 2,861 4,963
Net decrease in cash and cash equivalents (76,855) 39,116
Cash and cash equivalents - Beginning of period 114,141 72,310
Cash and cash equivalents - End of period $ 37,286 $ 111,426