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Condensed Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
3 Months Ended 15 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2020
OPERATING ACTIVITIES      
Net loss $ (13,861) $ (23,251)  
Items not involving cash:      
Depreciation 500 509  
Gain on sale of property and equipment 0 (9)  
Stock-based compensation expense 1,445 1,522  
Unrealized foreign exchange losses (gains) 10 (38)  
Change in fair value of contingent consideration 112 125  
Net equity investment gain (loss) 0 4,651  
Non-cash royalty revenue (656) (171)  
Non-cash interest expense 1,039 0  
Net accretion and amortization of investments in marketable securities (2) 0  
Net change in operating items:      
Accounts receivable 132 777  
Prepaid expenses and other assets (439) 2,277  
Accounts payable and accrued liabilities (3,602) (2,885)  
Other liabilities (131) (87)  
Net cash used in operating activities (15,453) (16,580)  
INVESTING ACTIVITIES      
Purchase of investments (24,369) (334)  
Disposition of investments 21,968 61,389  
Proceeds from sale of property and equipment 0 9  
Acquisition of property and equipment 0 (31)  
Net cash provided by / (used in) investing activities (2,401) 61,033  
FINANCING ACTIVITIES      
Issuance of common shares pursuant to the Open Market Sale agreement 12,315 2,248  
Issuance of common shares pursuant to exercise of options 166 288  
Net cash provided by financing activities 12,481 2,536  
Effect of foreign exchange rate changes on cash and cash equivalents (10) 38  
Increase / (decrease) in cash and cash equivalents (5,383) 47,027  
Cash and cash equivalents, beginning of period 31,799 36,942 $ 36,942
Cash and cash equivalents, end of period 26,416 83,969 $ 26,416
Non-cash transactions:      
Preferred shares dividends accrued $ (2,978) $ (2,715)