XML 18 R6.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES    
Net Income (Loss) $ (22,003) $ (37,671)
Non-cash items:    
Depreciation 341 711
Loss on impairment of leasehold improvements and lab equipment 2,811 0
Stock-based compensation expense 4,428 5,194
Change in fair value of contingent consideration 559 391
Non-cash royalty revenue (974) (1,164)
Non-cash interest expense 55 70
Net accretion and amortization of investments in marketable securities (1,386) (1,229)
Net change in operating items:    
Accounts receivable 1,384 9
Prepaid expenses and other assets (640) (40)
Accounts payable and accrued liabilities (3,056) 837
Change in deferred license revenue (10,434) (757)
Other liabilities (225) (150)
Net cash used in operating activities (29,140) (33,799)
INVESTING ACTIVITIES    
Purchase of investments in marketable securities (63,214) (57,982)
Proceeds from sale of property and equipment 9 0
Disposition of investments in marketable securities 90,165 79,601
Acquisition of property and equipment 0 (96)
Net cash provided by investing activities 26,960 21,523
FINANCING ACTIVITIES    
Issuance of common shares pursuant to the Open Market Sale Agreement 0 44,124
Issuance of common shares pursuant to exercise of stock options 3,106 4,465
Issuance of common shares pursuant to ESPP 131 211
Net cash provided by financing activities 3,237 48,800
Effect of foreign exchange rate changes on cash and cash equivalents 25 (21)
Increase in cash and cash equivalents 1,082 36,503
Cash and cash equivalents, beginning of period 36,330 26,285
Cash and cash equivalents, end of period $ 37,412 $ 62,788