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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net loss $ (87,978) $ (53,318)
Items not involving cash:    
Depreciation 1,109 636
Deferred income tax recovery (49) (288)
Stock-based compensation 14,564 7,312
Unrealized foreign exchange loss 3,454 451
Unrealized fair value loss on trading securities 4,944 72
Changes in operating assets and liabilities:    
Accounts receivable 242 (940)
Prepaid expenses and other current assets (4,028) (490)
Accounts payable and accrued expenses 2,044 (787)
Deferred revenue 0 (1,440)
Net cash used in operating activities (65,698) (48,792)
Investing activities:    
Purchases of property, plant and equipment (1,142) (1,536)
Purchases of marketable securities (436,393) (132,280)
Proceeds from marketable securities 155,867 102,479
Net cash used in investing activities (281,668) (31,337)
Financing activities:    
Issuance of common shares and pre-funded warrants, net of issuance costs (note 9a and note 9c) 277,766 123,345
Issuance of common shares pursuant to exercise of stock options 699 245
Net cash provided by financing activities 278,465 123,590
Effect of exchange rate changes on cash and cash equivalents (3,298) (661)
Increase (decrease) in cash and cash equivalents (72,199) 42,800
Cash and cash equivalents, beginning of period 175,688 45,009
Cash and cash equivalents, end of period 103,489 87,809
Supplemental disclosures:    
Interest received 6,206 2,428
Cash paid for operating lease 638 619
Supplemental disclosures of non-cash transactions:    
Fair value of stock options exercised on a cashless basis 4,085 1,583
Increase in operating lease liability and accounts receivable related to lease incentives claimed in the period $ 0 $ 493