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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net loss $ (137,650) $ (87,978)
Items not involving cash:    
Depreciation 2,690 1,109
Deferred income tax recovery (92) (49)
Stock-based compensation 23,190 14,564
Unrealized foreign exchange (gain) loss (753) 3,454
Unrealized fair value (gain) loss on trading securities (3,404) 4,944
Changes in operating assets and liabilities:    
Accounts receivable 424 242
Prepaid expenses and other current assets 4,103 (4,028)
Accounts payable and accrued expenses 1,630 2,044
Net cash used in operating activities (109,862) (65,698)
Investing activities:    
Purchases of property, plant and equipment (5,539) (1,142)
Purchases of marketable securities (417,319) (436,393)
Proceeds from marketable securities 545,414 155,867
Net cash provided by (used in) investing activities 122,556 (281,668)
Financing activities:    
Issuance of common shares and pre-funded warrants, net of issuance costs (note 8a and note 8c) 29,508 277,766
Issuance of common shares pursuant to exercise of stock options   699
Net cash provided by financing activities 29,508 278,465
Effect of exchange rate changes on cash and cash equivalents 130 (3,298)
Increase (decrease) in cash and cash equivalents 42,332 (72,199)
Cash and cash equivalents, beginning of period 57,242 175,688
Cash and cash equivalents, end of period 99,574 103,489
Supplemental disclosures:    
Cash paid for operating lease 1,219 638
Cash received for lease incentives 1,265  
Supplemental disclosures of non-cash transactions:    
Fair value of stock options exercised on a cashless basis 3,183 $ 4,085
Fair value of pre-funded warrants exercised 24,141  
Increase in operating lease liability and accounts receivable related to lease incentives claimed in the period $ 226