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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net loss $ (65,047) $ (47,931)
Adjustments to reconcile net loss to net cash used in operating activities:    
Interest receivable and accretion of discounts on marketable securities 2,947 (3,009)
Depreciation of property plant and equipment 659 586
Non-cash operating lease expense 322 309
Deferred income tax expense (recovery) (1,213) 403
Stock-based compensation 12,174 9,400
Unrealized foreign exchange loss 182 4
Realized loss on marketable securities 518 0
Changes in operating assets and liabilities:    
Accounts and other receivable (7,178) 38
Prepaid expenses and other current assets (926) (673)
Accounts payable and accrued liabilities (3,783) (5,018)
Operating lease liability (307) (296)
Net cash used in operating activities (61,652) (46,187)
Investing activities:    
Purchases of property, plant and equipment (43) (188)
Purchases of marketable securities (131,239) (176,848)
Proceeds from marketable securities 165,792 133,843
Net cash provided by (used in) investing activities 34,510 (43,193)
Financing activities:    
Proceeds from exercise of stock options 1,151 0
Net cash provided by financing activities 1,151 0
Effect of exchange rate changes on cash and cash equivalents (64) (367)
Decrease in cash and cash equivalents (26,055) (89,747)
Cash and cash equivalents, beginning of period 142,712 148,643
Cash and cash equivalents, end of period 116,657 58,896
Supplemental disclosure:    
Cash paid for operating lease 420 411
Supplemental disclosures of non-cash transactions:    
Fair value of stock options exercised on a cashless basis $ 2,085 $ 2,587