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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 60,508 $ 24,755
Marketable securities 169,163 116,603
Accounts receivable 1,617 813
Prepaid expenses and other current assets 2,582 2,695
Total current assets 233,870 144,866
Operating lease right-of-use asset (note 7) 832 933
Property, plant and equipment, net 2,155 1,660
Deferred tax assets (note 12) 186 238
Total assets 237,043 147,697
Current liabilities:    
Accounts payable and accrued expenses (note 8) 8,084 8,818
Deferred revenue (note 11) 24,608 29,743
Operating lease liability (note 7) 156 168
Term loan (note 9) 15,676 4,650
Total current liabilities 48,524 43,379
Deferred revenue, long-term (note 11)   709
Operating lease liability, long-term (note 7) 541 743
Term loan, long-term (note 9)   10,889
Total liabilities 49,065 55,720
Shareholders’ equity:    
Preferred shares, without par value; unlimited shares authorized; issued and outstanding: 1,016,000 (December 31, 2019 - 1,016,000) (note 10) 7,732 7,732
Common shares, without par value; unlimited shares authorized; issued and outstanding: 34,956,272 (December 31, 2019 - 28,139,228) (note 10) 397,307 294,244
Additional paid-in capital 41,068 40,646
Accumulated deficit (257,139) (249,655)
Accumulated other comprehensive loss (990) (990)
Shareholders' equity 187,978 91,977
Total liabilities and shareholders’ equity 237,043 147,697
Commitments and contingencies (note 13)