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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2020
Jun. 30, 2019
Dec. 31, 2019
Operating activities:        
Net loss   $ (7,659) $ (21,348)  
Items not involving cash:        
Depreciation   271 179  
Amortization of discount on term loan   216 255  
Deferred income tax recovery   (52) (11)  
Stock-based compensation   2,487 955  
Unrealized foreign exchange (gain) loss   23 (225)  
Unrealized gain on marketable securities   (532) (143)  
Loss on repayment of term loan (note 9) $ 988 988    
Changes in operating assets and liabilities:        
Accounts receivable   (1,009) (15)  
Prepaid expenses and other current assets   225 522  
Accounts payable and accrued expenses   (1,054) 2,388  
Deferred revenue   (17,760)    
Net cash used in operating activities   (23,856) (17,443)  
Investing activities:        
Purchases of property, plant and equipment   (1,016) (600)  
Purchases of marketable securities   (146,773) (64,176)  
Proceeds from marketable securities   105,798 51,145  
Net cash used in investing activities   (41,991) (13,631)  
Financing activities:        
Repayment of term loan and repayment fees (note 9)   (16,743)    
Issuance of common shares, net of issuance costs (note 10a)   102,456    
Issuance of common shares pursuant to exercise of stock options   37 69  
Net cash provided by financing activities   85,750 69  
Effect of exchange rate changes on cash and cash equivalents   (459) 326  
Increase (decrease) in cash and cash equivalents   19,444 (30,679)  
Cash and cash equivalents, beginning of period   24,755 67,754 $ 67,754
Cash and cash equivalents, end of period $ 44,199 44,199 37,075 $ 24,755
Supplemental disclosures:        
Interest paid   339 468  
Interest received   2,191 1,269  
Cash paid for operating lease   311 314  
Supplemental disclosures of non-cash transactions:        
Fair value of stock options exercised on a cashless basis   $ 876 $ 9