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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Operating activities:      
Net loss $ (16,514) $ (30,219)  
Items not involving cash:      
Depreciation 442 283  
Amortization of discount on term loan 216 388  
Deferred income tax recovery (240) (73)  
Stock-based compensation 4,067 1,567  
Unrealized foreign exchange gain (451) (161)  
Unrealized gain on marketable securities (228) (134)  
Loss on repayment of term loan (note 9) 988    
Changes in operating assets and liabilities:      
Accounts receivable (827) (54)  
Prepaid expenses and other current assets 421 208  
Accounts payable and accrued expenses 122 3,694  
Deferred revenue (23,006)    
Net cash used in operating activities (35,010) (24,501)  
Investing activities:      
Purchases of property, plant and equipment (1,809) (645)  
Purchases of marketable securities (213,560) (76,064)  
Proceeds from marketable securities 155,346 70,818  
Net cash used in investing activities (60,023) (5,891)  
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 87  
Net cash provided by financing activities 85,750 87  
Effect of exchange rate changes on cash and cash equivalents (372) 222  
Decrease in cash and cash equivalents (9,655) (30,083)  
Cash and cash equivalents, beginning of period 24,755 67,754 $ 67,754
Cash and cash equivalents, end of period 15,100 37,671 $ 24,755
Supplemental disclosures:      
Interest paid 339 702  
Interest received 3,058 1,938  
Cash paid for operating lease 469 469  
Supplemental disclosures of non-cash transactions:      
Fair value of stock options exercised on a cashless basis $ 878 $ 354