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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net loss $ (53,318) $ (16,514)
Items not involving cash:    
Depreciation 636 442
Amortization of discount on term loan   216
Deferred income tax recovery (288) (240)
Stock-based compensation 7,312 4,067
Unrealized foreign exchange loss (gain) 451 (451)
Unrealized loss (gain) on marketable securities 72 (228)
Loss on repayment of term loan (note 8)   988
Changes in operating assets and liabilities:    
Accounts receivable (940) (827)
Prepaid expenses and other current assets (490) 421
Accounts payable and accrued expenses (787) 122
Deferred revenue (1,440) (23,006)
Net cash used in operating activities (48,792) (35,010)
Investing activities:    
Purchases of property, plant and equipment (1,536) (1,809)
Purchases of marketable securities (132,280) (213,560)
Proceeds from marketable securities 102,479 155,346
Net cash used in investing activities (31,337) (60,023)
Financing activities:    
Repayment of term loan and repayment fees (note 8)   (16,743)
Proceeds from issuance of common shares and pre-funded warrants, net of issuance costs (note 9a) 123,345 102,456
Issuance of common shares pursuant to exercise of stock options 245 37
Net cash provided by financing activities 123,590 85,750
Effect of exchange rate changes on cash and cash equivalents (661) (372)
Increase in cash and cash equivalents 42,800 (9,655)
Cash and cash equivalents, beginning of period 45,009 24,755
Cash and cash equivalents, end of period 87,809 15,100
Supplemental disclosures:    
Interest paid   339
Interest received 2,428 3,058
Cash paid for operating lease 619 469
Supplemental disclosures of non-cash transactions:    
Fair value of stock options exercised on a cashless basis 1,583 $ 878
Increase in operating lease liability and accounts receivable related to lease incentives claimed in the period $ 493