XML 20 R6.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities:    
Net loss $ (78,882) $ (28,837)
Items not involving cash:    
Depreciation 906 644
Amortization of discount on term loan   216
Deferred income tax recovery 58 (285)
Stock-based compensation 10,017 5,677
Unrealized foreign exchange (gain) loss 327 (434)
Unrealized fair value gain (loss) on marketable securities 719 (4)
Loss on repayment of term loan (note 9)   988
Changes in operating assets and liabilities:    
Accounts receivable (459) (1,032)
Prepaid expenses and other current assets (1,517) (269)
Accounts payable and accrued expenses 2,971 2,022
Deferred revenue (3,642) (26,810)
Net cash used in operating activities (69,502) (48,124)
Investing activities:    
Purchases of property, plant and equipment (2,050) (2,637)
Purchase of marketable securities (389,474) (228,897)
Proceeds from marketable securities 144,754 214,710
Net cash used in investing activities (246,770) (16,824)
Financing activities:    
Repayment of term loan and repayment fees (note 9)   (16,743)
Issuance of common shares and pre-funded warrants, net of issuance costs (note 10a) 447,283 102,456
Issuance of common shares pursuant to exercise of stock options 260 82
Net cash provided by financing activities 447,543 85,795
Effect of exchange rate changes on cash and cash equivalents (592) (593)
Increase in cash and cash equivalents 130,679 20,254
Cash and cash equivalents, beginning of year 45,009 24,755
Cash and cash equivalents, end of year 175,688 45,009
Supplemental disclosures:    
Interest paid   339
Interest received 3,517 4,115
Cash paid for operating lease 824 634
Supplemental disclosures of non-cash transactions:    
Fair value of stock options exercised on a cashless basis 3,349 887
Increase in operating lease liability and accounts receivable related to lease incentives claimed in the period (note 7) 493  
Increase in operating lease right-of-use asset and operating lease liability related to lease amendments (note 7) $ 5,248 $ 2,907