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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net loss $ (50,828) $ (37,873)
Items not involving cash:    
Depreciation 751 427
Deferred income tax expense (recovery) 154 (21)
Stock-based compensation 8,822 4,669
Unrealized foreign exchange loss 492 11
Unrealized fair value loss on marketable securities 4,650 92
Changes in operating assets and liabilities:    
Accounts receivable 235 (608)
Prepaid expenses and other current assets 439 (349)
Accounts payable and accrued expenses (11) 484
Deferred revenue   (617)
Net cash used in operating activities (35,296) (33,785)
Investing activities:    
Purchases of property, plant and equipment (756) (1,313)
Purchases of marketable securities (141,638) (122,279)
Proceeds from marketable securities 94,823 76,680
Net cash used in investing activities (47,571) (46,912)
Financing activities:    
Issuance of common shares and pre-funded warrants, net of issuance costs (note 7a and note 7c) 277,766 118,615
Issuance of common shares pursuant to exercise of stock options   217
Net cash provided by financing activities 277,766 118,832
Effect of exchange rate changes on cash and cash equivalents (600) (214)
Increase in cash and cash equivalents 194,299 37,921
Cash and cash equivalents, beginning of period 175,688 45,009
Cash and cash equivalents, end of period 369,987 82,930
Supplemental disclosures:    
Interest received 3,509 1,537
Cash paid for operating lease 410 412
Supplemental disclosures of non-cash transactions:    
Fair value of stock options exercised on a cashless basis $ 2,409 1,324
Increase in operating lease liability and accounts receivable related to lease incentives claimed in the period   $ 493