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Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Income/(loss) for the year $ (66,628) $ (37,065) $ (62,709)
Non-cash items:      
Depreciation and amortization 4,933 8,893 7,287
Share-based compensation expense 4,415 14,698 13,950
(Gain)/loss on investment held at fair value (77,945) 32,060 (179,316)
Realized loss on sale of investments 265 29,303 20,925
Gain on dilution of ownership interest in associate 0 (28,220) 0
Impairment of investment in associates 0 8,390 0
Gain on deconsolidation of subsidiary (61,787) (27,251) 0
Share of net loss of associates accounted for using the equity method 6,055 27,749 73,703
Loss on investments in notes from associates 27,630 0 0
Fair value gain on other financial instruments 0 (8,163) (800)
Loss on disposal of assets 318 138 53
Impairment of fixed assets 1,260 0
Income taxes, net 30,525 (55,719) 3,756
Finance (income)/costs, net (5,078) (138,924) (5,050)
Changes in operating assets and liabilities:      
Trade and other receivables 9,750 (7,734) (617)
Prepaid expenses 2,834 (862) (5,350)
Deferred revenue (283) 2,123 (1,407)
Trade and other payables 3,844 22,033 8,338
Other 1,374 359 (103)
Income taxes paid (150) (20,696) (27,766)
Interest received 14,454 3,460 214
Interest paid (1,701) (3,366) (3,382)
Net cash used in operating activities (105,917) (178,792) (158,274)
Cash flows from investing activities:      
Purchase of property and equipment (70) (2,176) (5,571)
Proceeds from sale of property and equipment 865 0 30
Purchases of intangible assets (175) 0 (90)
Investment in associates 0 (19,961) 0
Purchase of investments held at fair value 0 (5,000) (500)
Sale of investments held at fair value 33,309 118,710 218,125
Purchase of short-term note from associate 0 0 (15,000)
Repayment of short-term note from associate 0 15,000 0
Purchase of Convertible Note from associate (16,850) (15,000) 0
Cash derecognized upon loss of control over subsidiary (see table below) (13,784) (479) 0
Purchases of short-term investments (178,860) (248,733) 0
Proceeds from maturity of short-term investments 244,556 50,000 0
Receipt of payment of sublease 0 415 381
Net cash provided by (used in) investing activities 68,991 (107,223) 197,375
Cash flows from financing activities:      
Receipt of cash from sale of future royalties 100,000 0 0
Issuance of subsidiary preferred Shares 0 0 37,610
Issuance of Subsidiary Convertible Note 0 393 2,215
Payment of lease liability (3,338) (4,025) (3,375)
Exercise of stock options 1,153 332 352
Settlement of restricted stock unit equity awards 0 0 (10,749)
Vesting of restricted stock units and net share exercise 0 0 (2,582)
NCI exercise of stock options in subsidiary 0 7 66
Purchase of treasury stock (19,650) (26,492) 0
Acquisition of a non-controlling Interest of a subsidiary 0 0 (806)
Other (23) (41) (5)
Net cash provided by (used in) financing activities 78,141 (29,827) 22,727
Net increase (decrease) in cash and cash equivalents 41,215 (315,842) 61,827
Cash and cash equivalents at beginning of year 149,866 465,708 403,881
Cash and cash equivalents at end of year 191,081 149,866 465,708
Supplemental disclosure of non-cash investment and financing activities:      
Purchase of intangible assets not yet paid in cash 25 0
Settlement of restricted stock units through issuance of equity 1,142 1,528 0
Purchase of property, plant and equipment against trade and other payables 0 0 1,841
Leasehold improvements purchased through lease incentives (deducted from Right of Use Asset) 0 0 1,010
Conversion of subsidiary convertible note into preferred share liabilities $ 0 $ 0 $ 25,797