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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net loss $ (66,092) $ (60,254)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 8,679 9,119
Change in fair value on directors' deferred share units ("DDSU") 152 579
Amortization of intangible assets 0 527
Change in fair value of 2022 USD Financing Warrants (4,771) 19,448
Gain on extinguishment of contribution payable 0 (2,541)
Accretion of discounts and premiums on investments, net (2,422) 0
Unrealized foreign exchange 1 510
Other non-cash adjustments (193) 152
Changes in operating assets and liabilities:    
Prepaid and other current assets 1,736 (1,019)
Other noncurrent assets 2 90
Accounts payable 2,206 (1,453)
Accrued expenses 1,679 (1,713)
Other liabilities, long-term 5 (32)
Net cash used in operating activities (59,018) (36,587)
Cash flows from investing activities    
Purchases of investments (235,746) 0
Maturity of investments 33,750 0
Net cash used in investing activities (201,996) 0
Cash flows from financing activities    
Proceeds from credit facility 42,000 10,000
Repayment of credit facility (22,000) 0
Payment of credit facility issuance costs (447) (128)
Proceeds from the Offering and Private Placement 0 175,000
Payment of issuance costs from the Offering and Private Placement 0 (10,807)
Proceeds from the 2022 ATM net of issuance costs 0 984
Payment of deferred financing fees related to 2024 ATM 0 (30)
Proceeds from exercise of 2022 USD Financing Warrants 579 4,431
Proceeds from exercise of options 334 639
Proceeds from issuance of common shares under ESPP 186 0
Withholding taxes paid on vested RSUs 0 (54)
Net cash provided by financing activities 20,652 180,035
Effect of exchange rate changes on cash 13 (20)
Net increase/(decrease) in cash and cash equivalents (240,349) 143,428
Cash and cash equivalents, beginning of period 273,741 99,704
Cash and cash equivalents, end of period 33,392 243,132
Supplemental Cash Flow Information    
Cash paid for interest and final payment for credit facility 3,187 873
Supplemental Noncash Disclosures    
Conversion of 2022 USD Financing Warrants to common shares upon exercise of warrants 295 5,244
Lease liabilities arising from obtaining right-of-use assets 586 0
Withholding taxes payable on option exercises 17 0
Unpaid issuance costs for the Offering and Private Placement 0 253
Deferred financing fees related to 2024 ATM included in accrued expenses 0 400
Reclass of deferred financing fees to additional paid-in capital $ 0 $ 332