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Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING ACTIVITIES    
Net loss $ (33,433) $ (29,957)
Non-cash items:    
Depreciation 676 777
Gain on sale of property and equipment 0 (20)
Stock-based compensation expense 5,095 3,800
Change in fair value of contingent consideration (363) 409
Non-cash royalty revenue (1,944) (3,048)
Non-cash interest expense 366 985
Net accretion and amortization of investments in marketable securities (919) 251
Net change in operating items:    
Accounts receivable (1,262) (1,071)
Prepaid expenses and other assets (577) (1,126)
Accounts payable and accrued liabilities (7,224) 1,660
Change in deferred license revenue (7,128) 27,815
Other liabilities (147) (149)
Net cash (used in) provided by operating activities (46,860) 326
INVESTING ACTIVITIES    
Purchase of investments in marketable securities (49,405) (84,619)
Disposition of investments in marketable securities 68,500 11,000
Proceeds from sale of property and equipment 0 20
Acquisition of property and equipment (976) (287)
Net cash provided by (used in) investing activities 18,119 (73,886)
FINANCING ACTIVITIES    
Issuance of common shares pursuant to Share Purchase Agreement 0 10,973
Issuance of common shares pursuant to the Open Market Sale Agreement 24,604 268
Issuance of common shares pursuant to exercise of stock options 259 121
Issuance of common shares pursuant to exercise of ESPP 296 236
Net cash provided by financing activities 25,159 11,598
Effect of foreign exchange rate changes on cash and cash equivalents 3 0
Decrease in cash and cash equivalents (3,579) (61,962)
Cash and cash equivalents, beginning of period 30,776 109,282
Cash and cash equivalents, end of period $ 27,197 $ 47,320