Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Interim Statements of Cash Flows (Unaudited)

v3.19.2
Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended 13 Months Ended 15 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2019
Cash flows from (used in) operating activities:            
Net loss for the period $ (6,218,000) $ (10,262,000) $ (11,724,000) $ (17,076,000)    
Items not involving cash:            
Stock-based compensation 568,000 515,000 1,230,000 2,743,000    
Shares issued to Aspire Capital as commitment fees 360,000 600,000 360,000 600,000    
Depreciation and amortization 53,000 19,000 82,000 35,000    
Amortization of right-of-use assets 107,000 231,000    
Interest on lease liabilities 23,000 47,000    
Operating lease payments amortized to lease liabilities (120,000) (219,000)    
Unrealized foreign exchange (loss) gain (1,000) (4,000) (3,000) 22,000    
Accrued interest on investments (19,000) (19,000)    
Change in non-cash operating working capital:            
Prepaid expenses (183,000) (139,000) (76,000) (66,000)    
Other current assets (73,000) (108,000) (67,000) (131,000)    
Account payable 70,000 784,000 (75,000) 557,000    
Accrued liabilities 164,000 (588,000) 90,000 79,000    
Cash used in operating activities (5,269,000) (9,183,000) (10,143,000) (13,237,000)    
Cash flows from financing activities:            
Cost of offerings (142,000) (2,000) (142,000) (7,000)    
Issuance of common shares upon exercise of stock options 19,000 183,000 19,000 183,000    
Cash provided by financing activities 23,613,000 11,569,000 29,791,000 20,424,000    
Cash flows from (used in) investing activities:            
Maturity (acquisition) of investments (8,000,000) 250,000 (8,000,000) 250,000    
Purchase of property and equipment (26,000) (100,000) (50,000) (124,000)    
Cash provided by (used in) investing activities (8,026,000) 150,000 (8,050,000) 126,000    
Effect of exchange rate fluctuations on cash and cash equivalents held (1,000) 1,000    
Increase in cash and cash equivalents 10,317,000 2,536,000 11,599,000 7,313,000    
Cash and cash equivalents, beginning of period 16,581,000 15,408,000 15,299,000 10,631,000    
Cash and cash equivalents, end of period 26,898,000 17,944,000 26,898,000 17,944,000 $ 26,898,000 $ 26,898,000
Public Offering [Member]            
Cash flows from financing activities:            
Proceeds from Issuance of Common Stock 19,736,000 19,736,000    
The 2018 Purchase Agreement [Member]            
Cash flows from financing activities:            
Proceeds from Issuance of Common Stock     10,000,000   11,900,000  
Issuance of common shares 4,000,000 10,000,000 $ 11,900,000  
The 2017 Purchase Agreement [Member]            
Cash flows from financing activities:            
Proceeds from Issuance of Common Stock       15,000,000    
Issuance of common shares 6,140,000 15,000,000    
The 2018 ATM Offering [Member]            
Cash flows from financing activities:            
Proceeds from Issuance of Common Stock     183,000 5,410,000   11,200,000
Issuance of common shares $ 5,248,000 $ 178,000 $ 5,248,000   $ 10,900,000