Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Interim Statements of Cash Flows (Unaudited)

v3.19.3
Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Cash flows from (used in) operating activities:        
Net loss for the period $ (6,844,000) $ (5,531,000) $ (18,568,000) $ (22,607,000)
Items not involving cash:        
Stock-based compensation 504,000 952,000 1,734,000 3,695,000
Shares issued to Aspire Capital as commitment fees 360,000 600,000
Depreciation and amortization 33,000 29,000 115,000 64,000
Amortization of right-of-use assets 115,000 346,000
Interest on lease liabilities 22,000 69,000
Operating lease payments amortized to lease liabilities (126,000) (345,000)
Unrealized foreign exchange (loss) gain 5,000 (19,000) 2,000 1,000
Accrued interest on investments (58,000) (77,000)
Change in non-cash operating working capital:        
Prepaid expenses 437,000 68,000 361,000 2,000
Other current assets 59,000 66,000 (8,000) (65,000)
Account payable (66,000) 40,000 (141,000) 598,000
Accrued liabilities 735,000 (73,000) 825,000 7,000
Cash used in operating activities (5,184,000) (4,468,000) (15,327,000) (17,705,000)
Cash flows from financing activities:        
Cost of offerings (7,000) (142,000) (14,000)
Issuance of common shares upon exercise of stock options 17,000 36,000 36,000 219,000
Cash provided by financing activities 17,000 1,608,000 29,808,000 22,032,000
Cash flows from (used in) investing activities:        
Maturity (acquisition) of investments (1,000,000) (9,000,000) 250,000
Purchase of property and equipment (42,000) (28,000) (92,000) (152,000)
Cash provided by (used in) investing activities (1,042,000) (28,000) (9,092,000) 98,000
Effect of exchange rate fluctuations on cash and cash equivalents held (3,000) (2,000)
Increase/(decrease) in cash and cash equivalents (6,212,000) (2,888,000) 5,387,000 4,425,000
Cash and cash equivalents, beginning of period 26,898,000 17,944,000 15,299,000 10,631,000
Cash and cash equivalents, end of period 20,686,000 15,056,000 20,686,000 15,056,000
Public Offering [Member]        
Cash flows from financing activities:        
Proceeds from Issuance of Common Stock 19,736,000
The 2018 Purchase Agreement [Member]        
Cash flows from financing activities:        
Issuance of common shares 10,000,000
The 2017 Purchase Agreement [Member]        
Cash flows from financing activities:        
Proceeds from Issuance of Common Stock       15,000,000
Issuance of common shares 15,000,000
The 2018 ATM Offering [Member]        
Cash flows from financing activities:        
Proceeds from Issuance of Common Stock     183,000 7,000,000
Issuance of common shares $ 1,579,000 $ 178,000 $ 6,827,000