Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net loss $ (55,238) $ (26,277)
Items not involving cash:    
Stock-based compensation 21,438 2,296
Shares issued to Aspire Capital as commitment fees 360
Depreciation and amortization 152 152
Amortization of right-of-use assets 462 461
Interest on lease liabilities 69 90
Unrealized foreign exchange gain/(loss) (8) (23)
Accrued interest on investments 33 (34)
Change in operating working capital:    
Prepaid expenses (1,529) (379)
Operating lease payments (537) (471)
Other assets 12 (40)
Accounts payable 211 645
Accrued liabilities 1,044 1,662
Cash used in operating activities (33,891) (21,558)
Cash flows from financing activities:    
Offering costs paid (168) (437)
Issuance of common shares pursuant to exercise of stock options 573 718
Cash provided by financing activities 58,807 103,448
Cash flows from (used in) investing activities:    
Maturity (acquisition) of investments, net 12,707 (17,268)
Purchase of property and equipment (79) (102)
Cash provided by (used in) investing activities 12,628 (17,370)
Effect of exchange rate fluctuations on cash and cash equivalents held 7 23
Increase in cash and cash equivalents 37,551 64,543
Cash and cash equivalents, beginning of year 79,842 15,299
Cash and cash equivalents, end of year 117,393 79,842
Public Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares 58,402
December 2019 Public Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares 68,883
June 2019 Public Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares 19,736
The 2018 ATM Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares 178
The 2019 Share Purchase Agreement [Member]    
Cash flows from financing activities:    
Issuance of common shares 4,370
The 2018 Purchase Agreement [Member]    
Cash flows from financing activities:    
Issuance of common shares $ 10,000