Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss for the year $ (65,354) $ (55,238)
Items not involving cash:    
Stock-based compensation 12,949 21,438
Shares issued to Hanmi Pharmaceutical as license fees 7,500 0
Depreciation and amortization 150 152
Amortization of right-of-use assets 472 462
Interest on lease liabilities 43 69
Unrealized foreign exchange gain/(loss) (7) (8)
Accrued interest on investments (18) 33
Change in operating working capital:    
Prepaid expenses 78 (1,529)
Operating lease payments (555) (537)
Other assets (4) 12
Accounts payable (472) 211
Accrued liabilities 1,914 1,044
Cash used in operating activities (43,304) (33,891)
Cash flows from financing activities:    
Offering costs paid 0 (168)
Issuance of common shares pursuant to exercise of stock options 190 573
Cash provided by financing activities 226 58,807
Cash flows from (used in) investing activities:    
Maturity (acquisition) of investments, net (34,996) 12,707
Purchase of property and equipment (212) (79)
Cash provided by (used in) investing activities (35,208) 12,628
Effect of exchange rate fluctuations on cash and cash equivalents held 7 7
Increase/(decrease) in cash and cash equivalents (78,279) 37,551
Cash and cash equivalents, beginning of year 117,393 79,842
Cash and cash equivalents, end of year 39,114 117,393
The 2020 ATM Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares 36 0
Public Offering [Member]    
Cash flows from financing activities:    
Issuance of common shares $ 0 $ 58,402