Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Interim Statements of Cash Flows (Unaudited)

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Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from (used in) operating activities:    
Net loss for the period $ (16,227) $ (11,526)
Items not involving cash:    
Stock-based compensation 6,643 4,401
Depreciation and amortization 35 41
Amortization of right-of-use assets 117 115
Interest on lease liabilities 13 18
Unrealized foreign exchange gain (3) (15)
Accrued interest on investments (4) (60)
Change in operating working capital:    
Prepaid expenses 608 139
Other assets 13 24
Operating lease payments (137) (131)
Accounts payable (563) 57
Accrued liabilities (871) (1,174)
Cash used in operating activities (10,376) (8,111)
Cash flows from financing activities:    
Issuance of common shares pursuant to exercise of stock options 75 436
Cash provided by financing activities 75 436
Cash flows from (used in) investing activities:    
Acquisition of investments, net (19,995) (12,411)
Purchase of property and equipment (17) (16)
Cash used in investing activities (20,012) (12,427)
Effect of exchange rate fluctuations on cash and cash equivalents held 3 14
Decrease in cash and cash equivalents (30,310) (20,088)
Cash and cash equivalents, beginning of period 117,393 79,842
Cash and cash equivalents, end of period $ 87,083 $ 59,754