Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net loss $ (102,680) $ (88,385) $ (53,079)
Adjustments to reconcile consolidated net loss to net cash used in operating activities:      
Depreciation of property and equipment 82 33 20
Amortization of intangible assets 1,289 1,138 1,293
Royalty obligation expense 6,800 8,200 0
Share-based compensation 17,454 7,414 6,860
Other, net 2,677 5,986 (706)
Net changes in operating assets and liabilities:      
Accrued interest and other receivables (650) (151) (108)
Inventories (13,927) 0 0
Prepaid expenses and deposits 2,559 (1,826) (5,004)
Right of use assets (5,489) 0 0
Accounts payable and accrued liabilities 13,620 4,006 (887)
Lease liabilities 8,407 0 0
Net cash used in operating activities (69,858) (63,585) (51,611)
Cash flows from investing activities:      
Proceeds on disposal/maturity of short-term debt securities 52,108 7,884 36,093
Purchase of short-term debt securities (202,951) 0 (36,084)
Purchase of long-lived assets (5,584) (85) (74)
Purchase of cloud based arrangements (1,675) 0 0
Capitalized patent costs (84) (16) 0
Net cash used in investing activities (158,186) 7,783 (65)
Cash flows from financing activities:      
Proceeds from issuance of common shares pursuant to Public Offering, net of issuance costs 187,732 223,118 0
Proceeds from exercise of share options 6,642 13,748 943
Proceeds from exercise of warrants 1 6,988 3,071
Net cash provided by financing activities 194,375 243,854 4,014
Net (decrease) increase in cash and cash equivalents during the year (33,669) 188,052 (47,662)
Cash and cash equivalents, beginning of the year 306,019 117,967 165,629
Cash and cash equivalents, end of the year 272,350 306,019 117,967
Supplemental cash flow information:      
Cash paid for legal settlement 0 100 0
Cash received for interest 1,884 2,619 2,148
Cash paid for taxes $ 261 $ 59 $ 0