Shareholders' Equity (Tables)
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12 Months Ended |
Dec. 31, 2020 |
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| Equity [Abstract] |
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| Schedule of Anticipated and Actual Use of Net Proceeds |
A summary of the anticipated and actual use of net proceeds used to date from the above financings is set out in the table below.
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| Allocation of net proceeds |
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Total net proceeds from financings (in thousands) |
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Net proceeds used to date (in thousands) |
| March 20, 2017 Offering |
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|
|
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| R&D Activities |
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$ |
123,400 |
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|
$ |
123,400 |
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| Working capital and corporate purposes |
|
38,924 |
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|
38,924 |
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|
|
162,324 |
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|
162,324 |
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| November 30, 2018 ATM facility |
|
28,830 |
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|
28,830 |
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| September 2019 ATM facility |
|
14,371 |
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|
14,371 |
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| December 2019 Public Offering: |
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|
|
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| Pre-commercial and launch activities, working capital and corporate purposes |
|
179,918 |
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|
44,181 |
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| July 2020 Public Offering: |
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| Pre-commercial and launch related activities |
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$117,000 to $143,000 |
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— |
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| R&D activities |
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$28,000 to $34,000 |
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— |
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| Working capital and corporate purposes |
|
10,500 to 42,500 |
|
— |
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|
|
187,700 |
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|
— |
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| Total |
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$ |
573,143 |
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|
$ |
249,706 |
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| Summary of Outstanding Warrants and Warrants Outstanding |
A summary of the outstanding warrants as of December 31, 2020 is presented below:
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Number of Warrants
(in Thousands) |
|
Weighted-Average
Exercise Price
$ |
| Expiry date: |
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| December 28, 2021 |
1,690 |
|
3.00 |
|
1,690 |
|
3.00 |
The warrant activity for 2019 and 2018 is as follows:
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Number of Warrants
(in thousands) |
| Balance at December 31, 2018 |
3,523 |
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| Warrants exercised |
(1,832) |
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| Balance at December 31, 2019 |
1,691 |
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| Warrants exercised |
(1) |
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| Balance at December 31, 2020 |
1,690 |
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| Schedule of Common Stock Outstanding Roll Forward |
The common share activity for 2020, 2019 and 2018 is as follows:
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Common Shares |
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Number of Shares
(in thousands) |
Amount (in thousands) |
| Balance at December 31, 2017 |
|
84,052 |
|
|
$ |
483,294 |
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| Issued pursuant to exercise of warrants |
|
1,172 |
|
|
3,977 |
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| Issued pursuant to exercise of stock options |
|
276 |
|
|
1,473 |
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| Balance at December 31, 2018 |
|
85,500 |
|
|
488,744 |
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| Issued pursuant to Public Offering |
|
12,782 |
|
|
191,737 |
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| Issued pursuant to At-the-Market (ATM) Facilities |
|
6,953 |
|
|
45,010 |
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| Share issue costs |
|
— |
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|
(13,629) |
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| Issued pursuant to exercise of warrants |
|
2,983 |
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|
12,428 |
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| Issued pursuant to exercise of stock options |
|
3,580 |
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|
22,197 |
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| Balance at December 31, 2019 |
|
111,798 |
|
|
746,487 |
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| Issued pursuant to Public Offering |
|
13,333 |
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|
200,000 |
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| Share issue costs |
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— |
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(12,268) |
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| Issued pursuant to exercise of warrants |
|
1 |
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2 |
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| Issued pursuant to exercise of stock options |
|
1,593 |
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|
10,107 |
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| Balance at December 31, 2020 |
|
126,725
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$ |
944,328
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