Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows used in operating activities:    
Net loss and comprehensive loss for the period $ (50,379) $ (25,932)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation of property and equipment 165 12
Amortization of intangible assets 523 286
Share-based compensation expense 7,821 3,496
Other, net (2,111) 870
Net changes in operating assets and liabilities    
Accounts receivable (1,187) 0
Inventories (2,009) 0
Prepaid expenses and other current assets 308 (2,661)
Non-current assets 229 0
Right of use assets (272) (5,764)
Accounts payable and accrued liabilities (7,103) 1,234
Lease liabilities 474 5,851
Net cash used in operating activities (53,541) (22,608)
Cash flows used in investing activities:    
Purchase of short-term investments (115,168) (11,913)
Proceeds from maturities of short-investments 60,940 0
Purchases of equipment (136) (79)
Upfront lease payment (11,838) 0
Internal use-software implementation costs (1,039) (86)
Capitalized patent costs (6) (48)
Net cash used in investing activities (67,247) (12,126)
Cash flows from financing activities    
Proceeds from exercise of stock options 4,999 2,920
Proceeds from exercise of warrants 30 2
Net proceeds from issuance of common shares 0 0
Net cash provided by financing activities 5,029 2,922
Net (decrease) increase in cash and cash equivalents during the year (115,759) (31,812)
Cash and cash equivalents, beginning of the year 272,350 306,019
Cash and cash equivalents, end of the year 156,591 274,207
Supplemental cash flow information:    
Cash received for interest $ 425 $ 891