Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
OPERATING ACTIVITIES    
Loss for the period $ 16,995 $ 5,104
Add items not involving cash    
Depreciation and amortization 71 56
Stock-based compensation [note 5(c)] 1,610 866
Gain on warrants [notes 4 and 5] (2,522) (9,021)
Changes in non-cash items    
Amounts receivable (326) 237
Prepaid expenses (8,705) (865)
Accounts payable and accrued liabilities 2,501 572
Restricted cash 63 125
Lease obligation (567) (103)
Deferred collaboration revenue (9,126) (2,586)
Cash used in operating activities (33,996) (15,823)
FINANCING ACTIVITIES    
Proceeds from exercise of stock options 460 213
Proceeds from issuance of common shares, net of issuance costs 53,777  
Cash provided by financing activities 54,237 213
INVESTING ACTIVITIES    
Proceeds from sale of investments 47,012 68,521
Purchase of investments (84,313) (60,590)
Purchase of property and equipment (114) (76)
Cash provided by (used in) investing activities (37,415) 7,855
Effect of exchange rate changes on cash and cash equivalents 19 (55)
Decrease in cash and cash equivalents during the period (17,155) (7,810)
Cash and cash equivalents, beginning of the period 28,517 23,533
Cash and cash equivalents, end of the period 11,362 15,723
Supplemental cash flow information    
Property and equipment acquired under lease obligation   $ 90