Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
OPERATING ACTIVITIES      
Loss for the period $ (14,673) $ (12,584) $ (5,476)
Add items not involving cash      
Warrant issuance costs   1,027  
Gain on warrants (7,388) (96)  
Depreciation 75 52 50
Stock-based compensation [note 10[c]] 1,188 642 380
Restructuring expense [note 7]   4,038 3,951
Changes in non-cash working capital items      
Amounts receivable (payable) 412 1,885 (2,955)
Investment tax credit recoverable     1,090
Restricted cash 125 (502)  
Prepaid expenses 1,278 (1,763) (136)
Other assets   (4) (12)
Accounts payable and accrued liabilities 2,324 (13,560) 12,200
Lease obligation [note 7] (253) (1,069) (741)
Deferred collaboration revenue [note 4] (3,351) (4,906) 26,527
Cash provided by (used in) operating activities (20,263) (26,840) 34,878
FINANCING ACTIVITIES      
Cash paid on fractional shares eliminated on reverse share split 0 0 0
Proceeds from issuance of common stock under stock option and employee benefit plans 219 824 141
Issuance of warrants, net of warrant issuance costs   14,338  
Issuance of common shares, net of share issue costs   32,319 17,206
Cash provided by financing activities 219 47,481 17,347
INVESTING ACTIVITIES      
Purchase of investments (75,147) (93,018) (4,036)
Proceeds from sale of investments 100,294 33,960 6,280
Purchase of property and equipment (79) (68) (15)
Cash provided by (used in) investing activities 25,068 (59,126) 2,229
Effect of exchange rate changes on cash (40) (33) (21)
Increase (decrease) in cash and cash equivalents during the period 4,984 (38,518) 54,433
Cash and cash equivalents, beginning of the period 23,533 62,051 7,618
Cash and cash equivalents, end of the period 28,517 23,533 62,051
Supplemental cash flow information      
Property and equipment acquired under lease obligation $ 89   $ 65