Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
OPERATING ACTIVITIES    
Loss for the period $ (6,860) $ (3,045)
Add items not involving cash    
Depreciation and amortization 19 19
Stock-based compensation [note 5(c)] 320 271
Loss on warrants [notes 4 and 5] 1,430 (2,128)
Changes in non-cash items    
Amounts receivable 38 (124)
Prepaid expenses (869) 1,519
Accounts payable and accrued liabilities (340) 273
Lease obligation (185) (247)
Deferred collaboration revenue (936) (581)
Cash used in operating activities (7,383) (4,043)
FINANCING ACTIVITIES    
Proceeds from issuance of common stock under stock option and employee purchase plans 2 91
Proceeds from issuance of common shares, net of issuance costs 53,777  
Cash provided by financing activities 53,779 91
INVESTING ACTIVITIES    
Proceeds from sale of investments 23,651 16,088
Purchase of investments (41,710) (28,614)
Purchase of property and equipment   (32)
Cash provided by (used in) investing activities (18,059) (12,558)
Effect of exchange rate changes on cash and cash equivalents (2) (25)
Decrease in cash and cash equivalents during the period 28,335 (16,535)
Cash and cash equivalents, beginning of the period 28,517 23,533
Cash and cash equivalents, end of the period 56,852 6,998
Supplemental cash flow information    
Property and equipment acquired under lease obligation   $ 71