Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Loss for the year $ (38,298) $ (9,126)
Adjustments to reconcile net loss to net cash used in operating activities    
Amortization of intangible assets 2 10
Depreciation of property and equipment 30  
Impairment of in-process research and development 16,094  
Change in fair value of milestone liability (6)  
Interest expense 30  
Amortization of deferred loan costs 94  
Shares issued for services   13
Warrants issued for services 569 193
Stock option expense 5,276 495
Changes in operating assets and liabilities    
Prepaid expenses, deposits and other (381) (59)
Clinical trial deposits (2,100)  
Accounts payable and accrued liabilities (67) 207
Related party payables (103) 339
Net cash used in operating activities (18,860) (7,928)
Cash flows from investing activities    
Cash acquired on merger with Adgero 969  
Purchase of equipment (8)  
Proceeds on sale of equipment 3  
Net cash provided by investing activities 964  
Cash flows from financing activities    
Net proceeds from the issuance of shares and warrants 21,598 6,583
Warrants exercised for cash 4,404 51
Stock options exercised for cash 77  
Proceeds from loan 500  
Repayment of loan (500)  
Interest paid (30)  
Deferred financing costs   (25)
Series A preferred cash dividend (8) (8)
Net cash provided by financing activities 26,041 6,601
Increase (decrease) in cash and cash equivalents 8,145 (1,327)
Cash and cash equivalents – beginning of year 2,392 3,719
Cash and cash equivalents – end of year $ 10,537 $ 2,392