INTEC PHARMA LTD. | ||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||
(Unaudited) | ||
Three months ended March 31 | ||
2019 | 2018 | |
U.S. dollars in thousands | ||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (10,656) | $ (10,729) |
Adjustments required to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 218 | 206 |
Exchange differences on cash and cash equivalents | 8 | (40) |
Right of use asset | 163 | |
Lease liability | (98) | - |
Losses on marketable securities | - | 73 |
Share-based compensation | 943 | 723 |
Changes in operating assets and liabilities: | ||
Decrease (increase) in prepaid expenses and other receivables | 340 | (98) |
Increase in deferred tax assets | (69) | - |
Increase (decrease) in accounts payable and accruals | 1,813 | (390) |
Increase in other liabilities | 76 | - |
Net cash used in operating activities | (7,262) | (10,255) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of property and equipment | (10) | (2,022) |
Investment in other assets | (1,206) | - |
Proceeds from disposal of marketable securities, net | 576 | 46 |
Net cash used in investing activities | (640) | (1,976) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from exercise of options | 161 | - |
Net cash provided by financing activities | 161 | - |
DECREASE IN CASH AND CASH EQUIVALENTS | (7,741) | (12,231) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD | 39,246 | 53,393 |
EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS | (8) | 40 |
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD | $ 31,497 | $ 41,202 |
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Liability with respect to property and equipment | $ 462 | $ - |
Liability with respect to other assets | 648 | $ - |
Receivables with respect to exercise of options | $ 96 | $ - |
SUPPLEMENTARY DISCLOSURE OF CASH FLOW INFORMATION: | ||
Interest received | $ 128 | $ 117 |