Financial Reports 2017

Quarterly Report Q1 2017

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17 Financial condition The condensed consolidated statements of financial position at March 31, 2017 and December 31, 2016 are presented in the following table. Current assets Current assets decreased by $15.1 million at March 31, 2017 compared to December 31, 2016. The decrease in current assets is mainly due to the decrease in cash and cash equivalents and marketable securities and short-term investments of $7.7 million and $11.1 million respectively. The decrease in current assets was partially offset by an increase in inventories of $4.0 million for the quarter ended March 31, 2017 compared to December 31, 2016. The increase in inventory is the result of the Corporation's manufacturing plasminogen in anticipation of the commercial launch of the therapeutic as well as a build-up in plasma raw materials. Capital assets Capital assets increased by $1.7 million at March 31, 2017 compared to December 31, 2016. The increase is mainly due the acquisition of production equipment to be installed and used at the CMO plant in Winnipeg. The equipment installed at the CMO can be relocated to other sites as needed. Total current liabilities Total current liabilities decreased by $5.9 million at March 31, 2017 compared to December 31, 2016 mainly due to the decrease in accounts payable and accrued liabilities and deferred revenues of $4.2 million and $1.0 million respectively. The decrease in accounts payable and accrued liabilities is mainly due to the payment of wages and severances for $3.6 million which were accrued in the previous quarter and to the overall decrease in trade payables resulting from the different timing of expenditures and payments. Share Capital Share capital increased by $27.8 million at March 31, 2017 compared to December 31, 2016 principally due to the issuance of shares following the exercise of 44,791,488 future investment rights, in February 2017 for an aggregate price of $21.1 million, and a transfer from warrants and future investment rights to share capital of $6.5 million. March 31, December 31, 2017 2016 Total current assets $ 49,192 $ 64,261 Other long-term assets 4,450 4,243 Capital assets 42,858 41,193 Intangible assets 155,563 155,487 Deferred tax assets 110 110 Total assets $ 252,173 $ 265,294 Total current liabilities $ 26,189 $ 32,058 Long-term liabilities 49,072 48,588 Deferred tax liabilities 24,182 25,305 Total liabilities $ 99,443 $ 105,951 Share capital 507,992 480,237 Contributed Surplus 14,096 12,919 Warrants and future investment rights 57,659 64,201 Accumulated other comprehensive income (1,834) (1,964) Deficit (450,359) (423,026) Equity attributable to owners of the parent 127,554 132,367 Non-controlling interests 25,176 26,976 Total equity 152,730 159,343 Total liabilities and equity $ 252,173 $ 265,294

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