XML 29 R19.htm IDEA: XBRL DOCUMENT
v3.23.3

Common Stock (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Equity [Abstract] |
Summary of Stock Options Activity | Stock option transactions and the number of stock options outstanding are summarized below:
|  | Number of |  |  | Weighted |
|  | Optioned |  |  | Average |
|  | Common |  |  | Exercise |
|  | Shares |  |  | Price |
Balance, December 31, 2022 |  |  | 822,515 |  |  | $ | 18.57 |
Granted |  |  | 639,500 |  |  |  | 5.23 |
Expired |  |  | (33 | ) |  |  | 26,045.33 |
Balance, September 30, 2023 |  |  | 1,461,982 |  |  | $ | 12.15 |
Summary of Fair Value of Each Stock Award for Employees and Directors | The fair value of each stock award for employees and directors is estimated on the grant date and for consultants at each reporting period, using the Black-Scholes option-pricing model based on the weighted-average assumptions noted in the following table:
|  | Nine Months Ended |
|  | September 30, |
|  | 2023 |  |  | 2022 |
Risk-free interest rates |  |  | 3.60 | % |  |  | 1.65 | %
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Expected life |  |  | 5.75 |  |  |  | 5.80 |
Expected volatility |  |  | 115.19 | % |  |  | 122.80 | %
Summary of Share-Based Compensation Expense | The results for the periods set forth below included share-based compensation expense for stock options, restricted stock units and employee share purchase plan compensation expenses in the following expense categories of the consolidated statements of loss (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Research and development |  | $ | 387 |  |  | $ | 288 |  |  | $ | 1,173 |  |  | $ | 852 |
General and administrative |  | $ | 787 |  |  |  | 541 |  |  |  | 2,276 |  |  |  | 1,640 |
Total stock-based compensation |  | $ | 1,174 |  |  | $ | 829 |  |  | $ | 3,449 |  |  | $ | 2,492 |
Summary of Restricted Stock Unit Award Activity | The following table summarizes our restricted stock unit award activity during the nine months ended September 30, 2023:
|  |  |  |  | Weighted |
|  | Number |  |  | Average |
|  | of |  |  | Grant Date |
|  | Shares |  |  | Fair Value |
Balance, December 31, 2022 |  |  | 252,875 |  |  | $ | 8.77 |
Granted |  |  | 394,750 |  |  |  | 4.90 |
Released |  |  | (139,750 | ) |  |  | 9.18 |
Balance, September 30, 2023 |  |  | 507,875 |  |  | $ | 5.65 |
Summary of Outstanding Warrants | The following is a summary of outstanding warrants to purchase common stock as at September 30, 2023:
|  | Total |  |  |  |  |  |
|  | Outstanding |  |  | Exercise |  |  |
|  | and |  |  | price per |  |  |
|  | Exercisable |  |  | Share |  |  | Expiration Date
(1) Warrants issued in October 2018 financing |  |  | 31,215 |  |  | $ | 62.890 |  |  | October 2023
(2) Warrants issued in May 2019 financing |  |  | 60,000 |  |  | $ | 90.000 |  |  | May 2025
(3) Warrants issued in December 2019 financing |  |  | 510,924 |  |  | $ | 2.310 |  |  | December 2024
(4) Warrants issued in April 2020 financing |  |  | 182,461 |  |  | $ | 7.240 |  |  | April 2025
(5) Warrants issued in April 2020 financing |  |  | 24,375 |  |  | $ | 7.320 |  |  | April 2025
(6) Warrants issued in April 2020 financing |  |  | 25,270 |  |  | $ | 7.590 |  |  | April 2025
(7) Pre-Funded warrants issued in August 2020 financing |  |  | 142,857 |  |  | $ | 0.001 |  |  | *
(8) Warrants issued in December 2020 financing |  |  | 50,000 |  |  | $ | 8.750 |  |  | December 2025
(9) Warrants issued in November 2022 financing |  |  | 4,093,141 |  |  | $ | 4.500 |  |  | November 2029
*The pre-funded warrants do not have an expiration date.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in stock options. + References No definition available. + Details
Name: | us-gaap_ScheduleOfStockOptionsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-1 + Details
Name: | us-gaap_ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration