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Note 8 - Share-based Compensation
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Share-Based Payment Arrangement [Text Block]

8.

Share-based compensation

 

2017 Omnibus Incentive Plan

 

On February 24, 2017, in connection with the IPO, the Company’s board of directors and shareholders approved an equity compensation plan, the 2017 Omnibus Incentive Plan (the “2017 Plan”), which became effective on March 9, 2017, to provide an additional incentive to selected officers, employees, non-employee directors, independent contractors and consultants of the Company (the “Participants”). The share awards granted by the Company under the 2017 Plan contain service conditions, and will generally vest based on a time-based vesting schedule determined by the administrator of the 2017 Plan. Certain awards also contain (1) performance conditions with respect to research and development progress or/and business development progress, or/and (2) market conditions with respect to the share price of the Company. Under the 2017 Plan, the maximum number of the Company’s ordinary shares reserved for issuance is 5,277,197 shares.

 

During the three months ended March 31, 2025, the Company did not granted any awards under the 2017 Plan.

 

The following table summarizes total share-based compensation expense recognized under 2017 Plan for the three months ended March 31, 2024 and 2025:

 

   

Three months ended March 31,

  
   

2024

    

2025

  
   

$

    

$

  
   

(unaudited)

    

(unaudited)

  
                 

Research and development

     58       26  

General and administrative

     160       192  
                 

Total

     218       218  

 

SEED 2022 Share Incentive Plan

 

In 2022, SEED adopted its 2022 Share Incentive Plan (the “SEED Plan”). Under this plan, SEED has granted share options to some of its employees and consultants, which will be settled by SEED in its ordinary shares upon exercise of those options. These awards are generally subject to a four-year or five-year time-based vesting schedule as determined by the administrator of the plan.

 

During the three months ended March 31, 2025, SEED granted a total of 4,500 share options under the SEED Plan.

 

The following table summarizes total share-based compensation expense recognized under the SEED Plan for the three months ended March 31, 2024, and 2025. These expenses were included in loss from discontinued operations for all the periods presented.

 

   

Three months ended March 31,

  
   

2024

    

2025

  
   

$

    

$

  
   

(unaudited)

    

(unaudited)

  
                 

Research and development

     16       8  

General and administrative

     17       18  
                 

Total

     33       26