v3.21.1

Shareholders' equity (Tables)

3 Months Ended

Mar. 31, 2021

Shareholders’ equity

Schedule of additional paid-in capital

		Three months ended March 31,
		2021			2020
Opening balance		$	8,530		$	3,805
Share-based compensation expense			1,368			981
Exercise of stock options			(15)			(56)
Closing balance		$	9,883		$	4,730

Schedule of outstanding and exercisable options

		2021											2020
										Weighted											Weighted
			Number							average				Number							average
			of shares							exercise				of shares							exercise
			2019 Plan			2011 Plan		Total		price				2019 Plan			2011 Plan		Total		price
Outstanding at beginning of year - 2011 Plan			—			2,080,087		2,080,087		$	2.15			—			2,364,526		2,364,526		$	2.15
Outstanding at beginning of year - 2019 Plan			1,706,190			—		1,706,190			13.55			220,140			—		220,140			20.78
Granted - 2019 Plan			1,863,950			—		1,863,950			6.31			765,160			—		765,160			21.49
Exercised - 2011 Plan			—			(16,753)		(16,753)			0.88			—			(53,722)		(53,722)			1.44
Exercised - 2019 Plan			(1,250)			—		(1,250)			3.74			—			—		—			—
Forfeited - 2011 Plan			—			—		—			—			—			(4,978)		(4,978)			2.12
Forfeited - 2019 Plan			—			—		—			—			(2,750)			—		(2,750)			21.48
Outstanding at end of period			3,568,890			2,063,334		5,632,224		$	6.99			982,550			2,305,826		3,288,376		$	7.89
Outstanding at end of period - Weighted average exercise price		$	9.77		$	2.16							$	21.33		$	2.17
Exercisable at end of period			591,885			1,613,229		2,205,114		$	4.86			5,660			1,327,637		1,333,297		$	1.92
Exercisable at end of period - Weighted average exercise price		$	12.55		$	2.05							$	18.43	$		1.85

Schedule of non-vested share options activity

	2021										2020
		Number						Weighted				Number						Weighted
		of options						average				of options						average
		2019 Plan		2011 Plan		Total		fair value				2019 Plan		2011 Plan		Total		fair value
Non-vested share options at beginning of year - 2011 Plan		—		543,192		543,192		$	1.81			—		1,152,300		1,152,300		$	1.88
Non-vested share options at beginning of year - 2019 Plan		1,438,026		—		1,438,026		$	10.28			218,975		—		218,975		$	14
Granted - 2019 Plan		1,863,950		—		1,863,950			4.79			765,160		—		765,160			15.19
Vested, outstanding 2011 Plan		—		(93,087)		(93,087)			1.61			—		(169,133)		(169,133)			5.81
Vested, outstanding 2019 Plan		(324,971)		—		(324,971)			11.38			(4,495)		—		(4,495)			12.85
Forfeited - 2011 Plan		—		—		—			—			—		(4,978)		(4,978)			1.52
Forfeited - 2019 Plan		—		—		—			—			(2,750)		—		(2,750)			15.25
Non-vested share options at end of period		2,977,005		450,105		3,427,110		$	6.08			976,890		978,189		1,955,079		$	8.12
Non-vested share options at end of period - Weighted average fair value	$	6.72	$	1.85							$	11.80	$	1.21

Schedule of weighted average assumptions for the options granted

	2021			2020
Exercise price	$	6.31		$	21.41
Share price	$	6.31		$	21.41
Volatility		94	%		82	%
Risk-free interest rate		1.06	%		1.60	%
Expected life		6.10 years			6.24 years
Dividend		0	%		0	%

Schedule of share-based compensation expense

		2021			2020
Administration		$	573		$	399
Research and development			580			386
Commercial activities			215			196
		$	1,368		$	981

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- Definition

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