Share Based Compensation (Tables)
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9 Months Ended |
Sep. 30, 2022 |
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| Share Based Compensation |
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| Schedule of outstanding and exercisable options |
| | | | | | | | | | | | | | | | 2022 | | | | | | | | | | | | | Weighted | | | Number | | | | average | | | of shares | | | | exercise | | | 2019 Plan | | Inducement Plan | | 2011 Plan | | Total | | price | Outstanding at beginning of year - 2011 Plan | | $ | — | | — | | $ | 1,995,971 | | 1,995,971 | | $ | 2.07 | Outstanding at beginning of year - 2019 Plan | | | 3,759,834 | | — | | | — | | 3,759,834 | | | 9.51 | Granted - 2019 Plan | | | 1,748,700 | | — | | | — | | 1,748,700 | | | 5.78 | Granted - Inducement Plan | | | — | | 523,000 | | | — | | 523,000 | | | 6.37 | Expired - 2011 Plan | | | — | | — | | | (1,121) | | (1,121) | | | 0.96 | Exercised - 2011 Plan | | | — | | — | | | (114,225) | | (114,225) | | | 1.38 | Exercised - 2019 Plan | | | (15,089) | | — | | | — | | (15,089) | | | 3.92 | Forfeited - 2019 Plan | | | — | | — | | | — | | — | | | 8.56 | Cancelled - 2011 Plan | | | — | | — | | | (19,387) | | (19,387) | | | 9.42 | Cancelled - 2019 Plan | | | (17,950) | | — | | | — | | (17,950) | | | 14.31 | Outstanding at end of period | | $ | 5,475,495 | | 523,000 | | | 1,861,238 | | 7,859,733 | | $ | 6.70 | Outstanding at end of period - Weighted average exercise price | | $ | 8.32 | | 6.37 | | $ | 2.04 | | | | | | Exercisable at end of period | | | 2,219,125 | | — | | | 1,831,482 | | 4,050,607 | | $ | 6.28 | Exercisable at end of period - Weighted average exercise price | | $ | 9.79 | | — | | $ | 2.01 | | | | | |
| | | | | | | | | | | | | | | | 2021 | | | | | | | | | | | | | Weighted | | | Number | | | | average | | | of shares | | | | exercise | | | 2019 Plan | | Inducement Plan | | 2011 Plan | | Total | | price | Outstanding at beginning of year - 2011 Plan | | $ | — | | — | | $ | 2,080,097 | | 2,080,097 | | $ | 2.15 | Outstanding at beginning of year - 2019 Plan | | | 1,706,190 | | — | | | — | | 1,706,190 | | | 13.55 | Granted - 2019 Plan | | | 2,065,200 | | — | | | — | | 2,065,200 | | | 6.24 | Forefeited - 2019 Plan | | | (13,882) | | — | | | — | | (13,882) | | | 12.81 | Cancelled - 2019 Plan | | | (1,167) | | — | | | — | | (1,167) | | | 21.48 | Exercised - 2011 Plan | | | — | | — | | | (40,538) | | (40,538) | | | 0.97 | Exercised - 2019 Plan | | | (1,250) | | — | | | — | | (1,250) | | | 3.74 | Outstanding at end of period | | | 3,755,091 | | — | | | 2,039,559 | | 5,794,650 | | $ | 6.94 | Outstanding at end of period - Weighted average exercise price | | $ | 9.53 | | — | | $ | 2.18 | | | | | | Exercisable at end of period | | | 938,433 | | — | | | 1,764,146 | | 2,702,579 | | $ | 5.39 | Exercisable at end of period - Weighted average exercise price | | $ | 11.61 | | — | | $ | 2.08 | | | | | |
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| Schedule of non-vested share options activity |
| | | | | | | | | | | | | | | | | 2022 | | | Number | | | | Weighted | | | of options | | | | average | | | 2019 Plan | | Inducement Plan | | 2011 Plan | | Total | | fair value | Non-vested share options at beginning of year - 2011 Plan | | | — | | | — | | | 200,639 | | 200,639 | | $ | 1.86 | Non-vested share options at beginning of year - 2019 Plan | | | 2,665,518 | | | — | | | — | | 2,665,518 | | | 6.39 | Granted - 2019 Plan | | | 1,748,700 | | | — | | | — | | 1,748,700 | | | 4.37 | Granted - Inducement Plan | | | — | | | 523,000 | | | — | | 523,000 | | | 4.81 | Vested, outstanding 2011 Plan | | | — | | | — | | | (170,883) | | (170,883) | | | 1.76 | Vested, outstanding 2019 Plan | | | (1,149,117) | | | — | | | — | | (1,149,117) | | | 5.99 | Forfeited - 2019 Plan | | | (8,731) | | | — | | | — | | (8,731) | | | 6.27 | Non-vested share options at end of period | | | 3,256,370 | | | 523,000 | | | 29,756 | | 3,809,126 | | $ | 5.34 | Non-vested share options at end of period - Weighted average fair value | | $ | 5.45 | | $ | — | | $ | 2.44 | | | | | |
| | | | | | | | | | | | | | | | | 2021 | | | Number | | | | Weighted | | | of options | | | | average | | | 2019 Plan | | Inducement Plan | | 2011 Plan | | Total | | fair value | Non-vested share options at beginning of year - 2011 Plan | | | — | | | — | | | 543,192 | | 543,192 | | $ | 1.81 | Non-vested share options at beginning of year - 2019 Plan | | | 1,438,026 | | | — | | | — | | 1,438,026 | | | 10.28 | Granted - 2019 Plan | | | 2,065,200 | | | — | | | — | | 2,065,200 | | | 4.71 | Vested, outstanding 2011 Plan | | | — | | | — | | | (267,789) | | (267,789) | | | 1.64 | Forfeited - 2019 Plan | | | (13,882) | | | — | | | | | (13,882) | | | 9.18 | Vested, outstanding 2019 Plan | | | (672,686) | | | — | | | — | | (672,686) | | | 9.17 | Non-vested share options at end of period | | | 2,816,658 | | | — | | | 275,403 | | 3,092,061 | | $ | 6.07 | Non-vested share options at end of period - Weighted average fair value | | $ | 6.47 | | $ | — | | $ | 1.98 | | | | | |
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| Schedule of weighted average assumptions for the options granted |
| | | | | | | | | | | | | | | Three months ended September 30, | | | Nine months ended September 30, | | | 2022 | | 2021 | | | 2022 | | 2021 | | Exercise price | $ | 6.94 | | $ | 5.96 | | | $ | 5.91 | | $ | 6.24 | | Share price | $ | 6.94 | | $ | 5.96 | | | $ | 5.91 | | $ | 6.24 | | Volatility | | 93 | % | | 94 | % | | | 91 | % | | 94 | % | Risk-free interest rate | | 2.94 | % | | 0.94 | % | | | 2.41 | % | | 1.04 | % | Expected life | | 5.75 | | | 6.08 | | | | 6.03 | | | 6.01 | | Dividend | | 0 | % | | — | % | | | 0 | % | | 0 | % |
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| Schedule of share-based compensation expense |
| | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | | | | 2022 | | 2021 | | 2022 | | 2021 | | Administration | | $ | 1,891 | | $ | 863 | | $ | 3,683 | | $ | 2,186 | | Research and development | | | 349 | | | 821 | | | 2,302 | | | 2,226 | | Commercial activities | | | 140 | | | 340 | | | 920 | | | 892 | | Total | | $ | 2,380 | | $ | 2,024 | | $ | 6,905 | | $ | 5,304 | |
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