COSCIENS Biopharma (CSCI) 6-K 5 Aug 21 2021 Q2 Current report (foreign) Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2021
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-38064
Entity Registrant Name	Aeterna Zentaris Inc.
Entity Central Index Key	0001113423

Condensed Interim Consolidated

Condensed Interim Consolidated Statements of Financial Position (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 69,868	$ 24,271
Trade and other receivables (note 5)	1,493	1,681
Inventory	59	21
Prepaid expenses and other current assets (note 6)	3,308	1,913
Total current assets	74,728	27,886
Restricted cash equivalents	328	338
Right of use assets	102	157
Property, plant and equipment	38	22
Identifiable intangible assets	541	59
Other assets	82
Goodwill	8,533	8,815
Total Assets	84,352	37,277
Current liabilities
Payables and accrued liabilities (note 7)	1,848	2,199
Current portion of provisions (note 8)	85	92
Income taxes	383	395
Current portion of deferred revenues	2,125	2,193
Current portion of lease liabilities	106	135
Total current liabilities	4,547	5,014
Deferred revenues	3,314	3,289
Lease liabilities	12	49
Employee future benefits (note 9)	14,867	15,435
Provisions (note 8)	265	279
Total liabilities	23,005	24,066
SHAREHOLDERS’ EQUITY
Share capital (note 10)	293,347	235,008
Warrants (note 10)	5,103	12,402
Other capital (note 10)	89,750	89,505
Deficit	(326,229)	(322,659)
Accumulated other comprehensive loss (“AOCI”)	(624)	(1,045)
Total shareholders’ equity	61,347	13,211
Total liabilities and shareholders’ equity	$ 84,352	$ 37,277

Condensed Interim Consolidate_2

Condensed Interim Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Issued capital [member]	Warrants [Member]	Other equity interest [member]	Retained earnings [member]	Accumulated Other Comprehensive Income [Member]	Total
Balance at Dec. 31, 2019	$ 224,528		$ 89,806	$ (316,891)	$ 94	$ (2,463)
Balance, shares at Dec. 31, 2019	19,994,510
IfrsStatementLineItems [Line Items]
Net loss				(2,671)		(2,671)
Other comprehensive loss: Foreign currency translation adjustments					1	1
Other comprehensive loss: Actuarial (loss) on defined benefit plans				(30)		(30)
Comprehensive loss				(2,701)	1	(2,700)
Reclassification of warrants upon registration		4,237				4,237
Issuance of common shares and warrants, net of transaction costs	$ 2,196		(362)			1,834
Issuance of common shares and warrants, net of transaction costs, shares	3,589,561
Share-based compensation costs			23			23
Balance at Jun. 30, 2020	$ 226,724	4,237	89,467	(319,592)	95	931
Balance, shares at Jun. 30, 2020	23,584,071
Balance at Dec. 31, 2020	$ 235,008	12,402	89,505	(322,659)	(1,045)	13,211
Balance, shares at Dec. 31, 2020	62,678,613
IfrsStatementLineItems [Line Items]
Net loss				(3,484)		(3,484)
Other comprehensive loss: Foreign currency translation adjustments					421	421
Other comprehensive loss: Actuarial (loss) on defined benefit plans				(86)		(86)
Comprehensive loss				(3,570)	421	(3,149)
Issuance of common shares and warrants, net of transaction costs	$ 29,082	1,897				30,979
Issuance of common shares and warrants, net of transaction costs, shares	23,586,207
Exercise of warrants (note 10)	$ 29,769	(9,728)				20,041
Exercise of warrants (note 10), shares	35,011,187
Transfer of warrant issuance costs upon 2021 exercise of warrants (note 10)	$ (532)	532
Transfer of warrant issuance costs upon 2021 exercise of warrants (note 10), shares
Exercise of deferred share units (note 10)	$ 20		(28)			(8)
Exercise of deferred share units (note 10), shares	21,000
Share-based compensation costs			273			273
Balance at Jun. 30, 2021	$ 293,347	$ 5,103	$ 89,750	$ (326,229)	$ (624)	$ 61,347
Balance, shares at Jun. 30, 2021	121,297,007

Condensed Interim Consolidate_3

Condensed Interim Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues (note 4)
Royalty income	$ 19	$ 10	$ 27	$ 24
Product sales				1,016
Supply chain	43	40	84	81
Licensing revenue	537	18	1,074	37
Total revenues	599	68	1,185	1,158
Operating expenses
Cost of sales	12	12	41	874
Research and development costs	738	189	1,101	508
General and administrative expenses	1,645	1,141	2,909	2,265
Selling expenses	318	199	564	447
Gain on modification of building lease		(34)		(219)
Total operating expenses (note 11)	2,713	1,507	4,615	3,875
Loss from operations	(2,114)	(1,439)	(3,430)	(2,717)
Gain (loss) due to changes in foreign currency exchange rates	82	130	(166)	26
Change in fair value of warrant liability		(2,139)		331
Other finance costs	(7)	(2)	(17)	(311)
Net finance income (costs)	75	(2,011)	(183)	46
Loss before income taxes	(2,039)	(3,450)	(3,613)	(2,671)
Income tax recovery			129
Net loss	(2,039)	(3,450)	(3,484)	(2,671)
Items that may be reclassified subsequently to profit or loss:
Foreign currency translation adjustments	(126)	(209)	421	1
Items that will not be reclassified to profit or loss:
Actuarial gain (loss) on defined benefit plans (note 9)	(968)	(1,418)	(86)	(30)
Comprehensive loss	$ (3,133)	$ (5,077)	$ (3,149)	$ (2,700)
Net loss per share [basic and diluted]	$ (0.02)	$ (0.15)	$ (0.03)	$ (0.12)
Weighted average number of shares outstanding (note 14):
Basic	121,203,227	23,515,579	108,395,537	22,519,497
Diluted	121,203,227	23,515,579	108,395,537	22,519,497

Condensed Interim Consolidate_4

Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net loss for the period	$ (2,039)	$ (3,450)	$ (3,484)	$ (2,671)
Items not affecting cash and cash equivalents:
Change in fair value of warrant liability		2,139		(331)
Transaction costs of warrants issued and expensed as finance cost				310
Utilization of provision (note 8)	1	(21)	20	(348)
Depreciation and amortization	36	39	72	146
Gain on modification of building lease		(34)		(219)
Share-based compensation costs	260	89	273	(23)
Employee future benefits (note 9)	50	50	99	99
Amortization of deferred revenues	(537)	(23)	(1,074)	(37)
Foreign exchange on items denominated in foreign currencies	(54)	(84)	212	(32)
Gain on disposal of property, plant and equipment	(1)	(2)	(1)	(2)
Other non-cash items	(114)	22	(85)	7
Interest accretion on lease liabilities	1	(4)	3	(15)
Payment of income taxes	(517)	(637)	(1,641)	(1,448)
Other asset	(82)		(82)
Changes in operating assets and liabilities (note 12)	(639)	(494)	1,008	(290)
Net cash used in operating activities	(3,635)	(2,410)	(4,680)	(4,854)
Cash flows from financing activities
Issuance of common shares (note 10)			34,200
Issuance of common shares and warrants (note 10)				4,500
Transaction costs (note 10)		(11)	(3,221)	(611)
Proceeds from exercise of warrants (note 10)	55		20,042
Payments on lease liabilities	(31)	(41)	(64)	(199)
Net cash provided by (used in) financing activities	24	(52)	50,957	3,690
Cash flows from investing activities
Proceeds from disposal of property, plant and equipment	1	6	1	6
Purchase of intangible assets			(490)
Purchase of property and equipment	(3)		(20)
Change in restricted cash equivalents		50		50
Net cash (used in) provided by investing activities	(2)	56	(509)	56
Effect of exchange rate changes on cash and cash equivalents	110	(33)	(171)	13
Net change in cash and cash equivalents	(3,503)	(2,439)	45,597	(1,095)
Cash and cash equivalents – Beginning of period	73,371	9,182	24,271	7,838
Cash and cash equivalents – End of period	$ 69,868	$ 6,743	$ 69,868	$ 6,743

Business overview

Business overview	6 Months Ended
	Jun. 30, 2021
Business overview	1. Business overview Summary of business Aeterna Zentaris (the “Company” or “Aeterna”) is a specialty biopharmaceutical company commercializing and developing therapeutics and diagnostic tests. The Company’s lead product, Macrilen™ (macimorelin), is the first and only U.S. Food and Drug Administration (“FDA”) and European Commission approved oral test indicated for the diagnosis of patients with adult growth hormone deficiency (“AGHD”). Macimorelin is currently marketed in the U.S. under the tradename Macrilen™ through a license agreement with Novo Nordisk Biopharm Limited (“Novo Nordisk”) where Aeterna Zentaris receives royalties on net sales. Macimorelin will be marketed in Europe and the United Kingdom through a license agreement with Consilient Health Ltd. (“Consilient Health”) and Aeterna Zentaris will receive royalties on net sales and other potential payments. The Company is conducting the Phase 3 study (“DETECT” trial) for macimorelin in the U.S. and Europe for the diagnosis of childhood-onset growth hormone deficiency (“CGHD”) in collaboration with Novo Nordisk. Novo Nordisk is paying 100% 9,000 10,700 9,000 10,700 In addition, the Company is pursuing innovative development candidates in different indications with a focus on rare or orphan indications and potential for pediatric use. COVID-19 impact In 2020, the COVID-19 pandemic began causing significant financial market declines and social dislocation and, to date, the Company has not experienced significant business disruption from COVID-19. The situation is dynamic with various cities and countries around the world are responding in different ways to address the outbreak. The spread of COVID-19 may impact the Company’s operations, including the potential interruption of our clinical trial activities and the Company’s supply chain, or that of the Company’s licensee. For example, the COVID-19 outbreak may delay enrollment in the Company’s clinical trials due to prioritization of hospital resources toward the outbreak, and some patients may be unwilling to be enrolled in the Company’s trials or be unable to comply with clinical trial protocols if quarantines impede patient movement or interrupt healthcare services, which would delay the Company’s ability to conduct clinical trials or release clinical trial results and could delay the Company’s ability to obtain regulatory approval and commercialize the Company’s product candidates. The pandemic may also impact the ability of the Company’s suppliers to deliver components or raw materials on a timely basis or at all. In addition, hospitals may reduce staffing and reduce or postpone certain treatments in response to the spread of an infectious disease. The Company’s licensee may be impacted due to significant delays of diagnostic activities in the U.S. Management will continue to monitor and assess the impact of the pandemic on its judgments, estimates, accounting policies and amounts recognized in these consolidated financial statements. As at June 30, 2021, the Company assessed the possible impacts of COVID-19 on its financial results. The Company has considered any impairment indicators on its financial assets, property, plant and equipment, intangible assets, and goodwill and considered no changes from the carrying amount were required in the reporting period. NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS AT JUNE 30, 2021 AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2021 AND 2020 (amounts in thousands of US dollars, except share/option/warrant and per share/option/warrant data and as otherwise noted) (Unaudited) Basis of presentation These unaudited condensed interim consolidated financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”) applicable to the preparation of interim financial statements, including IAS 34, Interim Financial Reporting. These unaudited condensed interim consolidated financial statements should be read in conjunction with the Company’s annual consolidated financial statements as at and for the year ended December 31, 2020. The accounting policies in these condensed interim consolidated financial statements are consistent with those presented in the Company’s annual consolidated financial statements. These unaudited condensed interim consolidated financial statements were approved by the Board of Directors (the “Board”) on August 4, 2021.

Critical accounting estimates a

Critical accounting estimates and judgements	6 Months Ended
	Jun. 30, 2021
Critical accounting estimates and judgements	2. Critical accounting estimates and judgements The preparation of condensed interim consolidated financial statements in accordance with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of the Company’s assets, liabilities, revenues, expenses and related disclosures. Judgments, estimates and assumptions are based on historical experience, expectations, current trends and other factors that management believes to be relevant at the time at which the Company’s condensed interim consolidated financial statements are prepared. Management reviews, on a regular basis, the Company’s accounting policies, assumptions, estimates and judgments in order to ensure that the condensed interim consolidated financial statements are presented fairly and in accordance with IFRS applicable to interim financial statements. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Critical accounting estimates and assumptions, as well as critical judgments used in applying accounting policies in the preparation of the Company’s condensed interim consolidated financial statements, were the same as those applied to the Company’s annual consolidated financial statements as of December 31, 2020 and 2019 and for the years then ended except for the following: Intangible assets Separately acquired intangible assets are recognized at the price paid in cash, less amortization and impairments. All intangible assets are tested for impairment when there are indications that the carrying value may not be recoverable, or, at a minimum, annually. The recoverable amount is determined as the higher of value in use or fair value less costs to sell using a discounted cash flow calculation, where the products’ expected cash flows are risk-adjusted over their estimated remaining useful economic life. Any impairment losses are recognized immediately in the consolidated statements of comprehensive (loss) income. Intangible assets relating to products which fail during development (or for which development ceases for other reasons) are also tested for impairment and are written down to their recoverable amount (which is usually nil). If, subsequent to an impairment loss being recognized, development restarts or other facts and circumstances change indicating that the impairment is less or no longer exists, the value of the asset is re-estimated and its carrying value is increased to the recoverable amount, but not exceeding the original value, by recognizing an impairment reversal in the consolidated statements of comprehensive (loss) income. Amortization of such intangible assets begins once such assets are ready for their intended use. NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS AT JUNE 30, 2021 AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2021 AND 2020 (amounts in thousands of US dollars, except share/option/warrant and per share/option/warrant data and as otherwise noted) (Unaudited) Contingent payments The Company accounts for contingent variable payments for separately acquired intangible assets with the cost accumulation approach. Contingent consideration is not considered on initial recognition of the asset but is added to the cost of the asset initially recorded, when incurred. Measurement uncertainty: The significant spread of COVID-19 within the U.S., Canada, Germany and elsewhere has resulted in a widespread health crisis and has had adverse effects on local, national and global economies generally, the markets the Company serves, its operations and the market price of its common shares. Uncertain factors, including the duration of the outbreak, the severity of the disease and the actions to contain or treat its impact, could cause interruptions in the Company’s operations and supply chain, which could impact the Company’s ability to accurately measure the net realizable value of inventory and fair value of trade and other receivables.

Recent accounting pronouncement

Recent accounting pronouncements issued but not yet effective	6 Months Ended
	Jun. 30, 2021
Recent accounting pronouncements issued but not yet effective	3. Recent accounting pronouncements issued but not yet effective The recent accounting pronouncements issued but not yet effective included in note 4 to the Company’s annual audited consolidated financial statements as at December 31, 2020 are unchanged.

License, supply and distributio

License, supply and distribution arrangements	6 Months Ended
	Jun. 30, 2021
License, supply and distribution arrangements	4. License, supply and distribution arrangements (a) License Agreement for U.S. and Canada Royalty income earned under the agreement with Novo Nordisk agreement for the six-month period ended June 30, 2021 was $ 19 24 3,324 310 83 $ 83 (2020 85 81 (b) License agreement for the European Union and the United Kingdom On December 7, 2020, the Company entered into an exclusive licensing and supply agreements with Consilient Health Ltd. (“CH” or “Consilient Health”) for the commercialization in the European Union and the United Kingdom of macimorelin in any diagnostic application. As per the agreement terms, the Company received a cash payment of €1 1,207 NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS AT JUNE 30, 2021 AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2021 AND 2020 (amounts in thousands of US dollars, except share/option/warrant and per share/option/warrant data and as otherwise noted) (Unaudited)

Trade and other receivables

Trade and other receivables	6 Months Ended
	Jun. 30, 2021
Trade and other receivables	5. Trade and other receivables Schedule of Trade and Other Receivables June 30, 2021 December 31, 2020 $ $ Trade accounts receivable (net of expected credit losses of $ 55 55 1,010 1,190 Value added tax and income tax receivable 462 468 Other 21 23 Trade and other receivables 1,493 1,681

Prepaid expenses and other curr

Prepaid expenses and other current assets	6 Months Ended
	Jun. 30, 2021
Prepaid expenses and other current assets	6. Prepaid expenses and other current assets Prepaid Expenses and Other Current Assets June 30, 2021 December 31, 2020 $ $ Prepaid insurance 651 1,021 Prepaid income taxes 2,584 873 Other 73 19 Prepaid expenses and other current assets 3,308 1,913

Payables and accrued liabilitie

Payables and accrued liabilities	6 Months Ended
	Jun. 30, 2021
Payables and accrued liabilities	7. Payables and accrued liabilities Schedule of Payables and Accrued Liabilities June 30, 2021 December 31, 2020 $ $ Trade accounts payable 607 1,187 Salaries, employment taxes and benefits 157 474 Accrued audit fees 126 144 Accrued research and development costs 642 23 Other accrued liabilities 316 371 Payables and accrued liabilities 1,848 2,199 NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS AT JUNE 30, 2021 AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2021 AND 2020 (amounts in thousands of US dollars, except share/option/warrant and per share/option/warrant data and as otherwise noted) (Unaudited)

Provisions

Provisions	6 Months Ended
	Jun. 30, 2021
Provisions	8. Provisions The changes in the Company’s provisions for onerous contracts can be summarized as follows: Schedule of Changes in Provisions for Onerous Contracts Cetrotide (R) $ Balance – January 1, 2021 371 Utilization of provisions (25 ) Change in provisions 20 Impact of foreign exchange rate changes (16 ) Balance – June 30, 2021 350 Less current portion 85 Non-current portion 265

Employee future benefits

Employee future benefits	6 Months Ended
	Jun. 30, 2021
Employee future benefits	9. Employee future benefits The Company sponsors pension plans in Germany (The Aeterna Zentaris GmbH Pension Plan). The change in the Company’s accrued benefit obligations is summarized as follows: Disclosure of Net Defined Benefit Liability (Asset) June 30, 2021 Year ended December 31, 2020 Pension benefit plans Other benefit plans Total Total $ $ $ $ Balances – Beginning of the period 15,341 94 15,435 13,788 Current service cost 31 2 33 54 Interest cost 45 — 45 163 Actuarial (gain) loss arising from changes in financial assumptions 86 — 86 651 Benefits paid (230 ) (2 ) (232 ) (532 ) Impact of foreign exchange rate changes (498 ) (2 ) (500 ) 1,311 Balances – End of the period 14,775 92 14,867 15,435 Amounts recognized: In net loss (76 ) — (76 ) (218 ) In other comprehensive loss (412 ) (2 ) (414 ) (1,961 ) The calculation of the pension benefit obligation is sensitive to the discount rate assumption. Discount rates were 0.6% 1% 1%

Share capital, warrants and oth

Share capital, warrants and other capital	6 Months Ended
	Jun. 30, 2021
Share capital, warrants and other capital	10. Share capital, warrants and other capital The Company has an unlimited number of authorized common shares (being voting and participating shares) with no par value, as well as an unlimited number of preferred, first and second ranking shares, issuable in series, with rights and privileges specific to each class, with no par value. NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS AT JUNE 30, 2021 AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2021 AND 2020 (amounts in thousands of US dollars, except share/option/warrant and per share/option/warrant data and as otherwise noted) (Unaudited) 2021 During the second quarter of 2021, directors who were no longer on the Company’s Board redeemed their DSUs in full whereby 21,000 On February 19, 2021, the Company closed a public offering of 20,509,746 1.45 29,739 2,837 3,076,461 1,435,682 1.8125 26,902 3,076,461 4,461 384 215,352 1.8125 February 17, 2026 4,077 34,200 3,221 1,897 The table presented below shows the inputs and assumptions applied to the Black-Scholes option pricing model in order to determine the fair value of these Placement agent warrants: Schedule of Fair Value of Warrants Assumptions Number of equivalent shares Market value per share price Weighted average exercise price Risk-free annual interest rate Expected volatility Expected life (years) Expected dividend yield ($) ($) (i) (ii) (iii) (iv) February 2021 Placement agent warrants – public offering 1,435,682 1.48 1.8125 0.58734 % 119.18 % 4.99 0.00 % February 2021 Placement agent warrants – Underwriter Option 215,352 1.48 1.8125 0.58544 % 119.57 % 4.98 0.00 % (i) Based on United States Treasury Government Bond interest rates with a term that is consistent with the expected life of the warrants. (ii) Based on the historical volatility of the Company’s stock price over the most recent period consistent with the expected life of the warrants. (iii) Based upon time to expiry from the issuance date. (iv) The Company has not paid dividends and it does not intend to pay dividends in the foreseeable future. NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS AT JUNE 30, 2021 AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2021 AND 2020 (amounts in thousands of US dollars, except share/option/warrant and per share/option/warrant data and as otherwise noted) (Unaudited) During the six-month period ended June 30, 2021, holders exercised warrants as follows: Summary of Warrants Exercise Transactions Number Exercised Exercise Price Cash Receipts September 2019 Investor warrants 2,000,000 $ 1.65 $ 3,300,000 February 2020 Investor warrants 1,739,130 $ 1.20 $ 2,086,956 July 2020 Investor warrants 20,945,555 $ 0.45 $ 9,425,500 July 2020 Placement Agent warrants 1,866,667 $ 0.5625 $ 1,050,000 August 2020 Investor warrants 7,589,883 $ 0.47 $ 3,567,245 August 2020 Placement Agent warrants 869,952 $ 0.7040625 $ 612,501 35,011,187 $ 20,042,202 2020 On February 21, 2020, the Company closed a registered direct offering for 3,478,261 1.29 2,608,696 1.20 243,478 1.62 3,900 4,500 2,325 2,175 600 310 Warrants Schedule of Warrants Activity Reclassified into Equity Weighted average exercise price Number (US$) $ Balance – January 1, 2020 — — — Warrant liability reclassified to equity 16,368,033 0.8556 7,377 Warrants issued as equity, net (July 2020) 28,533,333 0.4574 5,025 - - - - - - - Balance – December 31, 2020 44,901,366 0.6025 12,402 Warrants granted 1,651,034 1.8125 1,897 Warrants exercised (35,011,187 ) 0.5725 (9,728 ) Allocation of transaction costs to share capital — — 532 Balance – June 30, 2021 11,541,213 0.8668 5,103 During the second quarter of 2021, due to the 2021 exercise of certain of the July 2020 issued Investor and Placement Agent warrants, the Company transferred to share capital $ 532 666 NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS AT JUNE 30, 2021 AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2021 AND 2020 (amounts in thousands of US dollars, except share/option/warrant and per share/option/warrant data and as otherwise noted) (Unaudited) Other capital Disclosure of Change in Stock Options Issued Six-Months ended June 30, 2021 US$ Stock options Weighted average exercise price DSUs (Number) (US$) (Number) Balance – Beginning of period 506,400 1.44 173,000 Granted — — 280,000 Exercised — — (30,000 ) Balance – End of period 506,400 1.44 423,000

Operating expenses

Operating expenses	6 Months Ended
	Jun. 30, 2021
Operating expenses	11. Operating expenses The nature of the Company’s operating expenses from operations include the following: Schedule of Operating Expenses 2021 2020 Six months ended June 30, 2021 2020 $ $ Key management personnel: Salaries and short-term employee benefits 618 483 Consultant fees 86 76 Share-based compensation costs 265 127 Post-employment benefits including defined contribution plan benefits of $ 14 9 28 27 Key management personnel compensation 997 713 Other employees: Salaries and short-term employee benefits 508 491 Post-employment benefits including defined contribution plan benefits of $ 8 11 73 92 Share-based compensation costs 8 (104 ) Other employees compensation 589 479 Cost of inventory used and services provided 41 874 Professional fees 1,367 929 Consulting fees 259 274 Insurance 444 432 Third-party research and development 449 74 Travel 38 41 Marketing services 105 29 Laboratory supplies 69 — Other goods and services 75 50 Leasing costs 64 62 Gain on modification of building lease — (219 ) Depreciation and amortization 72 146 Operating foreign exchange losses (gains) 46 (9 ) Total operating expenses (note 11) 4,615 3,875 NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS AT JUNE 30, 2021 AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2021 AND 2020 (amounts in thousands of US dollars, except share/option/warrant and per share/option/warrant data and as otherwise noted) (Unaudited)

Supplemental disclosure of cash

Supplemental disclosure of cash flow information	6 Months Ended
	Jun. 30, 2021
Supplemental disclosure of cash flow information	12. Supplemental disclosure of cash flow information Disclosure of Changes in Operating Assets and Liabilities 2021 2020 2021 2020 Three months ended Six months ended June 30, June 30, 2021 2020 2021 2020 $ $ $ $ Changes in operating assets and liabilities: Trade and other receivables (547 ) (149 ) 103 (156 ) Inventory 1 (8 ) (39 ) 828 Prepaid expenses and other current assets 408 (279 ) 315 99 Payables and accrued liabilities (430 ) 41 (315 ) (451 ) Taxes payable — — (129 ) — Deferred revenues 3 11 1,230 (395 ) Employee future benefits (74 ) (110 ) (157 ) (215 ) Changes in operating assets and liabilities (639 ) (494 ) (1,008 ) (290 )

Segment information

Segment information	6 Months Ended
	Jun. 30, 2021
Segment information	13. Segment information The Company operates in a single

Net loss per share

Net loss per share	6 Months Ended
	Jun. 30, 2021
Net loss per share	14. Net loss per share The following table sets forth pertinent data relating to the computation of basic and diluted net loss per share attributable to common shareholders. Summary of Pertinent Data Relating to Computation of Basic and Diluted Net (Loss) Income Per Share 2021 2020 2021 2020 Three months ended Six months ended June 30, June 30, 2021 2020 2021 2020 $ $ $ $ Net loss (2,039 ) (3,450 ) (3,484 ) (2,671 ) Basic weighted average number of shares outstanding 121,203,227 23,515,579 108,395,537 22,519,497 Net loss income per share (basic) (0.02 ) (0.15 ) (0.03 ) (0.12 ) Dilutive effect of stock options and DSUs — — — — Dilutive effect of warrants — — — — Diluted weighted average number of shares outstanding 121,203,227 23,515,579 108,395,537 22,519,497 Net loss per share (diluted) (0.02 ) (0.15 ) (0.03 ) (0.12 ) Items excluded from the calculation of diluted net loss per share because the exercise price was greater than the average market price of the common shares or due to their anti-dilutive effect Stock options and DSUs 929,400 499,410 929,400 499,410 Warrants 11,541,213 8,508,174 11,541,213 8,508,174 NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS AT JUNE 30, 2021 AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2021 AND 2020 (amounts in thousands of US dollars, except share/option/warrant and per share/option/warrant data and as otherwise noted) (Unaudited) Net loss per share is calculated by dividing net loss by the weighted average number of shares outstanding during the relevant period. Diluted weighted average number of shares reflects the dilutive effect of equity instruments, such as any “in the money” stock options and warrants. In periods with reported net losses, all stock options and warrants are deemed anti-dilutive such that basic net loss per share and diluted net loss per share are equal, and thus “in the money” stock options and warrants have not been included in the computation of net loss per share because to do so would be anti-dilutive.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies	15. Commitments and Contingencies Schedule of Expected Future Minimum Lease Payments Service and manufacturing R&D contracts TOTAL $ $ $ Less than 1 year 660 1,109 1,769 1 - 3 years 584 724 1,308 4 - 5 years — — — More than 5 years — — — Total 1,244 1,833 3,077 During the first quarter of 2021, the Company executed various agreements including in-licensing and similar arrangements with development partners with $ 490 Based on the closing exchange rates, the Company expects to pay $ 1,833 , including $1,585 [EUR 1,518 ], and $248 [GBP 206 ], in R&D contracts and up to $ 4,770 , including $3,179 [EUR 2,675 ] and $1,591 [GBP 1,150 ], in R&D milestone payments and up to $ 7,733 , including $6.003 [EUR 5,050 ] and $1,730 [GBP 1,250 ], in revenue related milestone payments. Schedule of R&D and Revenue Related Milestone Payments Future potential R&D milestone payments Future potential revenue milestone payments TOTAL $ $ $ Less than 1 year 30 — 30 1 - 3 years — — — 4 - 5 years 435 — 435 More than 5 years 4,305 7,733 12,038 Total 4,770 7,733 12,503 The table excludes any payments already capitalized in the condensed interim consolidated statements of financial position. The future payments that are disclosed represent contract payments and are not discounted and are not risk-adjusted. The development of any pharmaceutical product candidates is a complex and risky process that may fail at any stage in the development process due to a number of factors. The timing of the payments is based on the Company’s current best estimate of achievement of the relevant milestone. NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS AS AT JUNE 30, 2021 AND FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2021 AND 2020 (amounts in thousands of US dollars, except share/option/warrant and per share/option/warrant data and as otherwise noted) (Unaudited) Contingencies In the normal course of operations, the Company may become involved in various claims and legal proceedings related to, for example, contract terminations and employee-related and other matters. On March 9, 2020, the Company settled the previously disclosed class-action lawsuit against it pending in the U.S. District Court for the District of New Jersey. This settlement was approved by the U.S. District Court for the District of New Jersey on June 3, 2021. The settlement payment will be funded entirely by Aeterna Zentaris’s insurers. As no appeals were filed within the 30-day appeal period, this matter is fully and finally settled.

Trade and other receivables (Ta

Trade and other receivables (Tables)	6 Months Ended
	Jun. 30, 2021
Schedule of Trade and Other Receivables	Schedule of Trade and Other Receivables June 30, 2021 December 31, 2020 $ $ Trade accounts receivable (net of expected credit losses of $ 55 55 1,010 1,190 Value added tax and income tax receivable 462 468 Other 21 23 Trade and other receivables 1,493 1,681

Prepaid expenses and other cu_2

Prepaid expenses and other current assets (Tables)	6 Months Ended
	Jun. 30, 2021
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets June 30, 2021 December 31, 2020 $ $ Prepaid insurance 651 1,021 Prepaid income taxes 2,584 873 Other 73 19 Prepaid expenses and other current assets 3,308 1,913

Payables and accrued liabilit_2

Payables and accrued liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Schedule of Payables and Accrued Liabilities	Schedule of Payables and Accrued Liabilities June 30, 2021 December 31, 2020 $ $ Trade accounts payable 607 1,187 Salaries, employment taxes and benefits 157 474 Accrued audit fees 126 144 Accrued research and development costs 642 23 Other accrued liabilities 316 371 Payables and accrued liabilities 1,848 2,199

Provisions (Tables)

Provisions (Tables)	6 Months Ended
	Jun. 30, 2021
Schedule of Changes in Provisions for Onerous Contracts	The changes in the Company’s provisions for onerous contracts can be summarized as follows: Schedule of Changes in Provisions for Onerous Contracts Cetrotide (R) $ Balance – January 1, 2021 371 Utilization of provisions (25 ) Change in provisions 20 Impact of foreign exchange rate changes (16 ) Balance – June 30, 2021 350 Less current portion 85 Non-current portion 265

Employee future benefits (Table

Employee future benefits (Tables)	6 Months Ended
	Jun. 30, 2021
Disclosure of Net Defined Benefit Liability (Asset)	The Company sponsors pension plans in Germany (The Aeterna Zentaris GmbH Pension Plan). The change in the Company’s accrued benefit obligations is summarized as follows: Disclosure of Net Defined Benefit Liability (Asset) June 30, 2021 Year ended December 31, 2020 Pension benefit plans Other benefit plans Total Total $ $ $ $ Balances – Beginning of the period 15,341 94 15,435 13,788 Current service cost 31 2 33 54 Interest cost 45 — 45 163 Actuarial (gain) loss arising from changes in financial assumptions 86 — 86 651 Benefits paid (230 ) (2 ) (232 ) (532 ) Impact of foreign exchange rate changes (498 ) (2 ) (500 ) 1,311 Balances – End of the period 14,775 92 14,867 15,435 Amounts recognized: In net loss (76 ) — (76 ) (218 ) In other comprehensive loss (412 ) (2 ) (414 ) (1,961 )

Share capital, warrants and o_2

Share capital, warrants and other capital (Tables)	6 Months Ended
	Jun. 30, 2021
Schedule of Fair Value of Warrants Assumptions	The table presented below shows the inputs and assumptions applied to the Black-Scholes option pricing model in order to determine the fair value of these Placement agent warrants: Schedule of Fair Value of Warrants Assumptions Number of equivalent shares Market value per share price Weighted average exercise price Risk-free annual interest rate Expected volatility Expected life (years) Expected dividend yield ($) ($) (i) (ii) (iii) (iv) February 2021 Placement agent warrants – public offering 1,435,682 1.48 1.8125 0.58734 % 119.18 % 4.99 0.00 % February 2021 Placement agent warrants – Underwriter Option 215,352 1.48 1.8125 0.58544 % 119.57 % 4.98 0.00 % (i) Based on United States Treasury Government Bond interest rates with a term that is consistent with the expected life of the warrants. (ii) Based on the historical volatility of the Company’s stock price over the most recent period consistent with the expected life of the warrants. (iii) Based upon time to expiry from the issuance date. (iv) The Company has not paid dividends and it does not intend to pay dividends in the foreseeable future.
Summary of Warrants Exercise Transactions	During the six-month period ended June 30, 2021, holders exercised warrants as follows: Summary of Warrants Exercise Transactions Number Exercised Exercise Price Cash Receipts September 2019 Investor warrants 2,000,000 $ 1.65 $ 3,300,000 February 2020 Investor warrants 1,739,130 $ 1.20 $ 2,086,956 July 2020 Investor warrants 20,945,555 $ 0.45 $ 9,425,500 July 2020 Placement Agent warrants 1,866,667 $ 0.5625 $ 1,050,000 August 2020 Investor warrants 7,589,883 $ 0.47 $ 3,567,245 August 2020 Placement Agent warrants 869,952 $ 0.7040625 $ 612,501 35,011,187 $ 20,042,202
Schedule of Warrants Activity Reclassified into Equity	Schedule of Warrants Activity Reclassified into Equity Weighted average exercise price Number (US$) $ Balance – January 1, 2020 — — — Warrant liability reclassified to equity 16,368,033 0.8556 7,377 Warrants issued as equity, net (July 2020) 28,533,333 0.4574 5,025 - - - - - - - Balance – December 31, 2020 44,901,366 0.6025 12,402 Warrants granted 1,651,034 1.8125 1,897 Warrants exercised (35,011,187 ) 0.5725 (9,728 ) Allocation of transaction costs to share capital — — 532 Balance – June 30, 2021 11,541,213 0.8668 5,103
Disclosure of Change in Stock Options Issued	Disclosure of Change in Stock Options Issued Six-Months ended June 30, 2021 US$ Stock options Weighted average exercise price DSUs (Number) (US$) (Number) Balance – Beginning of period 506,400 1.44 173,000 Granted — — 280,000 Exercised — — (30,000 ) Balance – End of period 506,400 1.44 423,000

Operating expenses (Tables)

Operating expenses (Tables)	6 Months Ended
	Jun. 30, 2021
Schedule of Operating Expenses	The nature of the Company’s operating expenses from operations include the following: Schedule of Operating Expenses 2021 2020 Six months ended June 30, 2021 2020 $ $ Key management personnel: Salaries and short-term employee benefits 618 483 Consultant fees 86 76 Share-based compensation costs 265 127 Post-employment benefits including defined contribution plan benefits of $ 14 9 28 27 Key management personnel compensation 997 713 Other employees: Salaries and short-term employee benefits 508 491 Post-employment benefits including defined contribution plan benefits of $ 8 11 73 92 Share-based compensation costs 8 (104 ) Other employees compensation 589 479 Cost of inventory used and services provided 41 874 Professional fees 1,367 929 Consulting fees 259 274 Insurance 444 432 Third-party research and development 449 74 Travel 38 41 Marketing services 105 29 Laboratory supplies 69 — Other goods and services 75 50 Leasing costs 64 62 Gain on modification of building lease — (219 ) Depreciation and amortization 72 146 Operating foreign exchange losses (gains) 46 (9 ) Total operating expenses (note 11) 4,615 3,875

Supplemental disclosure of ca_2

Supplemental disclosure of cash flow information (Tables)	6 Months Ended
	Jun. 30, 2021
Disclosure of Changes in Operating Assets and Liabilities	Disclosure of Changes in Operating Assets and Liabilities 2021 2020 2021 2020 Three months ended Six months ended June 30, June 30, 2021 2020 2021 2020 $ $ $ $ Changes in operating assets and liabilities: Trade and other receivables (547 ) (149 ) 103 (156 ) Inventory 1 (8 ) (39 ) 828 Prepaid expenses and other current assets 408 (279 ) 315 99 Payables and accrued liabilities (430 ) 41 (315 ) (451 ) Taxes payable — — (129 ) — Deferred revenues 3 11 1,230 (395 ) Employee future benefits (74 ) (110 ) (157 ) (215 ) Changes in operating assets and liabilities (639 ) (494 ) (1,008 ) (290 )

Net loss per share (Tables)

Net loss per share (Tables)	6 Months Ended
	Jun. 30, 2021
Summary of Pertinent Data Relating to Computation of Basic and Diluted Net (Loss) Income Per Share	The following table sets forth pertinent data relating to the computation of basic and diluted net loss per share attributable to common shareholders. Summary of Pertinent Data Relating to Computation of Basic and Diluted Net (Loss) Income Per Share 2021 2020 2021 2020 Three months ended Six months ended June 30, June 30, 2021 2020 2021 2020 $ $ $ $ Net loss (2,039 ) (3,450 ) (3,484 ) (2,671 ) Basic weighted average number of shares outstanding 121,203,227 23,515,579 108,395,537 22,519,497 Net loss income per share (basic) (0.02 ) (0.15 ) (0.03 ) (0.12 ) Dilutive effect of stock options and DSUs — — — — Dilutive effect of warrants — — — — Diluted weighted average number of shares outstanding 121,203,227 23,515,579 108,395,537 22,519,497 Net loss per share (diluted) (0.02 ) (0.15 ) (0.03 ) (0.12 ) Items excluded from the calculation of diluted net loss per share because the exercise price was greater than the average market price of the common shares or due to their anti-dilutive effect Stock options and DSUs 929,400 499,410 929,400 499,410 Warrants 11,541,213 8,508,174 11,541,213 8,508,174

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2021
Schedule of Expected Future Minimum Lease Payments	Schedule of Expected Future Minimum Lease Payments Service and manufacturing R&D contracts TOTAL $ $ $ Less than 1 year 660 1,109 1,769 1 - 3 years 584 724 1,308 4 - 5 years — — — More than 5 years — — — Total 1,244 1,833 3,077
Schedule of R&D and Revenue Related Milestone Payments	Schedule of R&D and Revenue Related Milestone Payments Future potential R&D milestone payments Future potential revenue milestone payments TOTAL $ $ $ Less than 1 year 30 — 30 1 - 3 years — — — 4 - 5 years 435 — 435 More than 5 years 4,305 7,733 12,038 Total 4,770 7,733 12,503

Business overview (Details Narr

Business overview (Details Narrative) - Novo Nordisk A/S [Member] € in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2021EUR (€)
IfrsStatementLineItems [Line Items]
[custom:PercentageOfClinicalTrialCostsReimbursement]	100.00%	100.00%
[custom:ClinicalTrialCosts] | $	$ 10,700
[custom:AdditionalClinicalTrialCosts] | $	$ 10,700
Euro [Member]
IfrsStatementLineItems [Line Items]
[custom:AdditionalClinicalTrialCosts] | €		€ 9,000
Top of range [member] | Euro [Member]
IfrsStatementLineItems [Line Items]
[custom:ClinicalTrialCosts] | €		€ 9,000

License, supply and distribut_2

License, supply and distribution arrangements (Details Narrative) $ in Thousands, € in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Jan. 31, 2021USD ($)	Jan. 31, 2021EUR (€)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)
IfrsStatementLineItems [Line Items]
Royalty income			$ 19	$ 10	$ 27	$ 24
[custom:SupplyChainRevenue]			$ 43	$ 40	84	81
[custom:SupplyChainRevenues]					85
License Agreement [Member]
IfrsStatementLineItems [Line Items]
Royalty income					19	24
Cash payment	$ 1,207	€ 1
License Agreement [Member] | Novo Nordisk A/S [Member]
IfrsStatementLineItems [Line Items]
[custom:LicenseeCosts]					3,324	310
[custom:SupplyChainRevenue]					$ 83	$ 83

Schedule of Trade and Other Rec

Schedule of Trade and Other Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Trade accounts receivable (net of expected credit losses of $55 (December 31, 2020 - $55))	$ 1,010	$ 1,190
Value added tax and income tax receivable	462	468
Other	21	23
Trade and other receivables	$ 1,493	$ 1,681

Schedule of Trade and Other R_2

Schedule of Trade and Other Receivables (Details) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Trade accounts receivable, expected credit losses	$ 55	$ 55

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Prepaid insurance	$ 651	$ 1,021
Prepaid income taxes	2,584	873
Other	73	19
Prepaid expenses and other current assets	$ 3,308	$ 1,913

Schedule of Payables and Accrue

Schedule of Payables and Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Trade accounts payable	$ 607	$ 1,187
Salaries, employment taxes and benefits	157	474
Accrued audit fees	126	144
Accrued research and development costs	642	23
Other accrued liabilities	316	371
Payables and accrued liabilities	$ 1,848	$ 2,199

Schedule of Changes in Provisio

Schedule of Changes in Provisions for Onerous Contracts (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
Less current portion	$ 85	$ 92
Cetrotide(R) Onerous Contracts [Member]
IfrsStatementLineItems [Line Items]
Beginning balance	371
Utilization of provisions	(25)
Change in the provisions	20
Impact of foreign exchange rate changes	(16)
Ending balance	350
Less current portion	85
Non-current portion	$ 265

Disclosure of Net Defined Benef

Disclosure of Net Defined Benefit Liability (Asset) (Details) - Unfunded Plan1 [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
Balances - Beginning of the period	$ 15,435	$ 13,788
Current service cost	33	54
Interest cost	45	163
Actuarial (gain) loss arising from changes in financial assumptions	86	651
Benefits paid	(232)	(532)
Impact of foreign exchange rate changes	(500)	1,311
Balances - End of the period	14,867	15,435
Amounts recognized: In net loss	(76)	(218)
Amounts recognized: In other comprehensive loss	(414)	(1,961)
Pension defined benefit plans [member]
IfrsStatementLineItems [Line Items]
Balances - Beginning of the period	15,341
Current service cost	31
Interest cost	45
Actuarial (gain) loss arising from changes in financial assumptions	86
Benefits paid	(230)
Impact of foreign exchange rate changes	(498)
Balances - End of the period	14,775	15,341
Amounts recognized: In net loss	(76)
Amounts recognized: In other comprehensive loss	(412)
Other Benefit Plans [Member]
IfrsStatementLineItems [Line Items]
Balances - Beginning of the period	94
Current service cost	2
Interest cost
Actuarial (gain) loss arising from changes in financial assumptions
Benefits paid	(2)
Impact of foreign exchange rate changes	(2)
Balances - End of the period	92	$ 94
Amounts recognized: In net loss
Amounts recognized: In other comprehensive loss	$ (2)

Employee future benefits (Detai

Employee future benefits (Details Narrative)	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Pension defined benefit plans [member]
IfrsStatementLineItems [Line Items]
Discount rate	1.00%	1.00%	0.60%

Share capital, warrants and o_3

Share capital, warrants and other capital (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Feb. 22, 2021	Feb. 19, 2021	Feb. 21, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
IfrsStatementLineItems [Line Items]
Number of common shares issued, shares				21,000		21,000
Transaction costs					$ 11	$ 3,221	$ 611
Investor Warrants [Member]
IfrsStatementLineItems [Line Items]
Transaction costs				666
Share capital				$ 532
Registered Direct Offering [Member]
IfrsStatementLineItems [Line Items]
Number of common shares issued, shares			3,478,261
Share price			$ 1.29
Proceeds from issuing common shares			$ 4,500
Warrants [Member]
IfrsStatementLineItems [Line Items]
Number of common shares issued, shares			243,478
Proceeds from issuing common shares			$ 2,325
Warrants exercise price			$ 1.62
Transaction costs			$ 600
Warrants [Member] | Registered Direct Offering [Member]
IfrsStatementLineItems [Line Items]
Number of common shares issued, shares			2,608,696
Proceeds from issuing common shares			$ 3,900
Warrants exercise price			$ 1.20
Warrant liability			$ 310
Placement Agent Warrants [Member]
IfrsStatementLineItems [Line Items]
Number of common shares issued, shares	215,352
Proceeds from issuing common shares	$ 4,461
Placement agent fees and other offering expenses	$ 384
Option to purchase common stock	3,076,461
Warrants exercise price	$ 1.8125
Warrants expiry date	Feb. 17, 2026
Warrant liability	$ 1,897
Share Capital [Member]
IfrsStatementLineItems [Line Items]
Proceeds from issuing common shares			2,175
Transaction costs			$ 600
Public Offering [Member]
IfrsStatementLineItems [Line Items]
Number of common shares issued, shares		20,509,746
Share price		$ 1.45
Proceeds from issuing common shares		$ 29,739
Placement agent fees and other offering expenses		$ 2,837
Placement agent warrants		1,435,682
Public Offering [Member] | Warrants [Member]
IfrsStatementLineItems [Line Items]
Proceeds from issuing common shares		$ 26,902
Warrants exercise price		$ 1.8125
Public Offering [Member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Option to purchase common stock		3,076,461
Underwriter Offering [Member]
IfrsStatementLineItems [Line Items]
Proceeds from issuing common shares	4,077
Underwriter Offering [Member] | Share Capital [Member]
IfrsStatementLineItems [Line Items]
Proceeds from issuing common shares	34,200
Transaction costs	$ 3,221

Schedule of Fair Value of Warra

Schedule of Fair Value of Warrants Assumptions (Details)	6 Months Ended
	Jun. 30, 2021$ / sharesshares
February 2021 Placement agent Warrants - Public Offering [Member]
IfrsStatementLineItems [Line Items]
Number of equivalent shares | shares	1,435,682
Weighted average share price, share options granted	$ 1.48
Exercise price, share options granted	$ 1.8125
Risk-free annual interest rate	0.58734%	[1]
Expected volatility	119.18%	[2]
Expected dividend yield	0.00%	[3]
Expected life (years)	4 years 11 months 26 days	[4]
February 2021 Placement agent Warrants - Underwriter Option [Member]
IfrsStatementLineItems [Line Items]
Number of equivalent shares | shares	215,352
Weighted average share price, share options granted	$ 1.48
Exercise price, share options granted	$ 1.8125
Risk-free annual interest rate	0.58544%	[1]
Expected volatility	119.57%	[2]
Expected dividend yield	0.00%	[3]
Expected life (years)	4 years 11 months 23 days	[4]
[1]	Based on United States Treasury Government Bond interest rates with a term that is consistent with the expected life of the warrants.
[2]	Based on the historical volatility of the Company’s stock price over the most recent period consistent with the expected life of the warrants.
[3]	The Company has not paid dividends and it does not intend to pay dividends in the foreseeable future.
[4]	Based upon time to expiry from the issuance date.

Summary of Warrants Exercise Tr

Summary of Warrants Exercise Transactions (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)shares$ / shares
September 2019 Investor Warrants [Member]
IfrsStatementLineItems [Line Items]
Number of share options exercised in share-based payment arrangement | shares	2,000,000
Proceeds from exercise of options | $	$ 3,300,000
Exercise Price | $ / shares	$ 1.65
February 2020 Investor Warrants [Member]
IfrsStatementLineItems [Line Items]
Number of share options exercised in share-based payment arrangement | shares	1,739,130
Proceeds from exercise of options | $	$ 2,086,956
Exercise Price | $ / shares	$ 1.20
July 2020 Investor Warrants [Member]
IfrsStatementLineItems [Line Items]
Number of share options exercised in share-based payment arrangement | shares	20,945,555
Proceeds from exercise of options | $	$ 9,425,500
Exercise Price | $ / shares	$ 0.45
July 2020 Placement Agent Warrants [Member]
IfrsStatementLineItems [Line Items]
Number of share options exercised in share-based payment arrangement | shares	1,866,667
Proceeds from exercise of options | $	$ 1,050,000
Exercise Price | $ / shares	$ 0.5625
August 2020 Investor Warrants [Member]
IfrsStatementLineItems [Line Items]
Number of share options exercised in share-based payment arrangement | shares	7,589,883
Proceeds from exercise of options | $	$ 3,567,245
Exercise Price | $ / shares	$ 0.47
August 2020 Placement Agent Warrants [Member]
IfrsStatementLineItems [Line Items]
Number of share options exercised in share-based payment arrangement | shares	869,952
Proceeds from exercise of options | $	$ 612,501
Exercise Price | $ / shares	$ 0.7040625

Schedule of Warrants Activity R

Schedule of Warrants Activity Reclassified into Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Warrants Outstanding, Beginning of year	44,901,366
Weighted Average Exercise Price, Beginning of year	$ 0.6025
Warrants Outstanding, Beginning of year, value	$ 12,402
Warrant liability reclassified to equity		16,368,033
Weighted Average Exercise Price, Warrant liability reclassified to equity		$ 0.8556
Warrant liability reclassified to equity, value		$ 7,377
Warrants issued as equity (July 2020)		28,533,333
Weighted Average Exercise Price, Warrants issued as equity (July 2020)		$ 0.4574
Warrants issued as equity (July 2020), value		$ 5,025
Warrants granted	1,651,034
Weighted Average Exercise Price, Warrants granted	$ 1.8125
Warrants granted, value	$ 1,897
Warrants exercised	(35,011,187)
Weighted Average Exercise Price, Warrants exercised	$ 0.5725
Warrants exercised, value	$ (9,728)
Allocation of transaction costs to share capital, value	$ 532
Warrants Outstanding, End of year	11,541,213	44,901,366
Weighted Average Exercise Price, End of year	$ 0.8668	$ 0.6025
Warrants Outstanding, End of year, value	$ 5,103	$ 12,402

Disclosure of Change in Stock O

Disclosure of Change in Stock Options Issued (Details)	6 Months Ended
	Jun. 30, 2021shares$ / shares
Employee Stock Option, USD [Member]
IfrsStatementLineItems [Line Items]
Balance - Beginning of year, Number (in shares)	506,400
Balance - Beginning of year, Weighted average exercise price (in US and CAN dollars per share) | $ / shares	$ 1.44
Granted, Number (in shares)
Granted, Weighted average exercise price (in US and CAN dollars per share) | $ / shares
Exercised, Number (in shares)
Exercised, Weighted average exercise price (in US and CAN dollars per share) | $ / shares
Balance - End of year, Number (in shares)	506,400
Balance - End of year, Weighted average exercise price (in US and CAN dollars per share) | $ / shares	$ 1.44
Deferred Stock Units DSU's [Member]
IfrsStatementLineItems [Line Items]
Balance - Beginning of year, Number (in shares)	173,000
Granted, Number (in shares)	280,000
Exercised, Number (in shares)	(30,000)
Balance - End of year, Number (in shares)	423,000

Schedule of Operating Expenses

Schedule of Operating Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Salaries and short-term employee benefits			$ 618	$ 483
Consultant fees			86	76
Share-based compensation costs			265	127
Post-employment benefits including defined contribution plan benefits of $14 in 2021 and $9 in 2020			28	27
Key management personnel compensation			997	713
Salaries and short-term employee benefits			508	491
Post-employment benefits including defined contribution plan benefits of $8 in 2021 and $11 in 2020			73	92
Share-based compensation costs			8	(104)
Other employees compensation			589	479
Cost of inventory used and services provided	$ 12	$ 12	41	874
Professional fees			1,367	929
Consulting fees			259	274
Insurance			444	432
Third-party research and development			449	74
Travel			38	41
Marketing services			105	29
Laboratory supplies			69
Other goods and services			75	50
Leasing costs			64	62
Gain on modification of building lease		(34)		(219)
Depreciation and amortization			72	146
Operating foreign exchange losses (gains)			46	(9)
Total operating expenses (note 11)	$ 2,713	$ 1,507	$ 4,615	$ 3,875

Schedule of Operating Expense_2

Schedule of Operating Expenses (Details) (Parenthetical) - Unfunded Plan1 [Member] - Other Benefit Plans [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Key management personnel of entity or parent [member]
IfrsStatementLineItems [Line Items]
Post-employment benefits, including defined contribution plan benefits	$ 14	$ 9
Other Employees Compensation [Member]
IfrsStatementLineItems [Line Items]
Post-employment benefits, including defined contribution plan benefits	$ 8	$ 11

Disclosure of Changes in Operat

Disclosure of Changes in Operating Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Trade and other receivables	$ (547)	$ (149)	$ 103	$ (156)
Inventory	1	(8)	(39)	828
Prepaid expenses and other current assets	408	(279)	315	99
Payables and accrued liabilities	(430)	41	(315)	(451)
Taxes payable			(129)
Deferred revenues	3	11	1,230	(395)
Employee future benefits	(74)	(110)	(157)	(215)
Changes in operating assets and liabilities	$ (639)	$ (494)	$ (1,008)	$ (290)

Summary of Pertinent Data Relat

Summary of Pertinent Data Relating to Computation of Basic and Diluted Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net loss	$ (2,039)	$ (3,450)	$ (3,484)	$ (2,671)
Basic weighted average number of shares outstanding	121,203,227	23,515,579	108,395,537	22,519,497
Net loss income per share (basic)	$ (0.02)	$ (0.15)	$ (0.03)	$ (0.12)
Dilutive effect of stock options and DSUs
Dilutive effect of warrants
Diluted weighted average number of shares outstanding	121,203,227	23,515,579	108,395,537	22,519,497
Net loss per share (diluted)	$ (0.02)	$ (0.15)	$ (0.03)	$ (0.12)
Stock options and DSUs	929,400	499,410	929,400	499,410
Warrants	11,541,213	8,508,174	11,541,213	8,508,174

Schedule of Expected Future Min

Schedule of Expected Future Minimum Lease Payments (Details) $ in Thousands	Jun. 30, 2021USD ($)
IfrsStatementLineItems [Line Items]
Total	$ 3,077
Less Than 1 Year [Member]
IfrsStatementLineItems [Line Items]
Total	1,769
1 - 3 Years [Member]
IfrsStatementLineItems [Line Items]
Total	1,308
4 - 5 Years [Member]
IfrsStatementLineItems [Line Items]
Total
More than 5 Years [Member]
IfrsStatementLineItems [Line Items]
Total
Services and Manufacturing [Member]
IfrsStatementLineItems [Line Items]
Total	1,244
Services and Manufacturing [Member] | Less Than 1 Year [Member]
IfrsStatementLineItems [Line Items]
Total	660
Services and Manufacturing [Member] | 1 - 3 Years [Member]
IfrsStatementLineItems [Line Items]
Total	584
Services and Manufacturing [Member] | 4 - 5 Years [Member]
IfrsStatementLineItems [Line Items]
Total
Services and Manufacturing [Member] | More than 5 Years [Member]
IfrsStatementLineItems [Line Items]
Total
R&D Contract [Member]
IfrsStatementLineItems [Line Items]
Total	1,833
R&D Contract [Member] | Less Than 1 Year [Member]
IfrsStatementLineItems [Line Items]
Total	1,109
R&D Contract [Member] | 1 - 3 Years [Member]
IfrsStatementLineItems [Line Items]
Total	724
R&D Contract [Member] | 4 - 5 Years [Member]
IfrsStatementLineItems [Line Items]
Total
R&D Contract [Member] | More than 5 Years [Member]
IfrsStatementLineItems [Line Items]
Total

Segment information (Details Na

Segment information (Details Narrative)	3 Months Ended
	Mar. 31, 2021Segment
Number of operating segments	1

Schedule of R&D and Revenue Rel

Schedule of R&D and Revenue Related Milestone Payments (Details) $ in Thousands	Jun. 30, 2021USD ($)
IfrsStatementLineItems [Line Items]
Total	$ 12,503
Less Than 1 Year [Member]
IfrsStatementLineItems [Line Items]
Total	30
1 - 3 Years [Member]
IfrsStatementLineItems [Line Items]
Total
4 - 5 Years [Member]
IfrsStatementLineItems [Line Items]
Total	435
More than 5 Years [Member]
IfrsStatementLineItems [Line Items]
Total	12,038
R&D Milestone Payments [Member]
IfrsStatementLineItems [Line Items]
Total	4,770
R&D Milestone Payments [Member] | Less Than 1 Year [Member]
IfrsStatementLineItems [Line Items]
Total	30
R&D Milestone Payments [Member] | 1 - 3 Years [Member]
IfrsStatementLineItems [Line Items]
Total
R&D Milestone Payments [Member] | 4 - 5 Years [Member]
IfrsStatementLineItems [Line Items]
Total	435
R&D Milestone Payments [Member] | More than 5 Years [Member]
IfrsStatementLineItems [Line Items]
Total	4,305
Revenue Related Mile Stone Payments [Member]
IfrsStatementLineItems [Line Items]
Total	7,733
Revenue Related Mile Stone Payments [Member] | Less Than 1 Year [Member]
IfrsStatementLineItems [Line Items]
Total
Revenue Related Mile Stone Payments [Member] | 1 - 3 Years [Member]
IfrsStatementLineItems [Line Items]
Total
Revenue Related Mile Stone Payments [Member] | 4 - 5 Years [Member]
IfrsStatementLineItems [Line Items]
Total
Revenue Related Mile Stone Payments [Member] | More than 5 Years [Member]
IfrsStatementLineItems [Line Items]
Total	$ 7,733

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative) € in Thousands, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2021EUR (€)	Jun. 30, 2021GBP (£)
IfrsStatementLineItems [Line Items]
Intangible assets recognized, acquired | $	$ 490
R&D Contracts [Member]
IfrsStatementLineItems [Line Items]
[custom:PotentialMilestonePaymentsDescription]		Based on the closing exchange rates, the Company expects to pay $	Based on the closing exchange rates, the Company expects to pay $	Based on the closing exchange rates, the Company expects to pay $
[custom:PotentialMilestonePayments]		$ 1,833		£ 206
R&D Contracts [Member] | Euro [Member]
IfrsStatementLineItems [Line Items]
[custom:PotentialMilestonePayments] | €			€ 1,518
R&D Milestone Payments [Member]
IfrsStatementLineItems [Line Items]
[custom:PotentialMilestonePayments] | $		4,770
R&D Milestone Payments [Member] | Euro [Member]
IfrsStatementLineItems [Line Items]
[custom:PotentialMilestonePayments] | €			2,675
R&D Milestone Payments [Member] | GBP [Member]
IfrsStatementLineItems [Line Items]
[custom:PotentialMilestonePayments] | £				1,150,000
Revenue Related Mile Stone Payments [Member]
IfrsStatementLineItems [Line Items]
[custom:PotentialMilestonePayments] | $		$ 7,733
Revenue Related Mile Stone Payments [Member] | Euro [Member]
IfrsStatementLineItems [Line Items]
[custom:PotentialMilestonePayments] | €			€ 5,050
Revenue Related Mile Stone Payments [Member] | GBP [Member]
IfrsStatementLineItems [Line Items]
[custom:PotentialMilestonePayments] | £				£ 1,250,000