ProMIS Neurosciences (PMN) 10-Q 12 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 04, 2022
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2022
Entity File Number	001-41429
Entity Registrant Name	PROMIS NEUROSCIENCES INC.
Entity Incorporation, State or Country Code	Z4
Entity Tax Identification Number	98-0647155
Entity Address, Address Line One	Suite 200, 1920 Yonge Street
Entity Address, City or Town	Toronto
Entity Address State Or Province	ON
Entity Address, Postal Zip Code	M4S 3E2
City Area Code	416
Local Phone Number	847-6898
Title of 12(b) Security	Common Shares, no par value per share
Trading Symbol	PMN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		7,195,529
Entity Central Index Key	0001374339
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash	$ 8,903,776	$ 16,943,905
Short-term investments	32,687	33,248
Prepaid expenses and other current assets	1,225,201	737,316
Total current assets	10,161,664	17,714,469
Property and equipment, net	2,776	4,671
Intangible assets, net	24,557	27,614
Total assets	10,188,997	17,746,754
Current liabilities:
Accounts payable	888,015	408,981
Accrued liabilities	986,033	520,093
Total current liabilities	1,874,048	929,074
Convertible debt, net of issuance costs and debt discount		3,906,057
Derivative liability		5,379,878
Warrant liability	1,605,020	1,871,687
Total liabilities	3,479,068	12,086,696
Commitments and contingencies (Note 13)
Shareholders' equity:
Series 1 Convertible Preferred Shares, no par value, 70,000,000 shares authorized, 70,000,000 and 0 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively
Additional paid-in capital	73,879,455	68,039,178
Accumulated other comprehensive loss	(138,442)	(187,919)
Accumulated deficit	(67,031,084)	(62,191,201)
Total shareholders' equity	6,709,929	5,660,058
Total liabilities and shareholders' equity	$ 10,188,997	$ 17,746,754

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Condensed Consolidated Balance Sheets
Series S1 Convertible Preferred stock, Par value	$ 0	$ 0
Series S1 Convertible Preferred stock, Shares authorized	70,000,000	70,000,000
Series S1 Convertible Preferred stock, Shares issued	70,000,000	0
Series S1 Convertible Preferred stock, Shares outstanding	70,000,000	0
Common shares, par value	$ 0	$ 0
Common shares, shares issued	7,195,529	7,195,529
Common shares, shares outstanding	7,195,529	7,195,529

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating expenses:
Research and development	$ 3,229,584	$ 754,302	$ 5,132,416	$ 973,893
General and administrative	1,635,065	351,114	3,670,751	699,492
Total operating expenses	4,864,649	1,105,416	8,803,167	1,673,385
Loss from operations	(4,864,649)	(1,105,416)	(8,803,167)	(1,673,385)
Other income (expense):
Interest expense, net	134,291	133,686	282,064	135,405
Change in fair value of financial instruments	930,193	1,013,880	2,910,865	(4,523,685)
Gain on extinguishment of convertible debt and derivative liability	1,307,421		1,307,421
Other income/(expense)	16,288	(321)	27,062	(2,379)
Total other income (expense), net	2,119,611	879,873	3,963,284	(4,661,469)
Net loss	(2,745,038)	(225,543)	(4,839,883)	(6,334,854)
Other comprehensive gain/(loss):
Gain/(loss) on foreign currency translation	1,636	(91,842)	49,477	(145,217)
Comprehensive loss	$ (2,743,402)	$ (317,385)	$ (4,790,406)	$ (6,480,071)
Net loss per Common Share, basic	$ (0.38)	$ (0.06)	$ (0.67)	$ (1.30)
Net loss per Common Share, diluted	$ (0.38)	$ (0.06)	$ (0.67)	$ (1.30)
Weighted-average Common Shares, basic	7,195,529	5,099,172	7,195,529	5,000,935
Weighted-average Common Shares, diluted	7,195,529	5,099,172	7,195,529	5,000,935

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Shareholders' Equity (Deficit) - USD ($)	Common Shares	Series1 Convertible Preferred Shares	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Total
Balance at the beginning at Dec. 31, 2020			$ 51,655,168	$ (50,731)	$ (52,401,095)	$ (796,658)
Balance at the beginning (in shares) at Dec. 31, 2020	4,828,846
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of special warrants (in shares)	270,326
Share-based compensation			207,851			207,851
Foreign currency translation				(145,217)		(145,217)
Net loss					(6,334,854)	(6,334,854)
Balance at the end at Jun. 30, 2021			51,863,019	(195,948)	(58,735,949)	(7,068,878)
Balance at the end (in shares) at Jun. 30, 2021	5,099,172
Balance at the beginning at Mar. 31, 2021			51,733,845	(104,106)	(58,510,406)	(6,880,667)
Balance at the beginning (in shares) at Mar. 31, 2021	5,099,172
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation			129,174			129,174
Foreign currency translation				(91,842)		(91,842)
Net loss					(225,543)	(225,543)
Balance at the end at Jun. 30, 2021			51,863,019	(195,948)	(58,735,949)	(7,068,878)
Balance at the end (in shares) at Jun. 30, 2021	5,099,172
Balance at the beginning at Dec. 31, 2021			68,039,178	(187,919)	(62,191,201)	$ 5,660,058
Balance at the beginning (in shares) at Dec. 31, 2021	7,195,529					7,195,529
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation			240,277			$ 240,277
Conversion of convertible debt and derivative liability to Series 1 Convertible Preferred Shares			5,600,000			5,600,000
Conversion of convertible debt and derivative liability to Series 1 Convertible Preferred Shares (in shares)		70,000,000
Foreign currency translation				49,477		49,477
Net loss					(4,839,883)	(4,839,883)
Balance at the end at Jun. 30, 2022			73,879,455	(138,442)	(67,031,084)	$ 6,709,929
Balance at the end (in shares) at Jun. 30, 2022	7,195,529	70,000,000				7,195,529
Balance at the beginning at Mar. 31, 2022			68,164,043	(140,078)	(64,286,046)	$ 3,737,919
Balance at the beginning (in shares) at Mar. 31, 2022	7,195,529
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of special warrants			5,600,000			5,600,000
Conversion of special warrants (in shares)		70,000,000
Share-based compensation			115,412			115,412
Foreign currency translation				1,636		1,636
Net loss					(2,745,038)	(2,745,038)
Balance at the end at Jun. 30, 2022			$ 73,879,455	$ (138,442)	$ (67,031,084)	$ 6,709,929
Balance at the end (in shares) at Jun. 30, 2022	7,195,529	70,000,000				7,195,529

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net loss	$ (4,839,883)	$ (6,334,854)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation	240,277	207,851
Foreign currency exchange loss	251,033	(96,672)
Change in fair value of derivative liability	(2,643,123)	4,523,685
Change in fair value of warrant liability	(267,742)
Depreciation of property and equipment	3,887	21,477
Amortization of debt discount and issuance costs	250,060	97,404
Amortization of intangible assets	2,622	2,637
Gain on extinguishment of convertible debt and derivative liability	(1,307,421)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(506,194)	(463,128)
Accounts payable	491,640	(212,309)
Accrued liabilities	480,287	163,704
Deferred compensation		(138,232)
Net cash used in operating activities	(7,844,557)	(2,228,437)
Cash flows from investing activities
Purchase of property and equipment	(2,048)
Other investing activities		2,372
Net cash (used in) provided by investing activities	(2,048)	2,372
Cash flows from financing activities
Proceeds from convertible debt		6,882,531
Net cash provided by financing activities		6,882,531
Effect of exchange rates on cash	(193,524)	110,758
Net (decrease)/increase in cash	(8,040,129)	4,767,224
Cash at beginning of period	16,943,905	806,887
Cash at end of period	8,903,776	$ 5,574,111
Supplemental disclosure of cash flow information
Conversion of convertible debt and derivative liability to Series 1 Convertible Preferred Shares	5,600,000
Cash paid for interest on convertible debt	$ 87,069

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	6 Months Ended
	Jun. 30, 2022
DESCRIPTION OF BUSINESS
DESCRIPTION OF BUSINESS	1. DESCRIPTION OF BUSINESS Business Description ProMIS Neurosciences Inc. (the “ Company ProMIS AD MSA ALS PD DLB FTLD PSP CBD The Company was incorporated on January 23, 2004 under the Canada Business Corporations Act and is located at 1920 Yonge Street, Toronto, Ontario. The Company’s Common Shares are traded on the Toronto Stock Exchange (“ TSX Nasdaq The success of the Company is dependent on obtaining the necessary regulatory approvals of its product candidates, marketing its products, if approved, and achieving profitable operations. The continuation of the research and development activities and the commercialization of its products, if approved, are dependent on the Company’s ability to successfully complete these activities and to obtain additional financing through a combination of financing activities and operations. It is not possible to predict either the outcome of future research and development or commercialization programs, or the Company’s ability to fund these programs. COVID-19 Impacts resulting from the COVID-19 pandemic have resulted in a widespread health crisis that has already adversely affected the economies and financial markets of many countries around the world. The international response to the spread of COVID-19 has led to significant restrictions on travel; temporary business closures; quarantines; global stock market and financial market volatility; a general reduction in consumer activity; operating, supply chain and project development delays and disruptions; and declining trade and market sentiment; all of which have and could further affect the world economy. The extent to which the novel coronavirus may impact the Company’s business, preclinical research and development activities will depend on future developments which are highly uncertain and cannot be predicted with confidence, such as the duration of the outbreak, travel restrictions and social distancing in Canada, the United States and other countries, business closures or business disruptions and the effectiveness of actions taken by governments around the globe to contain and treat the disease. International scientific conferences at which the Company has been invited to present have been postponed, cancelled or will be held online instead, which diminishes exposure and the opportunity to meet with collaborators and potential partners. These scientific conferences have started to be held in person with an option to attend online. Vendors performing work for the Company have remained open, although they have indicated that their timelines are now somewhat longer. The current global uncertainty and its effect on the local and global economies may also have an adverse effect on the Company’s ability to secure additional financing to continue its research and development programs. Liquidity Risk The accompanying unaudited condensed consolidated financial statements were prepared on a going concern basis, which assumes that the Company will continue its operations for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of business. To date, the Company has not generated revenues from its activities. The Company had a net loss of $2.7 million and $4.8 million for the three and six months ended June 30, 2022, respectively, for the three months ended June 30, 2022 and an accumulated deficit of $67.0 million as of June 30, 2022. Available funds are expected to be sufficient to fund the Company’s operating expenses for at least 12 months from the date these unaudited condensed consolidated financial statements are issued. However, additional funding will be necessary to fund future research, pre-clinical and clinical activities. The Company will seek additional funding through public financings, debt financings, collaboration agreements, strategic alliances and licensing agreements. Although the Company has been successful in raising capital in the past, there is no assurance of success in obtaining such additional financing on terms acceptable to us, if at all, and there is no assurance that the Company will be able to enter into collaborations or other arrangements. If the Company is unable to obtain funding, it could force delays, reduce or eliminate research and development programs, product portfolio expansion or commercialization efforts, which could adversely affect future business prospects, and the ability to continue operations. The Company may continue to incur net losses for at least the next several years as the Company advances its product candidates. The Company is actively pursuing additional financing to further develop certain of the Company’s scientific initiatives, but there is no assurance these initiatives will be successful, timely or sufficient.

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2022
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the year ended December 31, 2021, which are included with the Company’s Form 10 Registration Statement and related amendments filed with the United States Securities Exchange Commission (“ SEC ) The accompanying unaudited interim condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“ GAAP ASC ASU FASB In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements for the periods presented reflect all adjustments, consisting of only normal recurring adjustments, necessary to fairly present the Company's financial position, results of operations, and cash flows. The December 31, 2021 condensed consolidated balance sheet was derived from audited financial statements, but does not include all GAAP disclosures. The unaudited condensed consolidated financial statements for the interim periods are not necessarily indicative of results for the full year. On June 21, 2022, the directors of the Company authorized a reverse share split of the issued and outstanding Common Shares in a ratio of 60:1, effective June 28, 2022 (the “ Reverse Share Split Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates, judgements and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions made in the accompanying unaudited condensed consolidated financial statements include, but are not limited to, the accrual for research and development expenses, the valuation of share-based compensation, and the valuation of warrant liabilities and embedded derivative liabilities. Actual results could differ from those estimates, and such differences could be material to the unaudited condensed consolidated financial statements. Segment Information Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker (“ CODM Foreign Currency Comprehensive loss is defined as a change in equity of a business enterprise during a period, resulting from transactions from non-owner sources. The reporting currency of the Company is the United States dollar (“ US$ C$ Emerging Growth Company Status The Company is an Emerging Growth Company, as defined in Section 2(a) of the Securities Act of 1933, as modified by the Jumpstart Our Business Startups Act of 2012 (“ JOBS Act Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases Topic 842 Leases Topic 842 Targeted Improvements In December 2019, the FASB issued ASU No 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Topic 740 In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options ( Subtopic 470-20 ) and Derivatives and Hedging Contracts in Entity s Own Equity ( Subtopic 815-40 ): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2022
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	3. FAIR VALUE MEASUREMENTS The following are the major categories of assets measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2022 ​ Level 1 Level 2 Level 3 Total Assets: ​ ​ ​ ​ Short-term investments ​ $ 32,687 ​ $ — ​ $ — ​ $ 32,687 Total assets measured at fair value ​ $ 32,687 ​ $ — ​ $ — ​ $ 32,687 Liabilities: ​ ​ ​ ​ ​ ​ ​ Derivative liability ​ $ — ​ $ — ​ $ — ​ $ — Warrant liability ​ — ​ — ​ 1,605,020 ​ 1,605,020 Total liabilities measured at fair value ​ $ — ​ $ — ​ $ 1,605,020 ​ $ 1,605,020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ Level 1 Level 2 Level 3 Total Assets: ​ ​ ​ ​ Short-term investments ​ $ 33,248 ​ $ — ​ $ — ​ $ 33,248 Total assets measured at fair value ​ $ 33,248 ​ $ — ​ $ — ​ $ 33,248 Liabilities: ​ ​ ​ ​ Derivative liability ​ $ — ​ $ — ​ $ 5,379,878 ​ $ 5,379,878 Warrant liability ​ — ​ — ​ 1,871,687 ​ 1,871,687 Total liabilities measured at fair value ​ $ — ​ $ — ​ $ 7,251,565 ​ $ 7,251,565 ​ No transfers between levels have occurred in either reporting period presented. Refer to Note 8 below for further discussion on the extinguishment of the derivative liability and Note 9 below for disclosures related to the warrant liability.

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	6 Months Ended
	Jun. 30, 2022
PREPAID EXPENSES AND OTHER CURRENT ASSETS
PREPAID EXPENSES AND OTHER CURRENT ASSETS	4. PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ 2022 2021 Upfront research payments ​ $ 845,387 ​ $ 554,878 Goods and services tax receivable ​ 56,421 ​ 48,690 Insurance ​ 14,725 ​ 32,853 Dues and subscriptions ​ 25,791 ​ — Consultants ​ 56,910 ​ 69,915 License fee ​ 33,944 ​ 19,754 Deposits ​ 13,605 ​ 6,839 Deferred financing costs ​ 176,904 ​ — Miscellaneous ​ 1,514 ​ 4,387 Total prepaid expenses and other current assets ​ $ 1,225,201 ​ $ 737,316 ​

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Jun. 30, 2022
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT	5. PROPERTY AND EQUIPMENT Property and equipment, net, consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ 2022 2021 Laboratory equipment ​ $ 65,285 ​ $ 66,403 Computer equipment ​ 19,383 ​ 17,657 Total property and equipment ​ 84,668 ​ 84,060 Less: accumulated depreciation ​ (81,892) ​ (79,389) Property and equipment, net ​ $ 2,776 ​ $ 4,671 ​ Depreciation expense was $2,108 and $10,750 for the three months ended June 30, 2022 and 2021, respectively and $3,887 and $21,477 for the six months ended June 30, 2022 and 2021, respectively.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2022
INTANGIBLE ASSETS
INTANGIBLE ASSETS	6. INTANGIBLE ASSETS The Company has intangible assets consisting of acquired rights and patents with finite lives. In March 2012, the Company acquired rights to a certain patented technology that it had licensed from its Chief Scientific Officer for C$100,000. The Company is amortizing this asset over its expected useful life of 15 years. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ 2022 2021 Intangible assets ​ $ 77,683 ​ $ 79,015 Less: accumulated amortization ​ (53,126) ​ (51,401) Intangible assets, net ​ $ 24,557 ​ $ 27,614 ​ Amortization expense was $1,306 and $1,320 for the three months ended June 30, 2022 and 2021, respectively and $2,622 and $2,637 for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, the estimated expected amortization expense related to the Company’s intangible assets is $2,591 for the remaining 6 months of 2022, $5,183 for each year through the year ended

ACCRUED LIABILITIES

ACCRUED LIABILITIES	6 Months Ended
	Jun. 30, 2022
ACCRUED LIABILITIES
ACCRUED LIABILITIES	7. ACCRUED LIABILITIES Accrued liabilities consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2022 2021 Legal ​ $ 100,164 ​ $ 171,777 Accounting ​ 73,662 ​ 123,026 Research and development ​ 569,335 ​ 106,845 Accrued interest ​ — ​ 54,398 Other ​ 242,872 ​ 64,047 Accrued liabilities ​ $ 986,033 ​ $ 520,093 ​

CONVERTIBLE DEBT

CONVERTIBLE DEBT	6 Months Ended
	Jun. 30, 2022
CONVERTIBLE DEBT
CONVERTIBLE DEBT	8. CONVERTIBLE DEBT In March 2021, the Company completed a $7.0 million private placement of the convertible unsecured debentures (" Debentures On June 17, 2022, the Company amended the conversion feature of the Debentures (the “ Amended and Restated Debentures Between June 17, 2022 and June 19, 2022, the Company received notices of conversion from the holders of the Company’s Amended and Restated Debentures, requesting conversions in the aggregate of $7.0 million, representing the entirety of the outstanding balance thereof. In satisfaction of the notices of conversion, the Company issued, in the aggregate, 70,000,000 Series 1 Convertible Preferred Shares, described further in Note 9, to the Amended and Restated Debenture holders in accordance with the terms of the Amended and Restated Debentures and made cash payments to settle accrued interest through the conversion dates in the amount of $17,069. The Company recognized the redemption as an extinguishment of the outstanding debt and the related derivative, which required a remeasurement of the derivative liability as of June 19, 2022. The derivative liability at June 19, 2022 was valued at $2,741,058 using a scenario-based valuation method using a Monte Carlo simulation model, volatility of 87%, a risk-free interest rate of 2.94% and a selected debt yield of 27.2%. On June 19, 2022, following the remeasurement of the derivative liability, the Company recognized a gain from the change in fair value of the derivative liability of $892,753 during the three months ended June 30, 2022. The total gain recognized on the change in fair value of the derivative liability was $2,643,123 during the six months ended June 30, 2022. The extinguishment of the convertible notes was accounted for as follows: ​ ​ ​ ​ ​ ​ June 19, 2022 Carrying value of convertible debt net of issuance costs and debt discount (includes amortization of debt discount of $117,212 from April 1, 2022 to June 19, 2022) ​ $ 4,166,363 Derivative liability remeasured as of June 19, 2022 ​ 2,741,058 Total liabilities extinguished on conversion ​ 6,907,421 Fair value of Series 1 Convertible Preferred Shares recorded to additional paid-in-capital ​ 5,600,000 Gain on extinguishment of convertible debt and derivative liability ​ $ 1,307,421 ​ The fair value of Series 1 Convertible Preferred Shares recorded to additional paid-in-capital was calculated using the observable market price of Common Shares as the basis for determining fair value. The fair value of Common Shares was $0.08 per share on the conversion date. Legal fees resulting from the debt modification were expensed as incurred. ​

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2022
EQUITY
EQUITY	9. EQUITY The Company has authorized an unlimited number of both Common and Preferred Shares. As of June 30, 2022 and December 31, 2021, the Company had 7,195,529 issued and outstanding Common Shares and 70,000,000 and 0 issued outstanding Common Shares reserved for future issuance consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2022 2021 Warrants 1,560,588 1,560,588 Series 1 Convertible Preferred Shares 1,166,667 — Convertible debt ​ — ​ 1,166,667 Options issued and outstanding under stock option plan 834,691 738,037 Deferred share units 1,061 1,061 Common Shares available for grant under stock option plan 185,144 281,798 Total Common Shares reserved for future issuance 3,748,151 3,748,151 ​ The rights of the Common Shares are as follows: Voting Subject to any special voting rights or restrictions, holders of Common Shares entitled to vote shall have one vote per share. Dividends The Company’s Board of Directors may from time to time declare and authorize payment of dividends, if any, as they may deem advisable and need not give notice of such declaration to any shareholder. Subject to the rights of common shareholders, if any, holding shares with specific rights as to dividends, all dividends on Common Shares shall be declared and paid according to the number of such shares held and paid in Canadian dollars. Liquidation Rights In the event of the liquidation, dissolution or winding-up of the Company or any other distribution of the Company’s assets for the purpose of winding up the Company’s affairs, after the payment of dividends declared but unpaid, the holders of Common Shares shall be entitled pari passu Series 1 Convertible Preferred Shares On June 17, 2022, the directors of the Company authorized the issuance of 70,000,000 Series 1 Convertible Preferred Shares (“Preferred Shares”) with the following preferences, privileges and rights: Dividends If the Company declares, pays or sets aside any dividends on shares of any other class or series of capital stock the holders of the Preferred Shares shall receive a dividend on each outstanding share of Preferred Share in an amount equal to that dividend per share of the Preferred Share as would equal the product of the dividend payable as if all shares of such series had been converted into Common Shares. Liquidation In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, the holders of the Preferred Shares shall be entitled to be paid out of the assets of the Company available for distribution to the shareholders an amount per share equal to $6.00, plus any dividends declared but not paid. If, upon any such liquidation event, the assets available for distribution to the shareholders are insufficient to pay the holders of the Preferred Shares, the holders of the Preferred Shares shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full. Voting The Preferred Shares do not confer any voting rights or privileges. Redemption The Preferred Shares are not subject to mandatory redemption or other redemption provisions for which the events resulting in redemption are not within the Company’s control. Optional Conversion Preferred Shares are convertible, at the option of the holder thereof, at any time and from time to time, and without the payment of additional consideration by the holder thereof, into such number of fully paid and non-assessable Common Shares as is determined by dividing $0.10 by the applicable conversion price in effect at the time of conversion. The Conversion Price was initially equal to $0.10 and, following the Reverse Share Split on June 28, 2022, is equal to $6.00, such that 60 Preferred Shares are convertible into 1 Common Share. Mandatory Conversion All outstanding Preferred Shares shall automatically convert into Common Shares, at the effective conversion rate upon the closing of one or more sales of equity securities resulting in at least $30 million of gross proceeds to the Company. Equity Transactions In August 2021, the Company announced the closing of a public offering of 2,096,354 Common Share units at a price of US$9.60 per unit for gross proceeds of $20,125,000. The Company incurred $3,067,604 of share issuance costs in conjunction with the public offering. Each Common Share unit (“ Unit one one The Company determined the allocation of the US$9.60 Unit issue price to the Common Shares and the one Monte Carlo As of June 30, 2022, the fair value of the warrants was calculated using the Monte Carlo model with the following parameters: risk free interest rate of 2.39%; annual volatility of 94.00%; and expected life of 4.4 years. The balance as of June 30, 2022 was $1,605,020. ​ ​ ​ ​ ​ ​ ​ June 30, ​ 2022 Balance at December 31, 2021 ​ $ 1,871,687 Change in fair value of the warrant liability ​ (267,742) Foreign exchange loss ​ 1,075 Balance at June 30, 2022 ​ $ 1,605,020 ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 Balance at December 31, 2020 ​ $ — Warrant liability at issuance ​ 2,739,221 Change in fair value of the warrant liability ​ (840,555) Foreign exchange gain ​ (26,979) Balance at December 31, 2021 ​ $ 1,871,687 ​

WARRANTS

WARRANTS	6 Months Ended
	Jun. 30, 2022
WARRANTS
WARRANTS	​ 10. WARRANTS As of June 30, 2022, outstanding Common Share warrants and exercise prices denominated in C$ unless otherwise noted, related to unit offerings are as follows: ​ ​ ​ ​ ​ ​ Exercise ​ Number of ​ Price $ Warrants Expiry date 18.00 81,009 August 2022 17.10 21,083 August 2022 28.80 100,073 April 2023 28.80 139,659 January 2024 18.00 68,334 June 2024 18.00 150,818 November 2024 18.00 49,167 December 2024 12.00 279,613 November 2025 USD12.60 524,088 August 2026 USD9.60 146,744 August 2026 ​ 1,560,588 ​ ​

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2022
SHARE-BASED COMPENSATION
SHARE-BASED COMPENSATION	11. SHARE-BASED COMPENSATION 2007 Stock Option Plan The Company maintains the 2007 Stock Option Plan ( “2007 Option Plan” The following table summarizes the activity of the share options under the 2007 Option Plan for the six months ended June 30, 2022. All amounts are denominated in C$, except year and share amounts: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Weighted ​ ​ ​ ​ ​ ​ Average ​ Average ​ ​ ​ ​ ​ Number of ​ Exercise ​ Remaining ​ Aggregate ​ ​ Share ​ Price Per ​ Contractual ​ Intrinsic ​ Options Share Term (years) Value Outstanding as of December 31, 2021 738,037 ​ $ 8.40 5.1 ​ $ 2,231,293 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Granted 151,666 ​ 7.20 — ​ — Forfeited (55,013) ​ 18.59 — ​ — Outstanding as of June 30, 2022 834,691 ​ 7.64 5.7 ​ 471,532 Vested and exercisable as of June 30, 2022 629,886 ​ $ 7.25 4.5 ​ $ 597,539 ​ The aggregate intrinsic value of options outstanding and vested and exercisable is calculated as the difference between the exercise price of the underlying options, and the fair value of the Company’s Common Shares. During the six months ended June 30, 2022 and 2021, the Company granted share options with a grant date fair value C$964,305 and C$328,148 respectively. During the six months ended June 30, 2022 there were no options exercised. The fair value of the share options granted was estimated using Black Scholes with the following assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, ​ ​ ​ 2022 ​ 2021 Weighted average fair value of Common Shares C$ 6.35 C$ 14.40 ​ Expected volatility ​ 98.8 % ​ 90.0 % Risk-free interest rate ​ 2.59 % ​ 0.71 % Expected dividend yield ​ 0 % ​ 0 % Expected term (years) ​ 6.0 ​ 2.8 ​ ​ Expected volatility is based on historical volatility of our shares over the expected life of the option, as our options are not readily tradable. DSU Plan The Company has a deferred share unit plan (“ DSU Plan S hare-based Payment Expense The following table summarizes total share-based compensation included in the Company’s accompanying unaudited condensed consolidated statements of operations and comprehensive loss: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended Six Months Ended ​ ​ June 30, ​ June 30, ​ 2022 2021 2022 2021 Research and development ​ $ 38,473 ​ $ 73,865 ​ $ 100,579 ​ $ 105,178 General and administrative ​ 78,470 ​ 52,399 ​ 139,698 ​ 102,673 Total share-based compensation expense ​ $ 116,943 ​ $ 126,264 ​ $ 240,277 ​ $ 207,851 ​ As of June 30, 2022, there was C$1,387,704 of unrecognized share-based compensation related to options outstanding, which were expected to be recognized over weighted-average remaining service period of 3.2 years.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2022
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	12. RELATED PARTY TRANSACTIONS During the six months ended June 30, 2022 and 2021, the Company paid $259,745 and $123,756, respectively, for consulting services to a firm specializing in finance and strategic support for life science companies. The Chief Financial Officer of the Company is a managing director of the consulting firm. In April 2016, the Company entered into a three-year, collaborative research agreement (“ CRA UBC one- year

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2022
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	13. COMMITMENTS AND CONTINGENCIES Research, Development and License Agreements The Company enters into research, development and license agreements with various parties in the ordinary course of business where the Company receives research services and rights to proprietary technologies. The agreements require compensation to be paid by the Company, typically, by a combination of the following: · fees comprising amounts due initially on entering into the agreements and additional amounts due either on specified timelines or defined services to be provided; · milestone payments that are dependent on products developed under the agreements proceeding toward specified plans of clinical trials and commercial development; and · royalty payments calculated as a percentage of net sales, commencing on commercial sale of any product candidates developed from the technologies. Milestone and royalty related amounts that may come due under various agreements are dependent on, among other factors, preclinical safety and efficacy, clinical trials, regulatory approvals and, ultimately, the successful development and commercial launch of a new drug, the outcomes and timings of which are uncertain. Amounts due per the various agreements for milestone payments will accrue once the occurrence of a milestone is likely. Amounts due as royalty payments will accrue as commercial revenues from the product are earned. Through June 30, 2022, no events have occurred that require accrual of any milestone or royalty related amounts. UBC and the Vancouver Coastal Health Authority Agreement In April 2016, the Company entered into a three-year, CRA with the UBC and the Vancouver Coastal Health Authority. The agreement was amended various times through September 2019. In January 2022, the UBC CRA was amended, and funding was increased to C$5,030,000 for an additional two years. This amendment, along with the November 2021 amendment extends the project for an additional three years, effective January 1, 2022. Refer to Note 12 Related Party Transactions. UBC Agreement In February 2009, the Company entered into an agreement with UBC to further the development and commercialization of certain technology developed, in part, by the Company’s Chief Scientific Officer. The agreement was amended and restated in October 2015. Under the amended and restated agreement, the Company is committed to make royalty payments based on revenue earned from the licensed technology. An annual license fee is payable over the term of the agreement. The agreement remains effective unless terminated under the provisions of the agreement. Through June 30, 2022 no accruals for royalty payments have been made. University Health Network Agreement In April 2006, an additional amendments through November 2013, the Company entered into an agreement with the University Health Network, Toronto, to license certain technology and related intellectual property. Under the agreement, the Company is committed to make milestone payments of up to C$635,000 based on the successful outcomes of clinical and regulatory outcomes, buyout payments and royalty payments based on revenue earned from the licensed technology. As of June 30, 2022 and December 31, 2021, no accruals for any milestones or royalty payments have been made. Indemnification In the ordinary course of business, the Company enters into agreements that may include indemnification provisions. Pursuant to such agreements, the Company may indemnify, hold harmless and defend an indemnified party for losses suffered or incurred by the indemnified party. Some of the provisions will limit losses to those arising from third party actions. In some cases, the indemnification will continue after the termination of the agreement. The maximum potential amount of future payments the Company could be required to make under these provisions is not determinable. The Company has never incurred material costs to defend lawsuits or settle claims related to these indemnification provisions. The Company has also entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers. The Company currently has directors’ and officers’ insurance. Leases During the six months ended June 30, 2022 and 2021, the Company made short-term lease payments in the amount of $20,301 and $5,150, respectively, and are included in general and administrative expenses in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss. The Company’s commitment for future payments under its lease agreements is C$9,001 for the remainder of the year ended 2022.

NET LOSS PER SHARE

NET LOSS PER SHARE	6 Months Ended
	Jun. 30, 2022
NET LOSS PER SHARE
NET LOSS PER SHARE	14. NET LOSS PER SHARE The following table sets forth the computation of basic and diluted net loss per share attributable to common shareholders: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ 2022 2021 Numerator: ​ ​ Net loss attributable to common shareholders ​ $ 4,790,406 ​ $ 6,480,071 Denominator: ​ ​ ​ ​ Weighted-average shares outstanding used in computing net loss per share attributable to common shareholders, basic and diluted ​ 7,195,529 ​ 5,000,935 Net loss per share attributable to common shareholders, basic and diluted ​ $ (0.67) ​ $ (1.30) ​ The following outstanding potentially dilutive Common Shares equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ 2022 2021 Options issued and outstanding under stock option plan ​ 834,691 ​ 711,612 Warrants ​ 1,560,588 ​ 889,755 Convertible debt ​ ​ — ​ ​ 1,166,667 Series 1 Convertible Preferred Shares ​ 1,166,667 ​ — Deferred share units ​ 1,061 ​ 1,061 Total ​ 3,563,007 ​ 2,769,095 ​

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	15. SUBSEQUENT EVENTS No subsequent events were identified before the date these unaudited condensed consolidated financial statements were available to be issued of August 12, 2022.

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the year ended December 31, 2021, which are included with the Company’s Form 10 Registration Statement and related amendments filed with the United States Securities Exchange Commission (“ SEC ) The accompanying unaudited interim condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“ GAAP ASC ASU FASB In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements for the periods presented reflect all adjustments, consisting of only normal recurring adjustments, necessary to fairly present the Company's financial position, results of operations, and cash flows. The December 31, 2021 condensed consolidated balance sheet was derived from audited financial statements, but does not include all GAAP disclosures. The unaudited condensed consolidated financial statements for the interim periods are not necessarily indicative of results for the full year. On June 21, 2022, the directors of the Company authorized a reverse share split of the issued and outstanding Common Shares in a ratio of 60:1, effective June 28, 2022 (the “ Reverse Share Split
Principles of Consolidation	Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates, judgements and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions made in the accompanying unaudited condensed consolidated financial statements include, but are not limited to, the accrual for research and development expenses, the valuation of share-based compensation, and the valuation of warrant liabilities and embedded derivative liabilities. Actual results could differ from those estimates, and such differences could be material to the unaudited condensed consolidated financial statements.
Segment Information	Segment Information Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker (“ CODM
Foreign Currency	Foreign Currency Comprehensive loss is defined as a change in equity of a business enterprise during a period, resulting from transactions from non-owner sources. The reporting currency of the Company is the United States dollar (“ US$ C$
Emerging Growth Company Status	Emerging Growth Company Status The Company is an Emerging Growth Company, as defined in Section 2(a) of the Securities Act of 1933, as modified by the Jumpstart Our Business Startups Act of 2012 (“ JOBS Act
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases Topic 842 Leases Topic 842 Targeted Improvements In December 2019, the FASB issued ASU No 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Topic 740 In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options ( Subtopic 470-20 ) and Derivatives and Hedging Contracts in Entity s Own Equity ( Subtopic 815-40 ): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
FAIR VALUE MEASUREMENTS
Summary of major categories of assets and liabilities measured at fair value on a recurring basis	The following are the major categories of assets measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2022 ​ Level 1 Level 2 Level 3 Total Assets: ​ ​ ​ ​ Short-term investments ​ $ 32,687 ​ $ — ​ $ — ​ $ 32,687 Total assets measured at fair value ​ $ 32,687 ​ $ — ​ $ — ​ $ 32,687 Liabilities: ​ ​ ​ ​ ​ ​ ​ Derivative liability ​ $ — ​ $ — ​ $ — ​ $ — Warrant liability ​ — ​ — ​ 1,605,020 ​ 1,605,020 Total liabilities measured at fair value ​ $ — ​ $ — ​ $ 1,605,020 ​ $ 1,605,020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ Level 1 Level 2 Level 3 Total Assets: ​ ​ ​ ​ Short-term investments ​ $ 33,248 ​ $ — ​ $ — ​ $ 33,248 Total assets measured at fair value ​ $ 33,248 ​ $ — ​ $ — ​ $ 33,248 Liabilities: ​ ​ ​ ​ Derivative liability ​ $ — ​ $ — ​ $ 5,379,878 ​ $ 5,379,878 Warrant liability ​ — ​ — ​ 1,871,687 ​ 1,871,687 Total liabilities measured at fair value ​ $ — ​ $ — ​ $ 7,251,565 ​ $ 7,251,565

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	6 Months Ended
	Jun. 30, 2022
PREPAID EXPENSES AND OTHER CURRENT ASSETS
Summary of prepaid expenses and other current assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ 2022 2021 Upfront research payments ​ $ 845,387 ​ $ 554,878 Goods and services tax receivable ​ 56,421 ​ 48,690 Insurance ​ 14,725 ​ 32,853 Dues and subscriptions ​ 25,791 ​ — Consultants ​ 56,910 ​ 69,915 License fee ​ 33,944 ​ 19,754 Deposits ​ 13,605 ​ 6,839 Deferred financing costs ​ 176,904 ​ — Miscellaneous ​ 1,514 ​ 4,387 Total prepaid expenses and other current assets ​ $ 1,225,201 ​ $ 737,316

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2022
PROPERTY AND EQUIPMENT
Summary of property and equipment, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ 2022 2021 Laboratory equipment ​ $ 65,285 ​ $ 66,403 Computer equipment ​ 19,383 ​ 17,657 Total property and equipment ​ 84,668 ​ 84,060 Less: accumulated depreciation ​ (81,892) ​ (79,389) Property and equipment, net ​ $ 2,776 ​ $ 4,671

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2022
INTANGIBLE ASSETS
Summary of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ 2022 2021 Intangible assets ​ $ 77,683 ​ $ 79,015 Less: accumulated amortization ​ (53,126) ​ (51,401) Intangible assets, net ​ $ 24,557 ​ $ 27,614

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2022
ACCRUED LIABILITIES
Summary of accrued liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2022 2021 Legal ​ $ 100,164 ​ $ 171,777 Accounting ​ 73,662 ​ 123,026 Research and development ​ 569,335 ​ 106,845 Accrued interest ​ — ​ 54,398 Other ​ 242,872 ​ 64,047 Accrued liabilities ​ $ 986,033 ​ $ 520,093

CONVERTIBLE DEBT (Tables)

CONVERTIBLE DEBT (Tables)	6 Months Ended
	Jun. 30, 2022
CONVERTIBLE DEBT
Summary of extinguishment of the convertible notes	​ ​ ​ ​ ​ ​ June 19, 2022 Carrying value of convertible debt net of issuance costs and debt discount (includes amortization of debt discount of $117,212 from April 1, 2022 to June 19, 2022) ​ $ 4,166,363 Derivative liability remeasured as of June 19, 2022 ​ 2,741,058 Total liabilities extinguished on conversion ​ 6,907,421 Fair value of Series 1 Convertible Preferred Shares recorded to additional paid-in-capital ​ 5,600,000 Gain on extinguishment of convertible debt and derivative liability ​ $ 1,307,421

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Jun. 30, 2022
EQUITY
Summary of common shares reserved for future issuance	​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2022 2021 Warrants 1,560,588 1,560,588 Series 1 Convertible Preferred Shares 1,166,667 — Convertible debt ​ — ​ 1,166,667 Options issued and outstanding under stock option plan 834,691 738,037 Deferred share units 1,061 1,061 Common Shares available for grant under stock option plan 185,144 281,798 Total Common Shares reserved for future issuance 3,748,151 3,748,151
Summary of fair value of the warrants	​ ​ ​ ​ ​ ​ ​ June 30, ​ 2022 Balance at December 31, 2021 ​ $ 1,871,687 Change in fair value of the warrant liability ​ (267,742) Foreign exchange loss ​ 1,075 Balance at June 30, 2022 ​ $ 1,605,020 ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 Balance at December 31, 2020 ​ $ — Warrant liability at issuance ​ 2,739,221 Change in fair value of the warrant liability ​ (840,555) Foreign exchange gain ​ (26,979) Balance at December 31, 2021 ​ $ 1,871,687

WARRANTS (Tables)

WARRANTS (Tables)	6 Months Ended
	Jun. 30, 2022
WARRANTS
Summary of outstanding common share warrants and exercise prices	​ ​ ​ ​ ​ ​ Exercise ​ Number of ​ Price $ Warrants Expiry date 18.00 81,009 August 2022 17.10 21,083 August 2022 28.80 100,073 April 2023 28.80 139,659 January 2024 18.00 68,334 June 2024 18.00 150,818 November 2024 18.00 49,167 December 2024 12.00 279,613 November 2025 USD12.60 524,088 August 2026 USD9.60 146,744 August 2026 ​ 1,560,588 ​

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2022
SHARE-BASED COMPENSATION
Summary of the activity of share options	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Weighted ​ ​ ​ ​ ​ ​ Average ​ Average ​ ​ ​ ​ ​ Number of ​ Exercise ​ Remaining ​ Aggregate ​ ​ Share ​ Price Per ​ Contractual ​ Intrinsic ​ Options Share Term (years) Value Outstanding as of December 31, 2021 738,037 ​ $ 8.40 5.1 ​ $ 2,231,293 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Granted 151,666 ​ 7.20 — ​ — Forfeited (55,013) ​ 18.59 — ​ — Outstanding as of June 30, 2022 834,691 ​ 7.64 5.7 ​ 471,532 Vested and exercisable as of June 30, 2022 629,886 ​ $ 7.25 4.5 ​ $ 597,539
Summary of fair value of share options granted estimated using Black Scholes with the assumptions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, ​ ​ ​ 2022 ​ 2021 Weighted average fair value of Common Shares C$ 6.35 C$ 14.40 ​ Expected volatility ​ 98.8 % ​ 90.0 % Risk-free interest rate ​ 2.59 % ​ 0.71 % Expected dividend yield ​ 0 % ​ 0 % Expected term (years) ​ 6.0 ​ 2.8 ​
Summary of total share-based compensation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended Six Months Ended ​ ​ June 30, ​ June 30, ​ 2022 2021 2022 2021 Research and development ​ $ 38,473 ​ $ 73,865 ​ $ 100,579 ​ $ 105,178 General and administrative ​ 78,470 ​ 52,399 ​ 139,698 ​ 102,673 Total share-based compensation expense ​ $ 116,943 ​ $ 126,264 ​ $ 240,277 ​ $ 207,851

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2022
NET LOSS PER SHARE
Summary of computation of basic and diluted net loss per share attributable to common shareholders	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ 2022 2021 Numerator: ​ ​ Net loss attributable to common shareholders ​ $ 4,790,406 ​ $ 6,480,071 Denominator: ​ ​ ​ ​ Weighted-average shares outstanding used in computing net loss per share attributable to common shareholders, basic and diluted ​ 7,195,529 ​ 5,000,935 Net loss per share attributable to common shareholders, basic and diluted ​ $ (0.67) ​ $ (1.30)
Summary of outstanding potentially dilutive common shares equivalents were excluded from the computation of diluted net loss per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ 2022 2021 Options issued and outstanding under stock option plan ​ 834,691 ​ 711,612 Warrants ​ 1,560,588 ​ 889,755 Convertible debt ​ ​ — ​ ​ 1,166,667 Series 1 Convertible Preferred Shares ​ 1,166,667 ​ — Deferred share units ​ 1,061 ​ 1,061 Total ​ 3,563,007 ​ 2,769,095

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
DESCRIPTION OF BUSINESS
Net loss	$ (2,745,038)	$ (225,543)	$ (4,839,883)	$ (6,334,854)
Accumulated deficit	$ (67,031,084)		$ (67,031,084)		$ (62,191,201)

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	6 Months Ended
	Jun. 30, 2022 segment	Jun. 21, 2022
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Reverse share split ratio	60	60
Segment Information
Number of operating segment	1

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	Jun. 30, 2022	Jun. 19, 2022	Dec. 31, 2021
Liabilities:
Derivative liability		$ 2,741,058	$ 5,379,878
Warrant liability	$ 1,605,020		1,871,687
Recurring
Assets:
Short-term investments	32,687		33,248
Total assets measured at fair value	32,687		33,248
Liabilities:
Derivative liability			5,379,878
Warrant liability	1,605,020		1,871,687
Total liabilities measured at fair value	1,605,020		7,251,565
Recurring | Level 1
Assets:
Short-term investments	32,687		33,248
Total assets measured at fair value	32,687		33,248
Recurring | Level 3
Liabilities:
Derivative liability			5,379,878
Warrant liability	1,605,020		1,871,687
Total liabilities measured at fair value	$ 1,605,020		$ 7,251,565

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
PREPAID EXPENSES AND OTHER CURRENT ASSETS
Upfront research payments	$ 845,387	$ 554,878
Goods and services tax receivable	56,421	48,690
Insurance	14,725	32,853
Dues and subscriptions	25,791
Consultants	56,910	69,915
License fee	33,944	19,754
Deposits	13,605	6,839
Deferred financing costs	176,904
Miscellaneous	1,514	4,387
Total prepaid expenses and other current assets	$ 1,225,201	$ 737,316

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment, Net, by Type [Abstract]
Total property and equipment	$ 84,668		$ 84,668		$ 84,060
Less: accumulated depreciation	(81,892)		(81,892)		(79,389)
Property and equipment, net	2,776		2,776		4,671
Depreciation expense	2,108	$ 10,750	3,887	$ 21,477
Laboratory equipment
Property, Plant and Equipment, Net, by Type [Abstract]
Total property and equipment	65,285		65,285		66,403
Computer equipment
Property, Plant and Equipment, Net, by Type [Abstract]
Total property and equipment	$ 19,383		$ 19,383		$ 17,657

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details)	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2012 CAD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
INTANGIBLE ASSETS
Rights to certain patented technology acquired	$ 100,000
Expected useful life	15 years
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets		$ 77,683		$ 77,683		$ 79,015
Less: accumulated amortization		(53,126)		(53,126)		(51,401)
Intangible assets, net		24,557		24,557		$ 27,614
Amortization expense		1,306	$ 1,320	2,622	$ 2,637
Estimated expected amortization expense
2022 (Remaining six months period)		2,591		2,591
2023		5,183		5,183
2024		5,183		5,183
2025		5,183		5,183
2026		5,183		5,183
2027		$ 1,234		$ 1,234

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
ACCRUED LIABILITIES
Legal	$ (100,164)	$ (171,777)
Accounting	73,662	123,026
Research and development	(569,335)	(106,845)
Accrued interest		54,398
Other	242,872	64,047
Accrued liabilities	$ 986,033	$ 520,093

CONVERTIBLE DEBT (Details)

CONVERTIBLE DEBT (Details)		1 Months Ended	3 Months Ended	6 Months Ended
	Jun. 19, 2022 USD ($) EquityInstruments	Mar. 31, 2021 USD ($)	Jun. 30, 2022 USD ($) $ / shares	Jun. 30, 2022 USD ($) $ / shares	Jun. 17, 2022 $ / shares	Jun. 16, 2022 $ / shares	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Derivative liability	$ 2,741,058						$ 5,379,878
Fair value of Common Shares per share | $ / shares			$ 0.08	$ 0.08
Derivative liability
Debt Instrument [Line Items]
Derivative liability at issuance				$ 3,432,558
Gain from change in fair value of derivative liability			$ 892,753	$ 2,643,123
volatility
Debt Instrument [Line Items]
Derivative liability, measurement input	87
Risk Free Interest rate
Debt Instrument [Line Items]
Derivative liability, measurement input	2.94
Debt yield
Debt Instrument [Line Items]
Derivative liability, measurement input	27.2
Debentures
Debt Instrument [Line Items]
Proceeds from issuance of debt		$ 3,567,442
Conversion price | $ / shares					$ 6	$ 6
Debentures converted amount	$ 7,000,000
Number of Series 1 convertible preferred shares to be issued on conversion of debentures | EquityInstruments	70,000,000
Cash payments to settle accrued interest	$ 17,069
Private Placement
Debt Instrument [Line Items]
Issuance costs		48,220
Private Placement | Debentures
Debt Instrument [Line Items]
Proceeds from issuance of debt		7,000,000
Issuance costs		$ 24,575

CONVERTIBLE DEBT - Extinguishme

CONVERTIBLE DEBT - Extinguishment of the convertible notes (Details) - USD ($)		3 Months Ended		6 Months Ended
	Jun. 19, 2022	Jun. 30, 2022	Jun. 19, 2022	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Extinguishment of Debt [Line Items]
Derivative liability	$ 2,741,058		$ 2,741,058			$ 5,379,878
Gain on extinguishment of convertible debt and derivative liability		$ 1,307,421		$ 1,307,421
Amortization of debt discount				$ 250,060	$ 97,404
Convertible notes
Extinguishment of Debt [Line Items]
Carrying value of convertible debt net of issuance costs and debt discount (includes amortization of debt discount of $117,212 from April 1, 2022 to June 19, 2022)	4,166,363		4,166,363
Derivative liability	2,741,058		2,741,058
Total liabilities extinguished on conversion	6,907,421
Fair value of Series 1 Convertible Preferred Shares recorded to additional paid-in-capital	5,600,000
Gain on extinguishment of convertible debt and derivative liability	$ 1,307,421
Amortization of debt discount			$ 117,212

EQUITY (Details)

EQUITY (Details) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
EQUITY
Common shares, shares issued	7,195,529	7,195,529
Common shares, shares outstanding	7,195,529	7,195,529
Series S1 Convertible Preferred stock, Shares issued	70,000,000	0
Series S1 Convertible Preferred stock, Shares outstanding	70,000,000	0
Common shares, par value	$ 0	$ 0

EQUITY - Future issuances (Deta

EQUITY - Future issuances (Details) - shares	Jun. 30, 2022	Dec. 31, 2021
EQUITY
Warrants	1,560,588	1,560,588
Series 1 Convertible Preferred Shares	1,166,667
Convertible debt		1,166,667
Options issued and outstanding under stock option plan	834,691	738,037
Deferred share units	1,061	1,061
Common Shares available for grant under stock option plan	185,144	281,798
Total Common Shares reserved for future issuance	3,748,151	3,748,151

EQUITY - Rights of the common s

EQUITY - Rights of the common shares gross proceeds (Details)	1 Months Ended	6 Months Ended
	Aug. 31, 2021 USD ($) D $ / shares shares	Jun. 30, 2022 USD ($) Vote $ / shares shares	Jun. 21, 2022	Jun. 17, 2022 shares	Dec. 31, 2021 shares
Class of Stock [Line Items]
Number of vote per share | Vote		1
Series S1 Convertible Preferred stock, Shares authorized | shares		70,000,000		70,000,000	70,000,000
Series S1 Convertible Preferred stock, Liquidation price per share		$ 6
Value divided to ascertain shares convertible		0.10
Series S1 Convertible Preferred stock, conversion price per share		0.10
Series S1 Convertible Preferred stock, conversion price per share after reverse stock split		$ 6
Reverse share split ratio		60	60
Gross proceeds from sale of equity securities | $		$ 30,000,000
IPO
Class of Stock [Line Items]
Number of units issued | shares	2,096,354
Price per unit	$ 9.60
Gross proceeds from offering | $	$ 20,125,000
Issuance costs of units | $	$ 3,067,604
Number of common share per unit | shares	1
Number of warrants per unit | shares	0.25
Number of common share per warrant | shares	0.25
Warrants exercise price	$ 12.60
Warrants exercisable term	5 years
Term for acceleration of warrants	30 days
Toronto Stock Exchange trading price	$ 37.80
Number of consecutive trading days | D	10

EQUITY - Equity transactions (D

EQUITY - Equity transactions (Details)	1 Months Ended
	Aug. 31, 2021 USD ($) $ / shares shares	Jun. 30, 2022 USD ($)	Jun. 30, 2022 $ / shares	Jun. 30, 2021 $ / shares
Class of Stock [Line Items]
Share price | $ / shares			$ 6.35	$ 14.40
Issuance costs allocated to the warrants	$ 444,558
Risk Free Interest rate
Class of Stock [Line Items]
Warrants, measurement input	0.84	2.39
volatility
Class of Stock [Line Items]
Warrants, measurement input	95.6	94
Expected life
Class of Stock [Line Items]
Warrants, measurement input	5	4.4
Warrants
Class of Stock [Line Items]
Price per unit | $ / shares	$ 9.60
Number of warrants per unit | shares	0.25
Gross proceeds from issuance allocated to common shares	$ 15,868,381
Issuance costs allocated to the common shares	1,665,099
Gross proceeds from issuance allocated to common shares warrants	$ 2,739,221
Share price | $ / shares	$ 8.28
Common share purchase warrants price | $ / shares	$ 1.32
Outstanding balance of warrants		$ 1,605,020

EQUITY - Warrants liability (De

EQUITY - Warrants liability (Details) - Warrants - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at the beginning	$ 1,871,687	$ 0
Warrant liability at issuance		2,739,221
Change in fair value of the warrant liability	(267,742)	(840,555)
Foreign exchange loss (gain)	1,075	(26,979)
Balance at the end	$ 1,605,020	$ 1,871,687

WARRANTS (Details)

WARRANTS (Details) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Class of Warrant or Right [Line Items]
Number of Warrants	1,560,588	1,560,588
Exercise Price 18.00 | August 2022
Class of Warrant or Right [Line Items]
Exercise Price	$ 18
Number of Warrants	81,009
Exercise Price 18.00 | June 2024
Class of Warrant or Right [Line Items]
Exercise Price	$ 18
Number of Warrants	68,334
Exercise Price 18.00 | November 2024
Class of Warrant or Right [Line Items]
Exercise Price	$ 18
Number of Warrants	150,818
Exercise Price 18.00 | December 2024
Class of Warrant or Right [Line Items]
Exercise Price	$ 18
Number of Warrants	49,167
Exercise Price 17.10 | August 2022
Class of Warrant or Right [Line Items]
Exercise Price	$ 17.10
Number of Warrants	21,083
Exercise Price 28.80 | April 2023
Class of Warrant or Right [Line Items]
Exercise Price	$ 28.80
Number of Warrants	100,073
Exercise Price 28.80 | January 2024
Class of Warrant or Right [Line Items]
Exercise Price	$ 28.80
Number of Warrants	139,659
Exercise Price 12.00 | November 2025
Class of Warrant or Right [Line Items]
Exercise Price	$ 12
Number of Warrants	279,613
Exercise Price USD 12.60 | August 2026
Class of Warrant or Right [Line Items]
Exercise Price	$ 12.60
Number of Warrants	524,088
Exercise Price USD 9.60 | August 2026
Class of Warrant or Right [Line Items]
Exercise Price	$ 9.60
Number of Warrants	146,744

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - shares	1 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common Shares available for grant under stock option plan		185,144	281,798
Stock Option Plan 2007
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options authorized as percentage of issued and outstanding common shares	20%
Expiration term		10 years
Common Shares available for grant under stock option plan		185,144	281,798

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share options (Details)	6 Months Ended			12 Months Ended
	Jun. 30, 2022 $ / shares	Jun. 30, 2022 CAD ($) shares	Jun. 30, 2021 CAD ($) shares	Dec. 31, 2021 CAD ($) shares	Jun. 30, 2022 CAD ($) shares
Number of Share Options
Outstanding at the beginning		738,037
Granted		151,666
Forfeited		(55,013)
Outstanding at the end		834,691		738,037
Vested and exercisable at the end					629,886
Weighted Average Exercise Price Per Share
Outstanding at the beginning (in dollars per share) | $ / shares	$ 8.40
Granted (in dollars per share) | $ / shares	7.20
Forfeited (in dollars per share) | $ / shares	18.59
Outstanding at the end (in dollars per share) | $ / shares	7.64
Vested and exercisable at the end (in dollars per share) | $ / shares	$ 7.25
Weighted Average Remaining Contractual Term (years) and Aggregate Intrinsic Value
Outstanding at the beginning (in years)		5 years 8 months 12 days		5 years 1 month 6 days
Outstanding at the end (in years)		5 years 8 months 12 days		5 years 1 month 6 days
Vested and exercisable at the end (in years)		4 years 6 months
Outstanding at the beginning (in dollars) | $		$ 2,231,293
Outstanding at the end (in dollars) | $		471,532		$ 2,231,293
Vested and exercisable at the end (in dollars) | $					$ 597,539
Grant date fair value of share options granted | $		$ 964,305	$ 328,148
Number of options exercised		0	0

SHARE-BASED COMPENSATION - Fair

SHARE-BASED COMPENSATION - Fair value of the share options granted (Details) - $ / shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Fair value of share options granted estimated using Black Scholes
Weighted average fair value of Common Shares	$ 6.35	$ 14.40
Expected volatility	98.80%	90%
Risk-free interest rate	2.59%	0.71%
Expected dividend yield	0%	0%
Expected term (years)	6 years	2 years 9 months 18 days

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional information (Details)	Jun. 30, 2022 shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares authorized	16,666
Number of shares per unit	1
DSU plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of units outstanding	1,061

SHARE-BASED COMPENSATION - Stat

SHARE-BASED COMPENSATION - Statements of operations and comprehensive loss (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 CAD ($)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	$ 116,943	$ 126,264	$ 240,277	$ 207,851
Unrecognized share-based compensation related to options outstanding					$ 1,387,704
Unrecognized share-based compensation related to options outstanding expected to be recognized over weighted-average remaining service period			3 years 2 months 12 days
Research and development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	38,473	73,865	$ 100,579	105,178
General and administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	$ 78,470	$ 52,399	$ 139,698	$ 102,673

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Related Party Transaction [Line Items]
Payments made for consulting services	$ 255,563	$ 197,634
Consulting services
Related Party Transaction [Line Items]
Payments made for consulting services	$ 259,745	$ 123,756

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional information (Details)		1 Months Ended			6 Months Ended
	Jan. 01, 2022 CAD ($)	Sep. 30, 2019 CAD ($)	Feb. 28, 2019 CAD ($)	Apr. 30, 2016 CAD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Nov. 30, 2021 CAD ($)	Jul. 31, 2018 CAD ($)	Mar. 31, 2018 CAD ($)
Related Party Transaction [Line Items]
Term of agreement				3 years
Funding commitment		$ 2,630,000	$ 2,130,000					$ 1,130,000	$ 892,500
Additional term of agreement	3 years	1 year	2 years
Additional grant	$ 3,430,000						$ 800,000
Cost incurred					$ 255,563	$ 197,634
Collaborative research agreement
Related Party Transaction [Line Items]
Funding commitment				$ 787,500

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)		1 Months Ended
	Jan. 01, 2022	Jan. 31, 2022 CAD ($)	Sep. 30, 2019 CAD ($)	Feb. 28, 2019 CAD ($)	Apr. 30, 2016	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jul. 31, 2018 CAD ($)	Mar. 31, 2018 CAD ($)	Apr. 30, 2006 CAD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Accruals for royalty payments						$ 0
Term of agreement					3 years
Funding commitment			$ 2,630,000	$ 2,130,000				$ 1,130,000	$ 892,500
Additional term of agreement	3 years		1 year	2 years
UBC and the Vancouver Coastal Health Authority Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Funding commitment		$ 5,030,000
Additional term of agreement		2 years
UBC Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Accruals for royalty payments						0
University Health Network Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Accruals for royalty payments						$ 0	$ 0
Maximum milestone payments										$ 635,000

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Leases (Details)	6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 CAD ($)
COMMITMENTS AND CONTINGENCIES
Short-term lease payments	$ 20,301	$ 5,150
Commitment for future payments under its lease agreements for the remainder of the year ended 2022			$ 9,001

NET LOSS PER SHARE (Details)

NET LOSS PER SHARE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net loss attributable to common shareholders			$ 4,790,406	$ 6,480,071
Denominator:
Weighted-average shares outstanding used in computing net loss per share attributable to common shareholders, basic	7,195,529	5,099,172	7,195,529	5,000,935
Weighted-average shares outstanding used in computing net loss per share attributable to common shareholders, diluted	7,195,529	5,099,172	7,195,529	5,000,935
Net loss per share attributable to common shareholders, basic	$ (0.38)	$ (0.06)	$ (0.67)	$ (1.30)
Net loss per share attributable to common shareholders, diluted	$ (0.38)	$ (0.06)	$ (0.67)	$ (1.30)

NET LOSS PER SHARE - Outstandin

NET LOSS PER SHARE - Outstanding potentially dilutive common shares (Details) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive common shares equivalents excluded from computation of diluted net loss per share for periods presented because including them would have been antidilutive	3,563,007	2,769,095
Options issued and outstanding under stock option plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive common shares equivalents excluded from computation of diluted net loss per share for periods presented because including them would have been antidilutive	834,691	711,612
Convertible debt
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive common shares equivalents excluded from computation of diluted net loss per share for periods presented because including them would have been antidilutive		1,166,667
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive common shares equivalents excluded from computation of diluted net loss per share for periods presented because including them would have been antidilutive	1,560,588	889,755
Series 1 Convertible Preferred Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive common shares equivalents excluded from computation of diluted net loss per share for periods presented because including them would have been antidilutive	1,166,667
Deferred share units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive common shares equivalents excluded from computation of diluted net loss per share for periods presented because including them would have been antidilutive	1,061	1,061