Bionik Laboratories (BNKL) 10-Q 11 Feb 21 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Dec. 31, 2020	Feb. 10, 2021
Document And Entity Information
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Registrant Name	Bionik Laboratories Corp.
Entity Central Index Key	0001508381
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Trading Symbol	BNKL
Entity Common Stock, Shares Outstanding		5,004,984
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Small Business	true

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Current assets
Cash and cash equivalents	$ 895,697	$ 2,269,747
Accounts receivable	174,305	846,964
Prepaid expenses and other current assets	1,658,477	1,632,555
Inventories	839,552	1,059,462
Due from related parties	20,154	17,840
Total current assets	3,588,185	5,826,568
Equipment	105,220	154,144
Intangible assets, net	1,000,131	1,449,924
Goodwill	4,282,984	11,085,984
Total assets	8,976,520	18,516,620
Current liabilities
Accounts Payable	544,204	857,093
Accrued liabilities	2,067,795	1,647,656
PPP Loan	459,912	0
Convertible Loans	3,841,384	2,078,833
Deferred revenue, current portion	301,302	200,437
Total current liabilities	7,214,597	4,784,019
Deferred revenue, net of current portion	311,479	415,626
Total Liabilities	7,526,076	5,199,645
Commitments and contingencies (Note 10)
Shareholders' Equity
Preferred stock, $0.001 par value; Authorized 10,000,000, Issued none Special voting preferred stock, $0.001 par value; Authorized; Issued - 1
Common stock, $0.001 par value; Authorized - 13,000,000; (March 31, 2020 - 500,000,000) Issued 5,009,151 and 117,683 Exchangeable Shares at December 31, 2020 and March 31, 2020	5,126	5,126
Additional paid-in capitall	85,362,618	84,643,570
Accumulated deficit	(83,959,449)	(71,373,870)
Accumulated other comprehensive income	42,149	42,149
Total stockholders' equity	1,450,444	13,316,975
Total liabilities and stockholders' equity	$ 8,976,520	$ 18,516,620

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Mar. 31, 2020
Preferred Stock, Par Value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	5,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	13,000,000	500,000,000
Common Stock, Shares, Issued	5,009,151	5,009,151
Common Stock, Other Shares, Issued	117,683	117,683
Special Voting [Member]
Preferred Stock, Par Value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	1	1
Preferred Stock, Shares Issued	1

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Condensed Consolidated Statements of Operations and Comprehensive Loss
Revenues, net	$ 180,409	$ 158,005	$ 730,698	$ 1,230,074
Cost of Revenue	9,581	143,595	142,183	562,887
Gross Profit	170,828	14,410	588,515	667,187
Operating expenses
Sales and marketing	325,175	480,834	792,622	1,649,340
Research and development	449,580	1,021,418	1,213,350	2,724,000
General and administrative	983,858	1,193,391	3,052,017	3,440,305
Impairment of goodwill & intangible assets	7,182,053		7,182,053	0
Share-based compensation expense	98,794	447,219	719,048	1,373,195
Total operating expenses	9,039,460	3,142,862	12,959,090	9,186,840
Other (income) expenses
Loss from operations	(8,868,632)	(3,128,452)	(12,370,575)	(8,519,653)
Interest expense	79,183	2,788	265,566	172,485
Other expense (income), net	3,066	(161,291)	(50,562)	(218,860)
Total other expense (income)	82,249	(158,503)	215,004	(46,375)
Net (loss) and comprehensive (loss) for the period			12,600,000	8,500,000
Net loss	$ (8,950,881)	$ (2,969,949)	$ (12,585,579)	$ (8,473,278)
Loss per share - basic and diluted	$ (1.75)	$ (0.58)	$ (2.45)	$ (1.99)
Weighted average number of shares outstanding - basic and diluted	5,126,834	5,126,834	5,126,834	4,264,723

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating activities
Net loss	$ (12,585,579)	$ (8,473,278)
Reconciliation of net loss to net cash from operating activities:
Depreciation and amortization	119,664	286,608
Interest expense	265,566	146,144
Allowance for doubtful accounts	0	167,500
Impairment of goodwill & intangible assets	7,182,053	0
Share based compensation expense	719,048	1,373,195
Changes in non-cash working capital items
Accounts receivable	672,659	1,057,564
Prepaid expenses and other current assets	(25,922)	(374,802)
Due from related parties	(2,314)	(809)
Inventories	219,910	(1,029,739)
Accounts payable	(318,480)	(424,805)
Accrued liabilities	420,139	(465,084)
Deferred revenue	(3,282)	209,974
Net cash used in operating activities	(3,336,537)	(7,527,532)
Investing activities
Purchases of equipment	0	(95,730)
Net cash used in investing activities	0	(95,730)
Financing activities
Proceeds from convertible loans	1,502,575	9,070,000
Proceeds from PPP Loan	459,912	0
Repayment of term loan	0	(500,000)
Proceeds from term loan	0	500,000
Net cash provided by financing activities	1,962,487	9,070,000
Net (decrease) increase in cash and cash equivalents	(1,374,050)	1,446,738
Cash and cash equivalents, beginning of the period	2,269,747	446,779
Cash and cash equivalents, end of the period	$ 895,697	$ 1,893,517

Interim Condensed Consolidated

Interim Condensed Consolidated Financial Statements	9 Months Ended
	Dec. 31, 2020
Interim Condensed Consolidated Financial Statements
Interim Condensed Consolidated Financial Statements	1. Interim Condensed Consolidated Financial Statements The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for reporting on Form 10-Q. Accordingly, certain information and footnote disclosures required for complete financial statements are not included herein. It is recommended that these financial statements be read in conjunction with the consolidated financial statements and related notes that appear in the Annual Report on Form 10-K of Bionik Laboratories Corp. (“Bionik” or the “Company”) for the fiscal year ended March 31, 2020 filed with the SEC on June 30, 2020 (the “2020 Annual Report”). In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of December 31, 2020, and its results of operations for the three and nine months ended December 31, 2020 and 2019, and cash flows for the nine months ended December 31, 2020 and 2019. The condensed consolidated balance sheet at March 31, 2020 was derived from audited annual financial statements, but does not contain all of the footnote disclosures from the annual financial statements. Results of operations for the three and nine months ended December 31, 2020 are not necessarily indicative of the results for the year ending March 31, 2021 or any period thereafter. Reclassifications For comparability purposes, certain prior period amounts in the condensed consolidated financial statements have been reclassified to conform to the current period’s presentation within the condensed consolidated statements of operations and comprehensive loss, condensed consolidated statement of cash flows and condensed consolidated balance sheets. Management Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosures at the date of the financial statements during the reporting period. Significant estimates are used for, but are not limited to, revenue recognition, allowance for doubtful accounts, inventory reserves, impairment analysis of goodwill and intangibles including their useful lives, research and development accruals, deferred tax assets, liabilities and valuation allowances, and fair value of stock options. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts of COVID-19 as of December 31, 2020 and through the date of this report filing. On an ongoing basis, management evaluates its estimates and actual results could differ from those estimates. All adjustments, consisting only of normal recurring items, considered necessary for fair presentation have been included in these consolidated financial statements. Going Concern At December 31, 2020, cash and cash equivalents were $896,000. At December 31, 2020, the Company had a working capital deficit of $3.6 million and at March 31, 2020, the Company had working capital of $1.0 million. At December 31, 2020 and March 31, 2020, the Company has accumulated deficits of $84.0 million and $71.4 million. The Company has incurred a net loss and comprehensive loss for the nine months ended December 31, 2020 and 2019 of $12.6 million and $8.5 million, respectively. The Company’s future funding requirements depend on a number of factors, including the rate of market acceptance of its current and future products and the resources the Company devotes to developing and supporting the same. There is no certainty that the Company will be successful in generating sufficient cash flow from operations or achieving and maintaining profitable operations in the future to enable it to meet its obligations as they come due and consequently continue as a going concern. The Company will require additional financing to fund its operations and it is currently working on securing this funding through corporate collaborations, public or private equity offerings or debt financings. Sales of additional equity securities by the Company would result in the dilution of the interests of existing stockholders. There can be no assurance that financing will be available when required. In the event that the necessary additional financing is not obtained, the Company would reduce its discretionary overhead costs substantially or otherwise curtail operations. The Company expects to raise additional funds to meet the Company’s anticipated cash requirements for the next 12 months; however, these conditions raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty. Canada Emergency Wage Subsidy (CEWS) CEWS is recognized as other income in the consolidated statement of operations in the period in which the Company recognizes expenses for which CEWS is intended to compensate.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets
Goodwill and Intangible Assets	2. Goodwill and Intangible Assets Goodwill represents the excess of the purchase price over the fair value of assets acquired and liabilities assumed in a business combination. The Company does not amortize its goodwill, but instead tests for impairment annually in the fourth quarter and more frequently whenever events or changes in circumstances indicate that fair value of the asset may be less than the carrying value of the asset. Following the decline of Company sales associated with the global pandemic, management determined there are events and changes in circumstances that indicate the goodwill and other intangible assets are impaired. Accordingly, at December 31, 2020, the Company evaluated the ongoing value of the goodwill and other intangible assets. Based on this evaluation, the Company determined that certain intangible assets were no longer recoverable and were in fact impaired and recorded an impairment charge of $379,000 in the three months ended December 31, 2020. Further, the Company determined that the goodwill with the carrying value of $11.1 million was impaired and recorded an impairment charge of $6.8 million to the estimated value of $4.3 million. Fair value was based on expected future cash flows using Level 3 inputs under ASC 820. The cash flows are those expected to be generated by the market participants, discounted at the weighted average cost of capital. As noted in the Company's significant accounting policies, the Company has one reporting unit and its carrying value was compared to its estimated fair value. At December 31, 2020, the Company estimated its fair value using an income approach. The income approach is based on the present value of future cash flows, which are derived from long term financial forecasts, and requires significant assumptions and judgement including among others, a discount rate and a terminal value. The present value of future cash flows was determined by discounting estimated future cash flows, which included long-term growth rate of 3%, at a weighted average cost of capital (discount rate) of 27%, which considered the risk of achieving the projected cash flows, including the risk applicable to the reporting unit, industry and market as a whole. Changes to goodwill during the nine months ended December 31, 2020 were as follows: Total Balance—March 31, 2020 $ 11,085,984 Impairment of goodwill in period 6,803,000 Balance—December 31, 2020 $ 4,282,984 The Company capitalizes and includes in intangible assets the costs of trademark, patents, exclusive license arrangements and customer relationships. Intangible assets are recorded at fair value at the time of their acquisition and stated net of accumulated amortization. The Company amortizes its intangible assets that have finite lives using either the straight-line or accelerated method, based on the useful life of the asset over which it is expected to be consumed utilizing expected undiscounted future cash flows. Amortization is recorded over the estimated useful lives ranging from 1 to 10 years. The Company evaluates the realizability of its definite lived intangible assets whenever events or changes in circumstances or business conditions indicate that the carrying value of these assets may not be recoverable based on expectations of future undiscounted cash flows for each asset group. If the carrying value of an asset or asset group exceeds its undiscounted cash flows, the Company estimates the fair value of the assets, generally utilizing a discounted cash flow analysis based on the present value of estimated future cash flows to be generated by the assets using a risk-adjusted discount rate. To estimate the fair value of the assets, the Company uses market participant assumptions pursuant to Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurement and Disclosures, (“ASC 820”). If the estimate of an intangible asset’s revised useful life is changed, the Company will amortize the remaining carrying value of the intangible asset prospectively over the revised useful life. Intangible assets consist of the following at December 31, 2020 and March 31, 2020: Patents & Exclusive License Customer Non-Compete Assembled Agreement Trademark Relationships Agreement Workforce Total Useful Life 9.74 years Indefinite 10 years 2 years 1 year Gross carrying amount $ 1,306,031 $ 2,505,907 $ 1,431,680 $ 61,366 $ 275,720 $ 5,580,704 Impairment (316,388) (1,905,907) (857,298) — — (3,079,593) Accumulated amortization (589,512) — (574,382) (61,366) (275,720) (1,500,980) Balance—December 31, 2020 $ 400,131 $ 600,000 $ — $ — $ — $ 1,000,131 Patents & Exclusive License Customer Non-Compete Assembled Agreement Trademark Relationships Agreement Workforce Total Useful Life 9.74 years Indefinite 10 years 2 years 1 year Gross carrying amount $ 1,306,031 $ 2,505,907 $ 1,431,680 $ 61,366 $ 275,720 $ 5,580,704 Impairment (307,388) (1,605,907) (787,245) — — (2,700,540) Accumulated amortization (528,681) — (564,473) (61,366) (275,720) (1,430,240) Balance—March 31, 2020 $ 469,962 $ 900,000 $ 79,962 $ — $ — $ 1,449,924 Amortization expense for the three months ended December 31, 2020 and 2019 was $24,000 and $69,000, respectively. Amortization expense for the nine months ended December 31, 2020 and 2019 was $71,000 and $208,000, respectively. Amortization expense is classified as a component of general and administrative expenses in the accompanying condensed consolidated statements of operations.

Balance Sheet Accounts

Balance Sheet Accounts	9 Months Ended
	Dec. 31, 2020
Balance Sheet Accounts
Balance Sheet Accounts	3. Balance Sheet Accounts Prepaid Expenses December 31, March 31, 2020 2020 Prepaid inventory $ 1,499,042 $ 1,450,024 Prepaid insurance 116,825 57,226 Other prepaid expenses 42,610 125,305 $ 1,658,477 $ 1,632,555 Equipment Equipment consisted of the following at December 31, 2020 and March 31, 2020: December 31, 2020 March 31, 2020 Accumulated Accumulated Cost Depreciation Net Cost Depreciation Net Computers and electronics $ 303,337 $ 276,928 $ 26,409 $ 303,337 $ 264,520 $ 38,817 Furniture and fixtures 36,795 32,046 4,749 36,795 30,953 Demonstration equipment 135,543 68,809 66,734 135,543 37,662 Manufacturing equipment 88,742 86,977 1,765 88,742 86,688 Tools and parts 11,422 8,161 3,261 11,422 7,627 Assets under capital lease 68,453 66,151 2,302 68,453 62,698 $ 644,292 $ 539,072 $ 105,220 $ 644,292 $ 490,148 $ 154,144 Depreciation expense for the three months ended December 31, 2020 and 2019 was $15,000 and $28,000, respectively. Depreciation expense for the nine months ended December 31, 2020 and 2019 was $49,000 and $79,000, respectively. Accrued Expenses Accrued expenses consist of the following at December 31, 2020 and March 31, 2020: December 31, March 31, 2020 2020 Accrued personnel costs $ 951,556 $ 591,380 Accrued director fees 647,629 325,129 Accrued commissions 5,800 30,523 Accrued professional fees 175,000 253,831 Accrued warranty costs 45,936 162,449 Accrued other 241,874 284,344 $ 2,067,795 $ 1,647,656 The Company The significant increase in accrued personnel costs relates to the deferral of certain salary and bonus payments that are owed to senior management. The significant increase in accrued director fees relates to the deferral of certain payments owed to the Company’s independent board of directors.

Inventories

Inventories	9 Months Ended
	Dec. 31, 2020
Inventories
Inventories	4. Inventories Bionik states all inventories at the lower of cost or net realizable value, determined on a first-in, first-out method. Inventory includes finished goods at actual costs from its outsourced manufacturing partners. December 31, March 31, 2020 2020 Finished goods $ 839,552 $ 1,059,462

Notes Payable

Notes Payable	9 Months Ended
	Dec. 31, 2020
Notes Payable
Notes Payable	5. Notes Payable Convertible Loans Payable During the nine months ended December 31, 2020, the Company received $1.5 million, in addition to $70,000 previously loaned to the Company, pursuant to a $7.0 million (previously $3.0 million) convertible note offering (the "Convertible Note Offering"). The convertible notes issued in the Convertible Note Offering (the "Convertible Notes") bear interest at a fixed rate at 1% per month. The Convertible Notes will be convertible into equity of the Company upon the following events: (i) On the maturity date of March 31, 2021 (the "Maturity Date”), the outstanding principal and accrued and unpaid interest under the Convertible Notes will be converted into shares of common stock at a conversion price of $8.55 per shares in the event of an investment on or prior to December 31, 2019, and $9.50 per share in the event of an investment after December 31, 2019 (the “Conversion Price”). (ii) Upon a change of control transaction prior to the Maturity Date, the outstanding principal and accrued and unpaid interest under the Convertible Notes would, at the election of the holders of a majority of the outstanding principal of the loans under the Convertible Note Offering, be either (i) payable upon demand as of the closing of such change of control transaction or (ii) convertible into shares of the Company’s common stock immediately prior to such change of control transaction at a price per share equal to the lesser of (x) the Conversion Price or (y) the per share consideration to be received by the holders of the common stock in such change of control transaction. In the event the Company raises capital through the sale of common stock for cash during the period ending on the three year anniversary of the issuance date of the convertible notes, and the price per share thereof (the “ Offering Price ”) minus 20% is less than the original Conversion Price, then in such event the Company shall issue to all Convertible Noteholders at, at no further cost, additional shares of common stock equal to the number of conversion shares the holders would have received upon conversion if the Conversion Price equaled to a 20% discount to the Offering Price, less the number of shares of conversion shares actually issued on or as of the Maturity Date. Since the Company has early adopted ASU 2017-11, the anti-dilution protection clause does not contribute to the conversion feature to be a derivative liability. Interest expense associated with these Convertible Notes for the three and nine months ended December 31, 2020 was $47,000 and $104,000, respectively. Interest payable associated with these Convertible Notes at December 31, 2020 was $104,000 Shareholder loan On March 23, 2020, the Company received a $2.0 million loan from an existing shareholder. The promissory note evidencing the loan bears interest at a fixed rate of 1% per month and has a maturity date of the earlier of (i) March 31, 2022 and (ii) the date of receipt of a minimum of $5.0 million from a “Subsequent Financing.” The accrued interest shall be payable in cash commencing on March 31, 2021 with the quarterly payments accrued for the first three payment dates (3-month, 6-month and 9-month anniversaries of the issue date), and then quarterly thereafter. The remaining half of the interest accrued will be paid upon the maturity date. The loan is repayable or convertible to common shares at the loan holder’s option on March 31, 2022 at a price per share equal to the price per share of the Company’s then most recent capital raise or debt conversion, or any other valuation as agreed in writing between the loan holder and the Company. Interest expense associated with this loan for the three and nine months ended December 31, 2020 was $60,000 and $165,000. Interest payable associated with this loan at December 31, 2020 was $165,000. Paycheck Protection Program Loan In May 2020, the Company signed a promissory note for $459,912 pursuant to the federal Paycheck Protection Program under the Coronavirus Aid, Relief and Economic Security Act, which is administered by the U.S. Small Business Administration. The loan is unsecured, bears interest of 1% per annum and a deferment period of 6 months. The loan is to be used primarily for payroll related costs, lease, and utility payments. The Company has applied for forgiveness and is awaiting a response for the whole loan amount in accordance with applicable law. If the loan is not forgiven, the Company will be obligated to repay the loan during a period of 2 years.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Dec. 31, 2020
Related Party Transactions
Related Party Transactions	6. Related Party Transactions At December 31, 2020 and March 31, 2020 there was an outstanding loan to the Chief Technology Officer (“CTO”) of the Company of $20,000 and $18,000, respectively. The loan has an interest rate of 2% based on the Canada Revenue Agency’s prescribed rate for such advances and is denominated in Canadian dollars. During the three and nine months ended December 31, 2020, the Company recorded interest income of $300 and $900, respectively. The remaining fluctuation in the balance from the prior year is due to changes in foreign exchange.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Dec. 31, 2020
Stockholders' Equity
Stockholders' Equity	7. Stockholders’ Equity Common Stock Authorized December 31, 2020 March 31, 2020 Number of Number of shares $ shares $ Exchangeable Shares Balance beginning of period 117,683 $ 118 196,799 $ 197 Converted into common shares — — (79,116) (79) Balance at end of period 117,683 118 117,683 118 Common Shares Balance at beginning of the period 5,009,151 5,008 3,661,838 3,661 Shares issued to exchangeable shareholders — — 79,116 79 Shares issued on conversion of loans — — 1,268,191 1,268 Share consolidation rounding adjustment — — 6 — Balance at end of the period 5,009,151 5,008 5,009,151 5,008 Total Shares 5,126,834 $ 5,126 5,126,834 $ 5,126 As approved by the stockholders of the Company at the annual meeting of stockholders held on October 5, 2020, the Company filed a certificate of amendment to its Amended and Restated Certificate of Incorporation, as amended with the Secretary of State of Delaware to decrease the authorized number of shares of (i) common stock of the Company from 500,000,000 to 13,000,000 and (ii) preferred stock of the Company from 10,000,000 to 5,000,000. Special Voting Preferred Share In February 2015, the Company entered into a voting and exchange trust agreement (the “Trust Agreement”). Pursuant to the Trust Agreement, the Company issued one Special Voting Preferred Share to a Trustee, and the parties created a trust for the Trustee to hold the Special Voting Preferred Share for the benefit of the holders of the Exchangeable Shares of a subsidiary of the Company (the “Beneficiaries”). The Special Voting Preferred Share entitles the Trustee to exercise the number of votes equal to the number of Exchangeable Shares outstanding on a one-for-one basis during the term of the Trust Agreement. The Special Voting Preferred Share is not entitled to receive any dividends or to receive any assets of the Company upon liquidation and is not convertible into shares of common stock of the Company. The voting rights of the Special Voting Preferred Share will terminate pursuant to and in accordance with the Trust Agreement and the Special Voting Preferred Share will be automatically cancelled.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Dec. 31, 2020
Stock-Based Compensation
Stock-Based Compensation	8. Stock-Based Compensation Total stock-based compensation expense for the three months ended December 31, 2020 and 2019 was $99,000 and $447,000, respectively. Total stock-based compensation expense for the nine months ended December 31, 2020 and 2019 was $719,000 and $1.4 million, respectively. Bionik granted options to purchase 76,902 and 221,838 shares of common stock to employees during the nine months ended December 31, 2020 and 2019, respectively. Bionik granted options to purchase 341,190 shares of common stock to non-employees during the nine months ended December 31, 2019. There were no options granted to non-employees during the nine months ended December 31, 2020. Stock options granted to employees or non-employees typically vest over a 1 to 5 year period. Performance Based Units (“PSUs”) granted to employees vest annually based on time and continued performance and the achievement of performance goals as determined by the board of directors. The Company uses the Black-Scholes option pricing model to determine the estimated grant date fair values for stock-based awards. The Black-Scholes option pricing model requires the input of various subjective assumptions, including the option’s expected life and the price volatility of the underlying stock. The Company’s assumptions do not include an estimated forfeiture rate. The weighted-average grant date fair values of options granted to employees during the nine months ended December 31, 2020 and 2019 were $1.05 and $3.05, respectively. During the nine months ended December 31, 2019, 96,466 PSUs were granted with a weighted-average grant date fair value of $3.15. All grants awarded during the periods presented used the following assumptions: Nine Months Ended December 31, 2020 2019 Risk free interest rate 0.62 % 1.59 % Expected term 7 years 7 years Dividend yield — — Expected volatility 114 % 114 % Forfeiture rate 0 % 0 % Option-pricing models require the input of various subjective assumptions, including the option’s expected life and the price volatility of the underlying stock. Bionik’s estimated expected stock price volatility is based on past grants that have been made. Bionik’s expected term of options granted during the nine months ended December 31, 2020 and 2019 was derived from looking at the Company’s exercise history of its awards granted. The risk-free rate for the expected term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. As of December 31, 2020, the total unrecognized compensation cost related to outstanding stock options and PSUs expected to vest was $595,000, which the Company expects to recognize over a weighted-average period of 1.94 years.

Warrants

Warrants	9 Months Ended
	Dec. 31, 2020
Warrants
Warrants	9. Warrants The following is a continuity schedule of the Company’s common share purchase warrants: Weighted Average Number of Exercise Warrants Price Outstanding and exercisable, March 31, 2019 288,517 40.27 Expired (163,483) (38.91) Outstanding and exercisable, March 31, 2020 125,034 20.07 Expired (2,667) (37.50) Outstanding and exercisable December 31, 2020 122,367 19.69 During the nine months ended December 31, 2020, 2,667 warrants expired in accordance with their terms. Common share purchase warrants The following is a summary of common share purchase warrants outstanding as of December 31, 2020. Exercise Number of Price ($) Warrants Expiry Date 90.00 15,658 March 31, 2023 9.375 64,025 August 14, 2022 9.375 42,684 March 31, 2022 122,367 The weighted-average remaining contractual term of the outstanding warrants was 1.57 years.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 31, 2020
Commitments and Contingencies.
Commitments and Contingencies	10. Commitments and Contingencies Contingencies From time to time, the Company may be involved in a variety of claims, suits, investigations and proceedings arising in the ordinary course of our business, collections claims, breach of contract claims, labor and employment claims, tax and other matters. Although claims, suits, investigations and proceedings are inherently uncertain and their results cannot be predicted with certainty, the Company believes that the resolution of current pending matters will not have a material adverse effect on its business, financial position, results of operations or cash flow. Regardless of the outcome, litigation can have an adverse impact on the Company because of legal costs, diversion of management resources and other factors. Commitments · On February 25, 2015, 1,753 common shares were issued to two former lenders connected with a $241,185 loan received and repaid during fiscal 2013. The common shares were valued at $210,323 based on the value of the concurrent private placement and recorded in stock-based compensation on the consolidated statement of operations and comprehensive loss. As part of the consideration for the initial loan, the Company's then-CTO and COO had transferred 2,098 common shares to the lenders. For contributing the common shares to the lenders, the Company intends to reimburse the former CTO and COO 2,134 common shares. As of December 31, 2020 these shares have not yet been issued. · In May 2020, the Company gave notice to its JV Partner, Ginger Capital Investment Holding, Ltd. That it was terminating the licensing and distribution agreements. · In connection with the Company’s April 2016 acquisition of Interactive Motion Technologies, Inc., the Company acquired a license agreement dated September 8, 2009, with a former director as a co-licenser, pursuant to which the Company is obligated to pay the former director and the co-licenser an aggregate royalty of 1% of sales based on patent #8,613,691 Dynamic Lower Limb Rehabilitation Robotic Apparatus and Method of Rehabilitating Human Gait). No sales have been made, as the technology under this patent has not been commercialized.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Dec. 31, 2020
Recent Accounting Pronouncements.
Recent Accounting Pronouncements	11. Recent Accounting Pronouncements Accounting Standards Update 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: simplifies accounting for convertible instruments by removing major separation models required under current Generally Accepted Accounting Principles (“GAAP”). Consequently, more convertible debt instruments will be reported as a single liability instrument and more convertible preferred stock as a single equity instrument with no separate accounting for embedded conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for it. The ASU also simplifies the diluted earnings per share (EPS) calculation in certain areas. The amendments in this Update are effective for public business entities that meet the definition of a Securities and Exchange Commission (SEC) filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of ASU 2020-06 will have on the Company’s consolidated financial statements and related disclosures.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets
Schedule of changes to goodwill	Changes to goodwill during the nine months ended December 31, 2020 were as follows: Total Balance—March 31, 2020 $ 11,085,984 Impairment of goodwill in period 6,803,000 Balance—December 31, 2020 $ 4,282,984
Schedule of intangible assets	Intangible assets consist of the following at December 31, 2020 and March 31, 2020: Patents & Exclusive License Customer Non-Compete Assembled Agreement Trademark Relationships Agreement Workforce Total Useful Life 9.74 years Indefinite 10 years 2 years 1 year Gross carrying amount $ 1,306,031 $ 2,505,907 $ 1,431,680 $ 61,366 $ 275,720 $ 5,580,704 Impairment (316,388) (1,905,907) (857,298) — — (3,079,593) Accumulated amortization (589,512) — (574,382) (61,366) (275,720) (1,500,980) Balance—December 31, 2020 $ 400,131 $ 600,000 $ — $ — $ — $ 1,000,131 Patents & Exclusive License Customer Non-Compete Assembled Agreement Trademark Relationships Agreement Workforce Total Useful Life 9.74 years Indefinite 10 years 2 years 1 year Gross carrying amount $ 1,306,031 $ 2,505,907 $ 1,431,680 $ 61,366 $ 275,720 $ 5,580,704 Impairment (307,388) (1,605,907) (787,245) — — (2,700,540) Accumulated amortization (528,681) — (564,473) (61,366) (275,720) (1,430,240) Balance—March 31, 2020 $ 469,962 $ 900,000 $ 79,962 $ — $ — $ 1,449,924

Balance Sheet Accounts (Tables)

Balance Sheet Accounts (Tables)	9 Months Ended
	Dec. 31, 2020
Balance Sheet Accounts
Schedule of prepaid expenses	December 31, March 31, 2020 2020 Prepaid inventory $ 1,499,042 $ 1,450,024 Prepaid insurance 116,825 57,226 Other prepaid expenses 42,610 125,305 $ 1,658,477 $ 1,632,555
Schedule of components of equipment	December 31, 2020 March 31, 2020 Accumulated Accumulated Cost Depreciation Net Cost Depreciation Net Computers and electronics $ 303,337 $ 276,928 $ 26,409 $ 303,337 $ 264,520 $ 38,817 Furniture and fixtures 36,795 32,046 4,749 36,795 30,953 Demonstration equipment 135,543 68,809 66,734 135,543 37,662 Manufacturing equipment 88,742 86,977 1,765 88,742 86,688 Tools and parts 11,422 8,161 3,261 11,422 7,627 Assets under capital lease 68,453 66,151 2,302 68,453 62,698 $ 644,292 $ 539,072 $ 105,220 $ 644,292 $ 490,148 $ 154,144
Schedule of accrued expenses	December 31, March 31, 2020 2020 Accrued personnel costs $ 951,556 $ 591,380 Accrued director fees 647,629 325,129 Accrued commissions 5,800 30,523 Accrued professional fees 175,000 253,831 Accrued warranty costs 45,936 162,449 Accrued other 241,874 284,344 $ 2,067,795 $ 1,647,656

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Dec. 31, 2020
Inventories
Schedule of inventory	December 31, March 31, 2020 2020 Finished goods $ 839,552 $ 1,059,462

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Dec. 31, 2020
Stockholders' Equity
Schedule of share capital	December 31, 2020 March 31, 2020 Number of Number of shares $ shares $ Exchangeable Shares Balance beginning of period 117,683 $ 118 196,799 $ 197 Converted into common shares — — (79,116) (79) Balance at end of period 117,683 118 117,683 118 Common Shares Balance at beginning of the period 5,009,151 5,008 3,661,838 3,661 Shares issued to exchangeable shareholders — — 79,116 79 Shares issued on conversion of loans — — 1,268,191 1,268 Share consolidation rounding adjustment — — 6 — Balance at end of the period 5,009,151 5,008 5,009,151 5,008 Total Shares 5,126,834 $ 5,126 5,126,834 $ 5,126

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Dec. 31, 2020
Stock-Based Compensation
Schedule of of stock options grand using the Black-Scholes option pricing model	Nine Months Ended December 31, 2020 2019 Risk free interest rate 0.62 % 1.59 % Expected term 7 years 7 years Dividend yield — — Expected volatility 114 % 114 % Forfeiture rate 0 % 0 %

Warrants (Tables)

Warrants (Tables)	9 Months Ended
	Dec. 31, 2020
Warrants
Schedule of continuity schedule	The following is a continuity schedule of the Company’s common share purchase warrants: Weighted Average Number of Exercise Warrants Price Outstanding and exercisable, March 31, 2019 288,517 40.27 Expired (163,483) (38.91) Outstanding and exercisable, March 31, 2020 125,034 20.07 Expired (2,667) (37.50) Outstanding and exercisable December 31, 2020 122,367 19.69
Schedule of common share purchase warrants outstanding	The following is a summary of common share purchase warrants outstanding as of December 31, 2020. Exercise Number of Price ($) Warrants Expiry Date 90.00 15,658 March 31, 2023 9.375 64,025 August 14, 2022 9.375 42,684 March 31, 2022 122,367

Interim Condensed Consolidate_2

Interim Condensed Consolidated Financial Statements (Details) - USD ($)	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Interim Condensed Consolidated Financial Statements
Cash and cash equivalents	$ 895,697	$ 1,893,517	$ 2,269,747	$ 446,779
Retained Earnings (Accumulated Deficit)	(83,959,449)		(71,373,870)
Working Capital (Deficit) Surplus	3,600,000		$ 1,000,000
Comprehensive Income (Loss), Net of Tax	$ 12,600,000	$ 8,500,000

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details)	9 Months Ended
	Dec. 31, 2020USD ($)
Changes to goodwill
Balance-March 31, 2020	$ 11,085,984
Impairment of goodwill in period	6,803,000
Balance-December 31, 2020	$ 4,282,984

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Consist of Intangible Assets (Details) - USD ($)	3 Months Ended			9 Months Ended			12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Mar. 31, 2020
Gross carrying amount	$ 5,580,704	$ 5,580,704		$ 5,580,704			$ 5,580,704
Impairment		(2,700,540)		(3,079,593)
Accumulated amortization	(24,000)	(1,430,240)	$ (69,000)	(1,500,980)	$ (71,000)	$ (208,000)
Balance-December 31, 2020	1,000,131	1,449,924		1,000,131			$ 1,449,924
Balance-March 31, 2020				$ 1,449,924
Patents and Exclusive License Agreement [Member]
Useful life				9 years 8 months 27 days			9 years 8 months 27 days
Gross carrying amount	1,306,031	1,306,031		$ 1,306,031			$ 1,306,031
Impairment				(316,388)			(307,388)
Accumulated amortization				(589,512)			(528,681)
Balance-December 31, 2020	400,131	469,962		400,131			$ 469,962
Balance-March 31, 2020				469,962
Customer Relationships [Member]
Useful life							10 years
Gross carrying amount	1,431,680	1,431,680		1,431,680			$ 1,431,680
Impairment				(857,298)			(787,245)
Accumulated amortization				(574,382)			(564,473)
Balance-December 31, 2020		79,962					$ 79,962
Balance-March 31, 2020				$ 79,962
Non compete Agreement [Member]
Useful life				2 years			2 years
Gross carrying amount	61,366	61,366		$ 61,366			$ 61,366
Accumulated amortization				$ (61,366)			$ (61,366)
Assembled Workforce [Member]
Useful life				1 year			1 year
Gross carrying amount	275,720	275,720		$ 275,720			$ 275,720
Accumulated amortization				(275,720)			(275,720)
Trademark [Member]
Gross carrying amount	2,505,907	2,505,907		2,505,907			2,505,907
Impairment				(1,905,907)			(1,605,907)
Balance-December 31, 2020	$ 600,000	$ 900,000		600,000			$ 900,000
Balance-March 31, 2020				$ 900,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Details)	3 Months Ended			9 Months Ended
	Dec. 31, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Finite-Lived Intangible Assets [Line Items]
Impairment charges	$ 379,000
Carrying Value	11,100,000			$ 11,100,000
Write Down	6,800,000
Goodwill	4,282,984	$ 11,085,984		4,282,984
Amortization expense	$ 24,000	$ 1,430,240	$ 69,000	$ 1,500,980	$ 71,000	$ 208,000
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of intangible asset				1 year
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of intangible asset				10 years
Long-term growth rate
Finite-Lived Intangible Assets [Line Items]
Goodwill and indefinite lived intangible assets				3
Weighted average cost of capital (discount rate)
Finite-Lived Intangible Assets [Line Items]
Goodwill and indefinite lived intangible assets				27

Balance Sheet Accounts (Details

Balance Sheet Accounts (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Prepaid Expenses
Prepaid inventory	$ 1,499,042	$ 1,450,024
Prepaid insurance	116,825	57,226
Other prepaid expenses	42,610	125,305
Prepaid Expense, Total	$ 1,658,477	$ 1,632,555

Balance Sheet Accounts - Equipm

Balance Sheet Accounts - Equipment (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020
Equipment, Cost	$ 644,292		$ 644,292		$ 644,292
Accumulated Depreciation	539,072		539,072		490,148
Equipment, Net	105,220		105,220		154,144
Depreciation expense	15,000	$ 28,000	49,000	$ 79,000
Computers and electronics
Equipment, Cost	303,337		303,337		303,337
Accumulated Depreciation	276,928		276,928		264,520
Equipment, Net	26,409		26,409		38,817
Furniture and fixtures
Equipment, Cost	36,795		36,795		36,795
Accumulated Depreciation	32,046		32,046		30,953
Equipment, Net	4,749		4,749		5,842
Demonstration equipment
Equipment, Cost	135,543		135,543		135,543
Accumulated Depreciation	68,809		68,809		37,662
Equipment, Net	66,734		66,734		97,881
Manufacturing equipment
Equipment, Cost	88,742		88,742		88,742
Accumulated Depreciation	86,977		86,977		86,688
Equipment, Net	1,765		1,765		2,054
Tools and parts
Equipment, Cost	11,422		11,422		11,422
Accumulated Depreciation	8,161		8,161		7,627
Equipment, Net	3,261		3,261		3,795
Assets under capital lease
Equipment, Cost	68,453		68,453		68,453
Accumulated Depreciation	66,151		66,151		62,698
Equipment, Net	$ 2,302		$ 2,302		$ 5,755

Balance Sheet Accounts - Accrue

Balance Sheet Accounts - Accrued Expenses (Details) - USD ($)	9 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Balance Sheet Accounts
Accrued personnel costs	$ 951,556	$ 591,380
Accrued director fees	647,629	325,129
Accrued commissions	5,800	30,523
Accrued professional fees	175,000	253,831
Accrued warranty costs	45,936	162,449
Accrued other	241,874	284,344
Accrued Liabilities, Current, Total	$ 2,067,795	$ 1,647,656
Warranty term	1 year

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Inventories
Finished goods	$ 839,552	$ 1,059,462

Notes Payable (Details)

Notes Payable (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Proceeds from convertible loans			$ 1,502,575	$ 9,070,000
Interest expense	$ 79,183	$ 2,788	265,566	$ 172,485
Conversion price before December 31, 2019 [Member]
Debt Instrument [Line Items]
Debt Instrument, Convertible, Conversion Price		$ 8.55		$ 8.55
Conversion price after December 31, 2019 [Member]
Debt Instrument [Line Items]
Debt Instrument, Convertible, Conversion Price		$ 9.50		$ 9.50
Convertible Loans Payable [Member]
Debt Instrument [Line Items]
Proceeds from convertible loans			1,500,000
Convertible loans received	70,000		70,000
Maximum convertible note offering	7,000,000		7,000,000
Convertible note offering	$ 3,000,000		$ 3,000,000
Debt Instrument, Interest Rate, Stated Percentage	1.00%		1.00%
Discount Percentage On Offer Price			20.00%
Interest expense	$ 47,000		$ 104,000
Interest payable	$ 104,000		$ 104,000

Notes Payable - Short term loan

Notes Payable - Short term loan (Details) - USD ($)	Mar. 23, 2020	May 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Proceeds from short term loan					$ 0	$ 500,000
Interest expense			$ 79,183	$ 2,788	$ 265,566	$ 172,485
Promissory Note [Member]
Debt Instrument [Line Items]
Promissory Note signed		$ 459,912
Debt instrument bears interest per annum		1.00%
Interest deferment period		6 months
Repayment of long term loan period					2 years
Shareholder Loan [Member]
Debt Instrument [Line Items]
Proceeds from short term loan	$ 2,000,000
Consummation of minimum of equity or debt financing			5,000,000		$ 5,000,000
Interest payable			165,000		165,000
Interest expense			$ 60,000		$ 165,000
Shareholder Loan [Member] | Promissory Note [Member]
Debt Instrument [Line Items]
Interest rate per month	1.00%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Mar. 31, 2020
RELATED PARTY TRANSACTIONS AND BALANCES
Interest income	$ 300	$ 900
Chief Technology Officer [Member]
RELATED PARTY TRANSACTIONS AND BALANCES
Due from Related Parties	$ 20,000	$ 20,000	$ 18,000
Interest Rate On Loan	2.00%	2.00%	2.00%

Stockholders' Equity - Common s

Stockholders' Equity - Common shares issued (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Opening Balance	$ 13,316,975
Closing Balance	$ 1,450,444	$ 13,316,975
Exchangeable Shares [Member]
Opening Balance (in shares)	117,683	196,799
Opening Balance	$ 118	$ 197
Converted into common shares (in shares)	0	(79,116)
Converted into common shares (a)	$ 0	$ (79)
Closing Balance (in shares)	117,683	117,683
Closing Balance	$ 118	$ 118
Common Shares [Member]
Opening Balance (in shares)	5,009,151	3,661,838
Opening Balance	$ 5,008	$ 3,661
Shares issued to exchangeable shareholders (in shares)	0	79,116
Shares issued to exchangeable shareholders (a)	$ 0	$ 79
Shares issued on conversion of loans (in shares)	0	1,268,191
Shares issued on conversion of loans	$ 0	$ 1,268
Share consolidation rounding adjustment (in shares)	0	6
Share consolidation rounding adjustment (f)	$ 0	$ 0
Closing Balance (in shares)	5,009,151	5,009,151
Closing Balance	$ 5,008	$ 5,008
Common Shares And Exchangeable Shares [Member]
Opening Balance (in shares)	5,126,834
Opening Balance	$ 5,126
Closing Balance (in shares)	5,126,834	5,126,834
Closing Balance	$ 5,126	$ 5,126

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - shares	Dec. 31, 2020	Oct. 04, 2020	Mar. 31, 2020
Stockholders' Equity
Common Stock, Shares Authorized	13,000,000	500,000,000	500,000,000
Preferred Stock, Shares Authorized	5,000,000	10,000,000	10,000,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Stock-Based Compensation
Allocated Share-based Compensation Expense	$ 99,000	$ 447,000	$ 719,000	$ 1,400,000
Weighted-average grant date fair value			$ 1.05	$ 3.05
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate			0.62%	1.59%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term			7 years	7 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Dividend yield			0.00%	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate			114.00%	114.00%
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate			0.00%	0.00%
Minimum [Member]
Stock-Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			1 year
Vesting period			1 year
Maximum [Member]
Stock-Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			5 years
Vesting period			5 years
Performance Based Units (PSUs) [Member]
Stock-Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			96,466
Weighted-average grant date fair value			$ 3.15
Unrecognized compensation expense	$ 595,000		$ 595,000
Expects to recognize over weighted-average period			1 year 11 months 9 days
Employees of Bionik Inc [Member]
Stock-Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			76,902	221,838
Non Employees [Member]
Stock-Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			0	341,190

Warrants - Summary of continuit

Warrants - Summary of continuity schedule (Details) - $ / shares	9 Months Ended	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Warrants
Number of Warrants, Outstanding and exercisable, Beginning balance	125,034	288,517
Weighted-Average Exercise Price, Outstanding and exercisable, Beginning balance	$ 20.07	$ 40.27
Number of Warrants, Expired	(2,667)	(163,483)
Weighted-Average Exercise Price, Expired	$ (37.50)	$ (38.91)
Number of Warrants, Outstanding and exercisable, Ending balance	122,367	125,034
Weighted-Average Exercise Price, Outstanding and exercisable, Ending balance	$ 19.69	$ 20.07

Warrants - Summary of common sh

Warrants - Summary of common share purchase warrants outstanding (Details)	9 Months Ended
	Dec. 31, 2020$ / sharesshares
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Number of Warrants	122,367
Warrant One [Member]
Class of Warrant or Right [Line Items]
Warrant exercise price | $ / shares	$ 90
Class of Warrant or Right, Number of Warrants	15,658
Class Of Warrant Or Right Expiry Date	Mar. 31, 2023
Warrant Two [Member]
Class of Warrant or Right [Line Items]
Warrant exercise price | $ / shares	$ 9.375
Class of Warrant or Right, Number of Warrants	64,025
Class Of Warrant Or Right Expiry Date	Aug. 14, 2022
Warrant Three [Member]
Class of Warrant or Right [Line Items]
Warrant exercise price | $ / shares	$ 9.375
Class of Warrant or Right, Number of Warrants	42,684
Class Of Warrant Or Right Expiry Date	Mar. 31, 2022

Warrants - Additional Informati

Warrants - Additional Information (Details)	9 Months Ended
	Dec. 31, 2020
Warrants
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms	1 year 6 months 26 days

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Feb. 25, 2015	Dec. 31, 2020
Stock Issued During Period, Shares, New Issues	1,753
Stock Issued During Period, Value, New Issues	$ 210,323
Loan received and repaid	$ 241,185
Percentage of Royalty on Sales		1.00%
Former Chief Technology Officer And New Chief Technology Officer [Member]
Stock Transferred To Lenders	2,098
Stock to be Reimbursed to Officers	2,134