Cover Page
Cover Page | 12 Months Ended |
Nov. 30, 2021shares | |
Document Information [Line Items] | |
Document Type | 40-F |
Amendment Flag | false |
Document Period End Date | Nov. 30, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | Theratechnologies Inc. |
Entity Central Index Key | 0001512717 |
Entity Current Reporting Status | Yes |
Entity Emerging Growth Company | true |
Current Fiscal Year End Date | --11-30 |
Document Registration Statement | false |
Document Annual Report | true |
Entity Common Stock, Shares Outstanding | 95,121,639 |
Title of 12(b) Security | Common Shares |
Entity Interactive Data Current | Yes |
Entity Ex Transition Period | false |
Trading Symbol | THTX |
Security Exchange Name | NASDAQ |
ICFR Auditor Attestation Flag | false |
Entity File Number | 001-35203 |
Entity Incorporation, State or Country Code | A8 |
Entity Tax Identification Number | 98-0618426 |
Entity Address, Address Line One | 2015 Peel Street |
Entity Address, Address Line Two | 11th Floor |
Entity Address, City or Town | Montreal |
Entity Address, State or Province | QC |
Entity Address, Country | CA |
Entity Address, Postal Zip Code | H3A 1T8 |
City Area Code | 514 |
Local Phone Number | 336-7800 |
Annual Information Form | true |
Audited Annual Financial Statements | true |
Auditor Name | KPMG LLP |
Auditor Firm ID | 85 |
Auditor Location | Montreal, Canada |
Business Contact [Member] | |
Document Information [Line Items] | |
Contact Personnel Name | CT Corporation System |
Entity Address, Address Line One | 28 Liberty Street |
Entity Address, City or Town | New York |
Entity Address, State or Province | NY |
Entity Address, Postal Zip Code | 10005 |
City Area Code | 212 |
Local Phone Number | 894-8940 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Current assets | ||
Cash | $ 20,399 | $ 12,737 |
Bonds and money market funds | 19,955 | 8,031 |
Trade and other receivables | 10,487 | 12,430 |
Tax credits and grants receivable | 441 | 755 |
Inventories | 29,141 | 25,145 |
Prepaid expenses and deposits | 10,745 | 5,189 |
Derivative financial assets | 740 | 520 |
Total current assets | 91,908 | 64,807 |
Non-current assets | ||
Property and equipment | 743 | 865 |
Right-of-use-assets | 2,111 | 2,618 |
Intangible assets | 21,388 | 24,529 |
Deferred financing costs | 621 | 0 |
Other asset | 2,441 | 7,323 |
Total non-current assets | 27,304 | 35,335 |
Total assets | 119,212 | 100,142 |
Current liabilities | ||
Accounts payable and accrued liabilities | 40,376 | 34,815 |
Provisions | 4,123 | 1,947 |
Other obligations | 0 | 4,666 |
Current portion of lease liabilities | 463 | 425 |
Income taxes payable | 60 | 16 |
Deferred revenue | 54 | 50 |
Total current liabilities | 45,076 | 41,919 |
Non-current liabilities | ||
Convertible unsecured senior notes | 54,227 | 52,403 |
Lease liabilities | 2,055 | 2,555 |
Other liabilities | 94 | 41 |
Total non-current liabilities | 56,376 | 54,999 |
Total liabilities | 101,452 | 96,918 |
Equity | ||
Share capital and warrants | 335,752 | 287,312 |
Equity component of convertible unsecured senior notes | 4,457 | 4,457 |
Contributed surplus | 12,843 | 12,065 |
Deficit | (335,248) | (300,129) |
Accumulated other comprehensive loss | (44) | (481) |
Total equity | 17,760 | 3,224 |
Total liabilities and equity | $ 119,212 | $ 100,142 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Statement of comprehensive income [abstract] | ||
Revenue | $ 69,823 | $ 66,053 |
Operating expenses | ||
Cost of goods sold | 18,378 | 20,970 |
Other production-related costs | 0 | 1,051 |
Amortization of other asset | 4,882 | 4,881 |
Research and development expenses net of tax credits of $277 (2020 – $296) | 28,274 | 18,019 |
Selling expenses | 28,909 | 26,859 |
General and administrative expenses | 14,616 | 12,230 |
Total operating expenses | 95,059 | 84,010 |
Loss from operating activities | (25,236) | (17,957) |
Finance income | 195 | 717 |
Finance costs | (6,621) | (5,411) |
Finance income cost | (6,426) | (4,694) |
Loss before income taxes | (31,662) | (22,651) |
Income taxes | (63) | (16) |
Net loss | (31,725) | (22,667) |
Items that may be reclassified to net profit (loss) in the future | ||
Net change in fair value of financial assets at fair value through other comprehensive income (FVOCI) | (197) | 14 |
Exchange differences on translation of foreign operations | 634 | (516) |
Other comprehensive income that will be reclassified to profit or loss, net of tax | 437 | (502) |
Total comprehensive loss | $ (31,288) | $ (23,169) |
Loss per share | ||
Basic and diluted | $ (0.34) | $ (0.29) |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Statement of comprehensive income [abstract] | ||
Other Comprehensive Income Net Of Tax Research and Development Cost | $ 277 | $ 296 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) $ in Thousands | Total | Share capital and warrants | Equity component of convertible unsecured senior notes | Contributed surplus | Deficit | Accumulated other comprehensive income (loss) |
Beginning balance at Nov. 30, 2019 | $ 24,834 | $ 287,035 | $ 4,457 | $ 10,783 | $ (277,462) | $ 21 |
Beginning balance, Shares at Nov. 30, 2019 | 76,953,411 | |||||
Total comprehensive loss | ||||||
Net loss | (22,667) | (22,667) | ||||
Other comprehensive income | ||||||
Net change in fair value of FVOCI financial assets | 14 | 14 | ||||
Exchange differences on translation of foreign operations | (516) | (516) | ||||
Total comprehensive loss | (23,169) | (22,667) | (502) | |||
Share-based compensation plan | ||||||
Share-based compensation for stock option plan | 1,414 | 1,414 | ||||
Exercise of stock options | ||||||
Monetary consideration | 145 | $ 145 | ||||
Monetary consideration Shares | 60,000 | |||||
Attributed value | $ 132 | (132) | ||||
Total contributions by owners | 1,559 | $ 277 | 1,282 | |||
Total contributions by owners shares | 60,000 | |||||
Ending Balance at Nov. 30, 2020 | 3,224 | $ 287,312 | 4,457 | 12,065 | (300,129) | (481) |
Ending Balance, Shares at Nov. 30, 2020 | 77,013,411 | |||||
Total comprehensive loss | ||||||
Net loss | (31,725) | (31,725) | ||||
Other comprehensive income | ||||||
Net change in fair value of FVOCI financial assets | (197) | (197) | ||||
Exchange differences on translation of foreign operations | 634 | 634 | ||||
Total comprehensive loss | (31,288) | (31,725) | 437 | |||
Transactions with owners, recorded directly in equity | ||||||
Public issue of common shares and warrants | 46,002 | $ 46,002 | ||||
Public issue of common shares and warrants (Shares) | 16,727,900 | |||||
Share issue costs | (3,394) | (3,394) | ||||
Exercise of warrants (Shares) | 233,400 | |||||
Exercise of warrants | 742 | $ 742 | ||||
Share issue – Oncology | $ 668 | (668) | ||||
Share issue – Oncology (Shares) | 481,928 | |||||
Share-based compensation plan | ||||||
Share-based compensation for stock option plan | 1,879 | 1,879 | ||||
Exercise of stock options | ||||||
Monetary consideration | 595 | $ 595 | ||||
Monetary consideration Shares | 665,000 | |||||
Attributed value | $ 433 | (433) | ||||
Total contributions by owners | 45,824 | $ 48,440 | 778 | (3,394) | ||
Total contributions by owners shares | 18,108,228 | |||||
Ending Balance at Nov. 30, 2021 | $ 17,760 | $ 335,752 | $ 4,457 | $ 12,843 | $ (335,248) | $ (44) |
Ending Balance, Shares at Nov. 30, 2021 | 95,121,639 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Cash flows from (used in) Operating | ||
Net loss | $ (31,725) | $ (22,667) |
Adjustments for | ||
Depreciation of property and equipment | 237 | 247 |
Amortization of intangible assets and other asset | 8,062 | 7,832 |
Amortization of right-of-use assets | 449 | 441 |
Share-based compensation for stock option plan and stock appreciation rights | 1,932 | 1,427 |
(Reversal) write-down of inventories | (30) | 917 |
Change in fair value of derivative financial assets | (212) | 166 |
Change in fair value of liability related to deferred stock unit plan | 209 | (157) |
Interest on convertible unsecured senior notes | 3,306 | 3,306 |
Interest income | (195) | (299) |
Foreign exchange | 890 | (549) |
Accretion expense | 2,358 | 2,056 |
Cash flows from (used in) operations before changes in working capital | (14,719) | (7,280) |
Change in operating assets and liabilities | ||
Trade and other receivables | 1,852 | (2,253) |
Tax credits and grants receivable | 323 | (749) |
Inventories | (4,187) | (4,872) |
Prepaid expenses and deposits | (5,569) | (1,297) |
Accounts payable and accrued liabilities | 5,549 | 3,438 |
Provisions | 2,226 | (537) |
Income taxes payable | 44 | 16 |
Deferred revenue | 4 | (20) |
Increase (decrease) in working capital | 242 | (6,274) |
Total cash used in operating activities | (14,477) | (13,554) |
Financing activities | ||
Repayment of long-term obligations | (5,000) | (3,500) |
Proceeds from exercise of stock options | 595 | 145 |
Proceeds from exercise of warrants | 742 | |
Proceeds from issue of common shares and warrants | 46,002 | |
Share issue costs | 3,394 | |
Interest paid on convertible unsecured senior notes | (3,306) | (3,306) |
Deferred financing costs | 447 | |
Payment of lease liability | (635) | (568) |
Total cash from (used in) financing activities | 34,557 | (7,229) |
Investing activities | ||
Acquisition of intangible assets | (39) | |
Acquisition of property and equipment | (127) | (32) |
Proceeds from sale of bonds and money market funds | 640 | 4,506 |
Acquisition of bonds and money market funds | (12,756) | (59) |
Interest received | (172) | 401 |
Acquisition of derivative financial assets | 0 | (40) |
Total cash from (used in) investing activities | (12,454) | 4,776 |
Net change in cash | 7,626 | (16,007) |
Cash, beginning of year | 12,737 | 28,661 |
Effect of foreign exchange on cash | 36 | 83 |
Cash, end of year | $ 20,399 | $ 12,737 |
Basis of preparation
Basis of preparation | 12 Months Ended |
Nov. 30, 2021 | |
Text Block [Abstract] | |
Basis of preparation | 1. Basis of preparation Statement of compliance The consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements were authorized for issue by the Board of Directors on February 23, 2022. Basis of measurement The Company’s consolidated financial statements have been prepared on a going concern and historical cost basis, except for: ● bonds and money market funds, which are measured at fair value, ● derivative financial assets, which are measured at fair value, ● liabilities related to cash-settled share-based ● lease liabilities which are measured at present value of lease payments not paid at commencement date, ● equity-classified share-based Share -based The methods used to measure fair value are discussed further in Note 26. Functional and presentation currency The Company’s functional currency is the United States dollar (“US$”). All financial information presented in US$ has been rounded to the nearest thousand. Use of estimates and judgments The preparation of the Company’s consolidated financial statements in conformity with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting year. Judgments in applying accounting policies Information about critical judgments in applying accounting policies and assumptions that have the most significant effect on the amounts recognized in the consolidated financial statements is noted below. Milestone payments related to Trogarzo ® The commercialization rights related to Trogarzo ® cash-based Contingent consideration related to oncology platform The purchase consideration for the oncology platform (Note 1 3 share-based Convertible senior unsecured notes The determination of the fair value of the liability component of a convertible instrument was at time of issuance based on the estimated interest rate that the Company could obtain for a similar debt instrument without a conversion option. Key sources of estimation uncertainty Key sources of estimation uncertainty that have a significant risk of resulting in a material adjustment to the carrying amount of assets and liabilities within the next financial year are as follows: Sales allowances Management uses judgment in estimating provisions for sale allowances such as cash discounts, returns, rebates and chargebacks, including potential clawbacks in certain jurisdictions when pricing terms are based on temporary use authorisations and thus subject to future negotiation. The product revenue recognized quarter over quarter is net of these estimated allowances. Such estimates require the need to make estimates about matters that are inherently uncertain. The Company’s estimates are based on our historical claims as supplemented by management’s judgment (see Notes 2 (Revenue recognition) and 3 for additional information). Other Other areas of judgment and uncertainty are related to the estimation of accruals for clinical trial expenses, the recoverability of inventories from the effects of technological changes or new product introductions, the measurement and recoverability of intangible assets, the measurement of derivative financial assets, and the measurement of share-based Reported amounts and note disclosures reflect the overall economic conditions that are most likely to occur and the anticipated measures management intends to take. Actual results could differ from those estimates. The above estimates and assumptions are reviewed regularly. Revisions to accounting estimates are recognized in the year in which the estimates are revised and in any future years affected. COVID-19 The COVID-19 (COVID-19) principally under the Canadian Emergency Wage Subsidy program. These subsidies were recorded as a reduction in the associated personnel costs which the Company incurred, and were recognized in research and development, selling and general and administrative expenses. Given the prolonged pandemic, it is not clear what the potential impact may be on the Company’s business, financial position and financial performance. |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Nov. 30, 2021 | |
Text Block [Abstract] | |
Significant accounting policies | 2. Significant accounting policies The accounting policies have been applied consistently by the Company, except as otherwise noted for the initial application of new or amended accounting standards. Basis of consolidation The financial statements of the subsidiaries of the Company are included in the consolidated financial statements from the date on which control commences until the date on which control ceases. Subsidiaries are entities controlled by the Company. Control is present where the Company has the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. In assessing control, potential voting rights that are currently exercisable are taken into consideration. The accounting policies of subsidiaries are changed when necessary to align them with the policies adopted by the Company. Intercompany balances and transactions, revenues and expenses resulting from transactions between subsidiaries and with the Company are eliminated in preparing the consolidated financial statements. Foreign currencies Transactions in foreign currencies are translated to the functional currency at exchange rates in effect at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency at the exchange rate in effect at that date. The foreign currency gain or loss on monetary items is the difference between amortized cost in the functional currency at the beginning of the reporting year, adjusted for effective interest and payments during the reporting year, and the amortized cost in foreign currency translated at the exchange rate in effect at the end of the reporting year. Non-monetary Non-monetary Foreign operations The assets and liabilities of foreign operations whose functional currency is not the US$ are translated into US$ at the reporting date. The income and expenses of foreign-currency Revenue recognition Revenue from contracts with customers – Net sales The Company derives revenue from the sales of finished goods, which include Trogarzo ® SV ® Some arrangements for the sale of finished goods provide for customer cash discounts for prompt payment, allowances, rights of return, rebates on sales made under governmental and commercial rebate programs, chargebacks on sales made to government agencies and retail pharmacies and distribution fees, including potential clawbacks in certain jurisdictions when pricing terms are based on temporary use authorisations and thus subject to future negotiation, which gives rise to variable consideration. At the time of sale, estimates are made for items giving rise to variable consideration based on the terms of the arrangement. The variable consideration is estimated at contract inception using the most likely amount method and revenue is only recognized to the extent that a significant reversal of revenue is not expected to occur. The estimate is based on historical experience, current trends, contractual terms with distributors and other known factors. Sales are recorded net of customer discounts, rebates, chargebacks, distribution fees and estimated sales returns, and exclude sales taxes. A refund liability and a right to recover returned goods asset are recognized for expected returns in relation to sales made before the end of the reporting period. The right to recover returned goods asset is measured at the former carrying amount of the inventory less any expected costs to recover goods. The Company reviews its estimate of variable consideration, including expected returns, on a quarterly basis, adjusting for the amounts of the asset and liability accordingly. Cost of sales Cost of goods sold Cost of goods sold includes the cost of raw materials, supplies, direct labour and overhead charges allocated to goods sold. Other production-related costs Other production-related costs include unallocated indirect costs related to production as well as write-downs Amortization of the other asset The amortization of the other asset relates to the repurchase of the future royalty rights under the 2013 Termination Agreement (Note 1 4 Employee benefits Salaries and short-term Salaries and short-term short-term profit-sharing Post-employment Post-employment Termination benefits Termination benefits are recognized as an expense when the Company is committed demonstrably, without realistic possibility of withdrawal, to a formal detailed plan to either terminate employment before the normal retirement date or to provide termination benefits as a result of an offer made to encourage voluntary redundancy. Finance income and finance costs Finance income comprises interest income on financial assets and gains on the disposal of financial assets. Interest income is recognized as it accrues in net loss using the effective interest method. Finance costs comprise bank charges, interest and accretion expense on convertible unsecured senior notes and long-term long-term Inventories Inventories are presented at the lower of cost, determined using the first-in, first-out Work in progress inventory appears from the moment third party suppliers use the material provided by the Company until the time the Company receives the finished product. The value of work in progress inventory is equal to the value of material provided by the Company plus all conversion work performed by third party suppliers. Property and equipment Recognition and measurement Items of property and equipment are recognized at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditures that are directly attributable to the acquisition of the asset and the costs of dismantling and removing the item and restoring the site on which it is located, if any. Construction in progress assets are capitalized during construction and depreciation commences when the asset is available for use. When parts of an item of property and equipment have different useful lives, they are accounted for as separate items (major components) of property and equipment. Gains and losses on disposal of an item of property and equipment are determined by comparing the proceeds from disposal with the carrying amount of property and equipment and are recognized in net profit or loss. Subsequent costs The cost of replacing a part of an item of property and equipment is recognized in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Company and its cost can be measured reliably. The carrying amount of the replaced part is derecognized. The costs of the day-to-day Depreciation The methods of depreciation and depreciation rates and periods are as follows: Asset Method Rate/period Computer equipment Declining balance 50% Laboratory equipment Declining balan 20% and straight-line 5 years Office furniture and equipment Declining balance 20% Leasehold improvements Straight-line Lower of lease term The method of depreciation is selected based on the most closely expected pattern of consumption of the future economic benefits embodied in the asset. Estimates for depreciation methods, useful lives and residual values are reviewed at each year-end Intangible assets Research and development Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is expensed as incurred. Development activities involve a plan or design for the production of new or substantially improved products and processes. A development expenditure is capitalized only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Company intends to and has sufficient resources to complete development and to use or sell the asset. These criteria are usually met when a regulatory filing has been made in a major market and approval is considered highly probable. The expenditure capitalized includes the cost of materials, direct labour, and overhead costs that are directly attributable to preparing the asset for its intended use. Other development expenditures are expensed as incurred. Capitalized development expenditures are measured at cost less accumulated amortization and accumulated impairment losses. During the years ended November 30, 2021 and 2020, no development expenditures were capitalized. Commercialization rights and oncology platform Commercialization rights and the oncology platform acquired by the Company have finite useful lives and are measured at cost less accumulated amortization and any accumulated impairment losses. Subsequent changes in the cash-based EGRIFTA SV ® f 111 months on a Commercialization rights – Trogarzo ® of months on a straight-line ® straight-line The amortization method and useful life of intangible assets are reviewed every year and adjusted as required. Other asset Other asset, which comprises the amount disbursed in connection with the repurchase of the future royalty rights under the 2013 Termination Agreement (Note 13), is amortized over its estimated useful life of 48 months. Impairment of non-financial The carrying amounts of the Company’s non-financial For the purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of cash inflows from other assets or groups of assets (“cash-generating cash-generating pre-tax cash-generating Financial instruments The Company initially recognizes financial assets on the trade date at which the Company becomes a party to the contractual provisions of the instrument. Financial assets are initially measured at fair value. If the financial asset is not subsequently accounted for at fair value through profit or loss, then the initial measurement includes transaction costs that are directly attributable to the asset’s acquisition or issue. On initial recognition, the Company classifies its financial assets as measured at amortized cost, FVOCI or fair value through profit or loss (“FVPL”), depending on its business model for managing the financial assets and the contractual cash flow characteristics of the financial assets. (i) Financial assets measured at amortized cost A financial asset is measured at amortized cost, using the effective interest method and net of any impairment loss, if it meets both of the following conditions and is not designated at fair value though profit or loss: ● it is held within a business model whose objective is to hold assets to collect contractual cash flows; and ● its contractual terms give rise, on specified dates, to cash flows that are solely payments of principal and interest on the principal amount outstanding. The Company currently classifies its cash and trade and other receivables as financial assets measured at amortized cost. (ii) Financial assets, measured at fair value through other comprehensive income A debt investment is measured at fair value through other comprehensive income if it meets both of the following conditions and is not designated at fair value through profit or loss: ● its contractual terms give rise, on specified dates, to cash flows that are solely payments of principal and interest on the principal amount outstanding. These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, foreign exchange gains and losses and impairment are recognized in profit or loss. Other net gains and losses are recognized in other comprehensive income (loss). When an investment is derecognized, gains or losses accumulated in other comprehensive income (loss) are reclassified to profit or loss. (ii) Financial assets, measured at fair value through other comprehensive income (continued) On initial recognition of an equity investment that is not held for trading, the Company may irrevocably elect to present subsequent changes in the investment’s fair value in other comprehensive income (loss). This election is made on an investment-by-investment part of the cost of the investment, and other net gains and losses are recognized in other comprehensive income (loss) and are never reclassified in profit or loss. The Company currently classifies its bonds as financial assets measured at FVOCI. (iii) Financial assets measured at fair value through profit or loss All financial assets not classified as measured at amortized cost or FVOCI as described above are measured at FVPL. These assets are subsequently measured at fair value and changes therein, including any interest or dividend income, are recognized in profit or loss. The Company currently classifies its money market funds and non-hedge The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. (iv) Financial liabilities Financial liabilities are classified into the following categories: ● A financial liability is classified at fair value through profit or loss if it is classified as held-for-trading, ● This category includes all financial liabilities, other than those measured at FVPL. A financial liability is subsequently measured at amortized cost using the effective interest method. The Company currently classifies accounts payable and accrued liabilities, convertible unsecured senior notes and long-term (iv) Financial liabilities (continued) The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled or expired. (v) Compound financial instruments Compound financial instruments are instruments that contain both a liability component and an equity component, and the liability component can be converted into share capital at the option of the holder and the number of shares to be issued does not vary with changes in their fair value. The liability component of a compound financial instrument is recognized initially at the fair value of a similar liability that does not have an equity conversation option. The equity component is recognized initially as the difference between the fair value of the compound financial instrument as a whole and the fair value of the liability component. Any directly attributable transaction costs are allocated to the liability and equity components in proportion to their initial carrying amounts. (vi) Derivative financial instruments Derivative financial instruments are recorded as either assets or liabilities measured at their fair value unless exempted from derivative treatment as a normal purchase and sale. Certain derivatives embedded in other contracts must also be measured at fair value. The changes in the fair value of derivatives are recognized through profit or loss in the year in which they occur. (vii) Offsetting of financial instruments Financial assets and financial liabilities are offset and the net amount presented in the consolidated statement of financial position when, and only when, the Company has a legal right to set off the amounts and intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. At each reporting date, the Company recognizes loss allowances for expected credit losses (“ECLs”) on financial assets carried at amortized cost and debt securities at FVOCI. The Company’s trade and other receivables are accounts receivable with no financing component and which have maturities of less than 12 months and, as such, the Company has chosen to apply the simplified approach for ECL. As a result, the Company does not track changes in credit risk related to its trade and other receivables, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. (viii) Impairment of financial assets For other financial assets subject to impairment, the Company measures loss allowances at an amount equal to lifetime ECLs, except for the following, which are measured at 12-month ● debt securities that are determined to have low credit risk at the reporting date; and ● other debt securities and bank balances for which credit risk (i.e. the risk of default occurring over the expected life of the financial instrument) has not increased significantly since initial recognition. The Company considers a debt security to have a low credit risk when its credit risk rating is equivalent or above investment grade credit rating, such as its bonds classified at FVOCI. The Company’s approach to ECLs reflects a probability-weighted Leases At inception, the Company assesses whether a contract is, or contains, a lease based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company recognizes a right-of-use Right -of -use Right-of-use right-of-use ● the initial measurement amount of the lease liabilities recognized; ● any lease payments made at or before the commencement date, less any lease incentives received; ● any initial direct costs incurred; and ● an estimate of costs to dismantle and remove the underlying asset, restore the site on which it is located or restore the underlying asset to the condition required by the terms and conditions of the lease contract. Right-of-use straight-line Right-of-use right-of-use Lease liabilities Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date over the lease term. The present value of the lease payments is determined using the lessee’s incremental borrowing rate at the commencement date if the interest rate implicit in the lease is not readily determinable. The incremental borrowing rate is a function of the lessee’s incremental borrowing rate, the nature of the underlying asset, the location of the asset, the length of the lease and the currency of the lease contract. Generally, the Company uses the lessee’s incremental borrowing rate for the present value. At the commencement date, lease payments generally include fixed payments, less any lease incentives receivable, variable lease payments that depend on an index (e.g. based on inflation index) or a specified rate, and payments of penalties for terminating the lease, if the lease term reflects the lessee exercising the option to terminate the lease. Lease payments also include amounts expected to be paid under residual value guarantees and the exercise price of a purchase option if the Company is reasonably certain to exercise that option. Variable lease payments that do not depend on an index or a specified rate are not included in the measurement of lease liabilities but instead are recognized as expenses in the period in which the event or condition that triggers the payment occurs. After the commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest and reduced to reflect lease payments made. In addition, the carrying amount of lease liabilities is remeasured when there is a change in future lease payments arising from a change in an index or specified rate, if there is a modification to the lease terms and conditions, a change in the estimate of the amount expected to be payable under residual value guarantee, or if the Company changes its assessment of whether it will exercise a termination, extension or purchase option. The remeasurement amount of the lease liabilities is recognized as an adjustment to the right-of-use right-of-use Classification and presentation of lease -related Amortization charge for right-of-use Deferred Financing Costs Deferred Financing Costs consists of fees charged by underwriters, attorneys, accountants, and other fees directly attributable to future issuances of shares. Provided these costs are determined to be recoverable, these costs are deferred and charged subsequently against the gross proceeds of the related equity transaction on a proportionate basis when it occurs. If at such time, the Company deems that these costs are no longer recoverable, they will be expensed as a component of finance expenses. Provisions A provision is recognized if, as a result of a past event, the Company has a present legal or constructive obligation that can be estimated reliably and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are assessed by discounting the expected future cash flows at a pre-tax Chargebacks and rebates Chargebacks and rebates are estimated based on historical experience, relevant statutes with respect to governmental pricing programs, and contractual sales terms. Returns Provisions for returns are estimated based on historical return levels, taking into account additional available information on contract changes. The Company reviews its methodology and adequacy of the provision for returns on a quarterly basis, adjusting for changes in assumptions, historical results and business practices, as necessary. Contingent liability A contingent liability is a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence Income taxes Income tax expense comprises current and deferred taxes. Current tax and deferred tax are recognized in net loss except to the extent that they relate to items recognized directly in other comprehensive income (loss) or in equity. Current tax Current tax is the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to tax payable in respect of previous years. The Company establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. Deferred tax Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes and deferred tax losses that can be used against taxable profit in future years. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse and to fiscal losses when they will be used, based on the laws that have been enacted or substantively enacted by the reporting date. A deferred tax liability is generally recognized for all taxable temporary differences. A deferred tax asset is recognized for unused tax losses and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be used. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. Deferred income tax is not recognized for the following temporary differences: the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting or taxable profit or loss at the time of the transaction, and, where the timing of the reversal of the temporary difference is controlled by the Company and it is probable that the temporary difference will not reverse in the foreseeable future. In addition, deferred tax is not recognized for taxable temporary differences arising from the initial recognition of goodwill. Share-based Share option plan The Company records share-based fair-value-based Black-Scholes Share-based equity-settled share-based Deferred stock unit plan The deferred stock units (“DSUs”) are totally vested on the date of grant and are settled in cash. When DSUs are granted to officers as part of their annual bonuses, a DSU liability is recorded on the date of grant at the market value of the common shares in place of the liability for the bonus payments. In the case of the directors, the expense related to DSUs and their liabilities are recognized on the date of grant. The liability is adjusted to reflect any change in the market value of common shares, and such change is recorded in finance costs. Cash-settled The stock appreciation rights (“SARs”) entitle the grantee to a cash payment based on the increase in the share price of the Company’s common shares from the grant date to the settlement date. A liability is recognized for the services acquired and is recorded at the fair value of the SARs in other non-current Black-Scholes Estimating fair value requires determining the most appropriate inputs to the valuation model including the expected life of the SARs, volatility, risk-free Government assistance Government grants are recognized only when the Company has reasonable assurance that it meets the conditions and will receive the grants. Government grants related to assets are recognized in the consolidated statement of financial position as a deduction from the carrying amount of the related asset. They are then recognized in profit or loss over the estimated useful life of the amortization asset that the grants were used to acquire, as a deduction from the amortization expense. Other government grants are recognized in profit or loss as a deduction from the related expenses, such as salaries for the Canadian Emergency Wage Subsidy program. Research and development tax credits The Company elected to account for non-refundable Accounting for Government Grants and Disclosure of Governmental Assistanc e Non-re fundable Share capital Common shares Common shares are classified as equity. Transaction costs Costs directly attributable to the issue of common shares are recognized in equity, net of any tax effects. Earnings per share The Company presents basic and diluted earnings per share (“EPS”) data for its common shares. Basic EPS is calculated by dividing the net profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the year. Diluted EPS is determined by adjusting the profit or loss attributable to common shareholders by taking the weighted average number of common shares outstanding and taking into consideration all dilutive potential common shares, which consist of the outstanding stock options and convertible unsecured senior notes. Standards issued but not yet effective A number of new standards are effective for annual periods beginning after December 1, 2021 and earlier application is permitted; however, the Company has not early adopted the new or amended standards in preparing these consolidated financial statements. Onerous contracts – Cost of Fulfilling a Contract (Amendments to IAS 37) The amendments specify which costs an entity includes in determining the cost of fulfilling a contract for the purpose of assessing whether the contract is onerous. The amendments apply for annual reporting periods beginning on or after January 1, 2022 to contracts existing at the date when the amendments are first applied. At the date of initial application, the cumulative effect of applying the amendments is recognised as an opening balance adjustment to retained earnings or other components of equity, as appropriate. The comparatives are not restated. The Company is currently evaluating the impact of the amendments on its financial statements. |
Revenue
Revenue | 12 Months Ended |
Nov. 30, 2021 | |
Text Block [Abstract] | |
Revenue | 3. Revenue United States On May 12, 2014, the Company entered into a master services agreement with RxC Acquisition Company (“RxCrossroads”), along with two statements of work (“RxCrossroads Agreements”). Under the terms of the RxCrossroads Agreements, RxCrossroads acts as the Company’s exclusive third-party Under the RxCrossroads Agreements, RxCrossroads also acts as the Company’s exclusive third-party EGRIFTA SV ® EGRIFTA SV ® EGRIFTA SV ® EGRIFTA SV ® EGRIFTA SV ® On November 1, 2017, the Company entered into amended and restated RxCrossroads Agreements to add Trogarzo ® ® Canada The Company commercializes EGRIFTA ® Europe On July 9, 2020, the Company entered into pre-wholesaling ® ® Net sales by product were as follows: 2021 2020 EGRIFTA ® ® $ 43,009 $ 35,399 Trogarzo ® 26,814 30,654 $ 69,823 $ 66,053 Net sales by geography were as follows: 2021 2020 Canada $ 269 $ 354 United States 68,099 65,455 Europe 1,455 244 $ 69,823 $ 66,053 |
Personnel expenses
Personnel expenses | 12 Months Ended |
Nov. 30, 2021 | |
Text Block [Abstract] | |
Personnel expenses | 4. Personnel expenses Note 2021 2020 Salaries and short-term $ 11,480 $ 7,564 Post-employment 644 458 Share-based 21(e),(g) 1,651 1,297 Termination benefits 209 876 $ 13,984 $ 10,195 |
Finance income and finance cost
Finance income and finance costs | 12 Months Ended |
Nov. 30, 2021 | |
Text Block [Abstract] | |
Finance income and finance costs | 5. Finance income and finance costs Note 2021 2020 Net foreign currency gain $ - $ 418 Interest income 195 299 Finance income 195 717 Accretion expense 17, 18, 19 (2,358) (2,056) Interest on convertible unsecured senior notes (3,306) (3,306) Bank charges (31) (40) Net foreign currency loss (926) - Loss on financial instruments carried at fair value - (9) Finance costs (6,621) (5,411) Net finance cost recognized in net profit or loss $ (6,426) $ (4,694) |
Bonds and money market funds
Bonds and money market funds | 12 Months Ended |
Nov. 30, 2021 | |
Schedule Of Detailed Information About Bonds And Money Market Funds [Abstract] | |
Bonds and money market funds | 6. Bonds and money market funds 2021 2020 Bonds $ 12,553 $ 634 Money market funds 7,402 7,397 $ 19,955 $ 8,031 As at November 30, 2021, bonds were interest-bearing |
Trade And Other Receivables
Trade And Other Receivables | 12 Months Ended |
Nov. 30, 2021 | |
Trade And Other Receivables Explanatory [Abstract] | |
Trade and other receivables | 7. Trade and other receivables 2021 2020 Trade receivables $ 9,261 $ 10,947 Sales tax receivable 243 407 Other receivables 983 1,076 $ 10,487 $ 12,430 |
Tax credits and grants receivab
Tax credits and grants receivable | 12 Months Ended |
Nov. 30, 2021 | |
Schedule Of Information About Unused And Unrecorded Non Refundable Federal Tax Credit [Abstract] | |
Tax credits and grants receivable | 8. Tax credits and grants receivable Balance as at November 30, 2019 $ - Tax credits and grants recognized in net loss 749 Effect of change in exchange rates 6 Balance as at November 30, 2020 $ 755 Tax credits and grants recognized in net loss 602 Tax credits and grants receive d (922 ) Effect of change in exchange rate 6 Balance as at November 30, 2021 $ 441 Tax credits receivable comprise grants receivable, and research and development investment tax credits receivable which relate to eligible research and development expenditures under the applicable tax laws. The amounts recorded as receivables are subject to a government tax audit and the final amounts received may differ from those recorded. There are no unfulfilled conditions or contingencies associated with the government assistance received. The Company has unused and unrecorded non-refundable 2024 $ 458 2025 1,365 2026 1,676 2027 2,309 2028 2,561 2029 1,726 2030 855 2031 598 2032 313 2033 207 2039 193 2040 329 204 1 330 $ 12,920 |
Inventories
Inventories | 12 Months Ended |
Nov. 30, 2021 | |
Classes of current inventories [abstract] | |
Inventories | 9. Inventories 2021 2020 Raw materials $ 2,142 $ 2,290 Work in progress 735 488 Finished goods 26,264 22,367 $ 29,141 $ 25,145 Inventories were written down to net realizable value by an amount of $21 in 2021 (2020 – $917), and a reversal of inventory write down of in 2021 (2020-nil) was recorded. An amount of nil (2020 – $910) was recorded in cost of sales as other production-related EGRIFTA ® EGRIFTA SV ® |
Prepaid Expenses and Deposits
Prepaid Expenses and Deposits | 12 Months Ended |
Nov. 30, 2021 | |
Current prepayments [abstract] | |
Prepaid expenses and deposits | 10. Prepaid expenses and deposits 2021 2020 Prepaid expenses $7,721 $4,997 Deposits 3,024 192 $10,745 $5,189 |
Property and equipment
Property and equipment | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property and equipment | 11. Property and equipment Computer Laboratory Office Leasehold Total Cost Balance as at $231 $107 $334 $642 $1,314 Additions 41 - - - 41 Balance as at $272 $107 $334 $642 $1,355 Additions 106 - 1 8 115 Disposals (5) - (3) - (8) Balance as at $373 $107 $332 $650 $1,462 Accumulated depreciation Balance as at $87 $32 $58 $66 $243 Depreciation 75 18 56 98 247 Balance as at $162 $50 $114 $164 $490 Depreciation 72 19 46 100 237 Disposals (5) - (3) - (8) Balance as at $229 $69 $157 $264 $719 Net carrying amounts November 30, 2021 $144 $38 $175 $386 $743 November 30, 2020 $110 $57 $220 $478 $865 |
Right-of-use assets
Right-of-use assets | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of quantitative information about right-of-use assets [abstract] | |
Right-of-use assets | 1 2 Right-of-use Balance as at November 30, 2019 $ - Impact of initial adoption of IFRS 16 2,954 Amortization (441) Effect of change in exchange rates 105 Balance as at November 30, 2020 $ 2,618 Amortization (449) Effect of change in exchange rates (58) Balance as at November 30, 2021 $ 2,111 |
Intangible assets
Intangible assets | 12 Months Ended |
Nov. 30, 2021 | |
Text Block [Abstract] | |
Intangible assets | 1 3 Intangible assets Commercialization ® Commercialization ® Commercialization rights – EGRIFTA SV ® Oncology Total Cost Balance as at November 30, 2019 $11,972 $7,612 $14,041 $3,449 $37,074 Additions - - - 39 39 Balance as at $11,972 $7,612 $14,041 $3,488 $37,113 Accumulated amortization Balance as at $1,158 - $8,436 - $9,594 Amortization 1,055 384 1,512 - 2,951 Balance as at $2,213 $384 $9,948 - $12,545 Amortization 1,054 615 1,511 - 3,180 Balance as at $3,267 $999 $11,459 - $15,725 Net carrying amounts November 30, 2021 $8,705 $6,613 $2,582 $3,488 $21,388 November 30, 2020 $9,759 $7,228 $4,093 $3,449 $24,529 The amortization expense of $3,180 (2020 – $2,951) is included in selling expenses. Commercialization rights – Trogarzo ® On March 18, 2016, the Company entered into a distribution and marketing agreement with TaiMed Biologics, Inc. (“TaiMed”) granting the Company the exclusive right to market Trogarzo ® ® 12-year country-by-country ® ® Commercialization rights – Trogarzo ® in the North American Territory Under the terms of the TaiMed Agreement, TaiMed is responsible for developing Trogarzo ® ® ® . Initial payments Under the TaiMed Agreement, the Company agreed to make an initial payment of US$5,000 and will make several further milestone payments in exchange for the right to commercialize Trogarzo ® The initial payment of $5,000 was made in accordance with the following: (i) $1,000 was paid in cash at the signature of the TaiMed Agreement entered into in March 2016; and (ii) $4,000 through the issuance of the Company’s common shares, payable after the first commercial sale of Trogarzo ® The Company recorded as additions to intangible assets during 2016 related to the TaiMed Agreement an amount of $5,207, which comprises the cash payment of $1,000 at the signature of the agreement, the share-based Commercial milestone payments As further consideration under the TaiMed Agreement, the Company shall make the following one-time : Commercial milestone Note Commercial milestone payment (i) Achieving aggregate net sales of $20,000 over 1 7 $7,000 (paid in 2019 and 2020) (ii) Upon first achieving annual net sales of $200,000 $10,000 (iii) Upon first achieving annual net sales of $500,000 $40,000 (iv) Upon first achieving annual net sales of $1,000,000 $100,000 The Company will also pay TaiMed development milestones for Trogarzo ® intravenous-push may ® intravenous-push ® Commercialization rights – Trogarzo ® in the European Territory On September 26, 2019, Trogarzo ® The purchase price of Trogarzo ® ® ® ® Initial and milestone payments The TaiMed Agreement also provides for the following development, launch and sales milestones paid or to be paid by the Company to TaiMed: - An upfront payment of $3,000, which was paid through the issuance of 906,077 common shares of the Company on March 17, 2017; - An approval milestone payment representing 50% of the costs of the clinical trials and all associated development activities regulated by the EMA and incurred by TaiMed, if any, to obtain marketing approval of Trogarzo ® - A launch milestone payment of $10,000 payable to TaiMed as follows: ● $5,000 one year after the first commercial sale of Trogarzo ® ● $5,000 one year after reaching net sales in the European Territory aggregating $50,000 over four consecutive quarters; - A milestone of $10,000 upon net sales in the European Territory aggregating $150,000 over four consecutive quarters; - A milestone of $20,000 upon net sales in the European Territory aggregating $500,000 over four consecutive quarters; and - A milestone of $50,000 upon net sales in the European Territory aggregating $1,000,000 over four consecutive quarters. As a result of the TaiMed Agreement, the Company recorded as additions to intangible assets during 2017 an amount of $3,055, which comprises the payment of $3,000 paid through the issuance of 906,077 common shares of the Company and $55 of acquisition costs. The commercial milestone payments payable in cash are accrued and recorded in the cost of the intangible asset when it is probable that they will be paid. The commercial milestone payments represent licence fee consideration and, therefore, will be added to the cost of the intangible asset. In order to demonstrate that the commercial milestone payment is probable, the product will need to have been launched and there should be a sufficient history of sales to have a reasonable expectation that the commercial milestone payments will be reached. In 2019, the Company accrued and recorded the first $5,000 payable one year after the first commercial sale of Trogarzo ® 7 Oncology platform On February 25, 2019, the Company acquired Katana Biopharma Inc. (“Katana”). On May 21, 2019, Katana was wound-up Katana (now the Company) is the worldwide exclusive licensee of a technology platform using peptides as a vehicle to specifically deliver existing cytotoxic agents to sortilin receptors, which are overexpressed on cancer cells. The licence was entered into on February 25, 2019 with Transfert Plus, L.P. (“Transfert Plus”), an affiliate of Aligo Innovation, a university research company that commercializes the research results of universities and other institutional partners from various areas of innovation, including life sciences (the “Licence Agreement”). Under the terms of the acquisition agreement, the purchase price is subject to two share-based 1 The second milestone payment of CA$2.3 million will occur when the proof of concept is demonstrated in human subjects and will be satisfied through the issuance of common shares of the Company. This acquisition was accounted for as an asset acquisition. The Company recorded additions to intangible assets during 2019 of $3,073, which comprised the payment at closing of $1,965 in cash, $5 through the issuance of 900 common shares of the Company, the estimated fair value of the share-based share-based equity-settled, for the second milestone payment In August 2019, the acquisition agreement was amended to provide for an adjustment to the purchase price of CA$1.08 million in the event the Company could indirectly benefit from a CA$1.2 million subsidy in connection with its research and development activities. The subsidy was granted in October 2019. The adjustment will be payable in two installments. The first installment of CA$500 thousand was paid in cash in October 2019, whereas the second installment of CA$580 thousand will be paid at the same time as the CA$2.3 million milestone referred to above is achieved and will be satisfied through the issuance of common shares of the Company. The cash payment of $376 (CA$500 thousand) was recognized as an addition to intangible assets during 2019. Annual maintenance fees amount to CA$25 thousand for the first five years and CA$100 thousand thereafter, until royalties become payable beginning with the first commercial sale of a product developed using the licensed technology. The royalties payable under the Licence Agreement vary between 1% and 2.5% on net sales of a product based on the licensed technology. If the Company enters into a sublicence agreement, it must then pay amounts varying between 5% and 15% of revenues received from such sublicence agreement. The Company must pay Transfert Plus the following milestone payments upon the occurrence of the following development milestones for the first product developed in the field of oncology: (i) First milestone payment: $39 (CA$50) thousand upon the successful enrolment of the first patient in the first Phase 1 human clinical trial paid in May 2021; (ii) Second milestone payment: CA$100 thousand upon the successful enrolment of the first patient in the first Phase 2 human clinical trial; and (iii) Third milestone payment: CA$200 thousand upon the successful enrolment of the first patient in the first Phase 3 human clinical trial. Also, the Company must pay CA$200 thousand for each product upon receiving the first approval for such product by a regulatory authority. The approval shall entitle the holder thereof to commercialize the product in the territory in which the approval was obtained. |
Other asset
Other asset | 12 Months Ended |
Nov. 30, 2021 | |
Text Block [Abstract] | |
Other asset | 1 4 Other asset Cost Balance as at November 30, 2019, 2020 and 2021 $ 19,530 Accumulated amortization Balance as at November 30, 2019 $ 7,326 Amortization 4,881 Balance as at November 30, 2020 $ 12,207 Amortizatio n 4,882 Balance as at November 30, 2021 $ 17,089 Net carrying amounts November 30, 2021 $ 2,441 November 30, 2020 $ 7,323 On May 29, 2018, the Company entered into an agreement (the “Renegotiated Agreement”) with EMD Serono, Inc. to settle all outstanding cash payment obligations stemming from a termination and transfer agreement dated December 13, 2013, as amended (the “2013 Termination Agreement”). The remaining contractual obligations under the 2013 Termination Agreement totalled approximately $28,200, which was comprised of a $4,000 payment due in May 2019 and $24,200 in estimated royalties on future sales of EGRIFTA ® long-term EGRIFTA ® |
Accounts payable and accured li
Accounts payable and accured liabilities | 12 Months Ended |
Nov. 30, 2021 | |
Trade and Accrued Payables [Abstract] | |
Accounts payable and accured liabilities | 1 5 Accounts payable and accrued liabilities Note 2021 2020 Trade payables $ 15,526 $ 17,510 Accrued liabilities and other payables 19,932 13,911 Salaries and benefits due to key management personnel 2 9 880 776 Employee salaries and benefits payable 1,942 724 Liability related to deferred stock unit plan 2 1 d 710 508 Accrued interest payable on convertible unsecured senior notes 1 8 1,386 1,386 $ 40,376 $ 34,815 |
Provisions
Provisions | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of other provisions [abstract] | |
Provisions | 1 6 Provisions Chargebacks Returns Other Total Balance as at November 30, 2019 $2,182 $247 $55 $2,484 Provisions made 10,314 948 2,973 14,235 Provisions used (10,818) (935) (3,019) (14,772) Balance as at November 30, 2020 $1,678 $260 $9 $1,947 Provisions made 10,655 1,074 - 11,729 Provisions used (8,570 ) (924 ) (9 ) (9,503 ) Effect of change in exchange rate (50) - - (50) Balance as at November 30, 2021 $3,713 $410 $- $4,123 |
Other obligations
Other obligations | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure Of Detailed Information About Long Term Obligation [Abstract] | |
Other obligations | 17. Other obligations The movement in the other obligations is as follows. Commercialization ® Commercialization ® Total Balance as at November 30, 2019 $ 3,417 $ 4,570 $ 7,987 Accretion expense 83 96 179 Payment (3,500 ) - (3,500 ) Current portion as at - $ 4,666 $ 4,666 Accretion expense - 334 334 Payment - (5,000 ) (5,000 ) Current portion as at $ - $ - $ - Commercialization rights – Trogarzo ® Under the terms of the TaiMed Agreement, a comm e Commercialization rights – Trogarzo ® Under the terms of the TaiMed Agreement, a launch milestone of $5,000 is payable one year after the first commercial sale of Trogarzo ® |
Convertible unsecured senior no
Convertible unsecured senior notes | 12 Months Ended |
Nov. 30, 2021 | |
Convertible Senior Notes [Abstract] | |
Convertible unsecured senior notes | 18. Convertible unsecured senior notes On June 19, 2018, the Company closed a notes offering of convertible unsecured senior notes having an aggregate principal amount of $57,500. The notes bear interest at an annual rate of 5.75% (effective interest rate of 9.95%) and are convertible into common shares at the option of the holder at any time at a conversion price of $14.85 per common share, representing 3,872,053 common shares. The maturity date of the notes is June 30, 2023. The Company may redeem the notes prior to maturity at any time on or after June 30, 2021 if the current market price of the common shares is at least 130% of the conversion price. The notes are repayable at par value plus accrued and unpaid interest. The movement in the carrying value of the convertible unsecured senior notes is as follows: Convertible unsecured senior notes as at November 30, 2019 $ 50,741 Accretion expense 1,662 Convertible unsecured senior notes as at November 30, 2020 $ 52,403 Accretion expense 1,824 Convertible unsecured senior notes as at November 30, 2021 $ 54,227 |
Leases liabilities
Leases liabilities | 12 Months Ended |
Nov. 30, 2021 | |
Lease liabilities [abstract] | |
Leases liabilities | 1 9 Leases liabilities Carrying value Balance as at December 1, 2019 $ 3,192 Accretion expense 215 Lease payments (568) Effect of change in exchange rates 141 Balance as at November 30, 2020 $ 2,980 Accretion expense 200 Lease payments (635) Effect of change in exchange rates (27) Balance as at November 30, 2021 $ 2,518 Current portion (463) Non-current $ 2,055 |
Other liabilities
Other liabilities | 12 Months Ended |
Nov. 30, 2021 | |
Other Liabilities [Abstract] | |
Other liabilities | 20 Other liabilities Note 2021 2020 Stock appreciation rights 2 1 e $ 94 $ 41 $ 94 $ 41 |
Share capital and warrants
Share capital and warrants | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of classes of share capital [abstract] | |
Share capital and warrants | 2 1 Share capital and warrants Authorized in unlimited number and without par value Common shares; and Preferred shares, issuable in one or more series. All issued shares were fully paid on November 30, 2021 and 2020. Common shareholders are entitled to receive dividends as declared by the Company at its discretion and are entitled to one vote per share at the Company’s annual general meeting. No preferred shares are outstanding. ( Public offering On January 19, 2021, the Company completed a public offering for the sale and issuance of 16,727,900 units at a price of $2.75 per unit for a gross cash consideration of $46,002, including the full exercise of the over-allotment option. Each unit was comprised of one-half Company (each whole warrant, a “Warrant”) and is classified Share issuance costs of $3,394 were recorded against the deficit. for proceeds of $742, ( Milestone oncology In March 2021, the Company issued 481,928 common shares under the terms of the acquisition agreement entered into with all of the shareholders of Katana for Katana’s in-licensed (c) ATM program Under the terms of a sales agreement dated July 23, 2021, the Company may issue and sell from time to time its common shares, having an aggregate offering price of up to $50,000, through or to the Agent, as agent or principal, in the United States. Sales of the common shares will be made in transactions that are deemed to be “at-the-market “at-the-market (d) DSU plan On December 10, 2010, the Board of Directors adopted a deferred stock unit plan (the “DSU Plan”) for the benefit of its directors and officers (the “Beneficiaries”). The goal of the DSU Plan is to increase the Company’s ability to attract and retain high-quality long-term DSUs may only be redeemed when a Beneficiary ceases to act as a director or an officer of the Company. Upon redemption, the Company must provide a Beneficiary with an amount in cash equal to the DSU value on the redemption date. Beneficiaries may not sell, transfer or otherwise assign their DSU or any rights associated therewith other than by will or in accordance with legislation regarding the vesting and partition of successions. DSUs are totally vested at the grant date. In the case of DSUs granted to officers for annual bonuses, a DSU liability is recorded at the grant date in place of the liability for the bonus payments. In the case of directors, the expense related to DSUs and their liabilities is recognized at the grant date. During the year ended November 30, 2021, $78 (2020 – $33) was recorded as an expense and is included in general and administrative expenses. The liability related to DSUs is adjusted periodically to reflect any change in the market value of the common shares. As at November 30, 2021, a loss of $209 (2020 – gain Cash-settled To protect against fluctuations in the value of DSUs, the Company entered into cash-settled cash-settled common shares at a price per share) expiring on December 21, 2022 (2020 – December 21, 2021). As at November 30, 2021, the fair value of cash-settled forward stock contracts lo ss of . (e) Share Appreciation Rights (SARs) On October 4, 2018, the Company’s Board of Directors approved a SARs plan for its consultants that entitles the grantee to receive a cash payment based on the increase in the stock price of the Company’s common shares from the grant date to the settlement date. The exercise date of an SAR may not be later than 10 years after the grant date. Generally, the SARs vest over a period of three years. For the year ended November 30, 2021, $53 (2020 – $13) was recorded as share-based compensation expense for the SARs plan. Since these awards will be cash-settled, the fair value of SARs granted is estimated at each reporting period using the Black-Scholes model and the following weighted average assumptions. Granted in 2019 Measurement date as at November 30, 2021 Measurement date Risk-free 1.57% 0.67% Expected volatility 59% 64.6% Average option life in years 5.2 years 6.25 years S $3.29 (CA$4.21) $2.31 (CA$3.00) Option exercise price $6.30 (CA$8.05) $6.19 (CA$8.05) Granted in 2021 Measurement date Risk-free 1.57% Expected volatility 65.5% Average option life in years 8.2 years Share price $3.29 (CA$4.21) Option exercise price $3.38 (CA$4.32) The risk-free zero-coupon The following table summarizes the grant date weighted average fair value of SARs granted during the year ended November 30, 2021. No SARs were granted in 2020. Number of SARs Weighted average 2021 75,000 $ 2.13 (CA$2.73) (f) Shareholder rights plan On April 10, 2019, the Company’s Board of Directors approved the amendment and renewal of the shareholder rights plan and, on the same date, the Company and Computershare Trust Services of Canada entered into an amended and restated shareholder rights plan agreement (the “Plan”). The Plan was approved by the shareholders on May 15, 2019. The Plan is designed to provide adequate time for the Board and the shareholders to assess an unsolicited takeover bid for the Company. In addition, the Plan provides the Board with sufficient time to explore and develop alternatives for maximizing shareholder value if a takeover bid is made, as well as provide shareholders with an equal opportunity to participate in a takeover bid to receive full and fair value for their common shares. The Plan will expire at The rights issued under the Plan will initially attach to and trade with the common shares, and no separate certificates will be issued unless a triggering event occurs. The rights will become exercisable only when an acquiring person, including any party related to it, acquires or attempts to acquire 20% or more of the outstanding shares without complying with the “Permitted Bid” provisions of the Plan or without approval of the Board of Directors. Subject to the terms and conditions set out in the Plan, each right would, upon exercise and payment of $5.00 per right, entitle a rights holder, other than the acquiring person and related parties, to purchase a number of common shares at twice the exercise price of $5.00 per right based on the average weighted market price of the common shares for the last 20 trading days preceding the common share acquisition date (as defined in the Plan’s rights). Under the Plan, a Permitted Bid is a bid made to all holders of common shares and which is open for acceptance for no less than 105 days. If, at the end of 105 days, at least 50% of the outstanding common shares, other than those owned by the offeror and certain related parties, has been tendered, the offeror may take up and pay for the common shares, but must extend the bid for a further 10 days to allow other shareholders to tender. (g) Stock option plan The Company has established a stock option plan under which it can grant its directors, officers, employees, researchers and consultants non-transferable All options are to be settled by the physical delivery of common shares. Changes in the number of options outstanding during the past two years were as follows: Weighted average Number CA$ US$ Options outstanding as at November 30, 2019 2,415,784 $ 3.94 $ 2.96 Granted – CA$ 1,077,721 3.06 2.25 Forfeited and expired – CA$ (229,812 ) 4.72 3.47 Exercised (share price: CA$8.65 (US$6.57)) (60,000 ) 3.38 2.40 Options outstanding as at November 30, 2020 3,203,693 $ 3.59 $ 2.76 Granted – CA$ 1,057,831 3.94 3.10 Forfeited and expired – CA$ (406,240 ) 6.61 5.26 Exercised (share price: CA$4.18 (US$3.36)) 665,000 1.11 0.89 Options outstanding as at November 30, 2021 – CA$ 3,190,284 $ 3.83 $ 3.00 Options exercisable as at November 30, 2021 – CA$ 1,630,476 $ 3.96 $ 3.10 Options exercisable as at November 30, 2020 – CA$ 2,063,672 $ 3.43 $ 2.64 Options outstanding in US$ Options as at November 30, 2020 – US$ 12,500 - 2.35 Granted – US$ 102,608 - 3.18 Forfeited – US$ (34,375 ) - 3.06 Options outstanding as at November 30, 2021 – US$ 80,733 $ - $ 3.09 Options exercisable as at November 30, 2021 – US$ 4,166 $ - $ 2.35 Options exercisable as at November 30, 2020 – US$ - $ - $ - The following table provides stock option information as at November 30, 2021 (options outstanding in CA$). Price range Number of options Weighted Weighted CA$ US$ (years) CA$ US$ 0.25 – 1.19 0.19 – 0.92 314,660 1.12 0.36 0.28 2.01 – 3.75 1.55 – 2.89 1,310,453 7.32 2.80 2.19 3.76 – 6.00 2.89 – 4.62 1,108,074 8.84 4.15 3.25 6.01 – 9.00 4.62 – 6.93 318,733 6.95 7.92 6.20 9.01 – 10.00 6.93 – 1.70 138,364 6.35 9.56 7.48 3,190,284 7.16 3.83 3.00 The following table provides stock option information as at November 30, 2021 (options outstanding in US$). Price range Number of options Weighted Weighted US$ (years) US$ 2.01 – 3.75 80,733 9.32 3.09 (g) Stock option plan (continued) For the year ended November 30, 2021, $1,879 (2020 – $1,414) was recorded as share-based Black-Scholes Options granted in CA$ 2021 2020 Risk-free 1.35% 0.95% Expected volatility 70% 74% Average option life in years 8.5 years 8.5 years Grant-date $ 3.10 (CA$3.94) $ 2.25 (CA$3.06) Option exercise price $ 3.10 (CA$3.94) $ 2.25 (CA$3.06) Options granted in US$ 2021 2020 Risk-free 1.37% 0.74% Expected volatility 72% 78% Average option life in years 8.5 years 8.5 years Grant-date $ 3.18 $ 2.35 Option exercise price $ 3.18 $ 2.35 The risk-free zero-coupon The following table summarizes the measurement date weighted average fair value of stock options granted during the years ended November 30, 2021 and 2020. Options granted in CA$ Number Weighted 2021 1,057,831 $ 2.13 (CA$2.72) 2020 1,077,721 $ 1.71 (CA$2.22) Options granted in US$ Number Weighted 2021 102,608 $ 2.22 2020 12,500 $ 1.70 The Black-Scholes (h) Loss per share The calculation of basic loss per share was based on the net loss attributable to common shareholders of the Company of $31,725 (2020 – $22,667) and a weighted average number of common shares outstanding of 92,350,198 (2020 – 76,991,635), calculated as follows. 2021 2020 Issued common shares as at December 1 77,013,411 76,953,411 Effect of share options exercised 374,247 38,224 Effect of public issue common shares 14,816,285 - Effect of broker warrants exercised 146,255 - Weighted average number of common shares, 92,350,198 76,991,635 For the year ended November 30, 2021, 3,271,017 (2020 – 3,216,193) share options, 8,130,550 Warrants (2020 – nil) 8 anti-dilutive. The average market value of the Company’s shares for purposes of calculating the dilutive effect of share options was based on quoted market prices for the period during which the options were outstanding. (i) Accumulated other comprehensive income (loss) 2021 2020 Unrealized losses on FVOCI financial assets, net of tax $ (195 ) $ 2 Cumulative exchange difference on translation of 151 (483 ) $ (44 ) $ (481 ) |
Income taxes
Income taxes | 12 Months Ended |
Nov. 30, 2021 | |
Major components of tax expense (income) [abstract] | |
Income taxes | 2 2 The following table presents the components of the current and deferred tax expenses (recovery). 2021 2020 Current tax expense $ 63 $ 16 Deferred tax expense (recovery) Origination and reversal of temporary differences $ (7,796) $ (4,890) Change in unrecognized deductible temporary differences 7,796 4,890 Total deferred tax expense (recovery) $ - $ - Total current and deferred tax expense $ 63 $ 16 Reconciliation between effective and applicable tax amounts 2021 2020 Income taxes at domestic tax statutory rate $ (8,390 ) $ (6,004 ) Change in unrecognized deductible temporary differences 7,796 4,890 Impact of differences in statutory tax rates 64 742 Non-deductible 593 388 Total income tax expense $ 63 $ 16 The applicable statutory tax rates were 26.5% in 2021 and Unrecognized deferred tax assets As at November 30, unrecognized deferred tax assets were as follows. 2021 2020 Research and development expenses $ 26,046 $ 24,924 Non-capital 38,615 31,725 Property and equipment 225 242 Intellectual property and patent fees 3,054 2,952 Available deductions and other 7,535 5,045 $ 75,475 $ 64,888 Given the Company’s past losses, management does not believe that it is probable that the Company can realize its deferred tax assets and, therefore, no amount has been recognized in the consolidated statements of financial position. The generation of future taxable profit is dependent on the successful commercialization of the Company’s products and technologies. As at November 30, 2021 and 2020, the amounts and expiry dates of Canadian tax attributes for which no deferred tax asset was recognized were as follows: 2021 2020 Federal Provincial Federal Provincial Research and development expenses, without time limitation $ 89,740 $ 109,034 $ 85,792 $ 104,822 Losses carried forward 2027 5,960 5,952 5,760 5,753 2028 36,877 17,949 35,640 17,347 2029 15,513 13,111 14,993 12,672 2030 9,109 9,105 8,803 8,800 2031 18,758 16,651 18,129 16,092 2032 12,709 11,669 12,282 11,278 2033 9,132 9,046 8,826 8,742 2034 8,362 8,289 8,082 8,011 2037 7,462 7,373 7,212 7,126 2038 2,177 2,095 2,104 2,025 2039 1,434 1,394 1,386 1,347 2040 7,832 7,805 6,928 6,921 2041 21,220 21,153 - - Other temporary differences, without time limitation Excess of tax value of property and equipment over carrying value 869 838 959 870 Excess of tax value of intellectual property and patent fees over carrying value 11,522 11,518 11,136 11,131 Available deductions and other 60,940 16,607 50,470 7,619 As at November 30, 2021 and 2020, no deferred tax liability was recognized for temporary differences arising from investments in subsidiaries because the Company controls the decisions affecting the realization of such liabilities and it is probable that the temporary differences will not reverse in the foreseeable future. |
Supplemental cash flow disclosu
Supplemental cash flow disclosures | 12 Months Ended |
Nov. 30, 2021 | |
Supplemental cash flow disclosures [abstract] | |
Supplemental cash flow disclosures | 2 3 Supplemental cash flow disclosures The Company entered into the following transactions, which had no impact on its cash flows. 2021 2020 Additions to property and equipment included in accounts payable and accrued liabilities $ - $ 12 Deferred financing costs included in accounts payable and accrued liabilities 174 - Initial recognition of right-of-use - 3,192 Reclassification of other liabilities to right-of-use-assets - 238 |
Financial instruments
Financial instruments | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of detailed information about financial instruments [abstract] | |
Financial instruments | 2 4 Financial instruments Overview This note provides disclosures relating to the nature and extent of the Company’s exposure to risks arising from financial instruments, including credit risk, liquidity risk, currency risk and interest rate risk, and how the Company manages those risks. Credit risk Credit risk is the risk of a loss if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Company regularly monitors credit risk exposure and takes steps to mitigate the likelihood of this exposure resulting in losses. The Company’s exposure to credit risk currently relates to accounts receivable with one major customer (see Note 2 8 high-grade Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. As indicated in Note 2 5 The Company has adopted an investment policy in respect of the safety and preservation of its capital designed to ensure that the Company’s liquidity needs are met. The instruments are selected with regard to the expected timing of expenditures and prevailing interest rates. The following are amounts due on the contractual maturities of financial liabilities as at November 30, 2021 and 2020. 2021 Carrying Total Less From More than 3 years Accounts payable and accrued liabilities $40,376 $40,376 $40,376 - - Convertible unsecured senior notes, including interest 54,227 64,113 3,306 60,807 - Lease liabilities 2,518 2,973 624 1,275 1,074 $97,121 $107,462 $44,306 $62,082 $1,074 2020 Carrying Total Less From More than 3 years Accounts payable and accrued liabilities $34,815 $34,815 $34,815 - - Convertible unsecured senior notes, including interest 52,403 67,419 3,306 64,113 - Long-term 4,666 5,000 5,000 - - Lease liabilities 2,980 3,640 621 1,267 1,752 $94,864 $110,874 $43,742 $65,380 $1,752 Currency risk The Company is exposed to financial risk related to the fluctuation of foreign exchange rates and the degree of volatility of those rates. Currency risk is limited to the portion of the Company’s business transactions denominated in currencies other than US$, primarily cash, sale of goods and expenses incurred in CA$ and Euro. Exchange rate fluctuations for foreign currency transactions can cause cash flows, as well as amounts recorded in the consolidated statements of net loss, to vary from period to period and not necessarily correspond to those forecasted in operating budgets and projections. Additional earnings variability arises from the translation of monetary assets and liabilities denominated in currencies other than the US$ at the rates of exchange at each consolidated statement of financial position date, the impact of which is reported as foreign exchange gain or loss in the consolidated statements of net loss. The Company does not believe a sudden change in foreign exchange rates would impair or enhance its ability to pay its CA$ or Euro denominated obligations. The following table presents the significant items in the original currencies exposed to currency risk as at November 30, 2021 and 2020. 2021 2020 CA$ EURO CA$ EURO Cash 589 61 871 36 Bonds and money market funds 16,298 - 821 - Trade and other receivables 331 1,553 522 1,052 Tax credits and grants receivable 385 123 942 25 Accounts payables and accrued liabilitie s (6,819) (7,256) (4,937 ) (4,496) Lease liabilities (1,755 ) (1,010 ) (2,109) (1,138) Provisions - (1,970 ) - - Total exposure 9,029 (8,499 ) (3,890) (4,521) The following exchange rates are those applicable as at November 30, 2021 and 2020. 2021 2020 Average rate Reporting date rate Average rate Reporting date rate CA$ – US$ 0,797 0,782 0.7445 0.7695 Euro – US$ 1,190 1,133 1.1325 1.1928 Based on the Company’s foreign currency exposures noted above, varying the above foreign exchange rates to reflect a 5% strengthening of the CA$ or the Euro would have an impact on net earnings for CA$ and in the accumulated other comprehensive loss for Euro as follows, assuming that all other variables remained constant. 2021 2020 CA$ EURO CA$ EURO Positive (negative) impact 451 (425) (195) (226) An assumed 5% weakening of the CA$ would have had an equal but opposite effect on the above currencies in the amounts shown above, assuming that all other variables remain constant. Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Short-term Long-term Based on the value of the Company’s short- long-term $ Cash and money market funds bear interest at a variable rate. Trade and other receivables, accounts payable and accrued liabilities and provisions bear no interest. Based on the average value of variable interest-bearing long-term |
Capital management
Capital management | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of objectives, policies and processes for managing capital [abstract] | |
Captital management | 2 5 Capital management The Company’s objective in managing its capital is to ensure a liquidity position sufficient to finance its business activities. The Company depends primarily on revenue generated by sales of EGRIFTA SV ® ® The capital management objectives remain the same as for the previous year. As at November 30, 2021, cash, bonds and money market funds amounted to $40,354 (2020 – $20,768). The Company believes that its cash position and future operating cash flows will be sufficient to finance its operations and capital needs for at least the next 12 months from the consolidated statement of financial position date. Currently, the Company’s general policy on dividends is to retain cash to keep funds available to finance its growth. The Company defines capital to include total equity and convertible unsecured senior notes. The Company is not subject to any externally imposed capital requirements. |
Determination of fair values
Determination of fair values | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of Fair Value Measurement [Abstract] | |
Determination of fair values | 2 6 Determination of fair values Certain of the Company’s accounting policies and disclosures require the determination of fair value, for both financial and non-financial Financial assets and financial liabilities measured at fair value In establishing fair value, the Company uses a fair value hierarchy based on levels as defined below: Level 1: Defined as observable inputs such as quoted prices in active markets. Level 2: Defined as inputs other than quoted prices in active markets that are either directly or indirectly observable. Level 3: Defined as inputs that are based on little or no observable market data, therefore requiring entities to develop their own assumptions. Other financial assets and financial liabilities The Company has determined that the carrying values of its short-term Bonds and money market funds and derivative financial assets and financial liabilities are stated at fair value, determined by inputs that are primarily based on broker quotes at the reporting date (Level 2). The fair value of the convertible unsecured senior notes, including the equity portion, as at November 30, 2021 was approximately $52,756 (2020–$43,125) (Level 1) based on market quotes. Share-based The fair value of the employee stock options is measured based on the Black-Scholes risk-free non-market The DSU liability is recognized at fair value and considered Level 2 in the fair value hierarchy for financial instruments. The fair value is determined using the quoted price of the common shares of the Company. |
Commitments
Commitments | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of commitments [abstract] | |
Commitments | 27. Commitments (a) Long-term The Company has long-term EGRIFTA SV ® ® ® EGRIFTA SV ® As at November 30, 2021, the Company also has research commitments and outstanding clinical material purchase orders amounting to $1,253 (2020 – $586) in connection with the oncology platform and $724 (2020 – $1,217) in connection with a new formulation of tesamorelin and of a multi-dose pen injector developed for this new formulation. (b) Credit facilities The Company has a CA$1,500 revolving credit facility bearing interest at Canadian prime rate plus 1% and a $1,000 revolving credit facility bearing interest at US prime rate plus 1%. The Company’s assets have been given as collateral to secure these credit facilities. As at November 30, 2021 and 2020, the Company did not have any borrowings outstanding under these facilities. (c) Licence agreement On February 4, 2020, the Company entered into an amended and restated licence agreement with the Massachusetts General Hospital (“MGH”), as amended on April 15, 2020, in order to benefit from its assistance and knowledge for the development of tesamorelin for the potential treatment of Non-Alcoholic EGRIFTA ® EGRIFTA SV ® Non-Alcoholic (d) Post-approval commitments In connection with the approval of Trogarzo ® ® HIV-1 ® HIV-1 ® ® ® |
Operating segments
Operating segments | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of operating segments [abstract] | |
Operating segments | 28. Operating segments The Company has a single operating segment. As described in Note 3, almost all of the Company’s revenues are generated from one customer, RxCrossroads, which is domiciled in the United States. 2021 2020 RxCrossroads $ 68,917 $ 63,909 Others 906 2,144 $ 69,823 $ 66,053 All of the Company’s non-current non-current |
Related parties
Related parties | 12 Months Ended |
Nov. 30, 2021 | |
Related party transactions [abstract] | |
Related parties | 29. Related parties The key management personnel of the Company are the directors, the President and Chief Executive Officer and all of the Senior Vice Presidents. Key management personnel compensation comprises: 2021 2020 Short-term $ 2,690 $ 2,384 Post-employment 72 97 Share-based 1,243 925 Termination benefits - 864 $ 4,005 $ 4,270 As at November 30, 2021, the key management personnel controlled 0.7% (2020 – 1.4%) of the voting shares of the Company and held 0.2% (2020 – 0.2%) of the convertible unsecured senior notes. |
Subsequent event
Subsequent event | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Subsequent event | 30 Subsequent event s On December 1, 2021, the Company granted 2,099,651 stock options at an exercise price of CA $4.21 and 269,170 stock options at an exercise price of $3.30. On November 23, 2021, the Company filed a short form base shelf prospectus with the Securities and Exchange Commission and Canadian securities regulatory authorities with the intent of filing a prospectus supplement to renew the prospectus supplement of July 23, 2021 relating to the $50,000 ATM facility. Such prospectus supplement was filed on December 16, 2021 and the ATM was renewed (see Note 21 (c)). |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Nov. 30, 2021 | |
Text Block [Abstract] | |
Basis of consolidation | Basis of consolidation The financial statements of the subsidiaries of the Company are included in the consolidated financial statements from the date on which control commences until the date on which control ceases. Subsidiaries are entities controlled by the Company. Control is present where the Company has the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. In assessing control, potential voting rights that are currently exercisable are taken into consideration. The accounting policies of subsidiaries are changed when necessary to align them with the policies adopted by the Company. Intercompany balances and transactions, revenues and expenses resulting from transactions between subsidiaries and with the Company are eliminated in preparing the consolidated financial statements. |
Foreign currencies | Foreign currencies Transactions in foreign currencies are translated to the functional currency at exchange rates in effect at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated to the functional currency at the exchange rate in effect at that date. The foreign currency gain or loss on monetary items is the difference between amortized cost in the functional currency at the beginning of the reporting year, adjusted for effective interest and payments during the reporting year, and the amortized cost in foreign currency translated at the exchange rate in effect at the end of the reporting year. Non-monetary Non-monetary Foreign operations The assets and liabilities of foreign operations whose functional currency is not the US$ are translated into US$ at the reporting date. The income and expenses of foreign-currency |
Revenue recognition | Revenue recognition Revenue from contracts with customers – Net sales The Company derives revenue from the sales of finished goods, which include Trogarzo ® SV ® Some arrangements for the sale of finished goods provide for customer cash discounts for prompt payment, allowances, rights of return, rebates on sales made under governmental and commercial rebate programs, chargebacks on sales made to government agencies and retail pharmacies and distribution fees, including potential clawbacks in certain jurisdictions when pricing terms are based on temporary use authorisations and thus subject to future negotiation, which gives rise to variable consideration. At the time of sale, estimates are made for items giving rise to variable consideration based on the terms of the arrangement. The variable consideration is estimated at contract inception using the most likely amount method and revenue is only recognized to the extent that a significant reversal of revenue is not expected to occur. The estimate is based on historical experience, current trends, contractual terms with distributors and other known factors. Sales are recorded net of customer discounts, rebates, chargebacks, distribution fees and estimated sales returns, and exclude sales taxes. A refund liability and a right to recover returned goods asset are recognized for expected returns in relation to sales made before the end of the reporting period. The right to recover returned goods asset is measured at the former carrying amount of the inventory less any expected costs to recover goods. The Company reviews its estimate of variable consideration, including expected returns, on a quarterly basis, adjusting for the amounts of the asset and liability accordingly. |
Cost of sales | Cost of sales Cost of goods sold Cost of goods sold includes the cost of raw materials, supplies, direct labour and overhead charges allocated to goods sold. Other production-related costs Other production-related costs include unallocated indirect costs related to production as well as write-downs Amortization of the other asset The amortization of the other asset relates to the repurchase of the future royalty rights under the 2013 Termination Agreement (Note 1 4 |
Employee benefits | Employee benefits Salaries and short-term Salaries and short-term short-term profit-sharing Post-employment Post-employment Termination benefits Termination benefits are recognized as an expense when the Company is committed demonstrably, without realistic possibility of withdrawal, to a formal detailed plan to either terminate employment before the normal retirement date or to provide termination benefits as a result of an offer made to encourage voluntary redundancy. |
Finance income and finance costs | Finance income and finance costs Finance income comprises interest income on financial assets and gains on the disposal of financial assets. Interest income is recognized as it accrues in net loss using the effective interest method. Finance costs comprise bank charges, interest and accretion expense on convertible unsecured senior notes and long-term long-term |
Inventories | Inventories Inventories are presented at the lower of cost, determined using the first-in, first-out Work in progress inventory appears from the moment third party suppliers use the material provided by the Company until the time the Company receives the finished product. The value of work in progress inventory is equal to the value of material provided by the Company plus all conversion work performed by third party suppliers. |
Property and equipment | Property and equipment Recognition and measurement Items of property and equipment are recognized at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditures that are directly attributable to the acquisition of the asset and the costs of dismantling and removing the item and restoring the site on which it is located, if any. Construction in progress assets are capitalized during construction and depreciation commences when the asset is available for use. When parts of an item of property and equipment have different useful lives, they are accounted for as separate items (major components) of property and equipment. Gains and losses on disposal of an item of property and equipment are determined by comparing the proceeds from disposal with the carrying amount of property and equipment and are recognized in net profit or loss. Subsequent costs The cost of replacing a part of an item of property and equipment is recognized in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Company and its cost can be measured reliably. The carrying amount of the replaced part is derecognized. The costs of the day-to-day Depreciation The methods of depreciation and depreciation rates and periods are as follows: Asset Method Rate/period Computer equipment Declining balance 50% Laboratory equipment Declining balan 20% and straight-line 5 years Office furniture and equipment Declining balance 20% Leasehold improvements Straight-line Lower of lease term The method of depreciation is selected based on the most closely expected pattern of consumption of the future economic benefits embodied in the asset. Estimates for depreciation methods, useful lives and residual values are reviewed at each year-end |
Intangible assets | Intangible assets Research and development Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, is expensed as incurred. Development activities involve a plan or design for the production of new or substantially improved products and processes. A development expenditure is capitalized only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Company intends to and has sufficient resources to complete development and to use or sell the asset. These criteria are usually met when a regulatory filing has been made in a major market and approval is considered highly probable. The expenditure capitalized includes the cost of materials, direct labour, and overhead costs that are directly attributable to preparing the asset for its intended use. Other development expenditures are expensed as incurred. Capitalized development expenditures are measured at cost less accumulated amortization and accumulated impairment losses. During the years ended November 30, 2021 and 2020, no development expenditures were capitalized. Commercialization rights and oncology platform Commercialization rights and the oncology platform acquired by the Company have finite useful lives and are measured at cost less accumulated amortization and any accumulated impairment losses. Subsequent changes in the cash-based EGRIFTA SV ® f 111 months on a Commercialization rights – Trogarzo ® of months on a straight-line ® straight-line The amortization method and useful life of intangible assets are reviewed every year and adjusted as required. |
Other asset | Other asset Other asset, which comprises the amount disbursed in connection with the repurchase of the future royalty rights under the 2013 Termination Agreement (Note 13), is amortized over its estimated useful life of 48 months. |
Impairment of non-financial assets | Impairment of non-financial The carrying amounts of the Company’s non-financial For the purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of cash inflows from other assets or groups of assets (“cash-generating cash-generating pre-tax cash-generating |
Financial instruments | Financial instruments The Company initially recognizes financial assets on the trade date at which the Company becomes a party to the contractual provisions of the instrument. Financial assets are initially measured at fair value. If the financial asset is not subsequently accounted for at fair value through profit or loss, then the initial measurement includes transaction costs that are directly attributable to the asset’s acquisition or issue. On initial recognition, the Company classifies its financial assets as measured at amortized cost, FVOCI or fair value through profit or loss (“FVPL”), depending on its business model for managing the financial assets and the contractual cash flow characteristics of the financial assets. (i) Financial assets measured at amortized cost A financial asset is measured at amortized cost, using the effective interest method and net of any impairment loss, if it meets both of the following conditions and is not designated at fair value though profit or loss: ● it is held within a business model whose objective is to hold assets to collect contractual cash flows; and ● its contractual terms give rise, on specified dates, to cash flows that are solely payments of principal and interest on the principal amount outstanding. The Company currently classifies its cash and trade and other receivables as financial assets measured at amortized cost. (ii) Financial assets, measured at fair value through other comprehensive income A debt investment is measured at fair value through other comprehensive income if it meets both of the following conditions and is not designated at fair value through profit or loss: ● it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and ● its contractual terms give rise, on specified dates, to cash flows that are solely payments of principal and interest on the principal amount outstanding. These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, foreign exchange gains and losses and impairment are recognized in profit or loss. Other net gains and losses are recognized in other comprehensive income (loss). When an investment is derecognized, gains or losses accumulated in other comprehensive income (loss) are reclassified to profit or loss. (ii) Financial assets, measured at fair value through other comprehensive income (continued) On initial recognition of an equity investment that is not held for trading, the Company may irrevocably elect to present subsequent changes in the investment’s fair value in other comprehensive income (loss). This election is made on an investment-by-investment part of the cost of the investment, and other net gains and losses are recognized in other comprehensive income (loss) and are never reclassified in profit or loss. The Company currently classifies its bonds as financial assets measured at FVOCI. (iii) Financial assets measured at fair value through profit or loss All financial assets not classified as measured at amortized cost or FVOCI as described above are measured at FVPL. These assets are subsequently measured at fair value and changes therein, including any interest or dividend income, are recognized in profit or loss. The Company currently classifies its money market funds and non-hedge The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial asset are transferred. (iv) Financial liabilities Financial liabilities are classified into the following categories: ● A financial liability is classified at fair value through profit or loss if it is classified as held-for-trading, ● This category includes all financial liabilities, other than those measured at FVPL. A financial liability is subsequently measured at amortized cost using the effective interest method. The Company currently classifies accounts payable and accrued liabilities, convertible unsecured senior notes and long-term (iv) Financial liabilities (continued) The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled or expired. (v) Compound financial instruments Compound financial instruments are instruments that contain both a liability component and an equity component, and the liability component can be converted into share capital at the option of the holder and the number of shares to be issued does not vary with changes in their fair value. The liability component of a compound financial instrument is recognized initially at the fair value of a similar liability that does not have an equity conversation option. The equity component is recognized initially as the difference between the fair value of the compound financial instrument as a whole and the fair value of the liability component. Any directly attributable transaction costs are allocated to the liability and equity components in proportion to their initial carrying amounts. (vi) Derivative financial instruments Derivative financial instruments are recorded as either assets or liabilities measured at their fair value unless exempted from derivative treatment as a normal purchase and sale. Certain derivatives embedded in other contracts must also be measured at fair value. The changes in the fair value of derivatives are recognized through profit or loss in the year in which they occur. (vii) Offsetting of financial instruments Financial assets and financial liabilities are offset and the net amount presented in the consolidated statement of financial position when, and only when, the Company has a legal right to set off the amounts and intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. At each reporting date, the Company recognizes loss allowances for expected credit losses (“ECLs”) on financial assets carried at amortized cost and debt securities at FVOCI. The Company’s trade and other receivables are accounts receivable with no financing component and which have maturities of less than 12 months and, as such, the Company has chosen to apply the simplified approach for ECL. As a result, the Company does not track changes in credit risk related to its trade and other receivables, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. (viii) Impairment of financial assets For other financial assets subject to impairment, the Company measures loss allowances at an amount equal to lifetime ECLs, except for the following, which are measured at 12-month ● debt securities that are determined to have low credit risk at the reporting date; and ● other debt securities and bank balances for which credit risk (i.e. the risk of default occurring over the expected life of the financial instrument) has not increased significantly since initial recognition. The Company considers a debt security to have a low credit risk when its credit risk rating is equivalent or above investment grade credit rating, such as its bonds classified at FVOCI. The Company’s approach to ECLs reflects a probability-weighted |
Leases | Leases At inception, the Company assesses whether a contract is, or contains, a lease based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company recognizes a right-of-use Right -of -use Right-of-use right-of-use ● the initial measurement amount of the lease liabilities recognized; ● any lease payments made at or before the commencement date, less any lease incentives received; ● any initial direct costs incurred; and ● an estimate of costs to dismantle and remove the underlying asset, restore the site on which it is located or restore the underlying asset to the condition required by the terms and conditions of the lease contract. Right-of-use straight-line Right-of-use right-of-use Lease liabilities Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date over the lease term. The present value of the lease payments is determined using the lessee’s incremental borrowing rate at the commencement date if the interest rate implicit in the lease is not readily determinable. The incremental borrowing rate is a function of the lessee’s incremental borrowing rate, the nature of the underlying asset, the location of the asset, the length of the lease and the currency of the lease contract. Generally, the Company uses the lessee’s incremental borrowing rate for the present value. At the commencement date, lease payments generally include fixed payments, less any lease incentives receivable, variable lease payments that depend on an index (e.g. based on inflation index) or a specified rate, and payments of penalties for terminating the lease, if the lease term reflects the lessee exercising the option to terminate the lease. Lease payments also include amounts expected to be paid under residual value guarantees and the exercise price of a purchase option if the Company is reasonably certain to exercise that option. Variable lease payments that do not depend on an index or a specified rate are not included in the measurement of lease liabilities but instead are recognized as expenses in the period in which the event or condition that triggers the payment occurs. After the commencement date, the carrying amount of lease liabilities is increased to reflect the accretion of interest and reduced to reflect lease payments made. In addition, the carrying amount of lease liabilities is remeasured when there is a change in future lease payments arising from a change in an index or specified rate, if there is a modification to the lease terms and conditions, a change in the estimate of the amount expected to be payable under residual value guarantee, or if the Company changes its assessment of whether it will exercise a termination, extension or purchase option. The remeasurement amount of the lease liabilities is recognized as an adjustment to the right-of-use right-of-use Classification and presentation of lease -related Amortization charge for right-of-use |
Deferred Financing Costs | Deferred Financing Costs |
Provisions | Provisions A provision is recognized if, as a result of a past event, the Company has a present legal or constructive obligation that can be estimated reliably and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are assessed by discounting the expected future cash flows at a pre-tax Chargebacks and rebates Chargebacks and rebates are estimated based on historical experience, relevant statutes with respect to governmental pricing programs, and contractual sales terms. Returns Provisions for returns are estimated based on historical return levels, taking into account additional available information on contract changes. The Company reviews its methodology and adequacy of the provision for returns on a quarterly basis, adjusting for changes in assumptions, historical results and business practices, as necessary. Contingent liability A contingent liability is a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence |
Income taxes | Income taxes Income tax expense comprises current and deferred taxes. Current tax and deferred tax are recognized in net loss except to the extent that they relate to items recognized directly in other comprehensive income (loss) or in equity. Current tax Current tax is the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to tax payable in respect of previous years. The Company establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. Deferred tax Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes and deferred tax losses that can be used against taxable profit in future years. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse and to fiscal losses when they will be used, based on the laws that have been enacted or substantively enacted by the reporting date. A deferred tax liability is generally recognized for all taxable temporary differences. A deferred tax asset is recognized for unused tax losses and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be used. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. Deferred income tax is not recognized for the following temporary differences: the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting or taxable profit or loss at the time of the transaction, and, where the timing of the reversal of the temporary difference is controlled by the Company and it is probable that the temporary difference will not reverse in the foreseeable future. In addition, deferred tax is not recognized for taxable temporary differences arising from the initial recognition of goodwill. |
Share-based compensation | Share-based Share option plan The Company records share-based fair-value-based Black-Scholes Share-based equity-settled share-based Deferred stock unit plan The deferred stock units (“DSUs”) are totally vested on the date of grant and are settled in cash. When DSUs are granted to officers as part of their annual bonuses, a DSU liability is recorded on the date of grant at the market value of the common shares in place of the liability for the bonus payments. In the case of the directors, the expense related to DSUs and their liabilities are recognized on the date of grant. The liability is adjusted to reflect any change in the market value of common shares, and such change is recorded in finance costs. |
Cash Settled stock appreciation rights | Cash-settled The stock appreciation rights (“SARs”) entitle the grantee to a cash payment based on the increase in the share price of the Company’s common shares from the grant date to the settlement date. A liability is recognized for the services acquired and is recorded at the fair value of the SARs in other non-current Black-Scholes Estimating fair value requires determining the most appropriate inputs to the valuation model including the expected life of the SARs, volatility, risk-free |
Government assistance | Government assistance Government grants are recognized only when the Company has reasonable assurance that it meets the conditions and will receive the grants. Government grants related to assets are recognized in the consolidated statement of financial position as a deduction from the carrying amount of the related asset. They are then recognized in profit or loss over the estimated useful life of the amortization asset that the grants were used to acquire, as a deduction from the amortization expense. Other government grants are recognized in profit or loss as a deduction from the related expenses, such as salaries for the Canadian Emergency Wage Subsidy program. |
Research and development tax credits | Research and development tax credits The Company elected to account for non-refundable Accounting for Government Grants and Disclosure of Governmental Assistanc e Non-re fundable |
Share capital | Share capital Common shares Common shares are classified as equity. Transaction costs Costs directly attributable to the issue of common shares are recognized in equity, net of any tax effects. |
Earnings per share | Earnings per share The Company presents basic and diluted earnings per share (“EPS”) data for its common shares. Basic EPS is calculated by dividing the net profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the year. Diluted EPS is determined by adjusting the profit or loss attributable to common shareholders by taking the weighted average number of common shares outstanding and taking into consideration all dilutive potential common shares, which consist of the outstanding stock options and convertible unsecured senior notes. |
Standards issued but not yet effective | Standards issued but not yet effective A number of new standards are effective for annual periods beginning after December 1, 2021 and earlier application is permitted; however, the Company has not early adopted the new or amended standards in preparing these consolidated financial statements. Onerous contracts – Cost of Fulfilling a Contract (Amendments to IAS 37) The amendments specify which costs an entity includes in determining the cost of fulfilling a contract for the purpose of assessing whether the contract is onerous. The amendments apply for annual reporting periods beginning on or after January 1, 2022 to contracts existing at the date when the amendments are first applied. At the date of initial application, the cumulative effect of applying the amendments is recognised as an opening balance adjustment to retained earnings or other components of equity, as appropriate. The comparatives are not restated. The Company is currently evaluating the impact of the amendments on its financial statements. |
Significant accounting polici_3
Significant accounting policies (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Text Block [Abstract] | |
Summary of estimated useful lives, methods of depreciation and depreciation rates | The methods of depreciation and depreciation rates and periods are as follows: Asset Method Rate/period Computer equipment Declining balance 50% Laboratory equipment Declining balan 20% and straight-line 5 years Office furniture and equipment Declining balance 20% Leasehold improvements Straight-line Lower of lease term |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Text Block [Abstract] | |
Summary of net sales by product | Net sales by product were as follows: 2021 2020 EGRIFTA ® ® $ 43,009 $ 35,399 Trogarzo ® 26,814 30,654 $ 69,823 $ 66,053 |
Summary of revenue by geographical area | Net sales by geography were as follows: 2021 2020 Canada $ 269 $ 354 United States 68,099 65,455 Europe 1,455 244 $ 69,823 $ 66,053 |
Personnel expenses (Tables)
Personnel expenses (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Text Block [Abstract] | |
Summary of detailed information about personnel expenses | Note 2021 2020 Salaries and short-term $ 11,480 $ 7,564 Post-employment 644 458 Share-based 21(e),(g) 1,651 1,297 Termination benefits 209 876 $ 13,984 $ 10,195 |
Finance income and finance co_2
Finance income and finance costs (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Text Block [Abstract] | |
Summary of detailed information about finance income and cost | Note 2021 2020 Net foreign currency gain $ - $ 418 Interest income 195 299 Finance income 195 717 Accretion expense 17, 18, 19 (2,358) (2,056) Interest on convertible unsecured senior notes (3,306) (3,306) Bank charges (31) (40) Net foreign currency loss (926) - Loss on financial instruments carried at fair value - (9) Finance costs (6,621) (5,411) Net finance cost recognized in net profit or loss $ (6,426) $ (4,694) |
Bonds and money market funds (T
Bonds and money market funds (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Text Block [Abstract] | |
Detailed Information About Bonds And Money Market Funds | 2021 2020 Bonds $ 12,553 $ 634 Money market funds 7,402 7,397 $ 19,955 $ 8,031 |
Trade and other receivables (Ta
Trade and other receivables (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Text Block [Abstract] | |
Summary of detailed information about trade and other receivables | 2021 2020 Trade receivables $ 9,261 $ 10,947 Sales tax receivable 243 407 Other receivables 983 1,076 $ 10,487 $ 12,430 |
Tax credits and grants receiv_2
Tax credits and grants receivable (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Schedule Of Information About Unused And Unrecorded Non Refundable Federal Tax Credit [Abstract] | |
Disclosure Details Of Tax Credits Roll Forward | Balance as at November 30, 2019 $ - Tax credits and grants recognized in net loss 749 Effect of change in exchange rates 6 Balance as at November 30, 2020 $ 755 Tax credits and grants recognized in net loss 602 Tax credits and grants receive d (922 ) Effect of change in exchange rate 6 Balance as at November 30, 2021 $ 441 |
Summary of information about unused and unrecorded non refundable federal tax credit | 2024 $ 458 2025 1,365 2026 1,676 2027 2,309 2028 2,561 2029 1,726 2030 855 2031 598 2032 313 2033 207 2039 193 2040 329 204 1 330 $ 12,920 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Classes of current inventories [abstract] | |
Summary of detailed information about inventories | 2021 2020 Raw materials $ 2,142 $ 2,290 Work in progress 735 488 Finished goods 26,264 22,367 $ 29,141 $ 25,145 |
Prepaid Expenses and Deposits (
Prepaid Expenses and Deposits (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Current prepayments [abstract] | |
Summary of prepaid expenses and deposits | 2021 2020 Prepaid expenses $7,721 $4,997 Deposits 3,024 192 $10,745 $5,189 |
Property and equipment (Tables)
Property and equipment (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Summary of information about property plant equipment | Computer Laboratory Office Leasehold Total Cost Balance as at $231 $107 $334 $642 $1,314 Additions 41 - - - 41 Balance as at $272 $107 $334 $642 $1,355 Additions 106 - 1 8 115 Disposals (5) - (3) - (8) Balance as at $373 $107 $332 $650 $1,462 Accumulated depreciation Balance as at $87 $32 $58 $66 $243 Depreciation 75 18 56 98 247 Balance as at $162 $50 $114 $164 $490 Depreciation 72 19 46 100 237 Disposals (5) - (3) - (8) Balance as at $229 $69 $157 $264 $719 Net carrying amounts November 30, 2021 $144 $38 $175 $386 $743 November 30, 2020 $110 $57 $220 $478 $865 |
Right-of-use assets (Tables)
Right-of-use assets (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of right Of use Asset [Abstract] | |
Summary of right of use assets | Balance as at November 30, 2019 $ - Impact of initial adoption of IFRS 16 2,954 Amortization (441) Effect of change in exchange rates 105 Balance as at November 30, 2020 $ 2,618 Amortization (449) Effect of change in exchange rates (58) Balance as at November 30, 2021 $ 2,111 |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of detailed information about intangible assets [abstract] | |
Schedule of Intangible Assets | Commercialization ® Commercialization ® Commercialization rights – EGRIFTA SV ® Oncology Total Cost Balance as at November 30, 2019 $11,972 $7,612 $14,041 $3,449 $37,074 Additions - - - 39 39 Balance as at $11,972 $7,612 $14,041 $3,488 $37,113 Accumulated amortization Balance as at $1,158 - $8,436 - $9,594 Amortization 1,055 384 1,512 - 2,951 Balance as at $2,213 $384 $9,948 - $12,545 Amortization 1,054 615 1,511 - 3,180 Balance as at $3,267 $999 $11,459 - $15,725 Net carrying amounts November 30, 2021 $8,705 $6,613 $2,582 $3,488 $21,388 November 30, 2020 $9,759 $7,228 $4,093 $3,449 $24,529 |
Schedule of Commercial Milestone Payment | As further consideration under the TaiMed Agreement, the Company shall make the following one-time : Commercial milestone Note Commercial milestone payment (i) Achieving aggregate net sales of $20,000 over 1 7 $7,000 (paid in 2019 and 2020) (ii) Upon first achieving annual net sales of $200,000 $10,000 (iii) Upon first achieving annual net sales of $500,000 $40,000 (iv) Upon first achieving annual net sales of $1,000,000 $100,000 |
Other asset (Tables)
Other asset (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Text Block [Abstract] | |
Summary of other asset | Cost Balance as at November 30, 2019, 2020 and 2021 $ 19,530 Accumulated amortization Balance as at November 30, 2019 $ 7,326 Amortization 4,881 Balance as at November 30, 2020 $ 12,207 Amortizatio n 4,882 Balance as at November 30, 2021 $ 17,089 Net carrying amounts November 30, 2021 $ 2,441 November 30, 2020 $ 7,323 |
Accounts Payable and accured _2
Accounts Payable and accured liabilities (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Trade and other payables [abstract] | |
Accounts payable and accrued liabilities | Note 2021 2020 Trade payables $ 15,526 $ 17,510 Accrued liabilities and other payables 19,932 13,911 Salaries and benefits due to key management personnel 2 9 880 776 Employee salaries and benefits payable 1,942 724 Liability related to deferred stock unit plan 2 1 d 710 508 Accrued interest payable on convertible unsecured senior notes 1 8 1,386 1,386 $ 40,376 $ 34,815 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of other provisions [abstract] | |
Summary of provision | Chargebacks Returns Other Total Balance as at November 30, 2019 $2,182 $247 $55 $2,484 Provisions made 10,314 948 2,973 14,235 Provisions used (10,818) (935) (3,019) (14,772) Balance as at November 30, 2020 $1,678 $260 $9 $1,947 Provisions made 10,655 1,074 - 11,729 Provisions used (8,570 ) (924 ) (9 ) (9,503 ) Effect of change in exchange rate (50) - - (50) Balance as at November 30, 2021 $3,713 $410 $- $4,123 |
Other obligations (Tables)
Other obligations (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure Of Detailed Information About Long Term Obligation [Abstract] | |
Summary of movement in the other obligation | The movement in the other obligations is as follows. Commercialization ® Commercialization ® Total Balance as at November 30, 2019 $ 3,417 $ 4,570 $ 7,987 Accretion expense 83 96 179 Payment (3,500 ) - (3,500 ) Current portion as at - $ 4,666 $ 4,666 Accretion expense - 334 334 Payment - (5,000 ) (5,000 ) Current portion as at $ - $ - $ - |
Convertible unsecured senior _2
Convertible unsecured senior notes (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Convertible Senior Notes [Abstract] | |
Summary of deferred tax related to equity component of convertible notes | The movement in the carrying value of the convertible unsecured senior notes is as follows: Convertible unsecured senior notes as at November 30, 2019 $ 50,741 Accretion expense 1,662 Convertible unsecured senior notes as at November 30, 2020 $ 52,403 Accretion expense 1,824 Convertible unsecured senior notes as at November 30, 2021 $ 54,227 |
Leases liabilities (Tables)
Leases liabilities (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of Lease Liabilities [Abstract] | |
Summary of lease liabilities | Carrying value Balance as at December 1, 2019 $ 3,192 Accretion expense 215 Lease payments (568) Effect of change in exchange rates 141 Balance as at November 30, 2020 $ 2,980 Accretion expense 200 Lease payments (635) Effect of change in exchange rates (27) Balance as at November 30, 2021 $ 2,518 Current portion (463) Non-current $ 2,055 |
Other liabilities (Tables)
Other liabilities (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Other Liabilities [Abstract] | |
Summary of other liabilities | Note 2021 2020 Stock appreciation rights 2 1 e $ 94 $ 41 $ 94 $ 41 |
Share capital and warrants (Tab
Share capital and warrants (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Share Capital [Line Items] | |
Summary of the grant date weighted average fair value of SARs granted | The following table summarizes the grant date weighted average fair value of SARs granted during the year ended November 30, 2021. No SARs were granted in 2020. Number of SARs Weighted average 2021 75,000 $ 2.13 (CA$2.73) |
Summary of changes in the number of options outstanding | Changes in the number of options outstanding during the past two years were as follows: Weighted average Number CA$ US$ Options outstanding as at November 30, 2019 2,415,784 $ 3.94 $ 2.96 Granted – CA$ 1,077,721 3.06 2.25 Forfeited and expired – CA$ (229,812 ) 4.72 3.47 Exercised (share price: CA$8.65 (US$6.57)) (60,000 ) 3.38 2.40 Options outstanding as at November 30, 2020 3,203,693 $ 3.59 $ 2.76 Granted – CA$ 1,057,831 3.94 3.10 Forfeited and expired – CA$ (406,240 ) 6.61 5.26 Exercised (share price: CA$4.18 (US$3.36)) 665,000 1.11 0.89 Options outstanding as at November 30, 2021 – CA$ 3,190,284 $ 3.83 $ 3.00 Options exercisable as at November 30, 2021 – CA$ 1,630,476 $ 3.96 $ 3.10 Options exercisable as at November 30, 2020 – CA$ 2,063,672 $ 3.43 $ 2.64 Options outstanding in US$ Options as at November 30, 2020 – US$ 12,500 - 2.35 Granted – US$ 102,608 - 3.18 Forfeited – US$ (34,375 ) - 3.06 Options outstanding as at November 30, 2021 – US$ 80,733 $ - $ 3.09 Options exercisable as at November 30, 2021 – US$ 4,166 $ - $ 2.35 Options exercisable as at November 30, 2020 – US$ - $ - $ - |
Summary of the model used to determine fiar value of stock appreciation rights | the fair value of SARs granted is estimated at each reporting period using the Black-Scholes model and the following weighted average assumptions. Granted in 2019 Measurement date as at November 30, 2021 Measurement date Risk-free 1.57% 0.67% Expected volatility 59% 64.6% Average option life in years 5.2 years 6.25 years S $3.29 (CA$4.21) $2.31 (CA$3.00) Option exercise price $6.30 (CA$8.05) $6.19 (CA$8.05) Granted in 2021 Measurement date Risk-free 1.57% Expected volatility 65.5% Average option life in years 8.2 years Share price $3.29 (CA$4.21) Option exercise price $3.38 (CA$4.32) |
Summary of the following table provides stock option information | The following table provides stock option information as at November 30, 2021 (options outstanding in CA$). Price range Number of options Weighted Weighted CA$ US$ (years) CA$ US$ 0.25 – 1.19 0.19 – 0.92 314,660 1.12 0.36 0.28 2.01 – 3.75 1.55 – 2.89 1,310,453 7.32 2.80 2.19 3.76 – 6.00 2.89 – 4.62 1,108,074 8.84 4.15 3.25 6.01 – 9.00 4.62 – 6.93 318,733 6.95 7.92 6.20 9.01 – 10.00 6.93 – 1.70 138,364 6.35 9.56 7.48 3,190,284 7.16 3.83 3.00 The following table provides stock option information as at November 30, 2021 (options outstanding in US$). Price range Number of options Weighted Weighted US$ (years) US$ 2.01 – 3.75 80,733 9.32 3.09 |
Summary of Accumulated other comprehensive income (loss) (Detail) | Accumulated other comprehensive income (loss) 2021 2020 Unrealized losses on FVOCI financial assets, net of tax $ (195 ) $ 2 Cumulative exchange difference on translation of 151 (483 ) $ (44 ) $ (481 ) |
Summary of the measurement date weighted average fair value of stock options granted | The following table summarizes the measurement date weighted average fair value of stock options granted during the years ended November 30, 2021 and 2020. Options granted in CA$ Number Weighted 2021 1,057,831 $ 2.13 (CA$2.72) 2020 1,077,721 $ 1.71 (CA$2.22) Options granted in US$ Number Weighted 2021 102,608 $ 2.22 2020 12,500 $ 1.70 |
Summary of earnings per share calculation | The calculation of basic loss per share was based on the net loss attributable to common shareholders of the Company of $31,725 (2020 – $22,667) and a weighted average number of common shares outstanding of 92,350,198 (2020 – 76,991,635), calculated as follows. 2021 2020 Issued common shares as at December 1 77,013,411 76,953,411 Effect of share options exercised 374,247 38,224 Effect of public issue common shares 14,816,285 - Effect of broker warrants exercised 146,255 - Weighted average number of common shares, 92,350,198 76,991,635 |
Summary of the share-based compensation expense for the stock option plan | The fair value of options granted in 2021 and 2020 was estimated at the grant date using the Black-Scholes Options granted in CA$ 2021 2020 Risk-free 1.35% 0.95% Expected volatility 70% 74% Average option life in years 8.5 years 8.5 years Grant-date $ 3.10 (CA$3.94) $ 2.25 (CA$3.06) Option exercise price $ 3.10 (CA$3.94) $ 2.25 (CA$3.06) Options granted in US$ 2021 2020 Risk-free 1.37% 0.74% Expected volatility 72% 78% Average option life in years 8.5 years 8.5 years Grant-date $ 3.18 $ 2.35 Option exercise price $ 3.18 $ 2.35 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Major components of tax expense (income) [abstract] | |
Summary of major component of income tax and deferred tax explanatory | The following table presents the components of the current and deferred tax expenses (recovery). 2021 2020 Current tax expense $ 63 $ 16 Deferred tax expense (recovery) Origination and reversal of temporary differences $ (7,796) $ (4,890) Change in unrecognized deductible temporary differences 7,796 4,890 Total deferred tax expense (recovery) $ - $ - Total current and deferred tax expense $ 63 $ 16 |
Summary of reconciliation between effective and income tax amounts explanatory | Reconciliation between effective and applicable tax amounts 2021 2020 Income taxes at domestic tax statutory rate $ (8,390 ) $ (6,004 ) Change in unrecognized deductible temporary differences 7,796 4,890 Impact of differences in statutory tax rates 64 742 Non-deductible 593 388 Total income tax expense $ 63 $ 16 |
Summary of temporary difference, unused tax losses and unused tax credits | As at November 30, unrecognized deferred tax assets were as follows. 2021 2020 Research and development expenses $ 26,046 $ 24,924 Non-capital 38,615 31,725 Property and equipment 225 242 Intellectual property and patent fees 3,054 2,952 Available deductions and other 7,535 5,045 $ 75,475 $ 64,888 |
Summary of amounts and expiry dates of tax attributes carry forward explanatory | As at November 30, 2021 and 2020, the amounts and expiry dates of Canadian tax attributes for which no deferred tax asset was recognized were as follows: 2021 2020 Federal Provincial Federal Provincial Research and development expenses, without time limitation $ 89,740 $ 109,034 $ 85,792 $ 104,822 Losses carried forward 2027 5,960 5,952 5,760 5,753 2028 36,877 17,949 35,640 17,347 2029 15,513 13,111 14,993 12,672 2030 9,109 9,105 8,803 8,800 2031 18,758 16,651 18,129 16,092 2032 12,709 11,669 12,282 11,278 2033 9,132 9,046 8,826 8,742 2034 8,362 8,289 8,082 8,011 2037 7,462 7,373 7,212 7,126 2038 2,177 2,095 2,104 2,025 2039 1,434 1,394 1,386 1,347 2040 7,832 7,805 6,928 6,921 2041 21,220 21,153 - - Other temporary differences, without time limitation Excess of tax value of property and equipment over carrying value 869 838 959 870 Excess of tax value of intellectual property and patent fees over carrying value 11,522 11,518 11,136 11,131 Available deductions and other 60,940 16,607 50,470 7,619 |
Supplemental cash flow disclo_2
Supplemental cash flow disclosures (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Supplemental cash flow disclosures [abstract] | |
Summary of supplemental cash flow disclosures | The Company entered into the following transactions, which had no impact on its cash flows. 2021 2020 Additions to property and equipment included in accounts payable and accrued liabilities $ - $ 12 Deferred financing costs included in accounts payable and accrued liabilities 174 - Initial recognition of right-of-use - 3,192 Reclassification of other liabilities to right-of-use-assets - 238 |
Financial instruments (Tables)
Financial instruments (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of detailed information about financial instruments [abstract] | |
Summary of maturity analysis for non-derivative financial liabilities | 2021 Carrying Total Less From More than 3 years Accounts payable and accrued liabilities $40,376 $40,376 $40,376 - - Convertible unsecured senior notes, including interest 54,227 64,113 3,306 60,807 - Lease liabilities 2,518 2,973 624 1,275 1,074 $97,121 $107,462 $44,306 $62,082 $1,074 2020 Carrying Total Less From More than 3 years Accounts payable and accrued liabilities $34,815 $34,815 $34,815 - - Convertible unsecured senior notes, including interest 52,403 67,419 3,306 64,113 - Long-term 4,666 5,000 5,000 - - Lease liabilities 2,980 3,640 621 1,267 1,752 $94,864 $110,874 $43,742 $65,380 $1,752 |
Summary of currency risk exposure explanatory | 2021 2020 CA$ EURO CA$ EURO Cash 589 61 871 36 Bonds and money market funds 16,298 - 821 - Trade and other receivables 331 1,553 522 1,052 Tax credits and grants receivable 385 123 942 25 Accounts payables and accrued liabilitie s (6,819) (7,256) (4,937 ) (4,496) Lease liabilities (1,755 ) (1,010 ) (2,109) (1,138) Provisions - (1,970 ) - - Total exposure 9,029 (8,499 ) (3,890) (4,521) |
Summary of applicable exchange rates explanatory | The following exchange rates are those applicable as at November 30, 2021 and 2020. 2021 2020 Average rate Reporting date rate Average rate Reporting date rate CA$ – US$ 0,797 0,782 0.7445 0.7695 Euro – US$ 1,190 1,133 1.1325 1.1928 |
Disclosure of effect of changes in foreign exchange rates | 2021 2020 CA$ EURO CA$ EURO Positive (negative) impact 451 (425) (195) (226) |
Operating segments (Tables)
Operating segments (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Disclosure of operating segments [abstract] | |
Summary of operating segments | 2021 2020 RxCrossroads $ 68,917 $ 63,909 Others 906 2,144 $ 69,823 $ 66,053 |
Related parties (Tables)
Related parties (Tables) | 12 Months Ended |
Nov. 30, 2021 | |
Related party transactions [abstract] | |
Summary of key management personnel compensation comprises | Key management personnel compensation comprises: 2021 2020 Short-term $ 2,690 $ 2,384 Post-employment 72 97 Share-based 1,243 925 Termination benefits - 864 $ 4,005 $ 4,270 |
Basis of preparation - Addition
Basis of preparation - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Canadian Emergency Wage Subsidy Program [Member] | ||
Basis of Presentation [Line Items] | ||
Other income (expense) from subsidiaries | $ 325 | $ 453 |
Significant accounting polici_4
Significant accounting policies - Summary of methods of depreciation (Detail) | 12 Months Ended |
Nov. 30, 2021 | |
Computer equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Depreciation method, property, plant and equipment | Declining balance |
Depreciation rate, property, plant and equipment | 50.00% |
Laboratory equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Depreciation method, property, plant and equipment | Declining balance and straight-line |
Depreciation rate, property, plant and equipment | 20.00% |
Useful life measured as period of time, property, plant and equipment | 5 years |
Office furniture and equipment | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Depreciation method, property, plant and equipment | Declining balance |
Depreciation rate, property, plant and equipment | 20.00% |
Leasehold improvements | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Depreciation method, property, plant and equipment | Straight-line |
Description of useful life, property, plant and equipment | Lower of lease term and economic life |
Significant accounting polici_5
Significant accounting policies - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets amortization method | straight-line basis | |
Other Assets | ||
Disclosure of detailed information about intangible assets [line items] | ||
Amortization of other assets | 48 months | |
Commercialization Rights EGRIFTA | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets finite useful lives | 111 months | |
Commercialization Rights Trogarzo | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets finite useful lives | 142 months | |
Capitalised development expenditure [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Development expenditures capitalized | $ 0 | $ 0 |
THTX Commercialization Rights Trogarzo North America [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets finite useful lives | 148 months |
Revenue - Schedule of net sale
Revenue - Schedule of net sale by product (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | $ 69,823 | $ 66,053 |
Europe | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 1,455 | 244 |
EGRIFTA® net sales | Europe | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | 43,009 | 35,399 |
Trogarzo® net sales | Europe | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Revenue | $ 26,814 | $ 30,654 |
Revenue - Schedule of disaggreg
Revenue - Schedule of disaggregation revenue by geographical area (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Disaggregation Of Revenue By Geographical Area [Line Items] | ||
Revenue | $ 69,823 | $ 66,053 |
Canada [Member] | ||
Disaggregation Of Revenue By Geographical Area [Line Items] | ||
Revenue | 269 | 354 |
United States [Member] | ||
Disaggregation Of Revenue By Geographical Area [Line Items] | ||
Revenue | 68,099 | 65,455 |
Europe | ||
Disaggregation Of Revenue By Geographical Area [Line Items] | ||
Revenue | $ 1,455 | $ 244 |
Personnel expenses - Summary of
Personnel expenses - Summary of detailed information about personnel expenses (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Disclosure Of Personnel Expenses Explanatory [Abstract] | ||
Salaries and short-term employee benefits | $ 11,480 | $ 7,564 |
Post-employment benefits | 644 | 458 |
Share-based compensation | 1,651 | 1,297 |
Termination benefits | 209 | 876 |
Employee benefits expense | $ 13,984 | $ 10,195 |
Finance income and finance co_3
Finance income and finance costs - Summary of detailed information about finance income and cost (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Schedule Of Detail Information About Finance Income And Costs [Abstract] | ||
Net foreign currency gain | $ 418 | |
Interest income | $ 195 | 299 |
Finance income | 195 | 717 |
Accretion expense | (2,358) | (2,056) |
Interest on convertible unsecured senior notes | (3,306) | (3,306) |
Bank charges | (31) | (40) |
Net foreign currency loss | (926) | |
Loss on financial instruments carried at fair value | (9) | |
Finance costs | (6,621) | (5,411) |
Finance income cost | $ (6,426) | $ (4,694) |
Bonds and money market funds -
Bonds and money market funds - Summary of detailed information about bonds and money market funds (Detail) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Schedule Of Detailed Information About Bonds And Money Market Funds Abstract [Abstract] | ||
Bonds | $ 12,553 | $ 634 |
Money market funds | 7,402 | 7,397 |
Bonds and money market funds | $ 19,955 | $ 8,031 |
Bonds and money market funds _2
Bonds and money market funds - Additional information (Detail) | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Disclosure of detailed information about Financial Assets [Line Items] | ||
Average maturity period | 2 years 3 months 3 days | 21 days |
Bottom of range | ||
Disclosure of detailed information about Financial Assets [Line Items] | ||
Stated interest rate | 0.50% | 2.20% |
Top of range | ||
Disclosure of detailed information about Financial Assets [Line Items] | ||
Stated interest rate | 3.90% | 4.10% |
Trade and other receivables -Su
Trade and other receivables -Summary of detailed information about trade and other receivables (Detail) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Schedule of Detailed Information About Trade and Other Receivables [Abstract] | ||
Trade receivables | $ 9,261 | $ 10,947 |
Sales tax receivable | 243 | 407 |
Other receivables | 983 | 1,076 |
Total | $ 10,487 | $ 12,430 |
Tax credits and grants receiv_3
Tax credits and grants receivable - Disclosure Details Of Tax Credits Roll Forward (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Disclosure of Tax Credits and Grants Receivable | ||
Beginning balance | $ 755 | |
Tax credits and grants recognized in net loss | 602 | $ 749 |
Tax Credits And Grants Received | (922) | |
Effect of change in exchange rates | 6 | 6 |
Ending balance | $ 441 | $ 755 |
Tax credits and grants receiv_4
Tax credits and grants receivable - Summary of information about unused and unrecorded non refundable federal tax credit (Detail) $ in Thousands | Nov. 30, 2021USD ($) |
Statement [line items] | |
Deferred tax assets | $ 330 |
Unused tax credits | |
Statement [line items] | |
Deferred tax assets | 12,920 |
Income tax expire 2024 | Unused tax credits | |
Statement [line items] | |
Deferred tax assets | 458 |
Income tax expire 2025 | Unused tax credits | |
Statement [line items] | |
Deferred tax assets | 1,365 |
Income tax expire 2026 | Unused tax credits | |
Statement [line items] | |
Deferred tax assets | 1,676 |
Income tax expire 2027 | Unused tax credits | |
Statement [line items] | |
Deferred tax assets | 2,309 |
Income tax expire 2028 | Unused tax credits | |
Statement [line items] | |
Deferred tax assets | 2,561 |
Income tax expire 2029 | Unused tax credits | |
Statement [line items] | |
Deferred tax assets | 1,726 |
Income tax expire 2030 | Unused tax credits | |
Statement [line items] | |
Deferred tax assets | 855 |
Income tax expire 2031 | Unused tax credits | |
Statement [line items] | |
Deferred tax assets | 598 |
Income tax expire 2032 | Unused tax credits | |
Statement [line items] | |
Deferred tax assets | 313 |
Income tax expire 2033 | Unused tax credits | |
Statement [line items] | |
Deferred tax assets | 207 |
Income tax expire 2039 | Unused tax credits | |
Statement [line items] | |
Deferred tax assets | 193 |
Income tax expire 2040 | Unused tax credits | |
Statement [line items] | |
Deferred tax assets | $ 329 |
Inventories - Summary of detail
Inventories - Summary of detailed information about inventories (Detail) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Classes of current inventories [abstract] | ||
Raw materials | $ 2,142 | $ 2,290 |
Work in progress | 735 | 488 |
Finished goods | 26,264 | 22,367 |
Total Inventories | $ 29,141 | $ 25,145 |
Inventories - Additional Inform
Inventories - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Statement [line items] | ||
Inventory writedown | $ 21 | $ 917 |
Provision of inventories | 660 | |
Cost of sales | ||
Statement [line items] | ||
Inventory writedown | 0 | 910 |
Reversal of inventory write down | 51 | 0 |
Cost of goods sold | ||
Statement [line items] | ||
Inventory writedown | $ 30 | $ 7 |
Prepaid Expenses and Deposits -
Prepaid Expenses and Deposits - Summary of Prepaid Expenses and Deposits (Detail) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Current prepayments [abstract] | ||
Current prepaid expenses | $ 7,721 | $ 4,997 |
Current advances to suppliers | 3,024 | 192 |
Prepaid Expenses and Deposits | $ 10,745 | $ 5,189 |
Property and equipment - Summar
Property and equipment - Summary of information about property plant equipment (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Cost | ||
Beginning Balance | $ 865 | |
Ending Balance | 743 | $ 865 |
Net carrying amounts | ||
Property and equipment | 743 | 865 |
Cost | ||
Cost | ||
Beginning Balance | 1,355 | 1,314 |
Additions | 115 | 41 |
Disposals | (8) | |
Ending Balance | 1,462 | 1,355 |
Net carrying amounts | ||
Property and equipment | 1,462 | 1,355 |
Accumulated depreciation | ||
Accumulated depreciation | ||
Beginning Balance | 490 | 243 |
Depreciation | 237 | 247 |
Disposals | (8) | |
Ending Balance | 719 | 490 |
Computer equipment | ||
Cost | ||
Beginning Balance | 110 | |
Ending Balance | 144 | 110 |
Net carrying amounts | ||
Property and equipment | 144 | 110 |
Computer equipment | Cost | ||
Cost | ||
Beginning Balance | 272 | 231 |
Additions | 106 | 41 |
Disposals | (5) | |
Ending Balance | 373 | 272 |
Net carrying amounts | ||
Property and equipment | 373 | 272 |
Computer equipment | Accumulated depreciation | ||
Accumulated depreciation | ||
Beginning Balance | 162 | 87 |
Depreciation | 72 | 75 |
Disposals | (5) | |
Ending Balance | 229 | 162 |
Laboratory equipment | ||
Cost | ||
Beginning Balance | 57 | |
Ending Balance | 38 | 57 |
Net carrying amounts | ||
Property and equipment | 38 | 57 |
Laboratory equipment | Cost | ||
Cost | ||
Beginning Balance | 107 | 107 |
Ending Balance | 107 | 107 |
Net carrying amounts | ||
Property and equipment | 107 | 107 |
Laboratory equipment | Accumulated depreciation | ||
Accumulated depreciation | ||
Beginning Balance | 50 | 32 |
Depreciation | 19 | 18 |
Ending Balance | 69 | 50 |
Office furniture and equipment | ||
Cost | ||
Beginning Balance | 220 | |
Ending Balance | 175 | 220 |
Net carrying amounts | ||
Property and equipment | 175 | 220 |
Office furniture and equipment | Cost | ||
Cost | ||
Beginning Balance | 334 | 334 |
Additions | 1 | |
Disposals | (3) | |
Ending Balance | 332 | 334 |
Net carrying amounts | ||
Property and equipment | 332 | 334 |
Office furniture and equipment | Accumulated depreciation | ||
Accumulated depreciation | ||
Beginning Balance | 114 | 58 |
Depreciation | 46 | 56 |
Disposals | (3) | |
Ending Balance | 157 | 114 |
Leasehold improvements | ||
Cost | ||
Beginning Balance | 478 | |
Ending Balance | 386 | 478 |
Net carrying amounts | ||
Property and equipment | 386 | 478 |
Leasehold improvements | Cost | ||
Cost | ||
Beginning Balance | 642 | 642 |
Additions | 8 | |
Ending Balance | 650 | 642 |
Net carrying amounts | ||
Property and equipment | 650 | 642 |
Leasehold improvements | Accumulated depreciation | ||
Accumulated depreciation | ||
Beginning Balance | 164 | 66 |
Depreciation | 100 | 98 |
Ending Balance | $ 264 | $ 164 |
Right-of-use assets - Disclosur
Right-of-use assets - Disclosure of right of use asset (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Disclosure of right Of use Asset [Abstract] | ||
Beginning balance | $ 2,618 | |
Impact of initial adoption of IFRS 16 (Note 1(a)) | 2,954 | |
Amortization | (449) | (441) |
Effect of change in exchange rates | (58) | 105 |
Ending balance | $ 2,111 | $ 2,618 |
Intangible asset - Summary of I
Intangible asset - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Cost | ||
Beginning Balance | $ 24,529 | |
Ending Balance | 21,388 | $ 24,529 |
Net carrying amounts | ||
Intangible assets | 21,388 | 24,529 |
Cost | ||
Cost | ||
Beginning Balance | 37,074 | |
Additions | 39 | |
Ending Balance | 37,113 | 37,074 |
Net carrying amounts | ||
Intangible assets | 37,113 | 37,074 |
Cost | Commercialization Rights Trogarzo North America | ||
Cost | ||
Beginning Balance | 11,972 | |
Ending Balance | 11,972 | 11,972 |
Net carrying amounts | ||
Intangible assets | 11,972 | 11,972 |
Cost | Commercialization rights- Trogarzo®European Territory | ||
Cost | ||
Beginning Balance | 7,612 | |
Ending Balance | 7,612 | 7,612 |
Net carrying amounts | ||
Intangible assets | 7,612 | 7,612 |
Cost | Commercialization rights – EGRIFTA SV® | ||
Cost | ||
Beginning Balance | 14,041 | |
Ending Balance | 14,041 | 14,041 |
Net carrying amounts | ||
Intangible assets | 14,041 | 14,041 |
Cost | Oncology Platform | ||
Cost | ||
Beginning Balance | 3,449 | |
Additions | 39 | |
Ending Balance | 3,488 | 3,449 |
Net carrying amounts | ||
Intangible assets | 3,488 | 3,449 |
Accumulated amortization | ||
Accumulated amortization | ||
Beginning balance | 12,545 | 9,594 |
Amortization | 3,180 | 2,951 |
Ending Balance | 15,725 | 12,545 |
Accumulated amortization | Commercialization Rights Trogarzo North America | ||
Accumulated amortization | ||
Beginning balance | 2,213 | 1,158 |
Amortization | 1,054 | 1,055 |
Ending Balance | 3,267 | 2,213 |
Accumulated amortization | Commercialization rights- Trogarzo®European Territory | ||
Accumulated amortization | ||
Beginning balance | 384 | |
Amortization | 615 | 384 |
Ending Balance | 999 | 384 |
Accumulated amortization | Commercialization rights – EGRIFTA SV® | ||
Accumulated amortization | ||
Beginning balance | 9,948 | 8,436 |
Amortization | 1,511 | 1,512 |
Ending Balance | 11,459 | 9,948 |
Accumulated amortization | Oncology Platform | ||
Accumulated amortization | ||
Ending Balance | 0 | |
Net Carrying Amount [Member] | ||
Cost | ||
Beginning Balance | 24,529 | |
Ending Balance | 21,388 | 24,529 |
Net carrying amounts | ||
Intangible assets | 21,388 | 24,529 |
Net Carrying Amount [Member] | Commercialization Rights Trogarzo North America | ||
Cost | ||
Beginning Balance | 9,759 | |
Ending Balance | 8,705 | 9,759 |
Net carrying amounts | ||
Intangible assets | 8,705 | 9,759 |
Net Carrying Amount [Member] | Commercialization rights- Trogarzo®European Territory | ||
Cost | ||
Beginning Balance | 7,228 | |
Ending Balance | 6,613 | 7,228 |
Net carrying amounts | ||
Intangible assets | 6,613 | 7,228 |
Net Carrying Amount [Member] | Commercialization rights – EGRIFTA SV® | ||
Cost | ||
Beginning Balance | 4,093 | |
Ending Balance | 2,582 | 4,093 |
Net carrying amounts | ||
Intangible assets | 2,582 | 4,093 |
Net Carrying Amount [Member] | Oncology Platform | ||
Cost | ||
Beginning Balance | 3,449 | |
Ending Balance | 3,488 | 3,449 |
Net carrying amounts | ||
Intangible assets | $ 3,488 | $ 3,449 |
Intangible assets - Summary of
Intangible assets - Summary of Commercial Milestone Payment (Detail) $ in Thousands | Nov. 30, 2021USD ($) |
Disclosure of detailed information about intangible assets [line items] | |
Initial milestone payments payable aggregate annual installments | $ 7,000 |
Upon first achieving annual net sales of US$ 200,000 | |
Disclosure of detailed information about intangible assets [line items] | |
Initial Milestone Payments Payable | 10,000 |
Upon first achieving annual net sales of US$ 500,000 | |
Disclosure of detailed information about intangible assets [line items] | |
Initial Milestone Payments Payable | 40,000 |
Upon first achieving annual net sales of US$ 1,000,000 | |
Disclosure of detailed information about intangible assets [line items] | |
Initial Milestone Payments Payable | $ 100,000 |
Intangible assets - Additional
Intangible assets - Additional Information (Detail) $ in Thousands, $ in Thousands | Sep. 26, 2019 | Mar. 17, 2017USD ($)shares | Mar. 06, 2017 | Nov. 30, 2021USD ($) | Nov. 30, 2021CAD ($) | Nov. 30, 2020USD ($) | Nov. 30, 2019USD ($)shares | Nov. 30, 2019CAD ($) | Nov. 30, 2017USD ($) | Nov. 30, 2016USD ($) | Nov. 30, 2021CAD ($) | Mar. 31, 2021shares | Nov. 30, 2019CAD ($)shares | May 15, 2018shares | Dec. 01, 2017USD ($) | Dec. 01, 2016USD ($) | Mar. 31, 2016USD ($) |
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Amortisation Expense | $ 3,180 | $ 2,951 | |||||||||||||||
Net sales | 69,823 | 66,053 | |||||||||||||||
Number of shares issued and fully paid | shares | 481,928 | ||||||||||||||||
Trogarzo | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Description for purchase price | The purchase price of Trogarzo® for sales occurring in a country forming part of the European Territory is set at (i) 52% of the net selling price of Trogarzo® in such country on annual net sales in such country up to, or equal to, $50,000 and (ii) an amount equal to 57% of the net selling price of Trogarzo® in such country on the portion of annual net sales of Trogarzo® in the European Territory that exceeds annual net sales of Trogarzo® in the European Territory of $50,000. | ||||||||||||||||
Europe [Member] | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Net sales | 1,455 | $ 244 | |||||||||||||||
Upon first achieving annual net sales of US$ 500,000 | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Initial payments | 40,000 | ||||||||||||||||
Upon first achieving annual net sales of US$ 1,000,000 | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Initial payments | 100,000 | ||||||||||||||||
Katana | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Number of shares issued | shares | 481,928 | ||||||||||||||||
Acquisition of intangible assets during the year | $ 3,073 | ||||||||||||||||
Business combination cash consideration transferred | 1,965 | ||||||||||||||||
Business combination shares value of consideration | $ 5 | ||||||||||||||||
Business combination number of shares issued | shares | 900 | 900 | |||||||||||||||
Business combination acquisition costs | $ 75 | ||||||||||||||||
Business combination contingent consideration fair value | 1,028 | ||||||||||||||||
Katana Amendment Agreement | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Acquisition of intangible assets during the year | 376 | $ 500 | |||||||||||||||
Business combination adjustment to the purchase consideration | 1,080 | ||||||||||||||||
Subsidy or grants received | $ 1,200 | ||||||||||||||||
Regulatory payable milestone related | $ 200 | ||||||||||||||||
Katana Amendment Agreement | Business Combination Adjustment To Consideration Installment One | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Business combination cash consideration transferred | $ 500 | ||||||||||||||||
Katana Amendment Agreement | Business Combination Adjustment To Consideration Installment Two | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Business combination contingent consideration | 580 | ||||||||||||||||
Katana Amendment Agreement | Royalty Related License Peptides | First Five Years | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Annual maintenance fees | $ 25 | ||||||||||||||||
Katana Amendment Agreement | Royalty Related License Peptides | After Five Years | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Annual maintenance fees | $ 100 | ||||||||||||||||
Katana Amendment Agreement | Development Milestone Phase One Clinical Trial | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Milestone amount payable | $ 39 | 50 | |||||||||||||||
Katana Amendment Agreement | Development Milestone Phase Two Clinical Trial | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Milestone amount payable | 100 | ||||||||||||||||
Katana Amendment Agreement | Development Milestone Phase Three Clinical Trial | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Milestone amount payable | 200 | ||||||||||||||||
Katana Amendment Agreement | Top of range | Net Sales Basis | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Royalty fees in percentage | 2.50% | 2.50% | |||||||||||||||
Katana Amendment Agreement | Top of range | Royalty Revenue Sublicense Basis | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Royalty fees in percentage | 15.00% | 15.00% | |||||||||||||||
Katana Amendment Agreement | Bottom of range | Net Sales Basis | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Royalty fees in percentage | 1.00% | 1.00% | |||||||||||||||
Katana Amendment Agreement | Bottom of range | Royalty Revenue Sublicense Basis | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Royalty fees in percentage | 5.00% | 5.00% | |||||||||||||||
Taimed Agreement | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Upfront payment | $ 3,000 | ||||||||||||||||
Percentage of milestone payable | 5.00% | ||||||||||||||||
Number of shares issued | shares | 906,077 | ||||||||||||||||
Additions to intangibles | $ 3,055 | $ 5,207 | |||||||||||||||
Acquisition costs | 55 | $ 207 | |||||||||||||||
Launch milestone payable | $ 10,000 | ||||||||||||||||
Percentage of milestone payments | 50.00% | ||||||||||||||||
Milestone Payments annual installment | $ 1,500 | ||||||||||||||||
Additions to intangibles Through cash payment | $ 1,000 | ||||||||||||||||
Additions to intangibles Through share based payment | 4,000 | ||||||||||||||||
Taimed Agreement | Milestone One | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Net sales | 20,000 | ||||||||||||||||
Launch milestone payable | $ 5,000 | ||||||||||||||||
Taimed Agreement | Milestone One | Europe [Member] | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Net sales | $ 50,000 | ||||||||||||||||
Taimed Agreement | Upon first achieving annual net sales of US$ 50,000 | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Launch milestone payable | 5,000 | ||||||||||||||||
Taimed Agreement | Upon first achieving annual net sales of US$ 150,000 | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Initial And Milestone Payments | 10,000 | ||||||||||||||||
Taimed Agreement | Upon first achieving annual net sales of US$ 500,000 | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Initial milestone periodic payment instalment | 20,000 | ||||||||||||||||
Taimed Agreement | Upon first achieving annual net sales of US$ 1,000,000 | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Initial And Milestone Payments | 50,000 | ||||||||||||||||
Taimed Agreement | Ordinary shares | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Number of shares issued | shares | 1,463,505 | ||||||||||||||||
Taimed Agreement | Commercialization rights- Trogarzo® North American Territory | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Intangible Asset Purchase Consideration | 52.00% | ||||||||||||||||
Initial payments | $ 5,000 | ||||||||||||||||
Taimed Agreement | Commercialization rights- Trogarzo® North American Territory | Launch Milestone One | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Milestone amount payable | 4,557 | ||||||||||||||||
Milestone amount payable undiscounted | $ 5,000 | $ 5,000 | |||||||||||||||
Taimed Agreement | Commercialization rights- Trogarzo® North American Territory | Ordinary shares | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Number of shares issued | shares | 1,463,505 | ||||||||||||||||
Taimed Agreement | Commercialization Rights Trogarzo | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Intangible Assets Agreement Term | 12 years | ||||||||||||||||
Launch milestone payable | $ 5,000 | ||||||||||||||||
License Agreement Transfer Plus L P | Katana | Milestone Phase Two Live Demonstration | |||||||||||||||||
Disclosure of detailed information about intangible assets [line items] | |||||||||||||||||
Business combination contingent consideration | $ 2,300 |
Other asset - Summary of detail
Other asset - Summary of detailed information about other asset (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Nov. 30, 2021 | Nov. 30, 2020 | Nov. 30, 2019 | |
Cost | |||
Ending balance | $ 19,530 | $ 19,530 | $ 19,530 |
Accumulated amortization | |||
Beginning balance | 12,207 | 7,326 | |
Amortization | 4,882 | 4,881 | |
Ending balance | 17,089 | 12,207 | |
Net carrying amounts | $ 2,441 | $ 7,323 |
Other asset - Additional Inform
Other asset - Additional Information (Detail) $ in Thousands | May 29, 2018USD ($) |
Due with one year | |
Other asset [line items] | |
Contractual obligations | $ 4,000 |
Serono Inc | 2013 Termination agreement | |
Other asset [line items] | |
Contractual obligations | 28,200 |
Performance obligation final settlement amount | 23,850 |
Serono Inc | 2013 Termination agreement | Due with one year | |
Other asset [line items] | |
Contractual obligations | 4,000 |
Serono Inc | 2013 Termination agreement | Due in next four to five years | |
Other asset [line items] | |
Contractual obligations | $ 24,200 |
Accounts payable and accrued li
Accounts payable and accrued liabilities - Summary of accounts payable and accrued liabilities (Detail) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Trade And Other Payables [Line Items] | ||
Trade payables | $ 15,526 | $ 17,510 |
Accrued liabilities and other payables | 19,932 | 13,911 |
Salaries and benefits due to key management personnel | 880 | 776 |
Employee salaries and benefits payable | 1,942 | 724 |
Liability related to deferred stock unit plan | 710 | 508 |
Accrued interest payable on convertible unsecured senior notes | 1,386 | 1,386 |
Total | $ 40,376 | $ 34,815 |
Provisions - Summary of provisi
Provisions - Summary of provision (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Disclosure of other provisions [line items] | ||
Beginning Balance | $ 1,947 | $ 2,484 |
Provisions made | 11,729 | 14,235 |
Provisions used | (9,503) | (14,772) |
Effect of changes in exchanges rate | (50) | |
Ending Balance | 4,123 | 1,947 |
Chargebacks and rebates | ||
Disclosure of other provisions [line items] | ||
Beginning Balance | 1,678 | 2,182 |
Provisions made | 10,655 | 10,314 |
Provisions used | (8,570) | (10,818) |
Effect of changes in exchanges rate | (50) | |
Ending Balance | 3,713 | 1,678 |
Returns | ||
Disclosure of other provisions [line items] | ||
Beginning Balance | 260 | 247 |
Provisions made | 1,074 | 948 |
Provisions used | (924) | (935) |
Ending Balance | 410 | 260 |
Other | ||
Disclosure of other provisions [line items] | ||
Beginning Balance | 9 | 55 |
Provisions made | 2,973 | |
Provisions used | $ (9) | (3,019) |
Ending Balance | $ 9 |
Other obligations - Summary of
Other obligations - Summary of movement in the Other obligations obligation (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Disclosure of detailed information about Long-Term Obligation [Line Items] | ||
Beginning balance | $ 7,987 | |
Accretion expense | $ 334 | 179 |
Payments | (5,000) | (3,500) |
Current portion | 0 | 4,666 |
Commercialization rights- Trogarzo® North American Territory | ||
Disclosure of detailed information about Long-Term Obligation [Line Items] | ||
Beginning balance | 3,417 | |
Accretion expense | 0 | 83 |
Payments | 0 | (3,500) |
Current portion | 0 | |
Commercialization rights- Trogarzo®European Territory | ||
Disclosure of detailed information about Long-Term Obligation [Line Items] | ||
Beginning balance | 4,570 | |
Accretion expense | 334 | 96 |
Payments | (5,000) | |
Current portion | $ 0 | $ 4,666 |
Other obligations - Additional
Other obligations - Additional information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Nov. 30, 2021 | Nov. 30, 2020 | Jun. 30, 2020 | Nov. 30, 2019 | |
Disclosure of detailed information about Long-Term Obligation [Line Items] | ||||
Initial milestone payments payable aggregate annual installments | $ 7,000 | |||
Revenue estimate | 69,823 | $ 66,053 | ||
Taimed Agreement | Milestone One | ||||
Disclosure of detailed information about Long-Term Obligation [Line Items] | ||||
Revenue estimate | 20,000 | |||
Taimed Agreement | Milestone One | Scenario Forecast One | ||||
Disclosure of detailed information about Long-Term Obligation [Line Items] | ||||
Initial milestone payments payable aggregate annual installments | 7,000 | |||
Initial milestone periodic payment instalment | 3,500 | |||
Initial milestone periodic payment instalment | $ 3,500 | |||
Taimed Agreement | Launch Milestone One | Commercialization Rights Trogarzo North America [Member] | ||||
Disclosure of detailed information about Long-Term Obligation [Line Items] | ||||
Milestone amount payable undiscounted | $ 5,000 | $ 5,000 |
Convertible unsecured senior _3
Convertible unsecured senior notes - Additional Information (Detail) - Convertible Notes [Member] - USD ($) $ / shares in Units, $ in Thousands | Jun. 19, 2018 | Nov. 30, 2021 |
Convertible senior notes [line items] | ||
Principal amount | $ 57,500 | |
Interest rate | 5.75% | |
Effective interest rate | 9.95% | |
Conversion price | $ 14.85 | |
Convertible instruments number of shares issued | 3,872,053 | |
Percenrage of current market price on conversion price | 130.00% |
Convertible unsecured senior _4
Convertible unsecured senior notes - Summary of deferred tax related to equity component of convertible notes (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Convertible senior notes [line items] | ||
Convertible unsecured senior notes, Beginning balance | $ 52,403 | |
Accretion expense | 334 | $ 179 |
Convertible unsecured senior notes, Ending balance | 54,227 | 52,403 |
Liability component | ||
Convertible senior notes [line items] | ||
Convertible unsecured senior notes, Beginning balance | 52,403 | 50,741 |
Accretion expense | 1,824 | 1,662 |
Convertible unsecured senior notes, Ending balance | $ 54,227 | $ 52,403 |
Leases liabilities - Summary of
Leases liabilities - Summary of lease liabilities (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Disclosure of Lease Liabilities [Abstract] | ||
Balance as at December 1, 2019 | $ 2,980 | $ 3,192 |
Accretion expense | 200 | 215 |
Lease payments | (635) | (568) |
Effect of change in exchange rates | (27) | 141 |
Balance as at November 30, 2020 | 2,518 | 2,980 |
Current portion | (463) | (425) |
Non-current portion | $ 2,055 | $ 2,555 |
Other liabilities - Schedule of
Other liabilities - Schedule of other liabilities (Details) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Other Liabilities [Abstract] | ||
Stock appreciation rights | $ 94 | $ 41 |
Other non-current non-financial liabilities | $ 94 | $ 41 |
Share Capital and warrants - Ad
Share Capital and warrants - Additional information (Detail) $ / shares in Units, $ in Thousands | Nov. 30, 2021USD ($)shares | Jul. 23, 2021USD ($) | Jan. 19, 2021USD ($)$ / sharesshares | Oct. 04, 2018 | Nov. 30, 2021USD ($)yrshares$ / shares | Nov. 30, 2020USD ($)sharesyr$ / shares | Mar. 31, 2021shares |
Disclosure of classes of share capital [line items] | |||||||
Share based compensation expense | $ 1,651 | $ 1,297 | |||||
Deferred stock liability | $ 710 | 710 | 508 | ||||
Change in fair value | $ 209 | $ (157) | |||||
Exercise period of options | yr | 5.2 | 6.25 | |||||
SAR Contractual Life | 10 years | ||||||
Net loss attributable to common stock holders of the company | $ 31,725 | $ 22,667 | |||||
Weighted average number of common shares outstanding | shares | 92,350,198 | 76,991,635 | |||||
Effect of share options number of ordinary shares | shares | 3,271,017 | 3,216,193 | |||||
Broker options common shares potentially issuable | shares | 3,872,053 | ||||||
Potential conversion of aggregate principal amount | $ 57,500 | ||||||
Number of shares issued and fully paid | shares | 481,928 | ||||||
Issued capital | $ 335,752 | $ 335,752 | $ 287,312 | ||||
Effect of share options number of Warrants shares | shares | 8,130,550 | 0 | |||||
ATM program [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Number of shares issued and fully paid | shares | 0 | 0 | |||||
Consideration received on transaction | $ 50,000 | ||||||
Percentage of fixed commission rate on gross sales price | 3.00% | ||||||
Payments of financing costs | $ 621 | ||||||
Public Offering [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Par value per share | $ / shares | $ 2.75 | ||||||
Number of shares issued and fully paid | shares | 16,727,900 | ||||||
Proceeds from issuing shares | $ 46,002 | ||||||
Common stock, Conversion basis | one-half of one | ||||||
Class of warrant or right, Number of securities called by each warrant or right | shares | 233,400 | ||||||
Class of warrant or right, Outstanding | shares | 8,130,550 | ||||||
Class of warrant or right, Exercise price of warrants or right | $ / shares | $ 3.18 | ||||||
Share issuance costs | $ 3,394 | ||||||
Warrants exercised for proceeds | $ 742 | ||||||
Katana [member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Shares issued during the period | shares | 481,928 | ||||||
Two Thousand And Sixteen Shareholders Plan [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Shareholders rights covenants | The rights issued under the Plan will initially attach to and trade with the common shares, and no separate certificates will be issued unless a triggering event occurs. The rights will become exercisable only when an acquiring person, including any party related to it, acquires or attempts to acquire 20% or more of the outstanding shares without complying with the “Permitted Bid” provisions of the Plan or without approval of the Board of Directors. Subject to the terms and conditions set out in the Plan, each right would, upon exercise and payment of $5.00 per right, entitle a rights holder, other than the acquiring person and related parties, to purchase a number of common shares at twice the exercise price of $5.00 per right based on the average weighted market price of the common shares for the last 20 trading days preceding the common share acquisition date (as defined in the Plan’s rights). Under the Plan, a Permitted Bid is a bid made to all holders of common shares and which is open for acceptance for no less than 105 days. If, at the end of 105 days, at least 50% of the outstanding common shares, other than those owned by the offeror and certain related parties, has been tendered, the offeror may take up and pay for the common shares, but must extend the bid for a further 10 days to allow other shareholders to tender. | ||||||
Stock Option Plan Two Thousand And Nineteen [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Share based compensation expense | $ 1,879 | $ 1,414 | |||||
Exercise period of options | yr | 10 | ||||||
Maximum number of options available for grant | shares | 7,700,000 | 7,700,000 | |||||
Period of vesting of options | Generally, the options vest at the grant date or over a period of up to three years | ||||||
Remaining options available for issuance | shares | 4,251,404 | 4,251,404 | 2,379,863 | ||||
Stock Appreciation Rights [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Share based compensation expense | $ 53 | $ 13 | |||||
Exercise period of options | yr | 8.2 | ||||||
Deferred Stock Units [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Share based compensation expense | $ 78 | $ 33 | |||||
Deferred stock units outstanding | shares | 215,508 | 215,508 | 220,171 | ||||
Deferred stock liability | $ 710 | $ 710 | $ 508 | ||||
Change in fair value | (209) | $ (157) | |||||
Deferred Stock Units [Member] | Cash Settled Forward Contracts [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Shares outstanding | shares | 220,171 | ||||||
Fair value of cash settled forward contracts | 740 | 740 | $ 520 | ||||
Change in fair value | 212 | $ 166 | |||||
Ordinary shares [member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Issued capital | $ 668 | $ 668 | |||||
Ordinary shares [member] | Two Thousand And Sixteen Shareholders Plan [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Value per unit of forward contract | $ / shares | $ 5.84 | $ 5.75 |
Share Capital and warrants - Su
Share Capital and warrants - Summary Of The Model Used To Determine Fair Value Of Options (Detail) | 12 Months Ended | |||
Nov. 30, 2021yr$ / shares | Nov. 30, 2021yr$ / shares | Nov. 30, 2020yr$ / shares | Nov. 30, 2020yr$ / shares | |
Disclosure Of The Model Used To Determine Fair Value Of Options [Line Items] | ||||
Risk-free interest rate | 1.57% | 1.57% | 0.67% | 0.67% |
Expected volatility | 59.00% | 59.00% | 64.60% | 64.60% |
Average option life in years | 5.2 | 5.2 | 6.25 | 6.25 |
Grant-date share price | (per share) | $ 3.29 | $ 4.21 | $ 2.31 | $ 3 |
Option exercise price | (per share) | $ 6.30 | $ 8.05 | $ 6.19 | $ 8.05 |
Stock Appreciation Rights [Member] | ||||
Disclosure Of The Model Used To Determine Fair Value Of Options [Line Items] | ||||
Risk-free interest rate | 1.57% | 1.57% | ||
Expected volatility | 65.50% | 65.50% | ||
Average option life in years | 8.2 | 8.2 | ||
Grant-date share price | (per share) | $ 3.29 | $ 4.21 | ||
Option exercise price | (per share) | $ 3.38 | $ 4.32 |
Share capital and warrants - _2
Share capital and warrants - Summary of the grant date weighted average fair value of SARs granted (Detail) - Stock Appreciation Rights [Member] | 12 Months Ended | |
Nov. 30, 2021shares$ / shares | Nov. 30, 2021shares$ / shares | |
Disclosure of classes of share capital [line items] | ||
Number of SARs | 75,000 | 75,000 |
Weighted average grant date fair value | (per share) | $ 2.13 | $ 2.73 |
Share Capital and warrants - _3
Share Capital and warrants - Summary Of The Number Of Options Outstanding (Detail) | 12 Months Ended | |||||
Nov. 30, 2021shares$ / shares | Nov. 30, 2021shares$ / shares$ / shares | Nov. 30, 2020shares$ / shares | Nov. 30, 2020shares$ / shares$ / shares | Nov. 30, 2021shares$ / shares | Nov. 30, 2020shares$ / shares | |
Disclosure of classes of share capital [line items] | ||||||
Number of options ending balance | 3,190,284 | 3,190,284 | ||||
Weighted average ending balance | (per share) | $ 3.83 | $ 3 | ||||
CAD | ||||||
Disclosure of classes of share capital [line items] | ||||||
Number of options beginning balance | 3,203,693 | 3,203,693 | 2,415,784 | 2,415,784 | ||
Number of options, granted | 1,057,831 | 1,057,831 | 1,077,721 | 1,077,721 | ||
Number of options,Forfeited and expired – CAD | (406,240) | (406,240) | (229,812) | (229,812) | ||
Number of options, exercised | (665,000) | (665,000) | (60,000) | (60,000) | ||
Number of options ending balance | 3,190,284 | 3,190,284 | 3,203,693 | 3,203,693 | ||
Options exercisable outstanding | 1,630,476 | 1,630,476 | 2,063,672 | 2,063,672 | 1,630,476 | 2,063,672 |
Weighted average beginning balance | (per share) | $ 3.59 | $ 2.76 | $ 3.94 | $ 2.96 | ||
Weighted average, granted | (per share) | 3.94 | 3.10 | 3.06 | 2.25 | ||
Weighted average,Forfeited and expired | (per share) | 6.61 | 5.26 | 4.72 | 3.47 | ||
Weighted average, exercised | (per share) | 1.11 | $ 0.89 | 3.38 | $ 2.40 | ||
Weighted average options exercisable | (per share) | 3.96 | $ 3.96 | 3.43 | $ 3.43 | $ 3.10 | $ 2.64 |
Weighted average ending balance | (per share) | $ 3.83 | $ 3 | $ 3.59 | $ 2.76 | ||
US | ||||||
Disclosure of classes of share capital [line items] | ||||||
Number of options beginning balance | 12,500 | 12,500 | ||||
Number of options, granted | 102,608 | 102,608 | ||||
Number of options, Forfeited – USD | (34,375) | (34,375) | ||||
Number of options ending balance | 80,733 | 80,733 | 12,500 | 12,500 | ||
Options exercisable outstanding | 4,166 | 4,166 | 4,166 | |||
Weighted average beginning balance | $ / shares | $ 2.35 | |||||
Weighted average, granted | $ / shares | 3.18 | |||||
Weighted average, Forfeited | $ / shares | $ 3.06 | |||||
Weighted average options exercisable | (per share) | $ 0 | $ 0 | $ 2.35 | |||
Weighted average ending balance | (per share) | $ 0 | $ 3.09 | $ 2.35 |
Share Capital and warrants - _4
Share Capital and warrants - Summary Of The Number Of Options Outstanding (Parenthetical) (Detail) | 12 Months Ended | |||
Nov. 30, 2021$ / shares | Nov. 30, 2021$ / shares | Nov. 30, 2020$ / shares | Nov. 30, 2020$ / shares | |
Disclosure of classes of share capital [abstract] | ||||
Weighted average share price of options excercised on the exercise date | (per share) | $ 4.18 | $ 3.36 | $ 8.65 | $ 6.57 |
Share Capital and warrants - _5
Share Capital and warrants - Summary Of The Stock Option Information (Detail) | 12 Months Ended | |||||
Nov. 30, 2021shares$ / shares | Nov. 30, 2021shares$ / shares | Nov. 30, 2020shares$ / shares | Nov. 30, 2020shares$ / shares | Nov. 30, 2019shares$ / shares | Nov. 30, 2019shares$ / shares | |
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Number of options outstanding | 3,190,284 | 3,190,284 | ||||
Weighted average remaining life | 7 years 1 month 28 days | |||||
Weighted average exercise price | (per share) | $ 3.83 | $ 3 | ||||
CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Number of options outstanding | 3,190,284 | 3,190,284 | 3,203,693 | 3,203,693 | 2,415,784 | 2,415,784 |
Weighted average exercise price | (per share) | $ 3.83 | $ 3 | $ 3.59 | $ 2.76 | $ 3.94 | $ 2.96 |
Exercise Price 1 | USD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Number of options outstanding | 80,733 | 80,733 | ||||
Weighted average remaining life | 9 years 3 months 25 days | |||||
Weighted average exercise price | $ / shares | $ 3.09 | |||||
Exercise Price 1 | CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Number of options outstanding | 314,660 | 314,660 | ||||
Weighted average remaining life | 1 year 1 month 13 days | |||||
Weighted average exercise price | (per share) | $ 0.36 | $ 0.28 | ||||
Exercise Price 1 | Top of range [member] | USD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Weighted average exercise price | $ / shares | 3.75 | |||||
Exercise Price 1 | Top of range [member] | CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Weighted average exercise price | (per share) | 0.25 | 0.92 | ||||
Exercise Price 1 | Bottom of range [member] | USD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Weighted average exercise price | $ / shares | 2.01 | |||||
Exercise Price 1 | Bottom of range [member] | CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Weighted average exercise price | (per share) | $ 1.19 | $ 0.19 | ||||
Exercise Price 2 | CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Number of options outstanding | 1,310,453 | 1,310,453 | ||||
Weighted average remaining life | 7 years 3 months 25 days | |||||
Weighted average exercise price | (per share) | $ 2.80 | $ 2.19 | ||||
Exercise Price 2 | Top of range [member] | CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Weighted average exercise price | (per share) | 2.01 | 2.89 | ||||
Exercise Price 2 | Bottom of range [member] | CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Weighted average exercise price | (per share) | $ 3.75 | $ 1.55 | ||||
Exercise Price 3 | CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Number of options outstanding | 1,108,074 | 1,108,074 | ||||
Weighted average remaining life | 8 years 10 months 2 days | |||||
Weighted average exercise price | (per share) | $ 4.15 | $ 3.25 | ||||
Exercise Price 3 | Top of range [member] | CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Weighted average exercise price | (per share) | 3.76 | 4.62 | ||||
Exercise Price 3 | Bottom of range [member] | CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Weighted average exercise price | (per share) | $ 6 | $ 2.89 | ||||
Exercise Price 4 | CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Number of options outstanding | 318,733 | 318,733 | ||||
Weighted average remaining life | 6 years 11 months 12 days | |||||
Weighted average exercise price | (per share) | $ 7.92 | $ 6.20 | ||||
Exercise Price 4 | Top of range [member] | CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Weighted average exercise price | (per share) | 6.01 | 6.93 | ||||
Exercise Price 4 | Bottom of range [member] | CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Weighted average exercise price | (per share) | $ 9 | $ 4.62 | ||||
Exercise Price 5 | CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Number of options outstanding | 138,364 | 138,364 | ||||
Weighted average remaining life | 6 years 4 months 6 days | |||||
Weighted average exercise price | (per share) | $ 9.56 | $ 7.48 | ||||
Exercise Price 5 | Top of range [member] | CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Weighted average exercise price | (per share) | 9.01 | 1.70 | ||||
Exercise Price 5 | Bottom of range [member] | CAD | ||||||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | ||||||
Weighted average exercise price | (per share) | $ 10 | $ 6.93 |
Share Capital and warrants - _6
Share Capital and warrants - Summary Of Fair Value Of Options Used To Determine The Weighted Average Assumptions (Detail) | 12 Months Ended | |||
Nov. 30, 2021yr$ / shares | Nov. 30, 2021yr$ / shares | Nov. 30, 2020yr$ / shares | Nov. 30, 2020yr$ / shares | |
Disclosure of classes of share capital [line items] | ||||
Risk-free interest rate | 1.57% | 1.57% | 0.67% | 0.67% |
Expected volatility | 59.00% | 59.00% | 64.60% | 64.60% |
Average option life in years | 5.2 | 5.2 | 6.25 | 6.25 |
Grant-date share price | (per share) | $ 3.29 | $ 4.21 | $ 2.31 | $ 3 |
Option exercise price | (per share) | $ 6.30 | $ 8.05 | $ 6.19 | $ 8.05 |
USD | ||||
Disclosure of classes of share capital [line items] | ||||
Risk-free interest rate | 1.37% | 1.37% | 0.74% | 0.74% |
Expected volatility | 72.00% | 72.00% | 78.00% | 78.00% |
Average option life in years | 8.5 | 8.5 | 8.5 | 8.5 |
Grant-date share price | $ / shares | $ 3.18 | $ 2.35 | ||
Option exercise price | $ / shares | $ 3.18 | $ 2.35 | ||
CAD | ||||
Disclosure of classes of share capital [line items] | ||||
Risk-free interest rate | 1.35% | 1.35% | 0.95% | 0.95% |
Expected volatility | 70.00% | 70.00% | 74.00% | 74.00% |
Average option life in years | 8.5 | 8.5 | 8.5 | 8.5 |
Grant-date share price | (per share) | $ 3.10 | $ 3.94 | $ 2.25 | $ 3.06 |
Option exercise price | (per share) | $ 3.10 | $ 3.94 | $ 2.25 | $ 3.06 |
Share Capital and warrants - _7
Share Capital and warrants - Summary Of Summarizes The Measurement Date Weighted Average Fair Value Of Stock Options Granted (Detail) | 12 Months Ended | |||
Nov. 30, 2021USD ($)shares | Nov. 30, 2020USD ($)shares | Nov. 30, 2021CAD ($) | Nov. 30, 2020CAD ($) | |
USD | ||||
Disclosure of classes of share capital [line items] | ||||
Number of options | 102,608 | 12,500 | ||
Weighted average grant date fair value | $ | $ 2.22 | $ 1.70 | ||
CAD | ||||
Disclosure of classes of share capital [line items] | ||||
Number of options | 1,057,831 | 1,077,721 | ||
Weighted average grant date fair value | $ 2.13 | $ 1.71 | $ 2.72 | $ 2.22 |
Share Capital and warrants - _8
Share Capital and warrants - Summary of Calculation of Weighted Average Number of Common Shares (Detail) - shares | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Earnings per share [line items] | ||
Issued common shares as at December 1 | 77,013,411 | 76,953,411 |
Weighted average number of common shares, basic and diluted | 92,350,198 | 76,991,635 |
Share options [member] | ||
Earnings per share [line items] | ||
Effect of share options exercised | 374,247 | 38,224 |
public issue common shares [member] | ||
Earnings per share [line items] | ||
Effect of issue common shares | 14,816,285 | 0 |
Brokers warrants [member] | ||
Earnings per share [line items] | ||
Effect of broker warrants exercised | 146,255 | 0 |
Share capital and warrants - _9
Share capital and warrants - Summary of Accumulated other comprehensive income (loss) (Detail) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Accumulated other comprehensive income | $ (44) | $ (481) |
Unrealized losses on FVOCI financial assets, net of tax | ||
Accumulated other comprehensive income | (195) | 2 |
Cumulative exchange difference on translation of foreign operations | ||
Accumulated other comprehensive income | $ 151 | $ (483) |
Income Taxes - Summary of compo
Income Taxes - Summary of components of the current and deferred tax expenses (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Major components of tax expense (income) [abstract] | ||
Current tax expense | $ 63 | $ 16 |
Deferred tax expense (recovery) | ||
Origination and reversal of temporary differences | (7,796) | (4,890) |
Change in unrecognized deductible temporary differences | 7,796 | 4,890 |
Total deferred tax expense (recovery) | ||
Total current and deferred tax expense | $ 63 | $ 16 |
Income Taxes - Summary of recon
Income Taxes - Summary of reconciliation between effective and applicable tax (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Major components of tax expense (income) [abstract] | ||
Income taxes at domestic tax statutory rate | $ (8,390) | $ (6,004) |
Change in unrecognized deductible temporary differences | 7,796 | 4,890 |
Impact of differences in statutory tax rates | 64 | 742 |
Non-deductible expenses and other | 593 | 388 |
Total current and deferred tax expense | $ 63 | $ 16 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Disclosure of Detailed Information About Income Tax [Line Items] | ||
Effective applicable income tax rate | 26.50% | 26.50% |
Income Taxes - Summary of unrec
Income Taxes - Summary of unrecognized deferred tax assets (Detail) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unrecognised deferred tax assets | $ 75,475 | $ 64,888 |
Research and development expenses | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unrecognised deferred tax assets | 26,046 | 24,924 |
Non-capital losses | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unrecognised deferred tax assets | 38,615 | 31,725 |
Property and equipment | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unrecognised deferred tax assets | 225 | 242 |
Intellectual property and patent fees | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unrecognised deferred tax assets | 3,054 | 2,952 |
Available deductions and other | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unrecognised deferred tax assets | $ 7,535 | $ 5,045 |
Income Taxes - Summary of the a
Income Taxes - Summary of the amounts and expiry dates of tax attributes (Detail) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Federal | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Research and development expenses, without time limitation | $ 89,740 | $ 85,792 |
Excess of tax value of property and equipment over carrying value | 869 | 959 |
Excess of tax value of intellectual property and patent fees over carrying value | 11,522 | 11,136 |
Available deductions and other | 60,940 | 50,470 |
Provincial | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Research and development expenses, without time limitation | 109,034 | 104,822 |
Excess of tax value of property and equipment over carrying value | 838 | 870 |
Excess of tax value of intellectual property and patent fees over carrying value | 11,518 | 11,131 |
Available deductions and other | 16,607 | 7,619 |
2027 | Federal | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 5,960 | 5,760 |
2027 | Provincial | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 5,952 | 5,753 |
2028 | Federal | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 36,877 | 35,640 |
2028 | Provincial | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 17,949 | 17,347 |
2029 | Federal | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 15,513 | 14,993 |
2029 | Provincial | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 13,111 | 12,672 |
2030 | Federal | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 9,109 | 8,803 |
2030 | Provincial | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 9,105 | 8,800 |
2031 | Federal | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 18,758 | 18,129 |
2031 | Provincial | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 16,651 | 16,092 |
2032 | Federal | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 12,709 | 12,282 |
2032 | Provincial | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 11,669 | 11,278 |
2033 | Federal | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 9,132 | 8,826 |
2033 | Provincial | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 9,046 | 8,742 |
2034 | Federal | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 8,362 | 8,082 |
2034 | Provincial | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 8,289 | 8,011 |
2037 | Federal | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 7,462 | 7,212 |
2037 | Provincial | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 7,373 | 7,126 |
2038 | Federal | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 2,177 | 2,104 |
2038 | Provincial | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 2,095 | 2,025 |
2039 | Federal | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 1,434 | 1,386 |
2039 | Provincial | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 1,394 | 1,347 |
2040 | Federal | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 7,832 | 6,928 |
2040 | Provincial | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 7,805 | $ 6,921 |
2041 | Federal | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | 21,220 | |
2041 | Provincial | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Losses carried forward | $ 21,153 |
Supplemental cash flow disclo_3
Supplemental cash flow disclosures - Summary of supplemental cash flow (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Supplemental cash flow disclosures [abstract] | ||
Additions to property and equipment included in accounts payable and accrued liabilities | $ 0 | $ 12 |
Deferred financing costs included in accounts payable and accrued liabilities | 174 | |
Initial recognition of right-of-use assets and lease liabilities | 0 | 3,192 |
Reclassification of other liabilities to right-of-use-assets | $ 0 | $ 238 |
Financial instruments - Additio
Financial instruments - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Disclosure of detailed information about financial instruments [line items] | ||
Trade receivable | $ 9,261 | $ 10,947 |
Current trade receivables aging period | 60 days | 60 days |
Bad debt expenses | $ 0 | $ 0 |
Bonds and money market funds | 19,955 | 8,031 |
Cash and money market funds | $ 41,491 | $ 28,124 |
Fixed interest rate | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings Interest rate | 5.75% | 5.75% |
Interest rate, measurement | Bonds | ||
Disclosure of detailed information about financial instruments [line items] | ||
Positive impact of market interest rates | 0.50% | |
Increase (decrease) in accumulated other comprehensive | $ 141 | $ 0 |
Increase (decrease) in fair value of assets | $ 141 | 0 |
Negative impact of market interest rates | 0.50% | |
Interest rate, measurement | Cash and market funds | ||
Disclosure of detailed information about financial instruments [line items] | ||
Positive impact of market interest rates | 0.50% | |
Increase (decrease) in cash flows | $ 207 | 141 |
Increase (decrease) in profit or loss | $ 207 | $ 141 |
Negative impact of market interest rates | 0.50% | |
CAD | ||
Disclosure of detailed information about financial instruments [line items] | ||
Positive percentage impact on foreign currency exposures | 5.00% | |
Negative percentage impact on foreign currency exposures | 5.00% |
Financial instruments - Summary
Financial instruments - Summary of the contractual maturities of financial liabilities (Detail) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 | Nov. 30, 2019 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Accounts payable and accrued liabilities | $ 40,376 | $ 34,815 | |
Convertible unsecured senior notes including interest | 64,113 | 67,419 | |
Long-term obligations | 5,000 | ||
Lease Liabilities | 2,973 | 3,640 | |
Financial liabilities | 107,462 | 110,874 | |
Accounts payable and accrued liabilities carrying amount | 40,376 | 34,815 | |
Convertible unsecured senior notes including interest carrying amount | 54,227 | 52,403 | |
Lease liabilitites | 2,518 | 2,980 | $ 3,192 |
Carrying amount | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Accounts payable and accrued liabilities carrying amount | 40,376 | 34,815 | |
Convertible unsecured senior notes including interest carrying amount | 54,227 | 52,403 | |
Long-term obligations | 4,666 | ||
Lease liabilitites | 2,518 | 2,980 | |
Financial liabilities | 97,121 | 94,864 | |
Less than 1 year | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Accounts payable and accrued liabilities | 40,376 | 34,815 | |
Convertible unsecured senior notes including interest | 3,306 | 3,306 | |
Long-term obligations | 5,000 | ||
Lease Liabilities | 624 | 621 | |
Financial liabilities | 44,306 | 43,742 | |
From 1 to 2 Years | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Accounts payable and accrued liabilities | 0 | ||
Convertible unsecured senior notes including interest | 60,807 | 64,113 | |
Lease Liabilities | 1,275 | 1,267 | |
Financial liabilities | 62,082 | 65,380 | |
More than 3 Years | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Accounts payable and accrued liabilities | 0 | ||
Convertible unsecured senior notes including interest | 0 | ||
Lease Liabilities | 1,074 | 1,752 | |
Financial liabilities | $ 1,074 | $ 1,752 |
Financial instruments - Summa_2
Financial instruments - Summary of presents the significant items in the original currencies exposed to currency risk (Detail) € in Thousands, $ in Thousands, $ in Thousands | Nov. 30, 2021USD ($) | Nov. 30, 2021CAD ($) | Nov. 30, 2021EUR (€) | Nov. 30, 2020USD ($) | Nov. 30, 2020CAD ($) | Nov. 30, 2020EUR (€) | Nov. 30, 2018USD ($) |
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||||||
Cash | $ 20,399 | $ 12,737 | |||||
Bonds and money market funds | 19,955 | 8,031 | |||||
Trade and other receivables | 10,487 | 12,430 | |||||
Tax credits and grants receivable | 441 | 755 | $ 0 | ||||
Accounts payable and accrued liabilities | $ (40,376) | $ (34,815) | |||||
Currency risk | |||||||
Disclosure of nature and extent of risks arising from financial instruments [line items] | |||||||
Cash | $ 589 | € 61 | $ 871 | € 36 | |||
Bonds and money market funds | 16,298 | 0 | 821 | ||||
Trade and other receivables | 331 | 1,553 | 522 | 1,052 | |||
Tax credits and grants receivable | 385 | 123 | 942 | 25 | |||
Accounts payable and accrued liabilities | (6,819) | (7,256) | (4,937) | (4,496) | |||
Lease liabilities | (1,755) | (1,010) | (2,109) | (1,138) | |||
Provisions | € | (1,970) | ||||||
Total exposure | $ 9,029 | € (8,499) | $ (3,890) | € (4,521) |
Financial instruments - Summa_3
Financial instruments - Summary of exchange rates (Detail) | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
CAD – USD | ||
Disclosure of detailed information about financial instruments [line items] | ||
Average rate | 0.7979 | 0.7445 |
Reporting date rate | 0.7822 | 0.7695 |
Euro – USD | ||
Disclosure of detailed information about financial instruments [line items] | ||
Average rate | 1.1906 | 1.1325 |
Reporting date rate | 1.1338 | 1.1928 |
Financial instruments - Summa_4
Financial instruments - Summary of Company's foreign currency exposures (Detail) € in Thousands, $ in Thousands | 12 Months Ended | |||
Nov. 30, 2021CAD ($) | Nov. 30, 2021EUR (€) | Nov. 30, 2020CAD ($) | Nov. 30, 2020EUR (€) | |
Disclosure of detailed information about financial instruments [abstract] | ||||
Positive (negative) impact | $ 451 | € (425) | $ (195) | € (226) |
Capital management - Additional
Capital management - Additional Information (Detail) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
At The Market Programme [Member] | ||
Disclosure of objectives, policies and processes for managing capital [line items] | ||
Common Stock Shares Subscribed But Not Issued Value | $ 50 | |
Cash bond and money market funds | ||
Disclosure of objectives, policies and processes for managing capital [line items] | ||
Cash,bond and money market funds | $ 40,354 | $ 20,768 |
Determination of fair values -
Determination of fair values - Additional Information (Detail) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Level 1 | Convertible unsecured notes | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Convertible unsecured notes fair value | $ 52,756 | $ 43,125 |
Commitments - Additional Inform
Commitments - Additional Information (Detail) € in Thousands, $ in Thousands, $ in Thousands | 12 Months Ended | |||
Nov. 30, 2021USD ($) | Nov. 30, 2021CAD ($) | Nov. 30, 2021EUR (€) | Nov. 30, 2020USD ($) | |
Disclosure of Commitments [Line Items] | ||||
Cost of the project plan | € | € 4,000 | |||
Percentage of cost held by company | 48.00% | |||
Oncology Platform | ||||
Disclosure of Commitments [Line Items] | ||||
Long term purchase commitements | $ 1,253 | $ 586 | ||
Taimed Agreement | ||||
Disclosure of Commitments [Line Items] | ||||
Percentage of cost held by investor | 52.00% | |||
Trogarzo | ||||
Disclosure of Commitments [Line Items] | ||||
Long term purchase commitements | $ 6,598 | 14,042 | ||
Multidose pass injector developed | ||||
Disclosure of Commitments [Line Items] | ||||
Line of credit facility outstanding | 724 | 1,217 | ||
Revolving credit facility | ||||
Disclosure of Commitments [Line Items] | ||||
Revolving credit facility face value | 1,000 | $ 1,500 | ||
Line of credit facility outstanding | $ 0 | $ 0 | ||
Canadian prime variable rate | Revolving Credit Facility CAD | ||||
Disclosure of Commitments [Line Items] | ||||
Debt instrument variable rate spread | 1.00% | 1.00% | 1.00% | |
U.S. prime variable rate | Revolving Credit Facility USD | ||||
Disclosure of Commitments [Line Items] | ||||
Debt instrument variable rate spread | 1.00% | 1.00% | 1.00% |
Operating segments - Summary of
Operating segments - Summary of single operating segment (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Disclosure of operating segments [line items] | ||
Revenue | $ 69,823 | $ 66,053 |
RxCrossroads | ||
Disclosure of operating segments [line items] | ||
Revenue | 68,917 | 63,909 |
Others | ||
Disclosure of operating segments [line items] | ||
Revenue | $ 906 | $ 2,144 |
Operating segments - Additional
Operating segments - Additional Information (Detail) - USD ($) $ in Thousands | Nov. 30, 2021 | Nov. 30, 2020 |
Disclosure of operating segments [line items] | ||
Non-current assets | $ 27,304 | $ 35,335 |
Canada | ||
Disclosure of operating segments [line items] | ||
Non-current assets | 26,211 | 34,006 |
Ireland | ||
Disclosure of operating segments [line items] | ||
Non-current assets | $ 1,093 | $ 1,329 |
Related parties - Summary of ke
Related parties - Summary of key management personnel compensation (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2021 | Nov. 30, 2020 | |
Related party transactions [abstract] | ||
Short-term employee benefits | $ 2,690 | $ 2,384 |
Post-employment benefits | 72 | 97 |
Share-based compensation | 1,243 | 925 |
Termination benefits | 0 | 864 |
Key management personnel compensation | $ 4,005 | $ 4,270 |
Related parties - Additional In
Related parties - Additional Information (Detail) | Nov. 30, 2021 | Nov. 30, 2020 |
Disclosure of transactions between related parties [abstract] | ||
Related party percentage of voting shares held | 0.70% | 1.40% |
Related party percentage of unsecured notes held | 0.20% | 0.20% |
Subsequent event (Detail)
Subsequent event (Detail) - Subsequent Events [member] $ / shares in Units, $ in Thousands | Dec. 01, 2021CAD ($)shares | Dec. 01, 2021$ / sharesshares | Nov. 23, 2021USD ($) |
Disclosure of non-adjusting events after reporting period [line items] | |||
Number of shares issued | shares | 269,170 | ||
Exercise price of common shares | $ / shares | $ 3.30 | ||
Share-based compensation arrangement by share-based payment award, options, grants in period, net of forfeitures | shares | 2,099,651 | ||
Shares granted, value, share-based payment arrangement, after forfeiture | $ | $ 4,210 | ||
Common Stock Shares Subscribed But Not Issued Value | $ | $ 50,000 |