AquaBounty (AQB) 10-Q 2 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 01, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	AQB
Entity Registrant Name	Aquabounty Technologies, Inc.
Entity Central Index Key	0001603978
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Small Business	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		21,598,555

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 7,630,376	$ 2,990,196
Certificate of deposit	12,606	12,361
Other receivables	136,903	115,982
Inventory	159,131	76,109
Prepaid expenses and other current assets	261,176	315,969
Total current assets	8,200,192	3,510,617
Property, plant and equipment, net	23,934,625	23,716,768
Right of use asset, net	454,890	0
Definite-lived intangible assets, net	167,866	171,292
Indefinite-lived intangible assets	191,800	191,800
Other assets	80,583	80,583
Total assets	33,029,956	27,671,060
Current liabilities:
Accounts payable and accrued liabilities	958,058	824,900
Other current liabilities	84,253	20,423
Current debt	90,200	71,613
Total current liabilities	1,132,511	916,936
Long-term lease obligations	399,935	0
Long-term debt	3,941,010	3,519,821
Total liabilities	5,473,456	4,436,757
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.001 par value, 50,000,000 shares authorized; 18,697,477 (2018: 15,098,837) shares outstanding	18,697	15,099
Additional paid-in capital	149,702,936	142,707,957
Accumulated other comprehensive loss	(486,635)	(574,186)
Accumulated deficit	(121,678,498)	(118,914,567)
Total stockholders’ equity	27,556,500	23,234,303
Total liabilities and stockholders’ equity	$ 33,029,956	$ 27,671,060

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, share authorized (in shares)	50,000,000	50,000,000
Common stock, shares outstanding (in shares)	18,697,477	15,098,837

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues
Product revenues	$ 97,885	$ 19,097
Costs and expenses
Product costs	81,613	16,232
Sales and marketing	71,991	81,647
Research and development	663,481	977,817
General and administrative	2,036,493	1,386,873
Total costs and expenses	2,853,578	2,462,569
Operating loss	(2,755,693)	(2,443,472)
Other income (expense)
Gain on disposal of equipment	0	1,160
Interest expense	(13,338)	(5,402)
Other income (expense), net	5,100	(2,073)
Total other income (expense)	(8,238)	(6,315)
Net loss	(2,763,931)	(2,449,787)
Other comprehensive income (loss):
Foreign currency translation income (loss)	87,551	(112,118)
Total other comprehensive income (loss)	87,551	(112,118)
Comprehensive loss	$ (2,676,380)	$ (2,561,905)
Basic and diluted net loss per share (in dollars per share)	$ (0.18)	$ (0.21)
Weighted average number of common shares - basic and diluted (in shares)	15,687,681	11,940,874

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Total	Common Stock	Additional paid-in capital	Accumulated other comprehensive loss	Accumulated deficit
Beginning Balance, issued and outstanding (in shares) at Dec. 31, 2017		8,895,094
Beginning Balance at Dec. 31, 2017	$ 17,980,689	$ 8,895	$ 126,718,186	$ (213,884)	$ (108,532,508)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(2,449,787)				(2,449,787)
Other comprehensive loss	(112,118)			(112,118)
Issuance of common stock and warrants, net of expenses (in shares)		3,692,307
Issuance of common stock and warrants, net of expenses	10,616,048	$ 3,692	10,612,356
Exercise of warrants for common stock (in shares)		76,981
Exercise of warrants for common stock	250,188	$ 77	250,111
Share based compensation (in shares)		11,151
Share based compensation	48,546	$ 12	48,534
Ending Balance, issued and outstanding (in shares) at Mar. 31, 2018		12,675,533
Ending Balance at Mar. 31, 2018	26,333,566	$ 12,676	137,629,187	(326,002)	(110,982,295)
Beginning Balance, issued and outstanding (in shares) at Dec. 31, 2018		15,098,837
Beginning Balance at Dec. 31, 2018	23,234,303	$ 15,099	142,707,957	(574,186)	(118,914,567)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(2,763,931)				(2,763,931)
Other comprehensive loss	87,551			87,551
Issuance of common stock and warrants, net of expenses (in shares)		3,345,282
Issuance of common stock and warrants, net of expenses	6,609,655	$ 3,345	6,606,310
Exercise of warrants for common stock (in shares)		76,797
Exercise of warrants for common stock	250,424	$ 77	250,347
Share based compensation (in shares)		176,561
Share based compensation	138,498	$ 176	138,322
Ending Balance, issued and outstanding (in shares) at Mar. 31, 2019		18,697,477
Ending Balance at Mar. 31, 2019	$ 27,556,500	$ 18,697	$ 149,702,936	$ (486,635)	$ (121,678,498)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating activities
Net loss	$ (2,763,931)	$ (2,449,787)
Adjustment to reconcile net loss to net cash used in operating activities
Depreciation and amortization	285,308	67,450
Share-based compensation	138,498	48,546
Gain on disposal of equipment	0	(1,160)
Changes in operating assets and liabilities:
Other receivables	(18,410)	(39,371)
Inventory	(83,158)	46,047
Prepaid expenses and other assets	55,504	369,621
Accounts payable and accrued liabilities	253,509	(508,423)
Net cash used in operating activities	(2,132,680)	(2,467,077)
Investing activities
Purchase of property, plant and equipment	(456,436)	(2,034,048)
Proceeds on sale of equipment	0	1,173
Other investing activities	13	0
Net cash used in investing activities	(456,423)	(2,032,875)
Financing activities
Proceeds from issuance of debt	376,117	0
Repayment of term debt	(9,619)	(14,168)
Proceeds from the issuance of common stock and warrants, net	6,609,655	10,616,048
Proceeds from the exercise of stock options and warrants, net	250,424	250,188
Net cash provided by financing activities	7,226,577	10,852,068
Effect of exchange rate changes on cash and cash equivalents	2,706	(5,588)
Net change in cash and cash equivalents	4,640,180	6,346,528
Cash and cash equivalents at beginning of period	2,990,196	492,861
Cash and cash equivalents at the end of period	7,630,376	6,839,389
Supplemental disclosure of cash flow information and non-cash transactions:
Interest paid in cash	13,338	5,402
Property and equipment included in accounts payable and accrued liabilities	79,193	976,208
Acquisition of equipment under debt arrangement	$ 0	$ 75,911

Nature of business and organiza

Nature of business and organization	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of business and organization	Nature of business and organization AquaBounty Technologies, Inc. (the “Parent” and, together with its subsidiaries, the “Company”) was incorporated in December 1991 in the State of Delaware for the purpose of conducting research and development of the commercial viability of a group of proteins commonly known as antifreeze proteins. In 1996, the Parent obtained the exclusive licensing rights for a gene construct (transgene) used to create a breed of farm‑raised Atlantic salmon that exhibit growth rates that are substantially faster than traditional salmon. In 2015, the Parent obtained approval from the US Food and Drug Administration (the “FDA”) for the production, sale, and consumption of its AquAdvantage Salmon product in the United States. In 2016, the Parent obtained approval from Health Canada for the sale and consumption of its AquAdvantage Salmon product in Canada. Previously, in 2013, the Parent obtained approval from Environment Canada for the production of the product. AQUA Bounty Canada Inc. (the “Canadian Subsidiary”) was incorporated in January 1994 for the purpose of establishing a commercial biotechnology laboratory to conduct research and development programs related to the Parent’s technologies and to commercialize the Parent’s products in Canada. AquaBounty Panama, S. de R.L. (the “Panama Subsidiary”) was incorporated in May 2008 in Panama for the purpose of conducting commercial trials of the Parent’s products. AquaBounty Farms, Inc. (the “U.S. Subsidiary”) was incorporated in December 2014 in the State of Delaware for the purpose of conducting field trials and commercializing the Parent’s products in the United States. AquaBounty Farms Indiana LLC (the “Indiana Subsidiary”), which is wholly owned by the U.S. Subsidiary, was formed in June 2017 in the State of Delaware for the purpose of operating its aquaculture facility in Albany, Indiana. AquaBounty Brasil Participações Ltda. (the “Brazil Subsidiary”) was incorporated in May 2015 for the purpose of conducting field trials and commercializing the Parent’s products in Brazil.

Basis of presentation

Basis of presentation	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of presentation The unaudited interim consolidated financial statements include the accounts of AquaBounty Technologies, Inc. and its wholly owned direct subsidiaries, AQUA Bounty Canada Inc.; AquaBounty Panama, S. de R.L.; AquaBounty Farms, Inc.; AquaBounty Farms Indiana LLC; and AquaBounty Brasil Participações Ltda. All inter-company transactions and balances have been eliminated upon consolidation. The unaudited interim consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States (“GAAP”) consistent with those applied in, and should be read in conjunction with, the Company’s audited financial statements and related footnotes for the year ended December 31, 2018 . The unaudited interim consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the Company’s financial position as of March 31, 2019 , and its results of operations and cash flows for the interim periods presented and are not necessarily indicative of results for subsequent interim periods or for the full year. The unaudited interim consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements, as allowed by the relevant SEC rules and regulations; however, the Company believes that its disclosures are adequate to ensure that the information presented is not misleading. Liquidity and Management’s Plan In the Company’s Annual Report on Form 10‑K for December 31, 2018, management stated that there was substantial doubt about the Company’s ability to continue as a going concern due to its limited capital resources, and the Company’s independent registered public accounting firm emphasized this matter in its report to the shareholders and the Board of Directors. At that time, management prepared a plan to mitigate this doubt, which was implemented during the current period. At March 31, 2019 , the Company’s cash balance totaled $7.6 million . Management has evaluated the Company’s cash resources as of the date of issuance, including the proceeds from the sales of Common Shares as disclosed in Notes 9 and 12, and in view of its planned spending for ongoing operations, capital expenditures, and working capital needs for the next twelve months has determined that its current funds are sufficient to meet its planned requirements. Management’s assessment is based primarily on its ability and past experience in managing expenditures in order to conserve the Company’s cash. Management has the ability to reduce expenditures and slow-down or delay capital spending in order to ensure its cash will extend through the next twelve months. In addition, the Company may continue to seek additional financing in the form of debt or equity. However, there is no assurance the Company can be successful in securing additional financing. Net loss per share Basic and diluted net loss per share available to common stockholders has been calculated by dividing net loss by the weighted average number of common shares outstanding during the period. Basic net loss is based solely on the number of Common Shares outstanding during the period. Fully diluted net loss per share includes the number of shares of common stock issuable upon the exercise of warrants and options with an exercise price less than the fair value of the common stock. Since the Company is reporting a net loss for all periods presented, all potential common shares are considered anti‑dilutive and are excluded from the calculation of diluted net loss per share. Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2016‑02, “Leases,” which requires a lessee to recognize lease liabilities for the lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis, and right-of-use assets, representing the lessee’s right to use, or control the use of, specified assets for the lease term. Additionally, the new guidance has simplified accounting for sale and leaseback transactions. Lessor accounting is largely unchanged. The ASU is effective for fiscal years beginning after December 15, 2018. We adopted the ASU January 1, 2019, and, based on our current portfolio of leases, approximately $455 thousand and $474 thousand of lease assets and liabilities, respectively, are recognized on our balance sheet at March 31, 2019, primarily relating to real estate. Management does not expect any recently issued, but not yet effective, accounting standards to have a material effect on its results of operations or financial condition.

Risks and uncertainties

Risks and uncertainties	3 Months Ended
	Mar. 31, 2019
Risks and Uncertainties [Abstract]
Risks and uncertainties	Risks and uncertainties The Company is subject to risks and uncertainties common in the biotechnology and aquaculture industries. Such risks and uncertainties include, but are not limited to: (i) results from current and planned product development studies and trials; (ii) decisions made by the FDA or similar regulatory bodies in other countries with respect to approval and commercial sale of any of the Company’s proposed products; (iii) the commercial acceptance of any products approved for sale and the Company’s ability to manufacture, distribute, and sell for a profit any products approved for sale; (iv) the Company’s ability to obtain the necessary patents and proprietary rights to effectively protect its technologies; and (v) the outcome of any collaborations or alliances entered into by the Company. In addition, as disclosed in “Item 1A. Risk Factors,” below, and in “Item 1A. Risk Factors” in our Annual Report on Form 10‑K for the year ended December 31, 2018, which was filed on March 7, 2019, there are a number of other risks and uncertainties that may have a material effect on the operating results of our business and our financial condition. Concentration of credit risk Financial instruments that potentially subject the Company to credit risk consist principally of cash and cash equivalents and certificates of deposit. This risk is minimized by the Company’s policy of investing in financial instruments with short-term maturities issued by highly rated financial institutions. The Company’s cash balances may at times exceed insurance limitations. The Company holds cash balances in bank accounts located in Canada to fund its local operations. These amounts are subject to foreign currency exchange risk, which is mitigated by the Company’s policy to limit the balances held in these accounts. Balances in Canadian bank accounts totaled $180,735 at March 31, 2019 .

Inventory

Inventory	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Inventory	Inventory Major classifications of inventory are summarized as follows: March 31, December 31, 2019 2018 Feed $ 44,236 $ 24,288 Eggs 30,405 — Packaging 4,554 8,913 Fish in process 79,936 42,908 Total inventory $ 159,131 $ 76,109

Property, plant and equipment

Property, plant and equipment	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property, plant and equipment	Property, plant and equipment Major classifications of property, plant and equipment are summarized as follows: March 31, December 31, 2019 2018 Land $ 711,336 $ 704,567 Building and improvements 9,284,732 9,244,737 Construction in process 6,545,566 6,091,265 Equipment 9,743,545 9,713,030 Office furniture and equipment 193,333 192,606 Vehicles 27,391 26,832 Total property and equipment $ 26,505,903 $ 25,973,037 Less accumulated depreciation and amortization (2,571,278 ) (2,256,269 ) Property, plant and equipment, net $ 23,934,625 $ 23,716,768 Included in construction in process is $6.0 million for renovation and new construction costs incurred at our Rollo Bay farm site. An additional $828 thousand has been committed.

Accounts payable and accrued li

Accounts payable and accrued liabilities	3 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
Accounts payable and accrued liabilities	Accounts payable and accrued liabilities Accounts payable and accrued liabilities include the following: March 31, December 31, 2019 2018 Accounts payable $ 279,471 $ 366,917 Accrued payroll including vacation 195,922 223,481 Accrued professional fees and research costs 344,635 185,992 Accrued franchise and excise taxes 117,747 23,678 Accrued construction costs 4,503 13,716 Accrued other 15,780 11,116 Accounts payable and accrued liabilities $ 958,058 $ 824,900

Debt

Debt	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt	Debt The current material terms and conditions of debt outstanding are as follows: Original loan amount Interest Monthly Maturity March 31, 2019 December 31, 2018 ACOA AIF grant (C$2,871,919) 0% Royalties - $ 2,150,780 $ 2,106,840 ACOA term loan (C$337,000) 0% C$3,120 June 2026 200,975 203,735 ACOA term loan (C$500,000) 0% C$4,630 November 2028 374,450 — Kubota Canada Ltd. (C$95,961) 0% C$1,142 January 2025 59,887 61,178 Finance PEI term loan (C$2,717,093) 4% C$4,333 July 2021 1,245,118 1,219,681 Total debt $ 4,031,210 $ 3,591,434 less: current portion (90,200 ) (71,613 ) Long-term debt $ 3,941,010 $ 3,519,821 Estimated principal payments remaining on loan debt are as follows: Year AIF ACOA FPEI Kubota Total 2019 $ — $ 21,029 $ 30,964 $ 7,700 $ 59,693 2020 — 69,648 42,754 10,266 122,668 2021 — 69,648 44,496 10,266 124,410 2022 — 69,648 46,309 10,266 126,223 2023 — 69,648 1,080,595 10,266 1,160,509 Thereafter 2,150,780 275,804 — 11,123 2,437,707 Total $ 2,150,780 $ 575,425 $ 1,245,118 $ 59,887 $ 4,031,210 On March 7, 2019, the Canadian Subsidiary received C $500 thousand under a credit facility with the Atlantic Canada Opportunities Agency (“ACOA”). The proceeds of the loan are to be used to partially finance the renovations to the Rollo Bay site. The loan will be repaid over a term of nine years and has a zero interest rate. Other than this loan, there have been no material changes to the Company’s debt arrangements as disclosed in our annual report on Form 10‑K for the year ended December 31, 2018. The Company recognized interest expense of $12,337 and $5,331 for the three months ended March 31, 2019 and 2018 , respectively, on its interest-bearing debt.

Leases Leases

Leases Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	Leases The Company leases certain facilities, property, and equipment under noncancelable operating leases. A determination is made if an arrangement is a lease at its inception, and leases with an initial term of twelve months or less are not recorded on the balance sheet. The Company adopted FASB ASU 2016-02 for lease accounting on January 1, 2019, and recognized a lease liability of $532 thousand and a corresponding right-of-use asset of $512 thousand . Management calculated the lease liability based on the net present value of the remaining lease payments on the date of adoption using a weighted average discount rate of 8% . As most of the Company’s leases did not provide an implicit interest rate, management used an estimated incremental borrowing rate. The adoption did not result in any cumulative-effect adjustment to beginning retained earnings. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. For operating leases, expense is recognized on a straight-line basis over the lease term. The Company has agreements with lease ( e.g. , minimum rent payments) and non-lease components ( e.g. , maintenance), which are generally accounted for separately. The Company has not elected the practical expedient to account for lease and non-lease components as one lease component. Lease expense for the three months ended March 31, 2019, amounted to $65,153 . The weighted average remaining lease term of the Company’s operating leases was 22.30 years as of March 31, 2019. Lease payments included in operating cash flows totaled $65,548 for the three months ended March 31, 2019. The table below summarizes the Company’s lease obligations and remaining payments at March 31, 2019: March 31, 2019 January 1, 2019 Lease Type End Date Remaining Years Remaining Payments Lease Liability Remaining Payments Lease Liability Maynard Office Lease Operating Mar 2023 4.00 $ 262,847 $ 222,931 $ 278,414 $ 234,685 Panama Farm Lease Operating Apr 2019 0.08 15,000 14,901 60,000 59,013 Indiana Auto Lease Operating Feb 2021 1.92 9,631 8,838 10,842 9,897 Indiana Well Lease Operating Dec 2048 29.78 713,650 227,442 717,420 228,844 Total leases $ 1,001,128 $ 474,112 $ 1,066,676 $ 532,439 Less: current portion (98,338 ) (74,177 ) (142,780 ) (117,345 ) Long-term leases $ 902,790 $ 399,935 $ 923,896 $ 415,094 Remaining payments under leases are as follows at March 31, 2019: Year Office Farm Auto Well Amount 2019 $ 47,292 $ 15,000 $ 3,632 $ 11,310 $ 77,234 2020 64,637 — 4,842 15,532 85,011 2021 66,416 — 1,157 15,998 83,571 2022 67,602 — — 16,478 84,080 2023 16,900 — — 16,972 33,872 Thereafter — — — 637,360 637,360 Total Lease Payments $ 262,847 $ 15,000 $ 9,631 $ 713,650 $ 1,001,128

Stockholders' equity

Stockholders' equity	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Stockholders' equity	Stockholders’ equity Recent issuances On March 21, 2019, the Company completed a public offering of 3,345,282 Common Shares. Net proceeds to the Company were $6.6 million after deducting discounts, fees, and expenses. Warrants The following table summarizes information about outstanding warrants at March 31, 2019 : Number of warrant shares Weighted average exercise price Outstanding at December 31, 2018 1,745,868 $3.25 Exercised (76,797 ) 3.25 Outstanding at March 31, 2019 1,669,071 $3.25 Exercisable at March 31, 2019 1,669,071 $3.25 During the quarter ended March 31, 2019 , the Company issued 76,797 Common Shares at $3.25 per share in conjunction with the exercise of warrants, with total proceeds of $250 thousand . Share-based compensation Restricted stock A summary of the Company’s shares of restricted stock as of March 31, 2019 , is as follows: Shares Weighted average grant date fair value Balance at December 31, 2018 8,867 $3.51 Granted 176,561 2.13 Vested (40,623 ) 2.21 Balance at March 31, 2019 144,805 $2.19 During the three months ended March 31, 2019 and 2018 , the Company expensed $90,634 and $6,967 , respectively, related to the restricted stock awards. At March 31, 2019 , the balance of unearned share-based compensation to be expensed in future periods related to the restricted stock awards is $316,699 . The period over which the unearned share-based compensation is expected to be earned is approximately 3.0 years. Stock options The Company’s option activity is summarized as follows: Number of options Weighted average exercise price Outstanding at December 31, 2018 339,964 $7.09 Issued 7,500 2.11 Outstanding at March 31, 2019 347,464 $6.98 Exercisable at March 31, 2019 326,382 $6.77 Unless otherwise indicated, options issued to employees, members of the Board of Directors, and non-employees are vested over one to three years and are exercisable for a term of ten years from the date of issuance. The weighted average fair value of stock options granted during the three months ended March 31, 2019 , was $1.48 . The fair value of stock option grants made were measured on the date of grant using Black-Scholes, with the following weighted average assumptions: expected volatility of 89% , risk free interest rate of 2.53% , expected dividend yield of 0.0% , and expected life of 5 years. The total intrinsic value of all options outstanding was $600 and $0 at March 31, 2019 , and December 31, 2018 , respectively. The total intrinsic value of exercisable options was $43 and $0 at March 31, 2019 , and December 31, 2018 , respectively. The following table summarizes information about options outstanding and exercisable at March 31, 2019 : Weighted average exercise price of outstanding options Number of options outstanding Weighted average remaining estimated life (in years) Number of options exercisable Weighted average exercise price of outstanding and exercisable options $2.50 - $5.70 211,534 5.5 204,568 $6.90 - $9.60 53,175 3.5 53,175 $10.50 - $10.80 4,000 4.9 4,000 $14.20 - $23.40 78,755 7.0 64,639 347,464 326,382 $6.77 Total share-based compensation on stock-option grants amounted to $47,864 and $41,579 for the three months ended March 31, 2019 and 2018 , respectively. At March 31, 2019 , the balance of unearned share-based compensation to be expensed in future periods related to unvested share-based awards was $74,780 . The period over which the unearned share-based compensation is expected to be earned is approximately 1.0 years.

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies The Company recognizes and discloses commitments when it enters into executed contractual obligations with other parties. The Company accrues contingent liabilities when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. See Note 5 for commitments related to our renovation and construction costs. There have been no other material changes to the commitments and contingencies disclosed in our annual report on Form 10‑K as of and for the year ended December 31, 2018.

Related Party Collaboration Agr

Related Party Collaboration Agreement	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Collaboration Agreement	Related Party Collaboration Agreement In February 2013, the Company entered into an Exclusive Channel Collaboration agreement (“ECC”) with Intrexon pursuant to which the Company will use Intrexon’s UltraVector and other technology platforms to develop and commercialize additional bioengineered traits in finfish for human consumption. Total Intrexon service costs incurred under the terms of this agreement for the three months ended March 31, 2019 and 2018 , amounted to $10,810 and $91,148 , respectively, and are included as a component of research and development expense in our Consolidated Statements of Operations and Comprehensive Loss. Included in accounts payable and accrued liabilities at March 31, 2019 , and December 31, 2018 , are amounts due to Intrexon under the ECC totaling $2,821 and $800 , respectively.

Subsequent Events Subsequent Ev

Subsequent Events Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On April 5, 2019, the Company completed a public offering of 2,554,590 Common Shares. Net proceeds to the Company were $5.2 million after deducting discounts, fees, and expenses. On April 17, 2019, the Company issued 346,488 Common Shares in conjunction with the overallotment exercise by the Company’s investment banker. Net proceeds to the Company were $696 thousand after deducting discounts, fees, and expenses.

Basis of presentation (Policies

Basis of presentation (Policies)	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The unaudited interim consolidated financial statements include the accounts of AquaBounty Technologies, Inc. and its wholly owned direct subsidiaries, AQUA Bounty Canada Inc.; AquaBounty Panama, S. de R.L.; AquaBounty Farms, Inc.; AquaBounty Farms Indiana LLC; and AquaBounty Brasil Participações Ltda. All inter-company transactions and balances have been eliminated upon consolidation.
Basis of presentation	The unaudited interim consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States (“GAAP”) consistent with those applied in, and should be read in conjunction with, the Company’s audited financial statements and related footnotes for the year ended December 31, 2018 . The unaudited interim consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the Company’s financial position as of March 31, 2019 , and its results of operations and cash flows for the interim periods presented and are not necessarily indicative of results for subsequent interim periods or for the full year. The unaudited interim consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements, as allowed by the relevant SEC rules and regulations; however, the Company believes that its disclosures are adequate to ensure that the information presented is not misleading.
Net loss per share	Basic and diluted net loss per share available to common stockholders has been calculated by dividing net loss by the weighted average number of common shares outstanding during the period. Basic net loss is based solely on the number of Common Shares outstanding during the period. Fully diluted net loss per share includes the number of shares of common stock issuable upon the exercise of warrants and options with an exercise price less than the fair value of the common stock. Since the Company is reporting a net loss for all periods presented, all potential common shares are considered anti‑dilutive and are excluded from the calculation of diluted net loss per share.
Accounting Pronouncements	In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2016‑02, “Leases,” which requires a lessee to recognize lease liabilities for the lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis, and right-of-use assets, representing the lessee’s right to use, or control the use of, specified assets for the lease term. Additionally, the new guidance has simplified accounting for sale and leaseback transactions. Lessor accounting is largely unchanged. The ASU is effective for fiscal years beginning after December 15, 2018. We adopted the ASU January 1, 2019, and, based on our current portfolio of leases, approximately $455 thousand and $474 thousand of lease assets and liabilities, respectively, are recognized on our balance sheet at March 31, 2019, primarily relating to real estate. Management does not expect any recently issued, but not yet effective, accounting standards to have a material effect on its results of operations or financial condition.

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Major classifications of inventory	Major classifications of inventory are summarized as follows: March 31, December 31, 2019 2018 Feed $ 44,236 $ 24,288 Eggs 30,405 — Packaging 4,554 8,913 Fish in process 79,936 42,908 Total inventory $ 159,131 $ 76,109

Property, plant and equipment (

Property, plant and equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Major classifications of property, plant and equipment	Major classifications of property, plant and equipment are summarized as follows: March 31, December 31, 2019 2018 Land $ 711,336 $ 704,567 Building and improvements 9,284,732 9,244,737 Construction in process 6,545,566 6,091,265 Equipment 9,743,545 9,713,030 Office furniture and equipment 193,333 192,606 Vehicles 27,391 26,832 Total property and equipment $ 26,505,903 $ 25,973,037 Less accumulated depreciation and amortization (2,571,278 ) (2,256,269 ) Property, plant and equipment, net $ 23,934,625 $ 23,716,768

Accounts payable and accrued _2

Accounts payable and accrued liabilities (Tables)	3 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
Schedule of accounts payable and accrued liabilities	Accounts payable and accrued liabilities include the following: March 31, December 31, 2019 2018 Accounts payable $ 279,471 $ 366,917 Accrued payroll including vacation 195,922 223,481 Accrued professional fees and research costs 344,635 185,992 Accrued franchise and excise taxes 117,747 23,678 Accrued construction costs 4,503 13,716 Accrued other 15,780 11,116 Accounts payable and accrued liabilities $ 958,058 $ 824,900

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Material terms and conditions of outstanding debt	The current material terms and conditions of debt outstanding are as follows: Original loan amount Interest Monthly Maturity March 31, 2019 December 31, 2018 ACOA AIF grant (C$2,871,919) 0% Royalties - $ 2,150,780 $ 2,106,840 ACOA term loan (C$337,000) 0% C$3,120 June 2026 200,975 203,735 ACOA term loan (C$500,000) 0% C$4,630 November 2028 374,450 — Kubota Canada Ltd. (C$95,961) 0% C$1,142 January 2025 59,887 61,178 Finance PEI term loan (C$2,717,093) 4% C$4,333 July 2021 1,245,118 1,219,681 Total debt $ 4,031,210 $ 3,591,434 less: current portion (90,200 ) (71,613 ) Long-term debt $ 3,941,010 $ 3,519,821
Estimated principal payments on loan debt	Estimated principal payments remaining on loan debt are as follows: Year AIF ACOA FPEI Kubota Total 2019 $ — $ 21,029 $ 30,964 $ 7,700 $ 59,693 2020 — 69,648 42,754 10,266 122,668 2021 — 69,648 44,496 10,266 124,410 2022 — 69,648 46,309 10,266 126,223 2023 — 69,648 1,080,595 10,266 1,160,509 Thereafter 2,150,780 275,804 — 11,123 2,437,707 Total $ 2,150,780 $ 575,425 $ 1,245,118 $ 59,887 $ 4,031,210

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Operating lease obligations and remaining payments	The table below summarizes the Company’s lease obligations and remaining payments at March 31, 2019: March 31, 2019 January 1, 2019 Lease Type End Date Remaining Years Remaining Payments Lease Liability Remaining Payments Lease Liability Maynard Office Lease Operating Mar 2023 4.00 $ 262,847 $ 222,931 $ 278,414 $ 234,685 Panama Farm Lease Operating Apr 2019 0.08 15,000 14,901 60,000 59,013 Indiana Auto Lease Operating Feb 2021 1.92 9,631 8,838 10,842 9,897 Indiana Well Lease Operating Dec 2048 29.78 713,650 227,442 717,420 228,844 Total leases $ 1,001,128 $ 474,112 $ 1,066,676 $ 532,439 Less: current portion (98,338 ) (74,177 ) (142,780 ) (117,345 ) Long-term leases $ 902,790 $ 399,935 $ 923,896 $ 415,094
Remaining payments under leases	Remaining payments under leases are as follows at March 31, 2019: Year Office Farm Auto Well Amount 2019 $ 47,292 $ 15,000 $ 3,632 $ 11,310 $ 77,234 2020 64,637 — 4,842 15,532 85,011 2021 66,416 — 1,157 15,998 83,571 2022 67,602 — — 16,478 84,080 2023 16,900 — — 16,972 33,872 Thereafter — — — 637,360 637,360 Total Lease Payments $ 262,847 $ 15,000 $ 9,631 $ 713,650 $ 1,001,128

Stockholders' equity (Tables)

Stockholders' equity (Tables)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Schedule of outstanding warrants	The following table summarizes information about outstanding warrants at March 31, 2019 : Number of warrant shares Weighted average exercise price Outstanding at December 31, 2018 1,745,868 $3.25 Exercised (76,797 ) 3.25 Outstanding at March 31, 2019 1,669,071 $3.25 Exercisable at March 31, 2019 1,669,071 $3.25
Schedule of restricted stock activity	A summary of the Company’s shares of restricted stock as of March 31, 2019 , is as follows: Shares Weighted average grant date fair value Balance at December 31, 2018 8,867 $3.51 Granted 176,561 2.13 Vested (40,623 ) 2.21 Balance at March 31, 2019 144,805 $2.19
Schedule of stock option activity	The Company’s option activity is summarized as follows: Number of options Weighted average exercise price Outstanding at December 31, 2018 339,964 $7.09 Issued 7,500 2.11 Outstanding at March 31, 2019 347,464 $6.98 Exercisable at March 31, 2019 326,382 $6.77
Summary of options outstanding and exercisable	The following table summarizes information about options outstanding and exercisable at March 31, 2019 : Weighted average exercise price of outstanding options Number of options outstanding Weighted average remaining estimated life (in years) Number of options exercisable Weighted average exercise price of outstanding and exercisable options $2.50 - $5.70 211,534 5.5 204,568 $6.90 - $9.60 53,175 3.5 53,175 $10.50 - $10.80 4,000 4.9 4,000 $14.20 - $23.40 78,755 7.0 64,639 347,464 326,382 $6.77

Basis of presentation (Details)

Basis of presentation (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash balance	$ 7,630,376	$ 2,990,196	$ 6,839,389	$ 492,861

Risks and uncertainties (Detail

Risks and uncertainties (Details)	Mar. 31, 2019USD ($)
Concentration of credit risk | Cash | Canada
Concentration Risk [Line Items]
Balance in Canadian bank accounts	$ 180,735

Inventory (Details)

Inventory (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Inventory [Line Items]
Inventory	$ 159,131	$ 76,109
Feed
Inventory [Line Items]
Inventory	44,236	24,288
Eggs
Inventory [Line Items]
Inventory	30,405	0
Packaging
Inventory [Line Items]
Inventory	4,554	8,913
Fish in process
Inventory [Line Items]
Inventory	$ 79,936	$ 42,908

Property, plant and equipment -

Property, plant and equipment - Schedule of property, plant and equipment (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 26,505,903	$ 25,973,037
Less accumulated depreciation and amortization	(2,571,278)	(2,256,269)
Property, plant and equipment, net	23,934,625	23,716,768
Land
Property, Plant and Equipment [Line Items]
Total property and equipment	711,336	704,567
Building and improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	9,284,732	9,244,737
Construction in process
Property, Plant and Equipment [Line Items]
Total property and equipment	6,545,566	6,091,265
Equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	9,743,545	9,713,030
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	193,333	192,606
Vehicles
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 27,391	$ 26,832

Property, plant and equipment_2

Property, plant and equipment - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Construction in process	$ 26,505,903	$ 25,973,037
Capital Additions | Rollo Bay farm site
Property, Plant and Equipment [Line Items]
Amount committed to renovations	828,000
Construction in process
Property, Plant and Equipment [Line Items]
Construction in process	6,545,566	$ 6,091,265
Construction in process | Rollo Bay farm site
Property, Plant and Equipment [Line Items]
Construction in process	$ 6,000,000

Accounts payable and accrued _3

Accounts payable and accrued liabilities (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Accounts payable	$ 279,471	$ 366,917
Accrued payroll including vacation	195,922	223,481
Accrued professional fees and research costs	344,635	185,992
Accrued franchise and excise tax	117,747	23,678
Accrued construction costs	4,503	13,716
Accrued other	15,780	11,116
Accounts payable and accrued liabilities	$ 958,058	$ 824,900

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details)	1 Months Ended	3 Months Ended
	Mar. 31, 2019CAD ($)	Mar. 31, 2019CAD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Total Debt			$ 4,031,210	$ 3,591,434
less: current portion			(90,200)	(71,613)
Long-term debt			3,941,010	3,519,821
ACOA AIF Grant (C$2,871,919)
Debt Instrument [Line Items]
Total Debt			2,150,780
Kubota Canada Ltd (C$95,961)
Debt Instrument [Line Items]
Total Debt			59,887
Finance PEI term loan (C$2,717,093)
Debt Instrument [Line Items]
Total Debt			$ 1,245,118
Government grant | ACOA AIF Grant (C$2,871,919)
Debt Instrument [Line Items]
Original loan amount	$ 2,871,919	$ 2,871,919
Interest rate	0.00%	0.00%	0.00%
Total Debt			$ 2,150,780	2,106,840
Term loan | ACOA term loan (C$337,000)
Debt Instrument [Line Items]
Original loan amount	$ 337,000	$ 337,000
Interest rate	0.00%	0.00%	0.00%
Monthly repayment		$ 3,120
Total Debt			$ 200,975	203,735
Term loan | ACOA term loan (C$500,000)
Debt Instrument [Line Items]
Original loan amount	$ 500,000	$ 500,000
Interest rate	0.00%	0.00%	0.00%
Monthly repayment		$ 4,630
Total Debt			$ 374,450	0
Debt instrument term (in years)	9 years
Term loan | Kubota Canada Ltd (C$95,961)
Debt Instrument [Line Items]
Original loan amount	$ 95,961	$ 95,961
Interest rate	0.00%	0.00%	0.00%
Monthly repayment		$ 1,142
Total Debt			$ 59,887	61,178
Term loan | Finance PEI term loan (C$2,717,093)
Debt Instrument [Line Items]
Original loan amount	$ 717,093	$ 717,093
Interest rate	4.00%	4.00%	4.00%
Monthly repayment		$ 4,333
Total Debt			$ 1,245,118	$ 1,219,681

Debt - Debt Maturities (Details

Debt - Debt Maturities (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Year
2019	$ 59,693
2020	122,668
2021	124,410
2022	126,223
2023	1,160,509
Thereafter	2,437,707
Total	4,031,210	$ 3,591,434
Atlantic Canada Opportunities Agency AIF Grant
Year
2019	0
2020	0
2021	0
2022	0
2023	0
Thereafter	2,150,780
Total	2,150,780
Atlantic Canada Opportunities Agency Term Loan
Year
2019	21,029
2020	69,648
2021	69,648
2022	69,648
2023	69,648
Thereafter	275,804
Total	575,425
PEI Finance Term Loan
Year
2019	30,964
2020	42,754
2021	44,496
2022	46,309
2023	1,080,595
Thereafter	0
Total	1,245,118
Kubota Canada Ltd
Year
2019	7,700
2020	10,266
2021	10,266
2022	10,266
2023	10,266
Thereafter	11,123
Total	$ 59,887

Debt - Additional Information (

Debt - Additional Information (Details)	1 Months Ended	3 Months Ended
	Mar. 31, 2019CAD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)
Debt Instrument [Line Items]
Interest expense on debt		$ 12,337	$ 5,331
Term loan | ACOA term loan (C$500,000)
Debt Instrument [Line Items]
Debt instrument term (in years)	9 years
Original loan amount	$ 500,000

Leases Lease Obligations (Detai

Leases Lease Obligations (Details) - USD ($)	Mar. 31, 2019	Jan. 01, 2019
Remaining Years	22 years 3 months 18 days
Remaining Payments	$ 1,001,128	$ 1,066,676
Lease Liability	474,112	532,439
Remaining payments, current portion	(98,338)	(142,780)
Lease liability, current portion	(74,177)	(117,345)
Remaining payments, long-term leases	902,790	923,896
Lease liability, long-term leases	$ 399,935	415,094
Maynard Office Lease
Remaining Years	4 years
Remaining Payments	$ 262,847	278,414
Lease Liability	$ 222,931	234,685
Panama Farm Lease
Remaining Years	29 days
Remaining Payments	$ 15,000	60,000
Lease Liability	$ 14,901	59,013
Indiana auto lease
Remaining Years	1 year 11 months 1 day
Remaining Payments	$ 9,631	10,842
Lease Liability	$ 8,838	9,897
Indiana well lease
Remaining Years	29 years 9 months 11 days
Remaining Payments	$ 713,650	717,420
Lease Liability	$ 227,442	$ 228,844

Leases Remaining Lease Payments

Leases Remaining Lease Payments (Details) - USD ($)	Mar. 31, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
2019	$ 77,234
2020	85,011
2021	83,571
2022	84,080
2023	33,872
Thereafter	637,360
Total Lease Payments	1,001,128	$ 1,066,676
Office
Lessee, Lease, Description [Line Items]
2019	47,292
2020	64,637
2021	66,416
2022	67,602
2023	16,900
Thereafter	0
Total Lease Payments	262,847
Farm
Lessee, Lease, Description [Line Items]
2019	15,000
2020	0
2021	0
2022	0
2023	0
Thereafter	0
Total Lease Payments	15,000
Auto
Lessee, Lease, Description [Line Items]
2019	3,632
2020	4,842
2021	1,157
2022	0
2023	0
Thereafter	0
Total Lease Payments	9,631
Well
Lessee, Lease, Description [Line Items]
2019	11,310
2020	15,532
2021	15,998
2022	16,478
2023	16,972
Thereafter	637,360
Total Lease Payments	$ 713,650

Leases Additional Information (

Leases Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Additional Information [Abstract]
Weighted average remaining lease term, all operating leases	22 years 3 months 18 days
Weighted average discount rate of remaining lease payments	8.00%
Lease liability	$ 399,935	$ 532,000	$ 0
Right of use asset	454,890	$ 512,000	$ 0
Lease expense	65,153
Lease payments	$ 65,548

Stockholders' equity - Recent I

Stockholders' equity - Recent Issuances (Details) - March 2019 Public Offering [Member] $ in Millions	1 Months Ended
	Mar. 31, 2019USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from public offering | $	$ 6.6
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issued (in shares) | shares	3,345,282

Stockholders' equity - Warrants

Stockholders' equity - Warrants (Details) - Warrant $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)$ / sharesshares
Number of options
Outstanding, beginning balance (in shares) | shares	1,745,868
Exercised (in shares) | shares	(76,797)
Outstanding, ending balance (in shares) | shares	1,669,071
Exercisable (in shares) | shares	1,669,071
Weighted average exercise price
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 3.25
Exercised (in dollars per share) | $ / shares	3.25
Outstanding, ending balance (in dollars per share) | $ / shares	3.25
Exercisable (in dollars per share) | $ / shares	$ 3.25
Proceeds from Warrant Exercises | $	$ 250

Stockholders' equity - Restrict

Stockholders' equity - Restricted stock activity (Details) - Restricted Stock	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Shares
Beginning balance (in shares) | shares	8,867
Granted (in shares) | shares	176,561
Vested (in shares) | shares	(40,623)
Ending balance (in shares) | shares	144,805
Weighted average grant date fair value
Beginning balance (in dollars per share) | $ / shares	$ 3.51
Granted (in dollars per share) | $ / shares	2.13
Vested (in dollars per share) | $ / shares	2.21
Ending balance (in dollars per share) | $ / shares	$ 2.19

Stockholders' equity - Stock op

Stockholders' equity - Stock option activity (Details)	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Number of options
Outstanding, beginning balance (in shares) | shares	339,964
Issued (in shares) | shares	7,500
Outstanding, ending balance (in shares) | shares	347,464
Exercisable (in shares) | shares	326,382
Weighted average exercise price
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 7.09
Issued (in dollars per share) | $ / shares	2.11
Outstanding, ending balance (in dollars per share) | $ / shares	6.98
Exercisable (in dollars per share) | $ / shares	$ 6.77

Stockholders' equity - Summary

Stockholders' equity - Summary of options outstanding and exercisable (Details)	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding (in shares)	347,464
Number of options exercisable (in shares)	326,382
Weighted average exercise price of outstanding and exercisable options (in dollars per share) | $ / shares	$ 6.77
$2.50 - $5.70
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding (in shares)	211,534
Weighted average remaining estimated life (in years)	5 years 6 months
Number of options exercisable (in shares)	204,568
$6.90 - $9.60
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding (in shares)	53,175
Weighted average remaining estimated life (in years)	3 years 6 months
Number of options exercisable (in shares)	53,175
$10.50 - $10.80
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding (in shares)	4,000
Weighted average remaining estimated life (in years)	4 years 10 months 24 days
Number of options exercisable (in shares)	4,000
$14.20 - $23.40
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding (in shares)	78,755
Weighted average remaining estimated life (in years)	7 years
Number of options exercisable (in shares)	64,639
Minimum | $2.50 - $5.70
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	$ 2.50
Minimum | $6.90 - $9.60
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	6.90
Minimum | $10.50 - $10.80
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	10.50
Minimum | $14.20 - $23.40
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	14.20
Maximum | $2.50 - $5.70
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	5.70
Maximum | $6.90 - $9.60
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	9.60
Maximum | $10.50 - $10.80
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	10.80
Maximum | $14.20 - $23.40
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted average price of outstanding options (in dollars per share) | $ / shares	$ 23.40

Stockholders' equity - Addition

Stockholders' equity - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 138,498	$ 48,546
Weighted average fair value of stock options granted (in dollars per share)	$ 1.48
Intrinsic value of options outstanding	$ 600		$ 0
Intrinsic value of options exercisable	43		$ 0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unearned share-based compensation expense	$ 316,699
Period of recognition	3 years
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of recognition	1 year
Share-based compensation	$ 47,864	41,579
Unearned share-based compensation expense	$ 74,780
Expiration period	10 years
Expected volatility rate, stock options granted in period	89.00%
Risk free interest rate, stock options granted in period	2.53%
Expected dividend yield, stock options granted in period	0.00%
Expected life (in years), stock options granted in period	5 years
Employee Stock Option | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Employee Stock Option | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Chairman | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 90,634	$ 6,967

Related Party Collaboration A_2

Related Party Collaboration Agreement (Details) - Intrexon Corporation - ECC Agreement - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Accounts Payable and Accrued Liabilities
Related Party Transaction [Line Items]
Accounts payable and accrued liabilities	$ 2,821		$ 800
Research and Development Expense
Related Party Transaction [Line Items]
Service costs incurred	$ 10,810	$ 91,148

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] $ in Thousands	1 Months Ended
	Apr. 30, 2019USD ($)shares
April 2019 Public Offering [Member]
Subsequent Event [Line Items]
Proceeds from common shares offering | $	$ 5,200
Overallotment exercise [Member]
Subsequent Event [Line Items]
Proceeds from common shares offering | $	$ 696
Common Stock | April 2019 Public Offering [Member]
Subsequent Event [Line Items]
Issuance of common stock and warrants, net of expenses (in shares) | shares	2,554,590
Common Stock | Overallotment exercise [Member]
Subsequent Event [Line Items]
Issuance of common stock and warrants, net of expenses (in shares) | shares	346,488