Cover Page
Cover Page | 9 Months Ended |
Sep. 30, 2020 | |
Cover [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Sep. 30, 2020 |
Entity Registrant Name | ASLAN Pharmaceuticals Ltd |
Entity Central Index Key | 0001722926 |
Current Fiscal Year End Date | --12-31 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 12,060,285 | $ 22,203,031 |
Other Receivables | 12,552 | |
Prepayments | 341,978 | 68,923 |
Total current assets | 12,414,815 | 22,271,954 |
NON-CURRENT ASSETS | ||
Financial assets at fair value through profit or loss | 157,675 | 68,256 |
Financial assets at fair value through other comprehensive income | 33,810 | 132,160 |
Property, plant and equipment, net | 19,943 | 38,333 |
Right-of-use assets | 528,751 | 727,866 |
Intangible assets | 402 | 2,845 |
Refundable deposits | 108,541 | 108,076 |
Total non-current assets | 849,122 | 1,077,536 |
TOTAL ASSETS | 13,263,937 | 23,349,490 |
CURRENT LIABILITIES | ||
Trade payables | 2,230,083 | 1,871,843 |
Other payables | 2,745,853 | 3,246,842 |
Lease Liabilities – current | 327,040 | 264,543 |
Other current liabilities | 918,150 | |
Total current liabilities | 6,221,126 | 5,383,228 |
NON-CURRENT LIABILITIES | ||
Financial liabilities at fair value through profit or loss | 115,600 | 262,350 |
Long-term borrowings | 17,499,076 | 17,065,305 |
Long-term borrowings from related parties | 603,702 | 566,176 |
Lease Liabilities – non-current | 281,149 | 490,835 |
Other non-current liabilities | 95,926 | 184,870 |
Total non-current liabilities | 18,595,453 | 18,569,536 |
Total liabilities | 24,816,579 | 23,952,764 |
DEFICIT ATTRIBUTABLE TO STOCKHOLDERS OF THE COMPANY | ||
Ordinary shares | 61,366,844 | 61,366,844 |
Capital surplus | 116,495,710 | 116,495,710 |
Accumulated deficits | (189,751,895) | (179,484,825) |
Other reserves | (153,434) | (55,084) |
Total deficit attributable to stockholders of the Company | (12,042,775) | (1,677,355) |
NON-CONTROLLING INTERESTS | 490,133 | 1,074,081 |
Total deficit | (11,552,642) | (603,274) |
TOTAL LIABILITIES AND EQUITY | $ 13,263,937 | $ 23,349,490 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Comprehensive Loss - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Statement Of Comprehensive Income [Abstract] | ||
NET REVENUE | $ 3,000,000 | |
COST OF REVENUE | (425,000) | |
GROSS PROFIT | 2,575,000 | |
OPERATING EXPENSES | ||
General and administrative expenses | $ (4,173,041) | (5,253,502) |
Research and development expenses | (6,427,094) | (13,883,992) |
Total operating expenses | (10,600,135) | (19,137,494) |
LOSS FROM OPERATIONS | (10,600,135) | (16,562,494) |
NON-OPERATING INCOME AND EXPENSES | ||
Interest income | 438 | 144,417 |
Other gains and losses | 504,494 | (38,290) |
Finance costs | (921,514) | (608,502) |
Total non-operating income and expenses | (416,582) | (502,375) |
LOSS BEFORE INCOME TAX | (11,016,717) | (17,064,869) |
INCOME TAX (EXPENSE) BENEFIT | 165,699 | (395,290) |
NET LOSS FOR THE PERIOD | (10,851,018) | (17,460,159) |
Items that will not be reclassified subsequently to profit or loss: | ||
Unrealized loss on investments in equity instruments at fair value through other comprehensive income | (98,350) | (9,046) |
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD | (10,949,368) | (17,469,205) |
NET LOSS ATTRIBUTABLE TO | ||
Stockholders of the Company | (10,267,070) | (17,460,159) |
Noncontrolling interests | (583,948) | |
Profit (loss) | (10,851,018) | (17,460,159) |
TOTAL COMPREHENSIVE LOSS ATTRIBUTABLE TO | ||
Stockholders of the Company | (10,365,420) | (17,469,205) |
Noncontrolling interests | (583,948) | |
Comprehensive income | $ (10,949,368) | $ (17,469,205) |
LOSS PER ORDINARY SHARE | ||
Basic and diluted | $ (0.05) | $ (0.11) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Equity - USD ($) | Total | Ordinary Shares | Capital Surplus | Capital SurplusOrdinary Shares | Capital SurplusShare Options Reserve | Capital SurplusOther | Accumulated Deficits | Unrealized Valuation Loss on Financial Assets at Fair Value Through Other Comprehensive Income | Non-controlling Interests |
Beginning balance at Dec. 31, 2018 | $ 30,618,033 | $ 51,627,219 | $ 111,459,672 | $ 105,143,362 | $ 6,316,310 | $ (132,468,858) | |||
Beginning balance, Number of ordinary shares at Dec. 31, 2018 | 160,248,940 | ||||||||
Recognition of employee share options by the Company | 42,511 | 42,511 | 42,511 | ||||||
Net loss | (17,460,159) | (17,460,159) | |||||||
Other comprehensive loss, net of income tax | (9,046) | $ (9,046) | |||||||
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD | (17,469,205) | (17,460,159) | (9,046) | ||||||
Ending balance at Sep. 30, 2019 | 13,191,339 | $ 51,627,219 | 111,502,183 | 105,143,362 | 6,358,821 | (149,929,017) | 9,046 | ||
Ending balance, Number of ordinary shares at Sep. 30, 2019 | 160,248,940 | ||||||||
Beginning balance at Dec. 31, 2018 | 30,618,033 | $ 51,627,219 | 111,459,672 | 105,143,362 | 6,316,310 | (132,468,858) | |||
Beginning balance, Number of ordinary shares at Dec. 31, 2018 | 160,248,940 | ||||||||
Net loss | (47,015,967) | ||||||||
Ending balance at Dec. 31, 2019 | (603,274) | $ 61,366,844 | 116,495,710 | 108,800,191 | 6,274,591 | $ 1,420,928 | (179,484,825) | (55,084) | 1,074,081 |
Ending balance, Number of ordinary shares at Dec. 31, 2019 | 189,954,970 | ||||||||
Net loss | (10,851,018) | (10,267,070) | (583,948) | ||||||
Other comprehensive loss, net of income tax | (98,350) | (98,350) | |||||||
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD | (10,949,368) | (10,267,070) | (98,350) | (583,948) | |||||
Ending balance at Sep. 30, 2020 | $ (11,552,642) | $ 61,366,844 | $ 116,495,710 | $ 108,800,191 | $ 6,274,591 | $ 1,420,928 | $ (189,751,895) | $ 153,434 | $ 490,133 |
Ending balance, Number of ordinary shares at Sep. 30, 2020 | 189,954,970 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Loss before income tax | $ (11,016,717) | $ (17,064,869) |
Adjustments for: | ||
Depreciation expenses | 222,561 | 357,074 |
Amortization expenses | 2,443 | 3,369 |
Net loss(gain) on fair value changes of financial assets and liabilities at fair value through profit or loss | (236,169) | 21,998 |
Finance costs | 921,514 | 608,502 |
Interest income | (438) | (144,417) |
Compensation costs recognized of share-based payment transactions | 198,720 | (212,551) |
Loss (Gain) on disposal of property, plant and equipment | (359) | 75,296 |
Unrealized gain on foreign exchange, net | (163,207) | (140,774) |
Loss on lease modification | 64,287 | |
Gain on rent concession | (23,117) | |
Changes in operating assets and liabilities | ||
Increase in other receivables | (12,552) | |
Decrease (Increase) in prepayments | (273,055) | 40,479 |
(Decrease) Increase in trade payables | 358,240 | (3,080,505) |
Decrease in other payables | (1,045,556) | (992,887) |
Increase in other current liabilities | 918,150 | |
Cash used in operations | (10,149,542) | (20,464,998) |
Interest received | 438 | 144,417 |
Interest paid | (30,108) | (24,374) |
Income tax (paid) refund | 165,699 | (395,290) |
Net cash used in operating activities | (10,013,513) | (20,740,245) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Payments for property, plant and equipment | (5,056) | (2,993) |
Proceeds from disposal of property, plant and equipment | 359 | 4,300 |
Decrease (Increase) in refundable deposits | (465) | 2,545 |
Net cash generated from (used in) investing activities | (5,162) | 3,852 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Repayment of the principal portion of lease liabilities | (124,071) | (179,050) |
Net cash used in financing activities | (124,071) | (179,050) |
NET DECREASE IN CASH AND CASH EQUIVALENTS | (10,142,746) | (20,915,443) |
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD | 22,203,031 | 28,908,901 |
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | $ 12,060,285 | $ 7,993,458 |
General Information
General Information | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of Detailed Information about Businesses and Intragroup Relationship of Group [abstract] | |
General Information | 1. GENERAL INFORMATION ASLAN Pharmaceuticals Limited (“ASLAN Cayman”) was incorporated in the Cayman Islands in June 2014 and is the listing vehicle for our listing on the Nasdaq Global Market in the United States. ASLAN Cayman and its subsidiaries (collectively referred to as the “Company”) are principally engaged in the development of innovative treatments to transform the lives of patients. The main businesses and intragroup relationships of the Company were as follows as of September 30, 2020: Name Place of Incorporation Date of Incorporation Main Business ASLAN Pharmaceuticals Limited Cayman Islands June 2014 Investment holding ASLAN Pharmaceuticals Pte. Ltd. Singapore April 2010 New drug research and development ASLAN Pharmaceuticals Taiwan Limited Taiwan November 2013 New drug research and development ASLAN Pharmaceuticals Australia Pty Ltd. Australia July 2014 New drug research and development ASLAN Pharmaceuticals Hong Kong Limited Hong Kong July 2015 New drug research and development ASLAN Pharmaceuticals (Shanghai) Co. Ltd. China May 2016 New drug research and development ASLAN Pharmaceuticals (USA) Inc. United States of America October 2018 New drug research and development Jaguahr Therapeutics Pte. Ltd. Singapore August 2019 New drug research and development [GRAPHIC] ASLAN Pharmaceuticals Pte. Ltd. was incorporated in Singapore in April 2010 and ASLAN Pharmaceuticals Limited was incorporated in Cayman Islands in June 2014 as the listing vehicle for the initial public offering and listing on the TPEx in 2017 and listing on the Nasdaq Global Market sponsored with its issuance of American Depositary Shares (“ADSs”) since May 4, 2018. On July 16, 2020, TPEx notified the Company that the Company showed a negative net worth and lack of operating revenue for the six months ending June 30, 2020, resulting in the Company’s failure to meet TPEx’s listing standards provided in subparagraph 4, paragraph 1, Article 12-2 On September 17, 2020, the Company received the approval from Financial Supervisory Commission by an official letter of the Cessation of the Company’s public company status in Taiwan. As of September 30, 2020, the Company is only listed on Nasdaq Global Market. The Company has financed its operations to date primarily through the issuance of common shares. The Company has incurred net losses since inception. Please refer to Notes 22 and 23 for details of the Company’s current fund raising plan. In addition to its main product candidates, the Company has other earlier stage products candidates in development. On October 15, 2019, the Company established a joint venture with Bukwang Pharmaceutical Co., Ltd., a leading research and development focused Korean pharmaceutical company, to develop antagonists of the aryl hydrocarbon receptor (AhR). The joint venture company, in which the Company currently owns a controlling stake, is called Jaguahr Therapeutics Pte. Ltd. Both the reporting and functional currency of the Company is the U.S. dollar. |
Approval of Financial Statement
Approval of Financial Statements | 9 Months Ended |
Sep. 30, 2020 | |
Income Tax [Abstract] | |
Approval of Financial Statements | 2. APPROVAL OF FINANCIAL STATEMENTS The accompanying condensed consolidated financial statements were reviewed and approved by the Company’s Audit Committee on January 28, 2021. |
Application of New Amended and
Application of New Amended and Revised Standards and Interpretations | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of initial application of standards or interpretations [abstract] | |
Application of New Amended and Revised Standards and Interpretations | 3. APPLICATION OF NEW, AMENDED AND REVISED STANDARDS AND INTERPRETATIONS a. Amendments to the International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) mandatorily effective for the current year. The Company has applied the amendments to IFRSs included in Amendments to IFRS 3 “Definition of a Business”, Amendments to IFRS 9, IAS 39 and IFRS 7 “Interest Rate Benchmark Reform” and Amendments to IAS 1 and IAS 8 “Definition of Material” for the annual period that began on or after January 1, 2020 and Amendment to IFRS 16 “Covid-19-Related The application of these amendments has had no material impact on disclosures or amounts recognized in the Company’s condensed consolidated financial statements. b. New and revised IFRSs issued but not yet effective Of the new, amended and revised standards and interpretations (collectively the “New IFRSs”) that have been issued but are not yet effective, the Company has not applied the following. New IFRSs Effective Date Announced by IASB (Note 1) “Annual Improvements to IFRS Standards 2018–2020” January 1, 2022 (Note 2) Amendments to IFRS 3 “Reference to the Conceptual Framework” January 1, 2022 (Note 3) Amendments to IFRS 4 “Extension of the Temporary Exemption from Applying IFRS 9” Effective immediately upon promulgation by the IASB Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 “Interest Rate Benchmark Reform - Phase 2” January 1, 2021 Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets between An Investor and Its Associate or Joint Venture” To be determined by IASB IFRS 17 “Insurance Contracts” January 1, 2023 Amendments to IFRS 17 January 1, 2023 Amendments to IAS 1 “Classification of Liabilities as Current or Non-current” January 1, 2023 Amendments to IAS 16 “Property, Plant and Equipment - Proceeds before Intended Use” January 1, 2022 (Note 4) Amendments to IAS 37 “Onerous Contracts–Cost of Fulfilling a Contract” January 1, 2022 (Note 5) Note 1: Unless stated otherwise, the above New IFRSs are effective for annual reporting periods beginning on Note 2: The amendments to IFRS 9 are applied prospectively to modifications and exchanges of financial liabilities that occur on or after the annual reporting periods beginning on or after January 1, 2022. The amendments to IAS 41 “Agriculture” are applied prospectively to the fair value measurements on or after the annual reporting periods beginning on or after January 1, 2022. The amendments to IFRS 1 “First-time Adoptions of IFRSs” are applied retrospectively for annual reporting periods beginning on or after January 1, 2022. Note 3: The amendments are applicable to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after January 1, 2022. Note 4: The amendments are applicable to property, plant and equipment that are brought to the location and condition necessary for them to be capable of operating in the manner intended by management on or after January 1, 2021. Note 5: The amendments are applicable to contracts for which the entity has not yet fulfilled all its obligations on January 1, 2022. As of the date the condensed consolidated financial statements were authorized for issue, the Company is continuously assessing the possible impact that the application of other standards and interpretations will have on the Company’s financial position and financial performance and will disclose the relevant impact when the assessment is completed. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of significant accounting policies [abstract] | |
Summary of significant accounting policies | 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a. Statement of compliance The condensed consolidated financial statements have been prepared in accordance with IAS 34 “Interim Financial Reporting”. The condensed consolidated financial statements are not subject to qualification relating to the application of IFRSs as issued by IASB. b. Basis of preparation The condensed consolidated financial statements have been prepared on the historical cost basis except for financial instruments and other payable arising from cash-settled share-based payment arrangements which are measured at fair value. c. Basis of consolidation The condensed consolidated financial statements include the financial statements of the ASLAN Cayman and its subsidiaries. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the Company. All intragroup transactions, balances, income and expenses are eliminated in full upon consolidation. d. Other significant accounting policies Refer to the summary of significant accounting policies for the consolidated financial statements for the year ended December 31, 2019, unless otherwise stated below. Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. Interim period income taxes are assessed on an annual basis and calculated by applying to an interim period’s pre-tax |
Critical Accounting Judgments a
Critical Accounting Judgments and Key Sources of Estimation Uncertainty | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of accounting judgements and estimates [abstract] | |
Critical Accounting Judgements and Key Sources of Estimation Uncertainty | 5. CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY In the application of the Company’s accounting policies, management is required to make judgments, estimations, and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The inputs into our judgments and estimates consider the economic implications of COVID-19 The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised if the revisions affect only that period or in the period of the revisions and future periods if the revisions affect both current and future periods. For the critical accounting judgments and key sources of estimation uncertainty and assumption applied in the condensed consolidated financial statements, refer to the consolidated financial statements for the year ended December 31, 2019. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 9 Months Ended |
Sep. 30, 2020 | |
Cash and cash equivalents [abstract] | |
Cash and Cash Equivalents | 6. CASH AND CASH EQUIVALENTS December 31, September 30, 2020 Cash on hand $ 1,723 $ 1,723 Deposits in banks 22,201,308 12,058,562 $ 22,203,031 $ 12,060,285 Deposits in banks consisted of highly liquid time deposits that were readily convertible to known amounts of cash and were subject to an insignificant risk or changes in value. |
Financial Instruments at Fair V
Financial Instruments at Fair Value Through Profit or Loss | 9 Months Ended |
Sep. 30, 2020 | |
Financial assets at fair value through profit or loss [abstract] | |
Financial Instruments at Fair Value Through Profit or Loss | 7. FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS December 31, September 30, Financial assets at fair value through profit or loss (FVTPL) - Non-current Financial assets mandatorily classified as at FVTPL Derivative financial assets - warrants (a) $ 13,019 $ 287 Derivative financial assets - pre-redemption 55,237 157,388 $ 68,256 $ 157,675 Financial liabilities at fair value through profit or loss (FVTPL) - Non-current Financial liabilities at FVTPL Derivative financial liabilities - conversion right (c) $ 262,350 $ 115,600 a. In July 2018, the Company acquired warrants to subscribe for ordinary shares of DotBio Pte. Ltd., as detailed in Note 17 (under the heading of “Nanyang Technological University”). b. On October 25, 2019, the Company entered into a loan facility agreement with warrants and was entitled to repay at any time prior to expiry of the term, as detailed in Note 14 (under the heading of “October/November 2019 Loan Facility”). c. On September 30, 2019, the Company entered into a convertible loan facility, as detailed in Note 14 (under the heading of “Convertible Loan Facility”). |
Financial Assets At Fair Value
Financial Assets At Fair Value Through Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2020 | |
Financial assets at fair value through other comprehensive income [abstract] | |
Financial Assets At Fair Value Through Other Comprehensive Income | 8. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME December 31, 2019 September 30, 2020 Non-current Investments in equity instruments at fair value through other comprehensive income (FVTOCI) Foreign unlisted ordinary shares $ 132,160 $ 33,810 In July 2018, the Company acquired ordinary shares of DotBio Pte. Ltd., as detailed in Note 17 (under the heading of Nanyang Technological University), which were not held for trading. The management believes that to recognize short-term fluctuations in the investments’ fair value in profit or loss would not be consistent with the Company’s purpose of holding the investments. As a result, the Company elected to designate the investments in equity instruments as at FVTOCI. |
Details of Subsidiaries that ha
Details of Subsidiaries that have Material Non-Controlling Interests | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of subsidiaries [abstract] | |
Details of Subsidiaries that have Material Non-Controlling Interests | 9. DETAILS OF SUBSIDIARIES THAT HAVE MATERIAL NON-CONTROLLING There is no material change related to non-controlling |
Property, Plant and Equipment
Property, Plant and Equipment | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property, Plant and Equipment | 10. PROPERTY, PLANT AND EQUIPMENT The carrying amounts of each class of property, plant and equipment were as follows: December 31, September 30, Office equipment $ 31,105 $ 17,997 Other equipment 1,938 57 Leasehold improvements 5,290 1,889 $ 38,333 $ 19,943 For the nine months ended September 30, 2019 Office Other Leasehold Total Cost Balance at January 1, 2019 $ 276,935 $ 36,180 $ 488,106 $ 801,221 Additions 2,993 — — 2,993 Disposals (65,292 ) (889 ) (219,733 ) (285,914 ) Balance at September 30, 2019 $ 214,636 $ 35,291 $ 268,373 $ 518,300 Accumulated depreciation Balance at January 1, 2019 $ 178,115 $ 25,128 $ 309,560 $ 512,803 Depreciation expenses 44,591 7,357 103,715 155,663 Disposals (47,397 ) (518 ) (158,403 ) (206,318 ) Balance at September 30, 2019 $ 175,309 $ 31,967 $ 254,872 $ 462,148 Carrying amounts at January 1, 2019 $ 98,820 $ 11,052 $ 178,546 $ 288,418 Carrying amounts at September 30, 2019 $ 39,327 $ 3,324 $ 13,501 $ 56,152 For the nine months ended September 30, 2020 Office Other Leasehold Total Cost Balance at January 1, 2020 $ 211,315 $ 35,291 $ 268,373 $ 514,979 Additions 5,056 — — 5,056 Disposals (2,806 ) — — (2,806 ) Balance at September 30, 2020 $ 213,565 $ 35,291 $ 268,373 $ 517,229 Accumulated depreciation Balance at January 1, 2020 $ 180,210 $ 33,353 $ 263,083 $ 476,646 Depreciation expenses 18,164 1,881 3,401 23,446 Disposals (2,806 ) — — (2,806 ) Balance at September 30, 2020 $ 195,568 $ 35,234 $ 266,484 $ 497,286 Carrying amounts at January 1, 2020 $ 31,105 $ 1,938 $ 5,290 $ 38,333 Carrying amounts at September 30, 2020 $ 17,997 $ 57 $ 1,889 $ 19,943 The above items of property, plant and equipment used by the Company are depreciated on a straight-line basis over the estimated useful life of 3 years. |
Lease Arrangements
Lease Arrangements | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of quantitative information about right-of-use assets [abstract] | |
Lease Arrangements | 11. LEASE ARRANGEMENTS a. Right-of-use December 31, September 30, Carrying amounts Buildings $ 727,866 $ 528,751 For the nine months ended September 30 2019 2020 Additions to right-of-use $ 882,670 $ — Depreciation charge for right-of-use Buildings $ 201,411 $ 199,115 b. Lease liabilities December 31, September 30, Carrying amounts Current $ 264,543 $ 327,040 Non-current 490,835 281,149 $ 755,378 $ 608,189 Discount rate for lease liabilities was as follows: December 31, September 30, Buildings 6 % 6 % c. Material lease-in The Company leases office buildings with lease terms of 3 years. These arrangements do not contain purchase options at the end of the lease terms. Certain of the office buildings leases across the Company contain extension options. These terms are used to maximize operational flexibility in terms of managing contracts. In cases in which the Company is not reasonably certain to use an optional extended lease term, payments associated with the optional period are not included within lease liabilities. If the payments associated with the optional period are included within lease liabilities, there will be an increase in lease liabilities of $736,377 as of September 30, 2020. d. Other lease information For the nine months ended September 30 2019 2020 Expenses relating to short-term leases $ 216,201 $ 105,370 Expenses relating to low-value $ 6,198 $ 2,572 Total cash outflow for leases $ 425,821 $ 262,121 The Company leases certain office building s low-value right-of-use All lease commitments with lease terms commencing after the balance sheet dates are as foll o December 31, 2019 September 30, 2020 Lease commitments $ 67,935 $ 2,867 |
Intangible Assets
Intangible Assets | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of detailed information about intangible assets [abstract] | |
Intangible Assets | 12. INTANGIBLE ASSETS The carrying amounts of each clas s December 31, September 30, Licenses $ — $ — Computer software 2,845 402 $ 2,845 $ 402 For the nine months ended September 30, 2019 Licenses Computer Total Cost Balance at January 1, 2019 and September 30, 2019 $ 23,073,400 $ 43,070 $ 23,116,470 Accumulated amortization Balance at January 1, 2019 $ — $ 35,878 $ 35,878 Amortization expenses — 3,369 3,369 Balance at September 30, 2019 $ — $ 39,247 $ 39,247 Carrying amounts at January 1, 2019 $ 23,073,400 $ 7,192 $ 23,080,592 Carrying amounts at September 30, 2019 $ 23,073,400 $ 3,823 $ 23,077,223 For the nine months ended September 30, 2020 Licenses Computer Total Cost Balance at January 1, 2020 and September 30, 2020 $ 23,073,400 $ 43,070 $ 23,116,470 Accumulated amortization and impairment Balance at January 1, 2020 $ 23,073,400 $ 40,225 $ 23,113,625 Amortization expenses — 2,443 2,443 Balance at September 30, 2020 $ 23,073,400 $ 42,668 $ 23,116,068 Carrying amounts at January 1, 2020 $ — $ 2,845 $ 2,845 Carrying amounts at September 30, 2020 $ — $ 402 $ 402 The intangibl e . On July 5, 2019, the Company decided not to engage in further development of the licensed intellectual property for ASLAN005 from ETPL. The agreement relating to the research collaboration with ETPL’s P53 Laboratory was terminated on September On November 11, 2019, the Company announced that the global pivotal clinical trial testing varlitinib in biliary tract cancer did not meet its primary endpoints. As a result, the Company decided to stop investing in the further development of varlitinib at this time and the estimated future cash flows expected to arise from the drug decreased. The Company carried out a review of the recoverable amount of varlitinib and determined that the carrying amount of $23 million was not recoverable. The review led to the recognition of an impairment loss of $23 million for the year ended December 31, 2019. Though the Company may decide to conduct exploratory research in the future, no resources have been allocated for its development and there is no guarantee that resources will be allocated in the future. Computer software is amortized on a straight-line basis over the estimated useful life of 3 years. |
Other Payables
Other Payables | 9 Months Ended |
Sep. 30, 2020 | |
Trade and other payables [abstract] | |
Other Payables | 13. OTHER PAYABLES December 31, September 30, Payables for cash-settled share-based payment transactions (Note 21) $ 755,787 $ 1,074,741 Payables for salaries and bonuses 1,037,213 692,961 Interest payables 392,970 649,875 Payables for professional fees 923,726 244,994 Others 137,146 83,282 $ 3,246,842 $ 2,745,853 |
Long-Term Borrowings
Long-Term Borrowings | 9 Months Ended |
Sep. 30, 2020 | |
Borrowings [abstract] | |
Long Term Borrowings | 14. LONG-TERM BORROWINGS December 31, September 30, Unsecured borrowings Loans from government $ 7,361,124 $ 7,245,041 Other long-term borrowings 4,813,176 4,894,331 Interest payables 3,183,507 3,654,938 Loans from shareholders 1,707,498 1,704,766 $ 17,065,305 $ 17,499,076 Unsecured borrowings from related parties Loans from related parties $ 552,426 $ 551,541 Interest payables 13,750 52,161 $ 566,176 $ 603,702 a. Loans from government On April 27, 2011, the Singapore Economic Development Board (EDB) awarded the Company a repayable grant (the “Grant”) not exceeding SGD10 million to support the Company’s drug development activities over a five-year qualifying period commencing February 24, 2011 (the “Project”). The Project was successfully implemented, resulting in substantially the full amount of the Grant being disbursed to the Company. In the event any of the Company’s clinical product candidates achieve commercial approval after Phase 3 clinical trials, the Company will be required to repay the funds disbursed to the Company under the Grant plus interest of 6%. Until the Company has fulfilled its repayment obligations under the Grant, the Company has ongoing update and reporting obligations to the EDB. In the event the Company breaches any of its ongoing obligations under the Grant, EDB can revoke the Grant and demand that the Company repay the funds disbursed to the Company under the Grant. As of December 31, 2019 and September 30, 2020, the amounts of funds disbursed to the Company plus accrued interest were $10,485,464 and $10,643,914, respectively. b. Other long-term borrowings CSL Finance Pty Ltd. On May 12, 2014, ASLAN Pharmaceuticals Pte. Ltd. obtained a loan facility of $4.5 million from CSL Finance Pty Ltd. The amount was based on 75% of research and development costs approved by CSL Finance Pty Ltd. at each drawdown period. The loan is repayable within 10 years from the date of the facility agreement. Interest on the loan is computed at 6% plus LIBOR , payable on a quarterly basis and is recorded at interest payables under other payables. Mandatory prepayment of the loan is required upon a successful product launch occurring before maturity of the loan. As of December 31, 2019 and September 30, 2020, the aggregate carrying amount including principal and accrued interest outstanding under CSL Loan Facility were $4,453,327 and $4,710,232, respectively. Convertible Loan Facility On September 30, 2019, the Company entered into a loan facility with Bukwang Pharmaceutical Co., Ltd., for an amount of $1.0 million (the “September 2019 Loan Facility”). The September 2019 Loan Facility has a two-year The lender will have the right to convert, at their option, any outstanding principal amount plus accrued and unpaid interest under the loan into that number of the Company’s newly issued ADSs calculated by dividing (a) such outstanding principal amount and accrued and unpaid interest under the loan by (b) 90% of the volume-weighted average price of the Company’s ADSs on the date of the conversion notice. Each ADS represents five ordinary shares of the Company. The ability to convert is subject to certain conditions, including that the Company’s ordinary shares having been delisted from the TPEx, and the expiry of the term of the loan. In October 2019, the Company drew down on $1.0 million under the September 2019 Loan Facility. As of September 30, 2020, the lender has not exercised their right to convert their loan into ADS. October/November 2019 Loan Facility On October 25, 2019, the Company entered into a loan facility with certain existing stockholders/directors, or affiliates thereof, and on November 11, 2019 , two-year re-financing re-financing The October/November 2019 Loan Facility provides that, during the time that any amount is outstanding thereunder, the Company will not (i) incur any finance debt which is secured by a security interest or conferring repayment rights which rank in priority over those of the lenders, or (ii) carry out or implement any merger, consolidation, reorganization (other than the solvent reorganization of the Company), recapitalization, reincorporation, share dividend or other changes in the capital structure of the Company which may have a material adverse effect on the rights of the lenders, in each case except with the prior written consent of the lenders. In addition, upon an event of default (as defined in the October/November 2019 Loan Facility), the lenders may declare the principal amounts then outstanding and all interest thereon accrued and unpaid to be immediately due and payable to the lenders. In October 2019, the Company drew down on $1.95 million under the loan facilities. In connection with this initial draw down, the Company issued warrants (collectively referred to as the “Warrants”) to purchase 483,448 ADSs (representing 2,417,240 ordinary shares) to certain of the lenders, at an exercise price of $2.02 per ADS. In November 2019, the Company drew down on the remaining $0.3 million under the loan facilities. In connection with the second draw down, the Company has committed to issue warrants to purchase 74,377 ADSs (representing 371,885 ordinary shares) to the lender at an exercise price of $2.02 per ADS. The Warrants are exercisable only after the Company’s ordinary shares have been delisted from TPEx, and will expire on the earlier of (i) the first anniversary of such TPEx delisting or (ii) expiry of the term of the October/November 2019 Loan Facility. As of September 30, 2020, none of the warrant holders have exercised their rights to purchase any ADS. As of December 31, 2019 , |
Retirement Benefit Plans
Retirement Benefit Plans | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of defined benefit plans [abstract] | |
Retirement Benefit Plans | 15. RETIREMENT BENEFIT PLANS Defined Contribution Plans ASLAN Pharmaceuticals Pte. Ltd. adopted a defined contribution plan, which is a post-employment benefit plan, under which ASLAN Pharmaceuticals Pte. Ltd. pays fixed contributions into the Singapore Central Provident Fund on a mandatory basis. ASLAN Pharmaceuticals Pte. Ltd. has no further payment obligations once the contributions have been paid. The contributions are recognized as “employee compensation expenses” when they are due. ASLAN Pharmaceuticals Taiwan Limited adopted a pension plan under the Labor Pension Act (LPA) of the ROC, which is a state-managed defined contribution plan. Under the LPA, ASLAN Pharmaceuticals Taiwan Limited makes monthly contributions to its Taiwan-based employees’ individual pension accounts at 6% of monthly salaries and wages. For the nine months ended September 30, 2019 and 2020, the total expense for such employee benefits in the amount of $268,257 and $156,072 were recognized, respectively. |
Equity
Equity | 9 Months Ended |
Sep. 30, 2020 | |
Equity [abstract] | |
Equity | 16. EQUITY a. Ordinary shares December 31, 2019 September 30, 2020 Number of shares authorized 500,000,000 500,000,000 Amount of shares authorized NT$ 5,000,000,000 $ 165,000,000 Number of shares issued and fully paid 189,954,970 189,954,970 Amount of shares issued and fully paid $ 61,366,844 $ 61,366,844 As of December 31, 2019, the issued ordinary d On September 4, 2020, the shareholders’ meeting resolved to redenominate the authorized share capital of the Company from NT$5,000,000,000 divided into 500,000,000 ordinary shares of a nominal or par value of NT$10.00 to US$165,000,000 divided into 500,000,000 ordinary shares of a nominal or par value of US$0.33 each, by redenominating each ordinary share of a nominal or par value of NT$10.00 into each ordinary share of a nominal or par value of US$0.33 at an exchange rate of NT$1:US$0.03 The same shareholders’ meeting further resolved to reduce share capital, as a special resolution, conditional upon the receipt of an order of the Grand Court of the Cayman Islands approving the capital reduction from US$165,000,000 divided into 500,000,000 ordinary shares of a nominal or par value of US$0.33 each to US$5,000,000 divided into 500,000,000 ordinary shares of a nominal or par value of US$0.01 each, subject to the Tenth Amended and Restated Memorandum of Association the Company. The The issued ordinary shares with reduced par value of US$0.01 entitle holders with the rights to vote and receive dividends. On March 27, 2018, ASLAN Cayman filed a registration statement on Form F-1 The amount of ADSs sold in this offering was 6,000,000, with each ADS representing five of ASLAN Cayman’s ordinary shares, representing a total of On November 8, 2019, the Company filed a registration statement on Form F-3 follow-on follow-on The amount of ADSs sold in this offering was 5,893,206, with each ADS representing five of ASLAN Cayman’s ordinary shares, representing a total of 29,466,030 ordinary shares. The offering price per ADS was $2.50, equivalent to a price per ordinary share of NT$15.24. The payment of this fundraising was fully collected as of December 6, 2019, and the record date for this capital increase was December 6, 2019. On September 4, 2020, it was reported in the Company’s shareholders meeting that due to the delisting from TPEx, a comprehensive shares conversion plan for all the TPEx delisting ordinary shares to convert to ADSs had been reviewed and approved by the Company’s board of directors on July 17, 2020. On the first batch of conversion, a total of 98,756,475 ordinary shares were deposited and converted into the equivalent of 19,751,295 ADSs, with a total ADS issuance fee which the Company collected on shareholders’ behalf to be payable to J.P. Morgan Chase Bank N.A., as the Custodian and the Depositary, amounting to $918,150, as of September 30, 2020. The Company paid the full amount of ADS issuance fee to J.P. Morgan Chase Bank N.A. on October 26, 2020. On October 9, 2020, the Company filed a registration statement on Form F-3 b. Capital surplus December 31, September 30, Arising from issuance of new share capital $ 108,800,191 $ 108,800,191 Arising from employee share options 6,274,591 6,274,591 Changes in percentage of ownership interests in subsidiary 1,376,349 1,376,349 Equity component of long-term debt (Note 14) 44,579 44,579 $ 116,495,710 $ 116,495,710 c. Retained earnings and dividends policy Under ASLAN Cayman’s Articles of Incorporation, ASLAN Cayman may declare dividends by ordinary resolution of ASLAN Cayman’s board of directors, but no dividends shall exceed the amount recommended by the directors of ASLAN Cayman. ASLAN Cayman may set aside out of the funds legally available for distribution, for equalizing dividends or for any other purpose to which those funds may be properly applied, either employed in the business of ASLAN Cayman or invested in such investments as the directors of ASLAN Cayman may from time to time think fit. The accumulated deficits for 2018 and 2019 approved by the shareholders’ meetings on June 21, 2019 and June 29, 2020, respectively, were as follows: For the year ended December 31 2018 2019 Accumulated deficits at the beginning of the year $ (90,283,261 ) $ (132,468,858 ) Net loss for the year (42,185,597 ) (47,015,967 ) Accumulated deficits at the end of the year $ (132,468,858 ) $ (179,484,825 ) d. Other reserves items Unrealized loss on financial assets at fair value through other comprehensive income: For the nine months ended 2019 2020 Balance at January 1 $ — $ (55,084 ) Unrealized loss Equity instruments (9,046 ) (98,350 ) Balance at September 30 $ (9,046 ) $ (153,434 ) e. Non-controlling interests For the nine months ended 2019 2020 Balance at January 1 $ — $ 1,074,081 Share in loss for the period — (583,948 ) Balance at September 30 $ — $ 490,133 |
License Agreements
License Agreements | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of transactions between related parties [abstract] | |
License Agreements | 17. LICENSE AGREEMENTS Array Biopharma On January 3, 2018, the Company entered into a new license agreement with Array pursuant to which the Company obtained an exclusive, worldwide license to develop, manufacture and commercialize Array’s pan-HER ARRY-543 varlitinib varlitinib Under the new license agreement, the Company agreed to use commercially reasonable efforts to obtain approval by the U.S. FDA or the applicable health regulatory authority and commercialize varlitinib. In consideration of the rights granted under the agreement, the Company made an initial upfront payment to Array of $12 million in January 2018 and an additional payment $11 million in June 2018, respectively, that were capitalized as a separately acquired intangible asset. In addition, the Company will be required to pay up to $30 million if certain development milestones are achieved, $20 million if certain regulatory milestones are achieved, and up to $55 million if certain commercial milestones are achieved. The Company is also required to pay Array tiered royalties in the low tens on net sales of varlitinib. country-by-country varlitinib varlitinib On November 11, 2019, the Company announced that the global pivotal clinical trial testing varlitinib varlitinib varlitinib Almirall In 2012, the Company originally entered into a global licensing agreement with Almirall to develop DHODH inhibitor, LAS186323, which the Company refers to as ASLAN003, for rheumatoid arthritis (excluding any topical formulation), without upfront payments. Under the license agreement, the Company agreed to fund and develop ASLAN003 to the end of Phase 2 through a development program conducted in the Asia-Pacific region. The original license agreement was replaced by a new agreement, executed in December 2015 and amended in March 2018, granting an exclusive, worldwide license to develop, manufacture and commercialize ASLAN003 products for all human diseases with primary focus on oncology diseases, excluding topically-administered products embodying the compound for keratinocyte hyperproliferative disorders, and the non-melanoma CSL The Company entered into a global license agreement with CSL Limited (“CSL”), in May 2014, to develop the anti-IL13 receptor monoclonal antibody, CSL334 (which the Company refers to as ASLAN004) and antigen binding fragments thereof, for the treatment, diagnosis or prevention of diseases or conditions in humans, without upfront payments. This license agreement was amended in May 31, 2019, pursuant to which the Company obtained an exclusive, worldwide license to certain intellectual property owned or licensed by CSL, including patents and know-how, Under the amended agreement, the Company is generally obligated to use diligent efforts to develop ASLAN004 products in accordance with the development plan, to obtain marketing approvals for ASLAN004 products worldwide and to commercialize ASLAN004 products, either by itself or through sublicensees. In consideration of the rights granted to the Company under the amended agreement, the Company will make a first payment of $30 million to CSL upon commencement of a Phase 3 clinical trial of ASLAN004. The Company will also be required to pay up to an aggregate of $95 million to CSL if certain regulatory milestones are achieved and as of September 30, 2020, milestone has not been met, up to an aggregate of $655 million if certain sales milestones are achieved and tiered royalties on net sales of ASLAN004 products ranging between a mid-single Hyundai Pharm Co., Ltd. In October 2015, the Company entered into a license agreement with Hyundai Pharm Co., Ltd. (“Hyundai”). Under the terms of the license agreement, the Company granted Hyundai options to acquire the rights to use its intellectual property to develop and commercialize varlitinib out-licensing In February 2019, the Company made a payment of $325,000 to Hyundai in order to buy back the rights to commercialize varlitinib Exploit Technologies Pte Ltd. (“ETPL”)/P53 Laboratory The Company entered into a licensing agreement with ETPL, in August 2016, to license Intellectual Property (IP) arising from a research collaboration with ETPL’s P53 Laboratory. The IP focuses on generation of novel immuno-oncology antibodies targeting recepteur d’origine nantais (“RON”) and such antibodies are referred to by the Company collectively as ASLAN005. The license fee of SG$100,000 (or $73,400) was capitalized as a separately acquired intangible asset. Under the license agreement, the Company has the exclusive rights to develop and commercialize ASLAN005 worldwide. ETPL is eligible to receive up to an aggregate of SG$12 million (or $8,978,951) in milestone payments if certain development and commercial milestones are achieved, as well as royalties calculated based on any sales generated by the Company. In August 2016, the Company and ETPL’s P53 Laboratory entered into a three-year On July 5, 2019, the Company decided not to engage in further development of the licensed intellectual property for ASLAN005 from ETPL. The agreement relating to the research collaboration with ETPL’s P53 Laboratory was terminated effective September 3, 2019. As a result, the Company carried out a review of the recoverable amount of ASLAN005 and determined that the carrying amount $73,400 was fully impaired. See Note 12. Nanyang Technological University The Company entered into a licensing and research collaboration agreement with Nanyang Technological University (NTU) in October 2016, for the development of modybodies against three targets of the Company’s choice. The agreement expired in April 2018, but the Company retained continuing rights: a half share ownership in the resulting IP, together with an exclusive option to obtain global rights to develop and commercialize the modybodies, with such option exercisable until October 2018. In July 2018, the technology for modybodies was separated from NTU and licensed to a new company, DotBio Pte. Ltd. In exchange for the Company’s giving up its residual rights and options in respect to the technology, the Company received 599,445 shares of DotBio Pte. Ltd. equivalent to SG$255,000 ($187,244) (see Note 8), together with 599,445 units of warrant to subscribe for the same number of shares at a subscription price of $0.32 which was the same value per share as applied to other new investors in this round (see Note 7); in addition, the Company also retained a right of first refusal to take an exclusive license for any modybodies produced by DotBio Pte. Ltd. that are based on the work generated from the collaborative agreement between NTU and the Company. However, as the right of first refusal did not limit DotBio Pte. Ltd.’s ability to direct the use of the asset, or to obtain substantially all the remaining benefits from the asset, this would not prevent DotBio Pte. Ltd. from obtaining control of the asset. Accordingly, the Company recognized the non-cash BioGenetics Co. Ltd. In February 2019, the Company entered into a licensing agreement with BioGenetics to grant exclusive rights to commercialize varlitinib mid-twenties. varlitinib In March 2019, the Company entered into another licensing agreement with BioGenetics to grant exclusive rights to commercialize ASLAN003 in South Korea in exchange for an upfront payment of $1 million and up to $8 million in sales and development milestone payments. The Company is also eligible to receive tiered double digit royalties on net sales from the high-teens to the mid-twenties in-license out-licensing |
Loss Before Income Tax
Loss Before Income Tax | 9 Months Ended |
Sep. 30, 2020 | |
Profit (loss) [abstract] | |
Loss Before Income Tax | 18. LOSS BEFORE INCOME TAX a. Other gains and losses For the nine months ended 2019 2020 Net foreign exchange gains $ 128,820 $ 126,787 (Loss) Gain on disposal of property, plant and equipment (75,296 ) 359 Net (loss)gain on fair value changes of financial assets and liabilities at fair value through profit or loss (21,998 ) 236,169 Loss on lease modification (64,287 ) — Subsidy from the government — 110,233 Others (5,529 ) 30,946 $ (38,290 ) $ 504,494 Subsidy from the government is a relief from the Singapore government to provide wage support and help employers retain local employees due to economic uncertainty due to COVID-19. b. Finance costs For the nine months ended 2019 2020 Other interest expenses $ 256,905 $ 416,232 Interest on government loans 327,223 321,655 Interest on loans from shareholders — 153,519 Interest on lease liabilities 24,374 30,108 $ 608,502 $ 921,514 c. Depreciation and amortization For the nine months ended 2019 2020 Right-of-use $ 201,411 $ 199,115 Property, plant and equipment 155,663 23,446 Computer software 3,369 2,443 $ 360,443 $ 225,004 All depreciation and amortization expenses are recorded as general and administrative expenses for the nine months ended September 30, 2019 and 2020. d. Employee benefits expense For the nine months ended 2019 2020 Short-term benefits $ 3,389,244 $ 2,820,552 Post-employment benefits (Note 15) 268,257 156,072 Share-based payments (Note 21) Equity-settled 42,511 — Cash-settled (255,062 ) 198,720 Total employee benefits expense $ 3,444,950 $ 3,175,344 Employee benefits expense by function General and administrative expenses $ 2,306,923 $ 2,696,325 Research and development expenses 1,138,027 479,019 $ 3,444,950 $ 3,175,344 e. Employees’ compensation and remuneration of directors Under ASLAN Cayman the Eighth Articles of Incorporation, ASLAN Cayman had to accrue employees’ compensation and remuneration of directors at the rates of no less than 0.1% and no higher than 1%, respectively, of profit before income tax, net of employees’ compensation and remuneration of directors. ASLAN Cayman had accumulated deficits for the nine months ended September 30, 2019; therefore, no compensation for employees and remuneration of directors was accrued. On September 4, 2020, the shareholders’ meeting of the Company resolved replacing the Eighth Amended and Restated Memorandum and Articles of Association with the Ninth and the Tenth Amended and Restated Memorandum and Articles of Association; therefore, no compensation for employees and remuneration of directors was accrued for the nine months ended September 30, 2020. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2020 | |
Income Tax [Abstract] | |
Income Taxes | 19. INCOME TAXES Income Tax Recognized in Profit or Loss For the nine months ended 2019 2020 Current tax In respect of the current period $ (395,290 ) $ 165,699 a. Cayman Islands ASLAN Cayman is incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gains. Additionally, the Cayman Islands does not impose a withholding tax on payments of dividends to shareholders. b. Singapore ASLAN Pharmaceuticals Pte. Ltd. and Jaguahr Therapeutics Pte. Ltd., incorporated in Singapore, are subject to the statutory corporate income tax rate of 17%. In connection with the licensing agreements with BioGenetics in February and March 2019, the Company collected upfront payments totaled $3,000,000 from BioGenetics in total, which was subject to withholding taxes of 15% in compliance with local regulations in South Korea. The Company therefore recognized income tax expense at an amount of $450,000. Except for the above, ASLAN Pharmaceuticals Pte. Ltd. and Jaguahr Therapeutics Pte. Ltd. have no taxable income for the nine months ended September 30, 2019 and 2020, and therefore, no other provision for income tax is required. c. Taiwan ASLAN Pharmaceuticals Taiwan Limited, incorporated in Taiwan, is subject to the statutory corporate income tax rate of 20% and the corporate surtax rate of 5%. The income tax returns through 2018 have been assessed by the tax authorities. d. Australia ASLAN Pharmaceuticals Australia Pty Ltd., incorporated in Australia, is subject to the statutory corporate income tax of 30%. ASLAN Pharmaceuticals Australia Pty Ltd. has no taxable income for the nine months ended September 30, 2019 and 2020, and therefore, no provision for income tax is required. Tax incentives were obtained from the Australian government on August 23, 2019 and August 13, 2020 for $79,710 and $165,699, respectively, due to research and development activities carried out in Australia in e. Hong Kong ASLAN Pharmaceuticals Hong Kong Limited, incorporated in Hong Kong, is subject to the statutory corporate income tax of 16.5%. Under the Hong Kong tax law, ASLAN Pharmaceuticals Hong Kong Limited is exempted from income tax on its foreign derived income and there are no withholding taxes in Hong Kong on the remittance of dividends. ASLAN Pharmaceuticals Hong Kong Limited has no taxable income for the nine months ended September 30, 2019 and 2020, and therefore, no provision for income tax is required. f. China ASLAN Pharmaceuticals (Shanghai) Co. Ltd., incorporated in China, is subject to the statutory corporate income tax rate of 25%. ASLAN Pharmaceuticals (Shanghai) Co. Ltd. has no taxable income for the nine months ended September 30, 2019 and 2020, and therefore, no provision for income tax is required. g. United States of America ASLAN Pharmaceuticals (USA) Inc., incorporated in Delaware, USA in October 2018, is subject to the statutory federal income tax rate of 21% and state income tax rate of 8.7%. ASLAN Pharmaceuticals (USA) Inc. has no taxable income for the nine months ended September 30, 2019 and 2020, and therefore, no provision for income tax is required. |
Loss Per Ordinary Share
Loss Per Ordinary Share | 9 Months Ended |
Sep. 30, 2020 | |
Earnings per share [abstract] | |
Loss Per Ordinary Share | 20. LOSS PER ORDINARY For the nine months ended 2019 2020 Basic and diluted loss per ordinary share $ (0.11 ) $ (0.05 ) The loss and weighted-average number of ordinary shares outstanding used in the computation of loss per share are as follows: For the nine months ended 2019 2020 Loss used in the computation of basic and diluted loss per ordinary share $ (17,460,159 ) $ (10,267,070 ) Weighted-average number of ordinary shares in the computation of basic loss per ordinary share 160,248,940 189,954,970 If the outstanding employee share options issued by ASLAN Cayman are converted to ordinary shares, they are anti-dilutive and excluded from the computation of diluted earnings per share. Potential ordinary shares arising from the aforementioned anti-dilutive outstanding employee share options are 11,004,802 and 8,051,149 shares for the nine months ended September 30, 2019 and 2020, respectively. |
Share-Based Payment Arrangement
Share-Based Payment Arrangements | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Share-Based Payment Arrangements | 21. SHARE-BASED PAYMENT ARRANGEMENTS Employee Share Option Plan Under the Company’s employee share option plan, qualified employees of the Company and its subsidiaries were granted 661,000 options in July 2010, 910,000 options in July 2011, 669,750 options in July 2012, 619,250 options in July 2013, 680,625 options in July 2014, 2,477,336 options in July 2015, 1,032,250 options in July 2016 and 825,833 options in September 2017. Each option entitles the holder to subscribe for one ordinary share of the Company. The options granted are valid for 10 years and exercisable at certain percentages once they have vested. No performance conditions were attached to the plan. The Company has no legal constructive obligation to repurchase or settle the options in cash. The board of directors of the Company, as of July 26, 2016, resolved to double the number of shares underlying each outstanding award granted previously to reflect the subdivision ratio of the share split made in connection with the corporate restructuring of May 27, 2016. The exercise price for each award previously granted was correspondingly adjusted by a decrease of 50%. The modification did not cause any incremental adjustments to the fair value of the granted awards. As of September 30, 2020, there are 13,841,879 ordinary shares issuable on the exercise of share options outstanding under the Company’s equity incentive plans. Currently each ADS represents five of the Company’s ordinary shares measured under employee share option plan. Information on employee share options granted from July 2010 to 2016 is as follows: For the nine months ended September 30 2019 2020 Number of Weighted- average Per Option Number of Weighted- average Per Option Balance at January 1 6,822,523 $ 1.41 6,670,356 $ 1.43 Options forfeited (32,167 ) 2.26 — — Balance at September 30 6,790,356 1.41 6,670,356 1.43 Options exercisable, end of period 6,790,356 1.41 6,670,356 1.43 Weighted-average fair value of options granted $ — $ — Information on employee share options granted in September 2017 is as follows: For the nine months ended September 30 2019 2020 Number of Weighted- average Per Option Number of Weighted- average Per Option Balance at January 1 698,167 $ 1.28 501,167 $ 1.28 Options forfeited (197,000 ) 1.28 — — Balance at September 30 501,167 1.28 501,167 1.28 Options exercisable, end of period — — 501,167 1.28 Weighted-average fair value of options granted $ — $ — Information on outstanding options as of September 30, 2020 is as follows: July 2010 July 2011 July 2012 July 2013 July 2014 July 2015 July 2016 September 2017 Range of Weighted- Range of Weighted- Range Weighted- Range of Weighted- Range Weighted- Range of Weighted- Range Weighted- Range Weighted- $0.20-$0.80 0 $0.20-$0.80 0.7 $0.80 1.7 $0.80-$1.36 2.7 $1.36 3.7 $1.36-$1.88 4.7 $2.26 5.7 $1.28 6.9 Options granted in July of 2010, 2011, 2012, 2013, 2014, 2015, 2016 and September 2017 were priced using the binomial option pricing model, and the inputs to the model were as follows: July 2010 July 2011 July 2012 July 2013 July 2014 July 2015 July 2016 September 2017 Grant-date share price $0.80 $0.80 $1.25 $1.36 $1.36 $1.88 $2.26 $1.28 Exercise price $0.20-$0.80 $0.20-$0.80 $0.80 $0.80-$1.36 $1.36 $1.36-$1.88 $2.26 $1.28 Expected volatility 59.16% 54.26%-54.44% 52.25% 50.58% 50.86% 36.37% 39.34% 38.33% Expected life (years) 10 10 10 10 10 10 10 10 Expected dividend yield — — — — — — — — Risk-free interest rate 2.954% 2.96%-3.22% 1.61% 2.5% 2.58% 2.43% 1.46% 1.10% Expected volatility was based on the average annualized historical share price volatility of comparable companies before the grant date. Compensation costs recognized for the nine months ended September 30, 2019 and 2020 were $42,511 and zero, respectively. Long Term Incentive Plan On August 23, 2017, July 30, 2018 and July 26, 2019, the Company’s board of directors approved the 2017, 2018 and 2019 Senior Management Team (SMT) Long Term Incentive Plans (the As of September 30, 2020, there are 1,566,000 bonus entitlement units which have been granted under the 2017 LTIP by the Company. For the 1,462,000 units under the 2017 LTIP which were granted in 2017, they will vest in thirds each year after the first, second, and third anniversary of the award, and for the 104,000 units under the 2017 LTIP which were granted in 2018, they will vest in halves each year after the second and third anniversary of the award. The value of the 2017 LTIP, which was originally measured based on the quoted share price was changed retrospectively at a 5:1 conversion ratio of the Taiwan share price to the ADS price due to the modification of the 2017 LTIP approved by the board of directors on July 30, 2018. As this will be a modification of a cash-settled award that remains a cash-settled award after the modification, any increase or decrease in the value of the liability will be recognized immediately in profit or loss. The Company’s 2017 LTIP is described as follows: For the nine months Ended September 30 2019 2020 Balance at January 1 1,479,334 1,160,001 Awards forfeited (319,333 ) (253,000 ) Balance at September 30 1,160,001 907,001 Balance exercisable, end of period 815,000 1,354,333 As of September 30, 2020, there are 241,142 bonus entitlement units which have been granted under the 2018 LTIP by the Company. For the 241,142 units under the 2018 LTIP, they will vest in thirds each year after the first, second, and third anniversary of the award. The value of the 2018 LTIP will be linked to the ADS price. All of the 2018 LTIP granted bonus entitlement units remained outstanding as of September 30, 2020. The Company’s 2018 LTIP is described as follows: For the nine months Ended September 30 2019 2020 Balance at January 1 241,142 168,089 Awards forfeited (73,053 ) (38,466 ) Balance at September 30 168,089 129,623 Balance exercisable, end of period 56,030 136,410 As of September 30, 2020, there are 491,020 bonus entitlement units which have been granted under the 2019 LTIP by the Company. For the 491,020 units under the 2019 LTIP, they will vest in thirds each year after the first, second, and third anniversary of the award. The value of the 2019 LTIP will be linked to the ADS price. All of the 2019 LTIP granted bonus entitlement units remained outstanding as of September 30, 2020. The Company’s 2019 LTIP is described as follows: For the nine months Ended September 30 2019 2020 Balance at January 1 — 491,020 Awards granted 491,020 — Awards forfeited — (104,070 ) Balance at September 30 491,020 386,950 Balance exercisable, end of period — 163,673 Each bonus entitlement unit grants the holders of the LTIPs a conditional right to receive an amount of cash equal to the per-unit Regarding the Company’s 2017, 2018 and 2019 LTIPs, the respective quoted fair value of the awards on the grant date was NT$33.45 (or $1.10) , $7.90 and $2.92, based on the Taiwan share price on August 23, 2017 , the closing price per ADS on July 30, 2018 and the closing price per ADS on July 30, 2019, respectively. The quoted fair value on the reporting date is based on the closing price per ADS of $2.03 and $1.90 as of December 31, 2019 and September 30, 2020, respectively. The Company recognized total expenses of $(255,062) and $198,720 in respect of the LTIPs for the nine months ended September 30, 2019 and 2020, respectively. As of December 31, 2019 and September 30, 2020, the Company recognized compensation liabilities of $755,787 and $1,074,741 as current (classified as other payables), respectively, and $184,870 and $95,926 as non-current, |
Capital Management
Capital Management | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure Of Capital Management [Abstract] | |
Capital Management | 22. CAPITAL MANAGEMENT The Company manages its capital to ensure that entities in the Company will be able to safeguard cash as well as maintain financial liquidity and flexibility to support the development of its product candidates and programs as a going concern through the optimization of the debt and equity balance. The Company’s financial strategy is designed to maintain a flexible capital structure consistent with the objectives stated above and to respond to business growth opportunities and changes in economic conditions. The capital structure of the Company mainly consists of borrowings and equity of the Company. Key management personnel of the Company review the capital structure periodically. In order to maintain or balance the overall capital structure, the Company may adjust the amounts of long-term borrowings, or the issuance of new shares capital or other equity instruments. As of September 30, 2020, there was no changes in the Company’s capital management policy, and the Company is not subject to any externally imposed capital requirements. |
Financial Instruments
Financial Instruments | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of detailed information about financial instruments [abstract] | |
Financial Instruments | 23. FINANCIAL INSTRUMENTS a. Fair value of financial instruments not measured at fair value The Company believes that the carrying amounts of financial assets and financial liabilities not measured at fair value approximate their fair values. b. Fair value of financial instruments measured at fair value on a recurring basis 1) Fair value hierarchy December 31, 2019 Level 1 Level 2 Level 3 Total Financial assets at fair value through profit or loss Derivative financial assets $ — $ — $ 68,256 $ 68,256 Financial assets at fair value through other comprehensive income Investments in equity instruments at fair value through other comprehensive income Unlisted shares $ — $ — $ 132,160 $ 132,160 Financial liabilities at fair value through profit or loss Derivative financial liabilities $ — $ — $ 262,350 $ 262,350 September 30, 2020 Level 1 Level 2 Level 3 Total Financial assets at fair value through profit or loss Derivative financial assets $ — $ — $ 157,675 $ 157,675 Financial assets at fair value through other comprehensive income Investments in equity instruments at fair value through other comprehensive income Unlisted shares $ — $ — $ 33,810 $ 33,810 Financial liabilities at fair value through profit or loss Derivative financial liabilities $ — $ — $ 115,600 $ 115,600 There were no transfers between Levels 1 and 2 in the current and prior periods. 2) Valuation techniques and inputs applied for Level 3 fair value measurement a) The fair values of warrants are determined using option pricing models where the significant unobservable input is historical volatility. An increase in the historical volatility used in isolation would result in an increase in the fair value. At December 31, 2019 and September 30, 2020, respectively, the historical volatility used were 41.87% and 84.63%. b) The fair values of non-listed Price-to-Book c) The fair value of derivative financial instrument with warrants and convertibility right are determined using binomial evaluation method with discount rate 15% assessing by market bond yield curve and risk-free rate premium. As of September 30, 2020, the historical volatility used was 82.9% during the past 1 year. c. Categories of financial instruments December 31, September 30, Financial assets Financial assets at fair value through profit or loss Derivative financial assets $ 68,256 $ 157,675 Financial assets at amortized cost (1) 22,311,107 12,168,826 Financial assets at fair value through other comprehensive income Equity instruments 132,160 33,810 Financial liabilities Financial liabilities at fair value through profit or loss Derivative financial liabilities 262,350 115,600 Financial liabilities at amortized cost (2) 21,963,089 22,922,123 1) The balances include financial assets at amortized cost, which comprise of cash and cash equivalents and refundable deposits. 2) The balances include financial liabilities at amortized cost, which comprise of trade payables, partial other payables, other current liabilities and long-term borrowings. d. Financial risk management objectives and policies The Company’s financial risk management objective is to monitor and manage the financial risks relating to the operations of the Company. These risks include market risk (including foreign currency risk and interest rate risk), credit risk and liquidity risk. In order to minimize the effect of financial risks, the Company devoted time and resources to identify and evaluate the uncertainty of the market to mitigate risk exposures. 1) Market risk The Company’s activities exposed it primarily to the financial risks of changes in foreign currency exchange rates (see (a) below) and interest rates (see (b) below). a) Foreign currency risk The Company had foreign currency transactions, which exposed the Company to foreign currency risk. The Company’s significant financial assets and liabilities denominated in foreign currencies were as follows: December 31, 2019 Foreign Exchange Rate Carrying Financial assets Monetary items SGD S$ 2,538,168 0.7431 $ 1,886,160 GBP £ 999,471 1.3187 1,318,000 Financial liabilities Monetary items SGD S$ 15,126,578 0.7431 $ 11,240,843 September 30, 2020 Foreign Exchange Rate Carrying Financial assets Monetary items SGD S$ 1,072,863 0.7314 $ 784,658 GBP £ 346,137 1.2872 445,536 Financial liabilities Monetary items SGD S$ 15,707,031 0.7314 $ 11,487,626 GBP £ 233,944 1.2872 301,125 Sensitivity analysis The Company is mainly exposed to the Singapore Dollar and British Pound. The following table details the Company’s sensitivity to a 5% increase and decrease in the U.S. dollar against the relevant foreign currency. The rate of 5% is the sensitivity rate used when reporting foreign currency risk internally to key management personnel and represents management’s assessment of the reasonably possible change in foreign exchange rates. The sensitivity analysis includes only outstanding foreign currency denominated monetary items. A positive number below indicates a decrease in pre-tax pre-tax For the nine months ended September 30 2019 2020 Profit or loss* SGD $ (502,732 ) $ (535,148 ) GBP — 7,221 * This is mainly attributable to the exposure to outstanding deposits in banks and loans in foreign currency at the end of the reporting period. b) Interest rate risk The Company is exposed to interest rate risk because entities in the Company borrowed funds at fixed interest rates. The sensitivity analysis below is determined based on the Company’s exposure to interest rates for fixed rate borrowings at the end of the reporting period, and is prepared assuming that the amounts of liabilities outstanding at the end of the reporting period are outstanding for the whole year. A 100-basis If interest rates had been 100 basis points higher/lower and all other variables were held constant, the Company’s pre-tax 2) Credit risk Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in a financial loss to the Company. The Company adopted a policy of only dealing with creditworthy counterparties and financial institutions, where appropriate, as a means of mitigating the risk of financial loss from defaults. 3) Liquidity risk The Company manages liquidity risk by monitoring and maintaining a level of cash and cash equivalents that are deemed adequate to finance the Company’s operations and mitigate the effects of fluctuations in cash flows. In addition, management monitors the utilization of long-term borrowings and ensures compliance with repayment conditions. As the Company is in the research and development phase, the Company will be seeking future funding based on the requirements of its business operations. The Company is able to exercise discretion and flexibility to deploy its capital resources in the process of the research and development activities according to the schedule of fund raising. The Company intends to explore various means of fundraising to meet its funding requirements to carry out the business operations, such as the issuance of its ordinary shares sponsoring ADSs, venture debt and shareholder loans. The Company may also use other means of financing such as out licensing to generate revenue and cash. Management believes that it currently has plans and opportunities in place which will allow to fund and meet its operating expenses and capital expenditure requirements and meet its obligations for at least the next twelve months from September 30, 2020. However, the future viability of the Company depends on its ability to raise additional capital to finance its operations. |
Transactions with Related Parti
Transactions with Related Parties | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of transactions between related parties [abstract] | |
Transactions with Related Parties | 24. TRANSACTIONS WITH RELATED PARTIES Balances and transactions between the companies which are related parties of the Company, have been eliminated on consolidation and are not disclosed in this note. Besides information disclosed elsewhere in the other notes, details of transactions between the Company and other related parties are disclosed as follows. a. Related party name and category Related Party Name Related Party Category JANK Howden Pty Ltd Related party in substance Others Key Management Personnel b. Loans from related parties Related Party Category/Name December 31, September 30, 2020 Related party in substance / JANK Howden Pty Ltd $ 502,205 $ 501,401 Key Management Personnel / Others 50,221 50,140 $ 552,426 $ 551,541 Interest Payable Related Party Category/Name December 31, September 30, 2020 Related party in substance / JANK Howden Pty Ltd $ 12,500 $ 47,419 Key Management Personnel / Others 1,250 4,742 $ 13,750 $ 52,161 Interest expense For the nine months Ended September 30 Related Party Category/Name 2019 2020 Related party in substance / JANK Howden Pty Ltd $ — $ 34,115 Key Management Personnel / Others — 3,412 $ — $ 37,527 The loans from the related parties are unsecured. c. Compensation of Key Management Personnel For the nine months Ended September 30 Related Party Category/Name 2019 2020 Short-term employee benefits $ 2,081,781 $ 1,356,957 Post-employment benefits 111,131 65,960 Share-based payments recognized 1,578,128 198,720 $ 3,771,040 $ 1,621,637 The remuneration of directors and key executives was determined by the remuneration committee based on the performance of individuals and market trends. |
Other Items
Other Items | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of classes of share capital [abstract] | |
Other Items | 25. OTHER ITEMS The Company paused recruitment of new patients on April 13, 2020 in line with government restrictions enforced in Singapore to contain the spread of the coronavirus disease (COVID-19). COVID-19 |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of operating segments [abstract] | |
Segment Information | 26. SEGMENT INFORMATION The Company’s chief operating decision maker, the chief executive officer, reviews the Company’s consolidated results when making decisions about the allocation of resources and when assessing performance of the Company as a whole, and therefore, the Company has only one reportable segment. The Company does not distinguish between markets or segments for the purpose of internal reporting. The basis of information reported to the chief operating decision maker is the same as the Company’s consolidated financial statements. As the Company’s long-lived assets are substantially located in and derived from Asia, no geographical segments are presented. The following is an analysis of the Company’s revenue from its major products and services. For the nine months ended September 30 2019 2020 Out-licensing $ 3,000,000 $ — For the nine months ended September 30, 2019, there was revenue generated from out-licensing |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of significant accounting policies [abstract] | |
Statement of compliance | a. Statement of compliance The condensed consolidated financial statements have been prepared in accordance with IAS 34 “Interim Financial Reporting”. The condensed consolidated financial statements are not subject to qualification relating to the application of IFRSs as issued by IASB. |
Basis of preparation | b. Basis of preparation The condensed consolidated financial statements have been prepared on the historical cost basis except for financial instruments and other payable arising from cash-settled share-based payment arrangements which are measured at fair value. |
Basis of consolidation | c. Basis of consolidation The condensed consolidated financial statements include the financial statements of the ASLAN Cayman and its subsidiaries. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the Company. All intragroup transactions, balances, income and expenses are eliminated in full upon consolidation. |
Other significant accounting policies | d. Other significant accounting policies Refer to the summary of significant accounting policies for the consolidated financial statements for the year ended December 31, 2019, unless otherwise stated below. Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. Interim period income taxes are assessed on an annual basis and calculated by applying to an interim period’s pre-tax |
General Information (Tables)
General Information (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Income Tax [Abstract] | |
Summary of Detailed Information about Businesses and Intragroup Relationships of Group | The main businesses and intragroup relationships of the Company were as follows as of September 30, 2020: Name Place of Incorporation Date of Incorporation Main Business ASLAN Pharmaceuticals Limited Cayman Islands June 2014 Investment holding ASLAN Pharmaceuticals Pte. Ltd. Singapore April 2010 New drug research and development ASLAN Pharmaceuticals Taiwan Limited Taiwan November 2013 New drug research and development ASLAN Pharmaceuticals Australia Pty Ltd. Australia July 2014 New drug research and development ASLAN Pharmaceuticals Hong Kong Limited Hong Kong July 2015 New drug research and development ASLAN Pharmaceuticals (Shanghai) Co. Ltd. China May 2016 New drug research and development ASLAN Pharmaceuticals (USA) Inc. United States of America October 2018 New drug research and development Jaguahr Therapeutics Pte. Ltd. Singapore August 2019 New drug research and development |
Application of New Amended an_2
Application of New Amended and Revised Standards and Interpretations (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of initial application of standards or interpretations [abstract] | |
Schedule of Diffrence Between Lease Liablilites Recognized And Operating Lease Commitments Disclosed | New IFRSs Effective Date Announced by IASB (Note 1) “Annual Improvements to IFRS Standards 2018–2020” January 1, 2022 (Note 2) Amendments to IFRS 3 “Reference to the Conceptual Framework” January 1, 2022 (Note 3) Amendments to IFRS 4 “Extension of the Temporary Exemption from Applying IFRS 9” Effective immediately upon promulgation by the IASB Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 “Interest Rate Benchmark Reform - Phase 2” January 1, 2021 Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets between An Investor and Its Associate or Joint Venture” To be determined by IASB IFRS 17 “Insurance Contracts” January 1, 2023 Amendments to IFRS 17 January 1, 2023 Amendments to IAS 1 “Classification of Liabilities as Current or Non-current” January 1, 2023 Amendments to IAS 16 “Property, Plant and Equipment - Proceeds before Intended Use” January 1, 2022 (Note 4) Amendments to IAS 37 “Onerous Contracts–Cost of Fulfilling a Contract” January 1, 2022 (Note 5) Note 1: Unless stated otherwise, the above New IFRSs are effective for annual reporting periods beginning on Note 2: The amendments to IFRS 9 are applied prospectively to modifications and exchanges of financial liabilities that occur on or after the annual reporting periods beginning on or after January 1, 2022. The amendments to IAS 41 “Agriculture” are applied prospectively to the fair value measurements on or after the annual reporting periods beginning on or after January 1, 2022. The amendments to IFRS 1 “First-time Adoptions of IFRSs” are applied retrospectively for annual reporting periods beginning on or after January 1, 2022. Note 3: The amendments are applicable to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after January 1, 2022. Note 4: The amendments are applicable to property, plant and equipment that are brought to the location and condition necessary for them to be capable of operating in the manner intended by management on or after January 1, 2021. Note 5: The amendments are applicable to contracts for which the entity has not yet fulfilled all its obligations on January 1, 2022. |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Cash and cash equivalents [abstract] | |
Summary of Cash and Cash Equivalents | December 31, September 30, 2020 Cash on hand $ 1,723 $ 1,723 Deposits in banks 22,201,308 12,058,562 $ 22,203,031 $ 12,060,285 |
Financial Instruments at Fair_2
Financial Instruments at Fair Value Through Profit or Loss (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Financial assets at fair value through profit or loss [abstract] | |
Summary of Financial Instruments at Fair Value Through Profit or Loss | December 31, September 30, Financial assets at fair value through profit or loss (FVTPL) - Non-current Financial assets mandatorily classified as at FVTPL Derivative financial assets - warrants (a) $ 13,019 $ 287 Derivative financial assets - pre-redemption 55,237 157,388 $ 68,256 $ 157,675 Financial liabilities at fair value through profit or loss (FVTPL) - Non-current Financial liabilities at FVTPL Derivative financial liabilities - conversion right (c) $ 262,350 $ 115,600 |
Financial Assets At Fair Valu_2
Financial Assets At Fair Value Through Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Financial assets at fair value through other comprehensive income [abstract] | |
Summary of Financial Assets at Fair Value Through Other Comprehensive Income | December 31, 2019 September 30, 2020 Non-current Investments in equity instruments at fair value through other comprehensive income (FVTOCI) Foreign unlisted ordinary shares $ 132,160 $ 33,810 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Summary of Carrying Amount of Each Class of Property Plant and Equipment | The carrying amounts of each class of property, plant and equipment were as follows: December 31, September 30, Office equipment $ 31,105 $ 17,997 Other equipment 1,938 57 Leasehold improvements 5,290 1,889 $ 38,333 $ 19,943 |
Summary of Cost and Accumulated Depreciation of Property Plant and Equipment | For the nine months ended September 30, 2019 Office Other Leasehold Total Cost Balance at January 1, 2019 $ 276,935 $ 36,180 $ 488,106 $ 801,221 Additions 2,993 — — 2,993 Disposals (65,292 ) (889 ) (219,733 ) (285,914 ) Balance at September 30, 2019 $ 214,636 $ 35,291 $ 268,373 $ 518,300 Accumulated depreciation Balance at January 1, 2019 $ 178,115 $ 25,128 $ 309,560 $ 512,803 Depreciation expenses 44,591 7,357 103,715 155,663 Disposals (47,397 ) (518 ) (158,403 ) (206,318 ) Balance at September 30, 2019 $ 175,309 $ 31,967 $ 254,872 $ 462,148 Carrying amounts at January 1, 2019 $ 98,820 $ 11,052 $ 178,546 $ 288,418 Carrying amounts at September 30, 2019 $ 39,327 $ 3,324 $ 13,501 $ 56,152 For the nine months ended September 30, 2020 Office Other Leasehold Total Cost Balance at January 1, 2020 $ 211,315 $ 35,291 $ 268,373 $ 514,979 Additions 5,056 — — 5,056 Disposals (2,806 ) — — (2,806 ) Balance at September 30, 2020 $ 213,565 $ 35,291 $ 268,373 $ 517,229 Accumulated depreciation Balance at January 1, 2020 $ 180,210 $ 33,353 $ 263,083 $ 476,646 Depreciation expenses 18,164 1,881 3,401 23,446 Disposals (2,806 ) — — (2,806 ) Balance at September 30, 2020 $ 195,568 $ 35,234 $ 266,484 $ 497,286 Carrying amounts at January 1, 2020 $ 31,105 $ 1,938 $ 5,290 $ 38,333 Carrying amounts at September 30, 2020 $ 17,997 $ 57 $ 1,889 $ 19,943 |
Lease Arrangements (Tables)
Lease Arrangements (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of quantitative information about right-of-use assets [abstract] | |
Right-of-use assets | a. Right-of-use December 31, September 30, Carrying amounts Buildings $ 727,866 $ 528,751 For the nine months ended September 30 2019 2020 Additions to right-of-use $ 882,670 $ — Depreciation charge for right-of-use Buildings $ 201,411 $ 199,115 |
Lease liabilities | b. Lease liabilities December 31, September 30, Carrying amounts Current $ 264,543 $ 327,040 Non-current 490,835 281,149 $ 755,378 $ 608,189 Discount rate for lease liabilities was as follows: December 31, September 30, Buildings 6 % 6 % |
Other lease information | d. Other lease information For the nine months ended September 30 2019 2020 Expenses relating to short-term leases $ 216,201 $ 105,370 Expenses relating to low-value $ 6,198 $ 2,572 Total cash outflow for leases $ 425,821 $ 262,121 |
Summary of lease commitments | All lease commitments with lease terms commencing after the balance sheet dates are as foll o December 31, 2019 September 30, 2020 Lease commitments $ 67,935 $ 2,867 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of detailed information about intangible assets [abstract] | |
Summary of Carrying Amounts of Each Class of Intangible Assets | The carrying amounts of each clas s December 31, September 30, Licenses $ — $ — Computer software 2,845 402 $ 2,845 $ 402 For the nine months ended September 30, 2019 Licenses Computer Total Cost Balance at January 1, 2019 and September 30, 2019 $ 23,073,400 $ 43,070 $ 23,116,470 Accumulated amortization Balance at January 1, 2019 $ — $ 35,878 $ 35,878 Amortization expenses — 3,369 3,369 Balance at September 30, 2019 $ — $ 39,247 $ 39,247 Carrying amounts at January 1, 2019 $ 23,073,400 $ 7,192 $ 23,080,592 Carrying amounts at September 30, 2019 $ 23,073,400 $ 3,823 $ 23,077,223 For the nine months ended September 30, 2020 Licenses Computer Total Cost Balance at January 1, 2020 and September 30, 2020 $ 23,073,400 $ 43,070 $ 23,116,470 Accumulated amortization and impairment Balance at January 1, 2020 $ 23,073,400 $ 40,225 $ 23,113,625 Amortization expenses — 2,443 2,443 Balance at September 30, 2020 $ 23,073,400 $ 42,668 $ 23,116,068 Carrying amounts at January 1, 2020 $ — $ 2,845 $ 2,845 Carrying amounts at September 30, 2020 $ — $ 402 $ 402 |
Other Payables (Tables)
Other Payables (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Trade and other payables [abstract] | |
Schedule of Other Payables | December 31, September 30, Payables for cash-settled share-based payment transactions (Note 21) $ 755,787 $ 1,074,741 Payables for salaries and bonuses 1,037,213 692,961 Interest payables 392,970 649,875 Payables for professional fees 923,726 244,994 Others 137,146 83,282 $ 3,246,842 $ 2,745,853 |
Long Term Borrowings (Tables)
Long Term Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Borrowings [abstract] | |
Summary of Loans | December 31, September 30, Unsecured borrowings Loans from government $ 7,361,124 $ 7,245,041 Other long-term borrowings 4,813,176 4,894,331 Interest payables 3,183,507 3,654,938 Loans from shareholders 1,707,498 1,704,766 $ 17,065,305 $ 17,499,076 Unsecured borrowings from related parties Loans from related parties $ 552,426 $ 551,541 Interest payables 13,750 52,161 $ 566,176 $ 603,702 |
Equity (Tables)
Equity (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Equity [abstract] | |
Schedule of Ordinary Shares | a. Ordinary shares December 31, 2019 September 30, 2020 Number of shares authorized 500,000,000 500,000,000 Amount of shares authorized NT$ 5,000,000,000 $ 165,000,000 Number of shares issued and fully paid 189,954,970 189,954,970 Amount of shares issued and fully paid $ 61,366,844 $ 61,366,844 |
Schedule of Capital Surplus | b. Capital surplus December 31, September 30, Arising from issuance of new share capital $ 108,800,191 $ 108,800,191 Arising from employee share options 6,274,591 6,274,591 Changes in percentage of ownership interests in subsidiary 1,376,349 1,376,349 Equity component of long-term debt (Note 14) 44,579 44,579 $ 116,495,710 $ 116,495,710 |
Schedule of Accumulated Deficits | The accumulated deficits for 2018 and 2019 approved by the shareholders’ meetings on June 21, 2019 and June 29, 2020, respectively, were as follows: For the year ended December 31 2018 2019 Accumulated deficits at the beginning of the year $ (90,283,261 ) $ (132,468,858 ) Net loss for the year (42,185,597 ) (47,015,967 ) Accumulated deficits at the end of the year $ (132,468,858 ) $ (179,484,825 ) |
Disclosure And Detailed Information Of Other Equity Items | d. Other reserves items Unrealized loss on financial assets at fair value through other comprehensive income: For the nine months ended 2019 2020 Balance at January 1 $ — $ (55,084 ) Unrealized loss Equity instruments (9,046 ) (98,350 ) Balance at September 30 $ (9,046 ) $ (153,434 ) |
Schedule of Non-controlling Interests | e. Non-controlling interests For the nine months ended 2019 2020 Balance at January 1 $ — $ 1,074,081 Share in loss for the period — (583,948 ) Balance at September 30 $ — $ 490,133 |
Loss Before Income Tax (Tables)
Loss Before Income Tax (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Profit (loss) [abstract] | |
Schedule of Other Gains and Losses | a. Other gains and losses For the nine months ended 2019 2020 Net foreign exchange gains $ 128,820 $ 126,787 (Loss) Gain on disposal of property, plant and equipment (75,296 ) 359 Net (loss)gain on fair value changes of financial assets and liabilities at fair value through profit or loss (21,998 ) 236,169 Loss on lease modification (64,287 ) — Subsidy from the government — 110,233 Others (5,529 ) 30,946 $ (38,290 ) $ 504,494 |
Summary of Finance costs | b. Finance costs For the nine months ended 2019 2020 Other interest expenses $ 256,905 $ 416,232 Interest on government loans 327,223 321,655 Interest on loans from shareholders — 153,519 Interest on lease liabilities 24,374 30,108 $ 608,502 $ 921,514 |
Schedule of Depreciation and Amortization | c. Depreciation and amortization For the nine months ended 2019 2020 Right-of-use $ 201,411 $ 199,115 Property, plant and equipment 155,663 23,446 Computer software 3,369 2,443 $ 360,443 $ 225,004 |
Schedule of Employee Benefits Expense | d. Employee benefits expense For the nine months ended 2019 2020 Short-term benefits $ 3,389,244 $ 2,820,552 Post-employment benefits (Note 15) 268,257 156,072 Share-based payments (Note 21) Equity-settled 42,511 — Cash-settled (255,062 ) 198,720 Total employee benefits expense $ 3,444,950 $ 3,175,344 Employee benefits expense by function General and administrative expenses $ 2,306,923 $ 2,696,325 Research and development expenses 1,138,027 479,019 $ 3,444,950 $ 3,175,344 |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Income Tax [Abstract] | |
Summary of Income Tax Recognized in Profit or Loss | Income Tax Recognized in Profit or Loss For the nine months ended 2019 2020 Current tax In respect of the current period $ (395,290 ) $ 165,699 |
Loss Per Ordinary Share (Tables
Loss Per Ordinary Share (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Earnings per share [abstract] | |
Summary of Earnings Per Share | For the nine months ended 2019 2020 Basic and diluted loss per ordinary share $ (0.11 ) $ (0.05 ) |
Summary of Loss and Weighted-Average Number of Ordinary Shares Outstanding | The loss and weighted-average number of ordinary shares outstanding used in the computation of loss per share are as follows: For the nine months ended 2019 2020 Loss used in the computation of basic and diluted loss per ordinary share $ (17,460,159 ) $ (10,267,070 ) Weighted-average number of ordinary shares in the computation of basic loss per ordinary share 160,248,940 189,954,970 |
Share-Based Payment Arrangeme_2
Share-Based Payment Arrangements (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Summary of Employee Share Options | Information on employee share options granted from July 2010 to 2016 is as follows: For the nine months ended September 30 2019 2020 Number of Weighted- average Per Option Number of Weighted- average Per Option Balance at January 1 6,822,523 $ 1.41 6,670,356 $ 1.43 Options forfeited (32,167 ) 2.26 — — Balance at September 30 6,790,356 1.41 6,670,356 1.43 Options exercisable, end of period 6,790,356 1.41 6,670,356 1.43 Weighted-average fair value of options granted $ — $ — Information on employee share options granted in September 2017 is as follows: For the nine months ended September 30 2019 2020 Number of Weighted- average Per Option Number of Weighted- average Per Option Balance at January 1 698,167 $ 1.28 501,167 $ 1.28 Options forfeited (197,000 ) 1.28 — — Balance at September 30 501,167 1.28 501,167 1.28 Options exercisable, end of period — — 501,167 1.28 Weighted-average fair value of options granted $ — $ — |
Summary of Outstanding Options | Information on outstanding options as of September 30, 2020 is as follows: July 2010 July 2011 July 2012 July 2013 July 2014 July 2015 July 2016 September 2017 Range of Weighted- Range of Weighted- Range Weighted- Range of Weighted- Range Weighted- Range of Weighted- Range Weighted- Range Weighted- $0.20-$0.80 0 $0.20-$0.80 0.7 $0.80 1.7 $0.80-$1.36 2.7 $1.36 3.7 $1.36-$1.88 4.7 $2.26 5.7 $1.28 6.9 |
Summary of Options Granted Priced Using Binomial Option Pricing Model | Options granted in July of 2010, 2011, 2012, 2013, 2014, 2015, 2016 and September 2017 were priced using the binomial option pricing model, and the inputs to the model were as follows: July 2010 July 2011 July 2012 July 2013 July 2014 July 2015 July 2016 September 2017 Grant-date share price $0.80 $0.80 $1.25 $1.36 $1.36 $1.88 $2.26 $1.28 Exercise price $0.20-$0.80 $0.20-$0.80 $0.80 $0.80-$1.36 $1.36 $1.36-$1.88 $2.26 $1.28 Expected volatility 59.16% 54.26%-54.44% 52.25% 50.58% 50.86% 36.37% 39.34% 38.33% Expected life (years) 10 10 10 10 10 10 10 10 Expected dividend yield — — — — — — — — Risk-free interest rate 2.954% 2.96%-3.22% 1.61% 2.5% 2.58% 2.43% 1.46% 1.10% |
Summary of Long Term Incentive Plan | The Company’s 2017 LTIP is described as follows: For the nine months Ended September 30 2019 2020 Balance at January 1 1,479,334 1,160,001 Awards forfeited (319,333 ) (253,000 ) Balance at September 30 1,160,001 907,001 Balance exercisable, end of period 815,000 1,354,333 The Company’s 2018 LTIP is described as follows: For the nine months Ended September 30 2019 2020 Balance at January 1 241,142 168,089 Awards forfeited (73,053 ) (38,466 ) Balance at September 30 168,089 129,623 Balance exercisable, end of period 56,030 136,410 The Company’s 2019 LTIP is described as follows: For the nine months Ended September 30 2019 2020 Balance at January 1 — 491,020 Awards granted 491,020 — Awards forfeited — (104,070 ) Balance at September 30 491,020 386,950 Balance exercisable, end of period — 163,673 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of detailed information about financial instruments [abstract] | |
Fair Value of Financial Instruments Measured at Fair Value on Recurring Basis | December 31, 2019 Level 1 Level 2 Level 3 Total Financial assets at fair value through profit or loss Derivative financial assets $ — $ — $ 68,256 $ 68,256 Financial assets at fair value through other comprehensive income Investments in equity instruments at fair value through other comprehensive income Unlisted shares $ — $ — $ 132,160 $ 132,160 Financial liabilities at fair value through profit or loss Derivative financial liabilities $ — $ — $ 262,350 $ 262,350 September 30, 2020 Level 1 Level 2 Level 3 Total Financial assets at fair value through profit or loss Derivative financial assets $ — $ — $ 157,675 $ 157,675 Financial assets at fair value through other comprehensive income Investments in equity instruments at fair value through other comprehensive income Unlisted shares $ — $ — $ 33,810 $ 33,810 Financial liabilities at fair value through profit or loss Derivative financial liabilities $ — $ — $ 115,600 $ 115,600 |
Summary of Categories of Financial Instruments | December 31, September 30, Financial assets Financial assets at fair value through profit or loss Derivative financial assets $ 68,256 $ 157,675 Financial assets at amortized cost (1) 22,311,107 12,168,826 Financial assets at fair value through other comprehensive income Equity instruments 132,160 33,810 Financial liabilities Financial liabilities at fair value through profit or loss Derivative financial liabilities 262,350 115,600 Financial liabilities at amortized cost (2) 21,963,089 22,922,123 1) The balances include financial assets at amortized cost, which comprise of cash and cash equivalents and refundable deposits. 2) The balances include financial liabilities at amortized cost, which comprise of trade payables, partial other payables, other current liabilities and long-term borrowings. |
Summary of Significant Financial Assets and Liabilities Denominated in Foreign Currencies | The Company’s significant financial assets and liabilities denominated in foreign currencies were as follows: December 31, 2019 Foreign Exchange Rate Carrying Financial assets Monetary items SGD S$ 2,538,168 0.7431 $ 1,886,160 GBP £ 999,471 1.3187 1,318,000 Financial liabilities Monetary items SGD S$ 15,126,578 0.7431 $ 11,240,843 September 30, 2020 Foreign Exchange Rate Carrying Financial assets Monetary items SGD S$ 1,072,863 0.7314 $ 784,658 GBP £ 346,137 1.2872 445,536 Financial liabilities Monetary items SGD S$ 15,707,031 0.7314 $ 11,487,626 GBP £ 233,944 1.2872 301,125 |
Sensitivity Analysis of Foreign Currency Risk | For the nine months ended September 30 2019 2020 Profit or loss* SGD $ (502,732 ) $ (535,148 ) GBP — 7,221 * This is mainly attributable to the exposure to outstanding deposits in banks and loans in foreign currency at the end of the reporting period. |
Transactions with Related Par_2
Transactions with Related Parties (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of transactions between related parties [abstract] | |
Disclosure of Transactions Between Group and Other Related Parties | a. Related party name and category Related Party Name Related Party Category JANK Howden Pty Ltd Related party in substance Others Key Management Personnel b. Loans from related parties Related Party Category/Name December 31, September 30, 2020 Related party in substance / JANK Howden Pty Ltd $ 502,205 $ 501,401 Key Management Personnel / Others 50,221 50,140 $ 552,426 $ 551,541 Interest Payable Related Party Category/Name December 31, September 30, 2020 Related party in substance / JANK Howden Pty Ltd $ 12,500 $ 47,419 Key Management Personnel / Others 1,250 4,742 $ 13,750 $ 52,161 Interest expense For the nine months Ended September 30 Related Party Category/Name 2019 2020 Related party in substance / JANK Howden Pty Ltd $ — $ 34,115 Key Management Personnel / Others — 3,412 $ — $ 37,527 |
Schedule of Key Management Personnel Compensation | c. Compensation of Key Management Personnel For the nine months Ended September 30 Related Party Category/Name 2019 2020 Short-term employee benefits $ 2,081,781 $ 1,356,957 Post-employment benefits 111,131 65,960 Share-based payments recognized 1,578,128 198,720 $ 3,771,040 $ 1,621,637 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure of operating segments [abstract] | |
Analysis of the Company Revenue from Major Products and Services | The following is an analysis of the Company’s revenue from its major products and services. For the nine months ended September 30 2019 2020 Out-licensing $ 3,000,000 $ — |
General Information - Summary o
General Information - Summary of Detailed Information about Businesses and Intragroup Relationships of Group (Details) (Detail) | 9 Months Ended |
Sep. 30, 2020 | |
ASLAN Pharmaceuticals Limited Cayman Islands | |
Disclosure Of Detailed Information About Businesses And Intragroup Relationship Of Group Line Item | |
Name | ASLAN Pharmaceuticals Limited |
Place of Incorporation | Cayman Islands |
Date of Incorporation | 2014-06 |
Main Business | Investment holding |
ASLAN Pharmaceuticals Pte Ltd Singapore | |
Disclosure Of Detailed Information About Businesses And Intragroup Relationship Of Group Line Item | |
Name | ASLAN Pharmaceuticals Pte. Ltd. |
Place of Incorporation | Singapore |
Date of Incorporation | 2010-04 |
Main Business | New drug research and development |
ASLAN Pharmaceuticals Taiwan Limited | |
Disclosure Of Detailed Information About Businesses And Intragroup Relationship Of Group Line Item | |
Name | ASLAN Pharmaceuticals Taiwan Limited |
Place of Incorporation | Taiwan |
Date of Incorporation | 2013-11 |
Main Business | New drug research and development |
ASLAN Pharmaceuticals Australia Pty Ltd | |
Disclosure Of Detailed Information About Businesses And Intragroup Relationship Of Group Line Item | |
Name | ASLAN Pharmaceuticals Australia Pty Ltd. |
Place of Incorporation | Australia |
Date of Incorporation | 2014-07 |
Main Business | New drug research and development |
ASLAN Pharmaceuticals Hong Kong Limited | |
Disclosure Of Detailed Information About Businesses And Intragroup Relationship Of Group Line Item | |
Name | ASLAN Pharmaceuticals Hong Kong Limited |
Place of Incorporation | Hong Kong |
Date of Incorporation | 2015-07 |
Main Business | New drug research and development |
ASLAN Pharmaceuticals Shanghai Co Ltd | |
Disclosure Of Detailed Information About Businesses And Intragroup Relationship Of Group Line Item | |
Name | ASLAN Pharmaceuticals (Shanghai) Co. Ltd. |
Place of Incorporation | China |
Date of Incorporation | 2016-05 |
Main Business | New drug research and development |
ASLAN Pharmaceuticals USA Inc | |
Disclosure Of Detailed Information About Businesses And Intragroup Relationship Of Group Line Item | |
Name | ASLAN Pharmaceuticals (USA) Inc. |
Place of Incorporation | United States of America |
Date of Incorporation | 2018-10 |
Main Business | New drug research and development |
Jaguahr Therapeutics Pte. Ltd. | |
Disclosure Of Detailed Information About Businesses And Intragroup Relationship Of Group Line Item | |
Name | Jaguahr Therapeutics Pte. Ltd. |
Place of Incorporation | Singapore |
Date of Incorporation | 2019-08 |
Main Business | New drug research and development |
Application of New Amended an_3
Application of New Amended and Revised Standards and Interpretations - Schedule of New Amended or Revised Standards and Interpretations (Detail) | 9 Months Ended |
Sep. 30, 2020 | |
Amendments To IFRS 3 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
New, Amended or Revised Standards and Interpretations | Amendments to IFRS 3 “Definition of a Business” |
Effective Date Announced by IASB | Jan. 1, 2020 |
Amendments To IAS 1 And IAS 8 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
New, Amended or Revised Standards and Interpretations | Amendments to IAS 1 and IAS 8 “Definition of Material” |
Effective Date Announced by IASB | Jan. 1, 2020 |
Amendments to IFRS 9, IAS 39 and IFRS 7 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
New, Amended or Revised Standards and Interpretations | Amendments to IFRS 9, IAS 39 and IFRS 7 “Interest Rate Benchmark Reform” |
Effective Date Announced by IASB | Jan. 1, 2020 |
Amendments To IFRS 10 And IAS 28 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
New, Amended or Revised Standards and Interpretations | Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets between An Investor and Its Associate or Joint Venture” |
Effective Date Announced by IASB | To be determined by IASB |
IFRS 17 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
New, Amended or Revised Standards and Interpretations | IFRS 17 “Insurance Contracts” |
Effective Date Announced by IASB | Jan. 1, 2023 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Cash and cash equivalents [abstract] | ||
Cash on hand | $ 1,723 | $ 1,723 |
Deposits in banks | 12,058,562 | 22,201,308 |
Cash | $ 12,060,285 | $ 22,203,031 |
Financial Instruments at Fair_3
Financial Instruments at Fair Value Through Profit or Loss - Summary of Financial Instruments at Fair Value Through Profit or Loss (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Statement [LineItems] | ||
Financial assets mandatorily classified as at FVTPL | $ 157,675 | $ 68,256 |
Financial liabilities at fair value through profit or loss (FVTPL) - Non-current | ||
Financial liabilities designated as at FVTPL | 115,600 | 262,350 |
warrants [Member] | ||
Statement [LineItems] | ||
Financial assets mandatorily classified as at FVTPL | 287 | 13,019 |
Pre-redemption Right [Member] | ||
Statement [LineItems] | ||
Financial assets mandatorily classified as at FVTPL | $ 157,388 | $ 55,237 |
Financial Assets at Fair Valu_3
Financial Assets at Fair Value Through Other Comprehensive Income - Summary of Financial Assets at Fair Value Through Other Comprehensive Income (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Financial assets at fair value through other comprehensive income [abstract] | ||
Investments in equity instruments at fair value through other comprehensive income (FVTOCI) | $ 33,810 | $ 132,160 |
Details of Subsidiaries that _2
Details of Subsidiaries that have Material Non-Controlling Interests - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Non-controlling Interests | |
Statement [Line Items] | |
Changes in non controlling interests | $ 0 |
Property, Plant and Equipment -
Property, Plant and Equipment - Summary of Carrying Amount of Each Class of Property Plant and Equipment (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property Plant And Equipment | $ 19,943 | $ 38,333 | $ 56,152 | $ 288,418 |
Office Equipment | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property Plant And Equipment | 17,997 | 31,105 | 39,327 | 98,820 |
Other Equipment | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property Plant And Equipment | 57 | 1,938 | 3,324 | 11,052 |
Leasehold Improvements | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property Plant And Equipment | $ 1,889 | $ 5,290 | $ 13,501 | $ 178,546 |
Property, Plant and Equipment_2
Property, Plant and Equipment - Summary of Cost and Accumulated Depreciation of Property Plant and Equipment (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning balance | $ 38,333 | $ 288,418 |
Ending balance | 19,943 | 56,152 |
Gross carrying amount | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning balance | 514,979 | 801,221 |
Additions | 5,056 | 2,993 |
Disposals | (2,806) | (285,914) |
Ending balance | 517,229 | 518,300 |
Accumulated depreciation | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning balance | 476,646 | 512,803 |
Depreciation expenses | 23,446 | 155,663 |
Disposals | (2,806) | (206,318) |
Ending balance | 497,286 | 462,148 |
Office Equipment | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning balance | 31,105 | 98,820 |
Ending balance | 17,997 | 39,327 |
Office Equipment | Gross carrying amount | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning balance | 211,315 | 276,935 |
Additions | 5,056 | 2,993 |
Disposals | (2,806) | (65,292) |
Ending balance | 213,565 | 214,636 |
Office Equipment | Accumulated depreciation | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning balance | 180,210 | 178,115 |
Depreciation expenses | 18,164 | 44,591 |
Disposals | (2,806) | (47,397) |
Ending balance | 195,568 | 175,309 |
Other Equipment | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning balance | 1,938 | 11,052 |
Ending balance | 57 | 3,324 |
Other Equipment | Gross carrying amount | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning balance | 35,291 | 36,180 |
Additions | 0 | 0 |
Disposals | 0 | (889) |
Ending balance | 35,291 | 35,291 |
Other Equipment | Accumulated depreciation | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning balance | 33,353 | 25,128 |
Depreciation expenses | 1,881 | 7,357 |
Disposals | 0 | (518) |
Ending balance | 35,234 | 31,967 |
Leasehold Improvements | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning balance | 5,290 | 178,546 |
Ending balance | 1,889 | 13,501 |
Leasehold Improvements | Gross carrying amount | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning balance | 268,373 | 488,106 |
Additions | 0 | 0 |
Disposals | 0 | (219,733) |
Ending balance | 268,373 | 268,373 |
Leasehold Improvements | Accumulated depreciation | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning balance | 263,083 | 309,560 |
Depreciation expenses | 3,401 | 103,715 |
Disposals | 0 | (158,403) |
Ending balance | $ 266,484 | $ 254,872 |
Property, Plant and Equipment_3
Property, Plant and Equipment - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2020 | |
Property, plant and equipment | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Useful lives | 3 years |
Lease Arrangements - Right of U
Lease Arrangements - Right of Use Assets - Carrying Amounts and Depreciation Charge (Detail) - USD ($) | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Carrying amounts | $ 528,751 | $ 727,866 | |
Additions to right-of-use-assets | $ 882,670 | ||
Buildings | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Carrying amounts | 528,751 | $ 727,866 | |
Depreciation charge for right-of-use assets | $ 199,115 | $ 201,411 |
Lease Arrangements - Lease Liab
Lease Arrangements - Lease Liabilities - Carrying Amounts and Discount Rate (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | ||
Current | $ 327,040 | $ 264,543 |
Non-current | 281,149 | 490,835 |
Lease liabilities recognized | $ 608,189 | $ 755,378 |
Buildings | ||
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | ||
Discount rate | 6.00% | 6.00% |
Lease Arrangements - Additional
Lease Arrangements - Additional Information (Detail) - Buildings - USD ($) | Sep. 30, 2020 | Sep. 30, 2020 |
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | ||
Operating leases lease term | 3 years | |
Increase Decrease In Lease Liabilities | $ 736,377 |
Lease Arrangements - Other Leas
Lease Arrangements - Other Lease Information (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure Of Finance Leases And Operating Leases By Lessee [Abstract] | ||
Expenses relating to short-term leases | $ 105,370 | $ 216,201 |
Expenses relating to low-value asset leases | 2,572 | 6,198 |
Total cash outflow for leases | $ 262,121 | $ 425,821 |
Lease Arrangements - Disclosure
Lease Arrangements - Disclosure Of Detailed Information About Lease Commitments Explanatory (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Disclosure Of Finance Leases And Operating Leases By Lessee [Abstract] | ||
Lease commitments | $ 2,867 | $ 67,935 |
Intangible Assets - Summary of
Intangible Assets - Summary of Carrying Amounts of Each Class of Intangible Assets (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Disclosure Of Intangible Assets [Line Items] | ||||
Intangible assets | $ 402 | $ 2,845 | $ 23,077,223 | $ 23,080,592 |
Licenses | ||||
Disclosure Of Intangible Assets [Line Items] | ||||
Intangible assets | 0 | 0 | 23,073,400 | 23,073,400 |
Computer Software | ||||
Disclosure Of Intangible Assets [Line Items] | ||||
Intangible assets | $ 402 | $ 2,845 | $ 3,823 | $ 7,192 |
Intangible Assets - Summary o_2
Intangible Assets - Summary of Cost and Accumulated Amortization of Intangible Assets (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure Of Intangible Assets [Line Items] | ||
Beginning balance | $ 2,845 | $ 23,080,592 |
Ending balance | 402 | 23,077,223 |
Gross carrying amount | ||
Disclosure Of Intangible Assets [Line Items] | ||
Beginning balance | 23,116,470 | 23,116,470 |
Accumulated depreciation and impairment | ||
Disclosure Of Intangible Assets [Line Items] | ||
Beginning balance | 23,113,625 | 35,878 |
Amortization expenses | 2,443 | 3,369 |
Ending balance | 23,116,068 | 39,247 |
Licences | ||
Disclosure Of Intangible Assets [Line Items] | ||
Beginning balance | 0 | 23,073,400 |
Ending balance | 0 | 23,073,400 |
Licences | Gross carrying amount | ||
Disclosure Of Intangible Assets [Line Items] | ||
Beginning balance | 23,073,400 | 23,073,400 |
Licences | Accumulated depreciation and impairment | ||
Disclosure Of Intangible Assets [Line Items] | ||
Beginning balance | 23,073,400 | |
Ending balance | 23,073,400 | |
Computer Software | ||
Disclosure Of Intangible Assets [Line Items] | ||
Beginning balance | 2,845 | 7,192 |
Ending balance | 402 | 3,823 |
Computer Software | Gross carrying amount | ||
Disclosure Of Intangible Assets [Line Items] | ||
Beginning balance | 43,070 | 43,070 |
Computer Software | Accumulated depreciation and impairment | ||
Disclosure Of Intangible Assets [Line Items] | ||
Beginning balance | 40,225 | 35,878 |
Amortization expenses | 2,443 | 3,369 |
Ending balance | $ 42,668 | $ 39,247 |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) - USD ($) | Nov. 11, 2019 | Jul. 05, 2019 | Sep. 30, 2020 | Dec. 31, 2019 |
Disclosure Of Intangible Assets [Line Items] | ||||
Impairment loss recognized | $ 23,000,000 | $ 73,400 | $ 23,000,000 | |
Computer Software | ||||
Disclosure Of Intangible Assets [Line Items] | ||||
Estimated useful lives | 3 years |
Other Payables - Schedule of Ot
Other Payables - Schedule of Other Payables (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Trade And Other Payables [Abstract] | ||
Payables for cash-settled share-based payment transactions (Note 21) | $ 1,074,741 | $ 755,787 |
Payables for salaries and bonuses | 692,961 | 1,037,213 |
Interest payables | 649,875 | 392,970 |
Payables for professional fees | 244,994 | 923,726 |
Others | 83,282 | 137,146 |
Other Payables | $ 2,745,853 | $ 3,246,842 |
Long Term Borrowings - Summary
Long Term Borrowings - Summary of Loans (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 | Apr. 27, 2011 |
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Long-term borrowings | $ 17,499,076 | $ 17,065,305 | |
Unsecured borrowings from related parties | 603,702 | 566,176 | |
Loans from Government | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Long-term borrowings | 7,245,041 | 7,361,124 | $ 10,000,000 |
Other Long-term Borrowings | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Long-term borrowings | 4,894,331 | 4,813,176 | |
Interest Payables | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Long-term borrowings | 3,654,938 | 3,183,507 | |
Unsecured borrowings from related parties | 52,161 | 13,750 | |
Loans from Shareholders | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Long-term borrowings | 1,704,766 | 1,707,498 | |
Loans from Related Parties | |||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||
Unsecured borrowings from related parties | $ 551,541 | $ 552,426 |
Long Term Borrowings - Addition
Long Term Borrowings - Additional Information (Detail) - USD ($) | Oct. 25, 2019 | Sep. 30, 2019 | May 12, 2014 | Apr. 27, 2011 | Nov. 30, 2019 | Oct. 31, 2019 | Sep. 30, 2020 | Dec. 31, 2019 |
Disclosure Of Detailed Information About Borrowings [Line Items] | ||||||||
Long-term borrowings | $ 17,499,076 | $ 17,065,305 | ||||||
Loans from Government | ||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||||||||
Long-term borrowings | $ 10,000,000 | 7,245,041 | 7,361,124 | |||||
Loan repayable period | five-year | |||||||
Borrowings, interest rate | 6.00% | |||||||
Loans from Government | ||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||||||||
Long-term borrowings | $ 10,643,914 | 10,485,464 | ||||||
CSL Finance Pty Ltd | ||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||||||||
Loan facility | $ 4,500,000 | |||||||
Percentage of based on research and development costs | 75.00% | |||||||
Borrowings Interest rate | 6% plus LIBOR | |||||||
Long-term Borrowings Including Interest | $ 4,710,232 | 4,453,327 | ||||||
CSL Finance Pty Ltd | Top of Range | ||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||||||||
Loan repayable period | 10 years | |||||||
Convertible Loan Facility | ||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||||||||
Loan facility | $ 1,000,000 | |||||||
loan repayable period | 2 years | |||||||
Borrowings, interest rate | 10.00% | |||||||
Volume weighted average price | 90.00% | |||||||
Number of units in American Depositary Shares | 5 | |||||||
Description of borrowings redemption and conversion policies | (a) such outstanding principal amount and accrued and unpaid interest under the loan by (b) 90% of the volume-weighted average price of the Company’s ADSs on the date of the conversion notice. Each ADS represents five ordinary shares of the Company | |||||||
Proceeds from non-current borrowings | $ 1,000,000 | |||||||
October Or November 2019 Loan Facility | ||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||||||||
Loan repayable period | two-year | |||||||
Loan facility | $ 2,250,000 | |||||||
Borrowings, interest rate | 10.00% | |||||||
Proceeds from non-current borrowings | $ 300,000 | $ 1,950,000 | ||||||
Warrants to purchase | 483,448 | 74,377 | ||||||
Exercise price | $ 2.02 | $ 2.02 | ||||||
October Or November 2019 Loan Facility | Ordinary Shares | ||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||||||||
Warrants to purchase | 2,417,240 | 371,885 | ||||||
October Or November 2019 Loan Facility | Top of Range | ||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||||||||
Repayment loan amount owed | $ 1,000,000 | |||||||
Convertible Loan Facility And October Or November 2019 Loan Facility | ||||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||||||||
Long-term Borrowings Including Interest | $ 3,398,507 | $ 3,085,660 |
Retirement Benefits Plans - Add
Retirement Benefits Plans - Additional Information (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure Of Defined Benefit Plans [Line Items] | ||
Employee benefits expense | $ 156,072 | $ 268,257 |
Defined Contribution Plans | ||
Disclosure Of Defined Benefit Plans [Line Items] | ||
Employer contribution percentage | 6.00% |
Equity - Schedule of Ordinary S
Equity - Schedule of Ordinary Shares (Detail) | Sep. 30, 2020USD ($)shares | Sep. 30, 2020TWD ($)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2019TWD ($)shares |
Equity [abstract] | ||||
Number of shares authorized | shares | 500,000,000 | 500,000,000 | 500,000,000 | 500,000,000 |
Amount of shares authorized | $ | $ 165,000,000 | $ 5,000,000,000 | ||
Number of shares issued and fully paid | shares | 189,954,970 | 189,954,970 | 189,954,970 | 189,954,970 |
Amount of shares issued and fully paid | $ | $ 61,366,844 | $ 61,366,844 |
Equity - Additional Information
Equity - Additional Information (Detail) | Dec. 03, 2019$ / sharesshares | Dec. 03, 2019$ / sharesshares | May 04, 2018$ / sharesshares | May 04, 2018$ / sharesshares | Nov. 16, 2020USD ($)$ / sharesshares | Oct. 09, 2020USD ($) | Sep. 30, 2020USD ($)$ / sharesshares | Sep. 30, 2020TWD ($)shares | Sep. 04, 2020USD ($)$ / sharesshares | Sep. 04, 2020TWD ($)shares | Jul. 17, 2020shares | Dec. 31, 2019TWD ($)$ / sharesshares |
Number of shares issued | 98,756,475 | |||||||||||
Amount of shares authorized | $ | $ 165,000,000 | $ 5,000,000,000 | ||||||||||
Number of shares authorized | 500,000,000 | 500,000,000 | 500,000,000 | |||||||||
Closing exchange rate | 0.03 | 0.03 | ||||||||||
Other current liabilities | $ | $ 918,150 | |||||||||||
After Redenomination Of Authorized Capital And Before Capital Reduction | ||||||||||||
Par value per shares | $ / shares | $ 0.33 | |||||||||||
Amount of shares authorized | $ | $ 165,000,000 | |||||||||||
Number of shares authorized | 500,000,000 | 500,000,000 | ||||||||||
Ordinary Shares | ||||||||||||
Par value per shares | $ / shares | $ 10 | |||||||||||
Open Market Agreement | Jefferies LLC | American Depository Receipts | ||||||||||||
Agregate amount of shares eligible to be sold | $ | $ 50,000,000 | |||||||||||
Tenth Amended And Restated Memorandum Of Association | Approved Reduction Of Capital | ||||||||||||
Par value per shares | $ / shares | $ 0.01 | |||||||||||
Amount of shares authorized | $ | $ 5,000,000 | |||||||||||
Number of shares authorized | 500,000,000 | |||||||||||
Conversion From Shares To American Depository Receipts | ||||||||||||
Number of shares authorized | 19,751,295 | 19,751,295 | ||||||||||
Conversion From Shares To American Depository Receipts | Custodian And Brokerage Fee Payable | ||||||||||||
Other current liabilities | $ | $ 918,150 | |||||||||||
NT Dollar | Redenomination Of Authorized Capital | ||||||||||||
Par value per shares | $ / shares | $ 10 | |||||||||||
Amount of shares authorized | $ | $ 5,000,000,000 | |||||||||||
Number of shares authorized | 500,000,000 | 500,000,000 | ||||||||||
US Dollar | Redenomination Of Authorized Capital | ||||||||||||
Par value per shares | $ / shares | $ 0.33 | |||||||||||
Amount of shares authorized | $ | $ 165,000,000 | |||||||||||
Number of shares authorized | 500,000,000 | 500,000,000 | ||||||||||
Initial Public Offering | ||||||||||||
Number of shares issued | 5,893,206 | 5,893,206 | 6,000,000 | 6,000,000 | ||||||||
Offering price per share | (per share) | $ 2.50 | $ 15.24 | $ 7.03 | $ 41.72 | ||||||||
Initial Public Offering | Ordinary Shares | ||||||||||||
Number of shares issued | 29,466,030 | 29,466,030 | 30,000,000 | 30,000,000 |
Equity - Schedule of Capital Su
Equity - Schedule of Capital Surplus (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Equity [abstract] | ||
Arising from issuance of new share capital | $ 108,800,191 | $ 108,800,191 |
Arising from employee share options | 6,274,591 | 6,274,591 |
Changes in percentage of ownership interests in subsidiary | 1,376,349 | 1,376,349 |
Equity component of long-term debt (Note 14) | 44,579 | 44,579 |
Total | $ 116,495,710 | $ 116,495,710 |
Equity - Schedule of Accumulate
Equity - Schedule of Accumulated Deficits (Detail) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Equity [abstract] | ||||
Accumulated deficits at the beginning of the year | $ (179,484,825) | $ (132,468,858) | $ (132,468,858) | $ (90,283,261) |
Net loss for the year | (10,851,018) | $ (17,460,159) | (47,015,967) | (42,185,597) |
Accumulated deficits at the end of the year | $ (189,751,895) | $ (179,484,825) | $ (132,468,858) |
Equity - Unrealised gains (loss
Equity - Unrealised gains (losses) from financial assets measured at fair value through other comprehensive income (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Equity [abstract] | ||
Balance at January 1 | $ (55,084) | |
Equity instruments | (98,350) | (9,046) |
Balance at September 30 | $ (153,434) | $ (9,046) |
Equity - Schedule Of Non-Contro
Equity - Schedule Of Non-Controlling Interest (Detail) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Beginning balance | $ (603,274) | $ 30,618,033 | $ 30,618,033 | |
Share in loss for the period | (10,851,018) | (17,460,159) | (47,015,967) | $ (42,185,597) |
Ending balance | (11,552,642) | 13,191,339 | (603,274) | 30,618,033 |
Non-controlling interests [member] | ||||
Beginning balance | 1,074,081 | |||
Share in loss for the period | (583,948) | |||
Ending balance | $ 490,133 | $ 1,074,081 |
License Agreements - Additional
License Agreements - Additional Information (Detail) | Nov. 11, 2019USD ($) | Jul. 05, 2019USD ($) | Mar. 31, 2019USD ($) | Feb. 28, 2019USD ($) | Jun. 30, 2018USD ($) | Jan. 31, 2018USD ($) | Aug. 31, 2016USD ($) | Aug. 31, 2016SGD ($) | Sep. 30, 2020USD ($)Target | Sep. 30, 2019USD ($)Warrant$ / sharesshares | Sep. 30, 2019SGD ($)Warrantshares | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2016USD ($) |
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||||||||
Impairment loss recognized | $ 23,000,000 | $ 73,400 | $ 23,000,000 | |||||||||||
Array Biopharma | License Agreements | ||||||||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||||||||
Initial upfront payment | $ 12,000,000 | |||||||||||||
Additional payment | $ 11,000,000 | |||||||||||||
Development milestone linked payments estimated | 30,000,000 | |||||||||||||
Regulatory milestones linked payments estimated | 20,000,000 | |||||||||||||
Commercial milestones linked payments estimated | $ 55,000,000 | |||||||||||||
Almirall | License Agreements | ||||||||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||||||||
Agreement date | Dec. 31, 2015 | |||||||||||||
Agreement amended date | Mar. 31, 2018 | |||||||||||||
CSL Limited | License Agreements | ||||||||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||||||||
Regulatory milestones linked payments estimated | $ 95,000,000 | |||||||||||||
First Payment | 30,000,000 | |||||||||||||
Sales mile stones linled payments estimated | $ 655,000,000 | |||||||||||||
CSL Limited | License Agreements | Top of Range | ||||||||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||||||||
Percentage of entity's revenue | 10.00% | |||||||||||||
Hyundai Pharm Co., Ltd. | License Agreements | ||||||||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||||||||
Agreement date | Oct. 31, 2015 | |||||||||||||
Option payment received | $ 250,000 | |||||||||||||
Payment to third parties as payment for proceeds from out-licensing agreement | 125,000 | |||||||||||||
Remaining performance obligation | $ 0 | |||||||||||||
Hyundai Pharm Co., Ltd. | Buy Back of Rights to Commercialize | ||||||||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||||||||
Payment to buy back the rights to commercialize | $ 325,000 | |||||||||||||
Exploit Technologies Pte Ltd | License Agreements | ||||||||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||||||||
Additions | $ 73,400 | $ 100,000 | ||||||||||||
Milestone payment receivable upon achievement | $ 8,978,951 | $ 12,000,000 | ||||||||||||
Collaboration agreement, term (in years) | 3 years | 3 years | ||||||||||||
Nanyang Technological University | License Agreements | ||||||||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||||||||
Agreement date | Oct. 31, 2016 | |||||||||||||
Number of targets to select | Target | 3 | |||||||||||||
Number of shares received in exchange for surrender of residual rights | shares | 599,445 | 599,445 | ||||||||||||
Value of shares received in exchange for surrender of residual rights | $ 187,244 | $ 255,000 | ||||||||||||
Subscription price | $ / shares | $ 0.32 | |||||||||||||
Gain from derecognition recorded as other income | $ 187,244 | |||||||||||||
Number of warrants received in exchange for surrender of residual rights | Warrant | 599,445 | 599,445 | ||||||||||||
BioGenetics Co. Ltd | License Agreements | ||||||||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||||||||
Initial upfront payment | 2,000,000 | |||||||||||||
Percentage of sublicense agreement ceiling | 10.00% | |||||||||||||
Upfront payment | $ 1,000,000 | |||||||||||||
Remaining performance obligation | 0 | 0 | ||||||||||||
License Cost | 82,259 | |||||||||||||
BioGenetics Co. Ltd | License Agreements | Top of Range | ||||||||||||||
Disclosure Of Transactions Between Related Parties [Line Items] | ||||||||||||||
Sales and development milestone payments | $ 8,000,000 | |||||||||||||
Sales mile stones linled payments estimated | $ 11,000,000 |
Loss Before Income Tax - Schedu
Loss Before Income Tax - Schedule of Other Gains and Losses (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Profit Loss [Abstract] | ||
Net foreign exchange gains | $ 126,787 | $ 128,820 |
(Loss) Gain on disposal of property, plant and equipment | 359 | (75,296) |
Net (loss)gain on fair value changes of financial assets and liabilities at fair value through profit or loss | 236,169 | (21,998) |
Loss on lease modification | (64,287) | |
Subsidy from the government | 110,233 | |
Others | 30,946 | (5,529) |
Other gains and losses | $ 504,494 | $ (38,290) |
Loss Before Income Tax - Summar
Loss Before Income Tax - Summary of Finance costs (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Profit Loss [Abstract] | ||
Other interest expenses | $ 416,232 | $ 256,905 |
Interest on government loans | 321,655 | 327,223 |
Interest on loans from shareholders | 153,519 | |
Interest on lease liabilities | 30,108 | 24,374 |
Finance costs | $ 921,514 | $ 608,502 |
Loss Before Income Tax - Sche_2
Loss Before Income Tax - Schedule of Depreciation and Amortization (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure Of Property Plant And Equipment [Line Items] | ||
Depreciation and amortization | $ 225,004 | $ 360,443 |
Property, Plant and Equipment | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Depreciation and amortization | 23,446 | 155,663 |
Right-of-Use Assets | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Depreciation and amortization | 199,115 | 201,411 |
Computer Software | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Depreciation and amortization | $ 2,443 | $ 3,369 |
Loss Before Income Tax - Sche_3
Loss Before Income Tax - Schedule of Employee Benefits Expense (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Profit Loss [Abstract] | ||
Short-term benefits | $ 2,820,552 | $ 3,389,244 |
Post-employment benefits | 156,072 | 268,257 |
Share-based payments | ||
Equity-settled | 42,511 | |
Cash-settled | 198,720 | (255,062) |
Total employee benefits expense | 3,175,344 | 3,444,950 |
Employee benefits expense by function | ||
General and administrative expenses | 2,696,325 | 2,306,923 |
Research and development expenses | 479,019 | 1,138,027 |
Total employee benefits expense | $ 3,175,344 | $ 3,444,950 |
Loss Before Income Tax - Additi
Loss Before Income Tax - Additional Information (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure Of Employee Compensation And Remuneration Of Directors [Line Items] | ||
Amount of accrued employees' compensation and remuneration of directors | $ 0 | $ 0 |
Bottom of Range | ||
Disclosure Of Employee Compensation And Remuneration Of Directors [Line Items] | ||
Percentage of accrued employees' compensation and remuneration of directors | 0.10% | |
Top of Range | ||
Disclosure Of Employee Compensation And Remuneration Of Directors [Line Items] | ||
Percentage of accrued employees' compensation and remuneration of directors | 1.00% |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Tax Recognized in Profit or Loss (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Current tax | ||
In respect of the current period | $ 165,699 | $ (395,290) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | Aug. 13, 2020 | Aug. 23, 2019 | Mar. 31, 2019 | Feb. 28, 2019 | Sep. 30, 2020 | Sep. 30, 2019 |
Major Components Of Tax Expense Income [Line Items] | ||||||
Taxable income | $ (11,016,717) | $ (17,064,869) | ||||
Provision for income tax | $ (165,699) | $ 395,290 | ||||
Singapore | ||||||
Major Components Of Tax Expense Income [Line Items] | ||||||
Statutory corporate income tax rate | 17.00% | 17.00% | ||||
Taxable income | $ 0 | $ 0 | ||||
Provision for income tax | $ 450,000 | $ 450,000 | $ 0 | 0 | ||
Singapore | BioGenetics Co. Ltd | License Agreements | ||||||
Major Components Of Tax Expense Income [Line Items] | ||||||
Upfront payments collected | $ 3,000,000 | $ 3,000,000 | ||||
Tax withholding rate | 15.00% | 15.00% | ||||
Taiwan | ||||||
Major Components Of Tax Expense Income [Line Items] | ||||||
Statutory corporate income tax rate | 20.00% | |||||
Decrease in unappropriated earnings due to the effect of corporate surtax rate | 5.00% | |||||
Australia | ||||||
Major Components Of Tax Expense Income [Line Items] | ||||||
Statutory corporate income tax rate | 30.00% | |||||
Taxable income | $ 0 | 0 | ||||
Provision for income tax | $ 0 | 0 | ||||
Australia | Research and Development Activity | ||||||
Major Components Of Tax Expense Income [Line Items] | ||||||
Tax incentive | $ 165,699 | $ 79,710 | ||||
Hong Kong | ||||||
Major Components Of Tax Expense Income [Line Items] | ||||||
Statutory corporate income tax rate | 16.50% | |||||
Taxable income | $ 0 | 0 | ||||
Provision for income tax | 0 | 0 | ||||
Withholding taxes | $ 0 | 0 | ||||
China | ||||||
Major Components Of Tax Expense Income [Line Items] | ||||||
Statutory corporate income tax rate | 25.00% | |||||
Taxable income | $ 0 | 0 | ||||
Provision for income tax | 0 | 0 | ||||
UNITED STATES | ||||||
Major Components Of Tax Expense Income [Line Items] | ||||||
Taxable income | 0 | 0 | ||||
Provision for income tax | $ 0 | $ 0 | ||||
Federal income tax rate | 21.00% | |||||
State income tax rate | 8.70% |
Loss Per Ordinary Share - Summa
Loss Per Ordinary Share - Summary of Earnings Per Share (Detail) - $ / shares | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Earnings Per Share [Abstract] | ||
Basic and diluted loss per ordinary share | $ (0.05) | $ (0.11) |
Loss Per Ordinary Share - Sum_2
Loss Per Ordinary Share - Summary of Loss and Weighted Average Number of Ordinary Shares Outstanding (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Earnings Per Share [Abstract] | ||
Loss used in the computation of basic and diluted loss per ordinary share | $ (10,267,070) | $ (17,460,159) |
Weighted-average number of ordinary shares in the computation of basic loss per ordinary share | 189,954,970 | 160,248,940 |
Loss Per Ordinary Share - Addit
Loss Per Ordinary Share - Additional Information (Detail) - shares | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Earnings Per Share [Abstract] | ||
Anti-dilutive outstanding employee share options | 8,051,149 | 11,004,802 |
Share-based Payment Arrangeme_3
Share-based Payment Arrangements - Additional Information (Detail) | 1 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
Sep. 30, 2017shares | Jul. 31, 2016shares | Jul. 31, 2015shares | Jul. 31, 2014shares | Jul. 31, 2013shares | Jul. 31, 2012shares | Jul. 31, 2011shares | Jul. 31, 2010shares | Sep. 30, 2020USD ($)shares | Sep. 30, 2019USD ($)shares | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2017TWD ($) | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||
Anti-dilutive outstanding employee share options | 8,051,149 | 11,004,802 | ||||||||||||
Compensation costs recognized | $ | $ 0 | $ 42,511 | ||||||||||||
Recognized compensation liabilities, Non-current | $ | 95,926 | $ 184,870 | ||||||||||||
Other Payable | ||||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||
Recognized compensation liabilities, Current | $ | $ 1,074,741 | 755,787 | ||||||||||||
Employee Share Option Plan | ||||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||
Option granted to qualified employee | 825,833 | 1,032,250 | 2,477,336 | 680,625 | 619,250 | 669,750 | 910,000 | 661,000 | ||||||
Share option granted expiration period | 10 years | |||||||||||||
Description of vesting requirements for stock option | No performance conditions were attached to the plan. The Company has no legal constructive obligation to repurchase or settle the options in cash. | |||||||||||||
Decrease in exercise price for award previously granted | 50.00% | |||||||||||||
Anti-dilutive outstanding employee share options | 13,841,879 | |||||||||||||
Long Term Incentive Plans | ||||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||
Long term incentive plan bonus entitlement units granted | 1,566,000 | |||||||||||||
Retrospective share conversion ratio | 500.00% | |||||||||||||
Grant date fair value of award | 2.92 | $ 7.90 | $ 1.10 | $ 33.45 | ||||||||||
Reporting date fair value of award | $ | $ 1.90 | $ 2.03 | ||||||||||||
Recognized total expenses | $ | $ 198,720 | $ (255,062) | ||||||||||||
Long Term Incentive Plan Granted in 2017 | ||||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||
Long term incentive plan bonus entitlement units granted | 1,462,000 | |||||||||||||
Long Term Incentive Plan Granted in 2018 | ||||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||
Option granted to qualified employee | 241,142 | |||||||||||||
Long term incentive plan bonus entitlement units granted | 104,000 | |||||||||||||
Long Term Incentive Plan Granted in 2018 | Vest in Thirds Each Year After the First, Second, and Third Anniversary of Award | ||||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||
Long term incentive plan bonus entitlement units granted | 241,142 | |||||||||||||
Long Term Incentive Plan Granted in 2019 | ||||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||
Option granted to qualified employee | 491,020 | 491,020 | ||||||||||||
Long Term Incentive Plan Granted in 2019 | Vest in Thirds Each Year After the First, Second, and Third Anniversary of Award | ||||||||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||||||||
Long term incentive plan bonus entitlement units granted | 491,020 |
Share-based Payment Arrangeme_4
Share-based Payment Arrangements - Summary of Employee Share Options (Detail) | 9 Months Ended | |
Sep. 30, 2020shares$ / shares | Sep. 30, 2019shares$ / shares | |
July 2010 to July 2016 | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Number of Options, Beginning of Period | shares | 6,670,356 | 6,822,523 |
Number of Options, Forfeited | shares | 0 | (32,167) |
Number of Options, Ending of Period | shares | 6,670,356 | 6,790,356 |
Options exercisable, end of period | shares | 6,670,356 | 6,790,356 |
Weighted- average Exercise Price Per Option, Beginning of Period | $ / shares | $ 1.43 | $ 1.41 |
Weighted- average Exercise Price Per Option, Forfeited | $ / shares | 2.26 | |
Weighted- average Exercise Price Per Option, End of Period | $ / shares | 1.43 | 1.41 |
Weighted- average Exercise Price Per Option, Exercisable End of Period | $ / shares | $ 1.43 | $ 1.41 |
September 2017 | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Number of Options, Beginning of Period | shares | 501,167 | 698,167 |
Number of Options, Forfeited | shares | (197,000) | |
Number of Options, Ending of Period | shares | 501,167 | 501,167 |
Options exercisable, end of period | shares | 501,167 | |
Weighted- average Exercise Price Per Option, Beginning of Period | $ / shares | $ 1.28 | $ 1.28 |
Weighted- average Exercise Price Per Option, Forfeited | $ / shares | 1.28 | |
Weighted- average Exercise Price Per Option, End of Period | $ / shares | 1.28 | $ 1.28 |
Weighted- average Exercise Price Per Option, Exercisable End of Period | $ / shares | $ 1.28 |
Share-based Payment Arrangeme_5
Share-based Payment Arrangements - Summary of Outstanding Options (Detail) | 9 Months Ended |
Sep. 30, 2020$ / shares | |
July 2010 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Weighted-average Remaining Contractual Life (Years) | 0 years |
July 2010 | Bottom of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 0.20 |
July 2010 | Top of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 0.80 |
July 2011 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Weighted-average Remaining Contractual Life (Years) | 8 months 12 days |
July 2011 | Bottom of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 0.20 |
July 2011 | Top of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | 0.80 |
July 2012 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 0.80 |
Weighted-average Remaining Contractual Life (Years) | 1 year 8 months 12 days |
July 2013 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Weighted-average Remaining Contractual Life (Years) | 2 years 8 months 12 days |
July 2013 | Bottom of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 0.80 |
July 2013 | Top of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | 1.36 |
July 2014 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 1.36 |
Weighted-average Remaining Contractual Life (Years) | 3 years 8 months 12 days |
July 2015 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Weighted-average Remaining Contractual Life (Years) | 4 years 8 months 12 days |
July 2015 | Bottom of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 1.36 |
July 2015 | Top of Range | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | 1.88 |
July 2016 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 2.26 |
Weighted-average Remaining Contractual Life (Years) | 5 years 8 months 12 days |
September 2017 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |
Exercise price of outstanding share options | $ 1.28 |
Weighted-average Remaining Contractual Life (Years) | 6 years 10 months 24 days |
Share-based Payment Arrangeme_6
Share-based Payment Arrangements - Summary of Options Granted Priced Using Binomial Option Pricing Model (Detail) | 1 Months Ended | |||||||
Sep. 30, 2017yr$ / shares | Jul. 31, 2016yr$ / shares | Jul. 31, 2015yr$ / shares | Jul. 31, 2014yr$ / shares | Jul. 31, 2013yr$ / shares | Jul. 31, 2012yr$ / shares | Jul. 31, 2011yr$ / shares | Jul. 31, 2010yr$ / shares | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||
Grant-date share price | $ 1.28 | $ 2.26 | $ 1.88 | $ 1.36 | $ 1.36 | $ 1.25 | $ 0.80 | $ 0.80 |
Exercise price | $ 1.28 | $ 2.26 | $ 1.36 | $ 0.80 | ||||
Expected volatility | 38.33% | 39.34% | 36.37% | 50.86% | 50.58% | 52.25% | 59.16% | |
Expected life | yr | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
Risk-free interest rate | 1.10% | 1.46% | 2.43% | 2.58% | 2.50% | 1.61% | 2.954% | |
Bottom of Range | ||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||
Exercise price | $ 1.36 | $ 0.80 | $ 0.20 | $ 0.20 | ||||
Expected volatility | 54.26% | |||||||
Risk-free interest rate | 2.96% | |||||||
Top of Range | ||||||||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||||||||
Exercise price | $ 1.88 | $ 1.36 | $ 0.80 | $ 0.80 | ||||
Expected volatility | 54.44% | |||||||
Risk-free interest rate | 3.22% |
Share-based Payment Arrangeme_7
Share-based Payment Arrangements - Summary of Long Term Incentive Plan (Detail) - shares | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Long Term Incentive Plan Granted in 2017 | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Beginning balance | 1,160,001 | 1,479,334 |
Awards forfeited | (253,000) | (319,333) |
Ending balance | 907,001 | 1,160,001 |
Balance exercisable, end of period | 1,354,333 | 815,000 |
Long Term Incentive Plan Granted in 2018 | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Beginning balance | 168,089 | 241,142 |
Awards granted | 241,142 | |
Awards forfeited | (38,466) | (73,053) |
Ending balance | 129,623 | 168,089 |
Balance exercisable, end of period | 136,410 | 56,030 |
Long Term Incentive Plan Granted in 2019 | ||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Beginning balance | 491,020 | |
Awards granted | 491,020 | 491,020 |
Awards forfeited | (104,070) | |
Ending balance | 386,950 | 491,020 |
Balance exercisable, end of period | 163,673 |
Financial Instruments - Fair Va
Financial Instruments - Fair Value of Financial Instruments Measured at Fair Value on Recurring Basis (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Financial assets at fair value through profit or loss | ||
Derivative financial assets | $ 157,675 | $ 68,256 |
Financial assets at fair value through other comprehensive income | ||
Investments in equity instruments at fair value through other comprehensive income | 33,810 | 132,160 |
Financial liabilities at fair value through profit or loss | ||
Derivative financial liabilities | 115,600 | 262,350 |
Fair Value Measured on Recurring Basis | ||
Financial assets at fair value through profit or loss | ||
Derivative financial assets | 157,675 | 68,256 |
Financial assets at fair value through other comprehensive income | ||
Investments in equity instruments at fair value through other comprehensive income | 33,810 | 132,160 |
Financial liabilities at fair value through profit or loss | ||
Derivative financial liabilities | 115,600 | 262,350 |
Fair Value Measured on Recurring Basis | Level 3 | ||
Financial assets at fair value through profit or loss | ||
Derivative financial assets | 157,675 | 68,256 |
Financial assets at fair value through other comprehensive income | ||
Investments in equity instruments at fair value through other comprehensive income | 33,810 | 132,160 |
Financial liabilities at fair value through profit or loss | ||
Derivative financial liabilities | $ 115,600 | $ 262,350 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Disclosure Of Financial Instruments [Line Items] | |||
Transfer between Level 1 and 2, assets | $ 0 | $ 0 | |
Bottom of Range | Historical Volatility For Shares Measurement Input | |||
Disclosure Of Financial Instruments [Line Items] | |||
Percentage of historical volatility used. | 82.90% | ||
Discount For Lack Of Marketability | |||
Disclosure Of Financial Instruments [Line Items] | |||
Discount rate | 10.00% | ||
Increase decrease in discount rate | 1.00% | ||
Decrease in fair value | $ 423 | ||
Discount For Lack Of Control | |||
Disclosure Of Financial Instruments [Line Items] | |||
Discount rate | 10.00% | ||
Increase decrease in discount rate | 1.00% | ||
Decrease in fair value | $ 423 | ||
Market Bond Yield Curve And Risk Free Rate Premium | Discount Rate Measurement Input | |||
Disclosure Of Financial Instruments [Line Items] | |||
Percentage of warrants and convertibility right determine. | 15.00% | ||
Foreign Currency Risk | |||
Disclosure Of Financial Instruments [Line Items] | |||
Percentage of increase or decrease on exchange rate of foreign currency | 5.00% | ||
Sensitivity rate used in reporting foreign currency risk | 5.00% | ||
Percentage of increase on exchange rate of foreign currency | 5.00% | ||
Percentage of decrease on exchange rate of foreign currency | 5.00% | ||
Interest Rate Risk | |||
Disclosure Of Financial Instruments [Line Items] | |||
Borrowings, interest rate basis | 1.00% | 1.00% | |
Decrease (increase) in pre-tax loss | $ 112,529 | $ 114,661 | |
Level 3 | Historical Volatility For Shares Measurement Input | |||
Disclosure Of Financial Instruments [Line Items] | |||
Historical volatility | 84.63% | 41.87% |
Financial Instruments - Summary
Financial Instruments - Summary of Categories of Financial Instruments (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Financial assets at fair value through profit or loss | ||
Derivative financial assets | $ 157,675 | $ 68,256 |
Financial assets at amortized cost | 12,168,826 | 22,311,107 |
Financial assets at fair value through other comprehensive income | ||
Equity instruments | 33,810 | 132,160 |
Financial liabilities | ||
Derivative financial liabilities | 115,600 | 262,350 |
Financial liabilities at amortized cost | $ 22,922,123 | $ 21,963,089 |
Financial Instruments - Summar
Financial Instruments - Summary of Significant Financial Assets and Liabilities Denominated in Foreign Currencies (Detail) | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2020SGD ($) | Sep. 30, 2020SGD ($)GBP (£) | Dec. 31, 2019SGD ($) | Dec. 31, 2019SGD ($)GBP (£) | Sep. 30, 2020GBP (£) | Dec. 31, 2019GBP (£) | |
Disclosure of detailed information about financial instruments [abstract] | ||||||
Financial assets, Foreign Currencies | $ 1,072,863 | $ 1,072,863 | $ 2,538,168 | $ 2,538,168 | £ 346,137 | £ 999,471 |
Financial assets, Exchange Rate | 0.7314 | 1.2872 | 0.7431 | 1.3187 | ||
Financial assets, Carrying Amount | $ 784,658 | $ 784,658 | $ 1,886,160 | $ 1,886,160 | 445,536 | £ 1,318,000 |
Financial liabilities, Foreign Currencies | $ 15,707,031 | $ 15,707,031 | $ 15,126,578 | 15,126,578 | 233,944 | |
Financial liabilities, Exchange Rate | 0.7314 | 1.2872 | 0.7431 | |||
Financial Liabilities, Carrying Amount | $ 11,487,626 | $ 11,487,626 | $ 11,240,843 | $ 11,240,843 | £ 301,125 |
Financial Instruments - Sensiti
Financial Instruments - Sensitivity Analysis of Foreign Currency Risk (Detail) | 9 Months Ended | ||
Sep. 30, 2020SGD ($) | Sep. 30, 2020GBP (£) | Sep. 30, 2019SGD ($) | |
Foreign Currency Risk | |||
Disclosure Of Nature And Extent Of Risks Arising From Financial Instruments [Line Items] | |||
Impact of a 5% change in foreign exchange rates on profit or loss | $ (535,148) | £ 7,221 | $ (502,732) |
Transactions with Related Par_3
Transactions with Related Parties - Schedule of a Related Party Name and Category (Detail) | 9 Months Ended |
Sep. 30, 2020 | |
JANK Howden Pty Ltd | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Related party name | JANK Howden Pty Ltd |
Related party category | Related party in substance |
Others | |
Disclosure Of Transactions Between Related Parties [Line Items] | |
Related party name | Others |
Related party category | Key Management Personnel |
Transactions with Related Par_4
Transactions with Related Parties - Schedule of Loans from Related Parties (Detail) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Loans from related parties | $ 551,541 | $ 552,426 |
Related Party in Substance / JANK Howden Pty Ltd | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Loans from related parties | 501,401 | 502,205 |
Key Management Personnel / Others | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Loans from related parties | $ 50,140 | $ 50,221 |
Transactions with Related Par_5
Transactions with Related Parties - Schedule of Interest Payable from Related Parties (Detail) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Interest payable from related parties | $ 52,161 | $ 13,750 |
Related Party in Substance / JANK Howden Pty Ltd | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Interest payable from related parties | 47,419 | 12,500 |
Key Management Personnel / Others | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Interest payable from related parties | $ 4,742 | $ 1,250 |
Transactions with Related Par_6
Transactions with Related Parties - Schedule of Interest Expense from Related Parties (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Interest expense from related parties | $ 37,527 | |
Related Party in Substance / JANK Howden Pty Ltd | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Interest expense from related parties | 34,115 | |
Key Management Personnel / Others | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Interest expense from related parties | $ 3,412 |
Transactions with Related Par_7
Transactions with Related Parties - Schedule of Key Management Personnel Compensation (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure Of Transactions Between Related Parties [Abstract] | ||
Short-term employee benefits | $ 1,356,957 | $ 2,081,781 |
Post-employment benefits | 65,960 | 111,131 |
Share-based payments recognized | 198,720 | 1,578,128 |
Key management personnel compensation | $ 1,621,637 | $ 3,771,040 |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 9 Months Ended | |
Sep. 30, 2020USD ($)Segment | Sep. 30, 2019USD ($) | |
Disclosure Of Operating Segments [Line Items] | ||
Number of reportable segment | Segment | 1 | |
Revenue | $ 3,000,000 | |
Out-licensing | ||
Disclosure Of Operating Segments [Line Items] | ||
Revenue | 3,000,000 | |
Out-licensing | Commercialization Rights In Korea | ||
Disclosure Of Operating Segments [Line Items] | ||
Revenue | $ 3,000,000 |
Segment Information - Analysis
Segment Information - Analysis of the Company Revenue from Major Products and Services (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | ||
Revenue | $ 3,000,000 | |
Out-licensing | ||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | ||
Revenue | $ 3,000,000 |