XORTX Therapeutics (XRTX) 20-F 10 May 24 2023 FY Annual report (foreign) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2023 shares
Entity Addresses [Line Items]
Document Type	20-F
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-40858
Entity Registrant Name	XORTX Therapeutics Inc.
Entity Central Index Key	0001729214
Entity Incorporation, State or Country Code	A1
Entity Address, Address Line One	3710 — 33rd Street NW
Entity Address, City or Town	Calgary
Entity Address, State or Province	AB
Entity Address, Country	CA
Entity Address, Postal Zip Code	T2L 2M1
Title of 12(b) Security	Common Shares
Trading Symbol	XRTX
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Document Financial Statement Error Correction [Flag]	false
Entity Common Stock, Shares Outstanding	1,998,848
Auditor Firm ID	995
Auditor Name	Smythe LLP
Auditor Location	Vancouver, Canada
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	3710 — 33rd Street NW
Entity Address, City or Town	Calgary
Entity Address, State or Province	AB
Entity Address, Country	CA
Entity Address, Postal Zip Code	T2L 2M1
City Area Code	403
Local Phone Number	455-7727
Contact Personnel Name	James Fairbairn
Contact Personnel Email Address	jfairbairn@xortx.com

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022
Current
Cash	$ 3,447,665	$ 10,434,196	$ 14,869,861
Accounts receivable	60,711	81,752	40,654
Prepaid expenses	236,966	379,620	1,002,215
Deferred share issuance costs	323,441
Total Current Assets	4,068,783	10,895,568	15,912,730
Non-current
Contract payments	1,200,000	1,185,946	1,267,065
Intangible assets	175,254	199,834	202,125
Property and equipment	23,927	92,678
Total Assets	5,467,964	12,374,026	17,381,920
Current
Accounts payable and accrued liabilities	283,428	1,445,213	552,948
Current portion of lease obligation	11,510	66,090
Total Current Liabilities	294,938	1,511,303	552,948
Non-current
Derivative warrant liability	531,000	3,854,403	3,626,375
Lease obligation		11,509
Total Liabilities	825,938	5,377,215	4,179,323
Shareholders' Equity
Share capital	17,056,535	16,524,354	16,088,677
Reserves	5,468,257	6,197,158	4,991,594
Obligation to issue shares	24,746	24,746	24,746
Accumulated other comprehensive (loss) income	(52,605)	(52,605)	75,540
Accumulated deficit	(17,854,907)	(15,696,842)	(7,977,960)
Total Shareholders' Equity	4,642,026	6,996,811	13,202,597
Total Liabilities and Shareholders' Equity	$ 5,467,964	$ 12,374,026	$ 17,381,920

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Expenses
Research and development	$ 2,418,715	$ 6,761,818	$ 677,576
Consulting, wages and benefits	1,037,558	885,460	804,047
Directors' fees	179,406	122,572	49,366
Investor relations	919,490	928,424	412,079
Professional fees	514,263	454,071	226,374
General and administrative	375,505	448,824	139,983
Public company costs	170,184	120,813	188,642
Travel	170,187	22,538	1,849
Amortization of property and equipment	73,062	41,069
Amortization of intangible assets	66,632	17,077	14,266
Share-based payments	120,984	487,940	396,423
Loss before other items	(6,045,986)	(10,290,606)	(2,910,605)
Fair value adjustment on derivative warrant liability	3,641,403	3,396,137	2,636,391
Foreign exchange loss	(7,025)	(1,546)	(12,373)
Interest income (expense)	253,543	103,589	(4,451)
Transaction costs on derivative warrant liability		(926,456)	(1,288,236)
Net loss for the year	(2,158,065)	(7,718,882)	(1,579,274)
Items that may be subsequently reclassified to profit or loss:
Currency translation differences		(128,145)	150,464
Total comprehensive loss for the year	$ (2,158,065)	$ (7,847,027)	$ (1,428,810)
Basic and diluted loss per common share
Basic loss per common share	$ (1.09)	$ (5.22)	$ (1.44)
Diluted loss per common share	$ (1.09)	$ (5.22)	$ (1.44)
Weighted average number of common shares outstanding
Weighted average number of common shares outstanding, Basic	1,981,734	1,479,914	1,094,182
Weighted average number of common shares outstanding, Diluted	1,981,734	1,479,914	1,094,182

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity	Number of common shares CAD ($) shares	Share capital USD ($) shares	Reserves USD ($)	Obligation to issue shares USD ($)	Accumulated Deficit USD ($)	Accumulated other comprehensive (loss) income USD ($)	USD ($)
Beginning balance, value at Dec. 31, 2020	$ 768,302		$ 758,296	$ 24,746	$ (6,398,686)	$ (74,924)	$ 986,654
Beginning balance, Share at Dec. 31, 2020 | shares		6,677,222
Statement
Reclassification of derivative warrant liability			(3,506,565)				(3,506,565)
Shares issued pursuant to private placement		$ 573,935					573,935
Shares issued pursuant to private placement (shares) | shares	231,743
Shares issued pursuant to public listing		7,467,772					7,467,772
Shares issued pursuant to public listing (in shares) | shares	362,333
Share issuance costs		(1,104,238)	405,659				(698,579)
Options exercised		118,285	(51,783)				66,502
Options exercised (in shares) | shares	5,678
Pre-funded warrants exercised		2,296,609	(23,566)				2,273,043
Warrants exercised (in shares) | shares	72,398
Share-based payments			396,423				396,423
Shares issued for services		59,092					59,092
Shares issued for services (in shares) | shares	2,839
Net losses for the year							(1,579,274)
Comprehensive loss (income) for the year					(1,579,274)	150,464	(1,428,810)
Ending balance, Value at Dec. 31, 2021		16,088,677	4,991,594	24,746	(7,977,960)	75,540	13,202,597
Ending balance, Share at Dec. 31, 2021 | shares	1,443,293
Statement
Shares issued pursuant to public offering		359,868					359,868
Shares issued pursuant to public offering (shares) | shares	155,555
Share issuance costs		(88,959)	(42,687)				(131,646)
Pre-funded warrants exercised		(164,768)	164,704				(64)
Pre-funded warrants exercised (in shares) | shares	71,223
Share-based payments			487,940				487,940
Net losses for the year							(7,718,882)
Pre-funded warrants issued			925,015				925,015
Comprehensive loss (income) for the year					(7,718,882)	(128,145)	(7,847,027)
Ending balance, Value at Dec. 31, 2022		16,524,354	6,197,158	24,746	(15,696,842)	(52,605)	6,996,811
Ending balance, Share at Dec. 31, 2022 | shares	1,670,071
Statement
Reclassification of derivative warrant liability			(318,000)				(318,000)
Pre-funded warrants exercised		532,181	(531,885)				296
Pre-funded warrants exercised (in shares) | shares	328,777
Share-based payments			(120,984)				(120,984)
Net losses for the year							(2,158,065)
Comprehensive loss (income) for the year					(2,158,065)		(2,158,065)
Ending balance, Value at Dec. 31, 2023		$ 17,056,535	$ 5,468,257	$ 24,746	$ (17,854,907)	$ (52,605)	$ 4,642,026
Ending balance, Share at Dec. 31, 2023 | shares	1,998,848

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical)	Nov. 10, 2023
Consolidated Statements of Changes in Shareholders' Equity
Share conversion ratio	0.1

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities
Net loss for the year	$ (2,158,065)	$ (7,718,882)	$ (1,579,274)
Items not affecting cash:
Amortization	139,694	58,146	14,266
Fair value adjustment on derivative warrant liability	(3,641,403)	(3,396,137)	(2,636,391)
Fair value of finders' warrants allocated to derivative liability		138,005
Share-based payments	120,984	487,940	396,423
Unrealized foreign exchange (gain) loss	(13,634)	(6,391)	28,258
Shares issued for services			59,092
Changes in non-cash operating assets and liabilities:
Accounts receivable	21,041	(41,098)	(29,383)
Prepaid expenses	142,654	622,595	(794,713)
Accounts payable and accrued liabilities	(1,194,436)	892,265	(259,323)
Cash flows from (used in) operating activities	(6,583,165)	(8,963,557)	(4,801,045)
Investing activities
Acquisition of intangible assets	(42,052)	(26,005)	(31,807)
Acquisition of equipment	(4,311)	(19,696)
Cash flows from (used in) investing activities	(46,363)	(45,701)	(31,807)
Financing activities
Pre-funded warrants and warrants exercised	296	64	1,932,183
Payment of lease obligation	(66,089)	(20,410)
Cash share issuance costs	(295,251)	(269,555)	(698,579)
Proceeds from issuance of equity instruments		4,999,640	18,072,228
Options exercised			66,502
Net cash flows from (used in) financing activities	(361,044)	4,709,739	19,372,334
Effect of foreign exchange loss (gain) on cash	4,041		195,863
(Decrease) increase in cash	(6,986,531)	(4,435,665)	14,735,345
Cash, beginning of year	10,434,196	14,869,861	134,516
Cash, end of year	$ 3,447,665	10,434,196	14,869,861
Supplemental Cash Flow and Non-Cash Investing and Financing Activities Disclosure
Recognition of derivative warrant liabilities			10,083,230
Fair value of agent's warrants		185,738
Derivative warrant liability reclassified to reserves			3,506,565
Derivative warrant liability reclassified to share capital on exercise of warrants			$ 338,689
Recognition of right-of-use asset		$ 114,588

Nature of operations

Nature of operations	12 Months Ended
	Dec. 31, 2023
Nature of operations
Nature of operations	1. Nature of operations XORTX Therapeutics Inc. (the “Company” or “XORTX”) was incorporated under the laws of Alberta, Canada on August 24, 2012. XORTX is a public company listed on the TSX Venture Exchange (the “TSXV”) and on the Nasdaq Stock Market (“Nasdaq”) under the symbol “XRTX”. The Company’s operations and mailing address is 3710 – 33 rd XORTX is a late stage clinical pharmaceutical company focused on developing innovative therapies to treat progressive kidney disease modulated by aberrant purine and uric acid metabolism in orphan disease indications such as autosomal dominant polycystic kidney disease, as well as more prevalent type 2 diabetic nephropathy, and fatty liver disease. The Company’s current focus is on developing products to slow and/or reverse the progression of kidney disease in patients at risk of end stage kidney failure. The Company is subject to a number of risks associated with the successful development of new products and their marketing and the conduct of its clinical studies and their results. The Company will have to finance its research and development activities and its clinical studies. To achieve the objectives in its business plan, the Company plans to raise the necessary capital and to generate revenues. Although there is no certainty, management is of the opinion that additional funding for future projects and operations can be raised as needed. The products developed by the Company will require approval from the U.S. Food and Drug Administration and equivalent organizations in other countries before their sale can be authorized. If the Company is unsuccessful in obtaining adequate financing in the future, research activities will be postponed until market conditions improve.

Basis of preparation

Basis of preparation	12 Months Ended
	Dec. 31, 2023
Basis of preparation.
Basis of preparation	2. Basis of preparation Statement of Compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). Basis of Measurement and Presentation These consolidated financial statements have been prepared using the historical cost convention except for financial instruments which have been measured at fair value. These consolidated financial statements were prepared on an accrual basis except for cash flow information. ​ These consolidated financial statements incorporate the financial statements of the Company and its 100% owned subsidiary. The accounts of the Company’s subsidiary are prepared for the same reporting period as the parent company, using consistent accounting policies. Inter-company transactions, balances and unrealized gains or losses on transactions are eliminated. The Company’s subsidiary is the following: ​ ​ ​ ​ ​ ​ ​ Name Place of Incorporation Ownership XORTX Pharma Corp. Canada 100% ​ ​ These consolidated financial statements were approved for issue by the Board of Directors on April 1, 2024. Change in functional and presentation currency Determination of functional currency may involve certain judgments to determine the primary economic environment, and management reconsiders the functional currency of the Company and its subsidiary if there is a change in events and conditions which determine the primary economic environment. The Company had determined that the functional currency of the Company’s Canadian operations has changed from Canadian dollars (“CAD”) to United States dollars (“USD”) as the primary economic environment for the Company changed due to changing sources of recent and expected future sources of financing. The change in functional currency from CAD to USD is accounted for prospectively from January 1, 2023. 2. Basis of preparation (continued) Change in functional and presentation currency (continued) Concurrent with the change in functional currency, the Company has also changed its presentation currency from CAD to USD. This change in presentation currency is to better reflect the Company’s business activities, following its increased presence in the United States and to be consistent with peer companies in the industry. Under International Accounting Standards (“IAS”) 8 Accounting Policies, Changes in Accounting Estimates and Errors Prior period comparable information has been restated to reflect the change in presentation currency. All revenues and expenses were translated into USD at the average exchange rate, with no adjustments to the measurement of or accounting for previously reported results. The exchange rates used to reflect the change in presentation currency were as follows: ​ ​ ​ ​ ​ ​ CAD – USD exchange rate 2022 2021 Closing rate ​ 0.7383 ​ 0.7888 Average rate 0.7692 0.7980 ​ Foreign currency transactions are translated into the functional currency using exchange rates in effect at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate in effect at the measurement date. Non-monetary assets and liabilities denominated in foreign currencies are translated using the historical exchange rate or the exchange rate in effect at the measurement date for items recognized at fair value through profit and loss. Gains and losses arising from foreign exchange are included in profit and loss. The following is a summary of amounts restated into USD: Consolidated Statements of Financial Position ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 January 1, 2022 ​ As reported, CAD Restated, USD As reported, CAD Restated, USD Total current assets ​ $ 14,750,412 ​ $ 10,895,568 ​ $ 20,173,339 ​ $ 15,912,730 Total assets ​ $ 16,752,929 ​ $ 12,374,026 ​ $ 22,035,902 ​ $ 17,381,920 Total current liabilities ​ $ 2,050,262 ​ $ 1,511,303 ​ $ 700,999 ​ $ 552,948 Total liabilities ​ $ 7,286,499 ​ $ 5,377,215 ​ $ 5,298,331 ​ $ 4,179,323 Total shareholders’ equity ​ $ 9,466,430 ​ $ 6,996,811 ​ $ 16,737,571 ​ $ 13,202,597 ​ Consolidated Statements of Comprehensive Loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 Year ended December 31, 2021 ​ ​ As reported, CAD ​ Restated, USD ​ As reported, CAD ​ Restated, USD Loss before other items ​ $ (13,385,051) ​ $ (10,290,606) ​ $ (3,649,523) ​ $ (2,910,605) Net loss ​ $ (9,485,309) ​ $ (7,718,882) ​ $ (1,652,282) ​ $ (1,579,274) Net loss and comprehensive Loss ​ $ (9,485,309) ​ $ (7,847,027) ​ $ (1,652,282) ​ $ (1,428,810) Basic and diluted loss per common share ​ $ (6.41) ​ $ (5.22) ​ $ (1.51) ​ $ (1.44) ​ 2. Basis of preparation (continued) Change in functional and presentation currency (continued) Consolidated Statements of Cash Flows ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 Year ended December 31, 2021 ​ ​ As reported, CAD ​ Restated, USD ​ As reported, CAD ​ Restated, USD Cash used in operating activities ​ $ (11,973,226) ​ $ (8,963,557) ​ $ (6,062,510) ​ $ (4,801,045) Cash used in investing activities ​ $ (60,016) ​ $ (45,701) ​ $ (39,809) ​ $ (31,807) Cash provided by financing activities ​ $ 6,435,884 ​ $ 4,709,739 ​ $ 24,456,551 ​ $ 19,372,334 Effect of foreign exchange on cash ​ $ 871,636 ​ $ (136,147) ​ $ 325,741 ​ $ 195,863 Net (decrease) increase in cash ​ $ (4,725,722) ​ $ (4,435,665) ​ $ 18,679,973 ​ $ 14,735,345 Cash beginning of year ​ $ 18,851,244 ​ $ 14,869,861 ​ $ 171,271 ​ $ 134,516 Cash end of year ​ $ 14,125,522 ​ $ 10,434,196 ​ $ 18,851,244 ​ $ 14,869,861 ​

Material Accounting policies

Material Accounting policies	12 Months Ended
	Dec. 31, 2023
Material Accounting policies
Material Accounting policies	3. Material Accounting policies These consolidated financial statements have been prepared using the following accounting policies: Financial Instruments a) Classification The Company classifies its financial instruments in the following categories: at fair value through profit or loss (“FVTPL”), at fair value through other comprehensive income (loss) (“FVTOCI”), or at amortized cost. The Company determines the classification of financial assets at initial recognition. The classification of debt instruments is driven by the Company’s business model for managing the financial assets and their contractual cash flow characteristics. Equity instruments that are held for trading are classified as FVTPL. For other equity instruments, on the day of acquisition the Company can make an irrevocable election (on an instrument-by-instrument basis) to designate them as at FVTOCI. Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or if the Company has opted to measure them at FVTPL. The following are the Company’s financial instruments as at December 31, 2023 and 2022 and January 1, 2022: ​ ​ ​ Classification ​ ​ Cash FVTPL Accounts payable and accrued liabilities Amortized cost Derivative warrant liability FVTPL Lease obligations Amortized cost ​ ​ ​ b) Measurement Financial assets at FVTOCI Elected investments in equity instruments at FVTOCI are initially recognized at fair value plus transaction costs. Subsequently they are measured at fair value, with gains and losses recognized in other comprehensive income (loss). 3. Material Accounting policies (continued) b) Financial assets and liabilities at amortized cost Financial assets and liabilities at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost using the effective interest rate, less any impairment. Financial assets and liabilities at FVTPL Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the consolidated statements of comprehensive loss. Realized and unrealized gains and losses arising from changes in the fair value of the financial assets and liabilities held at FVTPL are included in the consolidated statements of comprehensive loss in the period in which they arise. Where management has opted to recognize a financial liability at FVTPL, any changes associated with the Company’s own credit risk will be recognized in other comprehensive loss. c) Impairment of financial assets at amortized cost The Company recognizes a loss allowance for expected credit losses on financial assets that are measured at amortized cost. At each reporting date, the Company measures the loss allowance for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset has not increased significantly since initial recognition, the Company measures the loss allowance for the financial asset at an amount equal to the twelve month expected credit losses. The Company shall recognize in the consolidated statements of comprehensive loss, as an impairment gain or loss, the amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized. d) Derecognition Financial assets The Company derecognizes financial assets only when the contractual rights to cash flows from the financial assets expire, or when it transfers the financial assets and substantially all of the associated risks and rewards of ownership to another entity. Gains and losses on derecognition are generally recognized in profit or loss. However, gains and losses on derecognition of financial assets classified as FVTOCI remain within accumulated other comprehensive income (loss). Financial liabilities The Company derecognizes financial liabilities only when its obligations under the financial liabilities are discharged, cancelled or expired. Generally, the difference between the carrying amount of the financial liability derecognized and the consideration paid and payable, including any non-cash assets, is recognized in the consolidated statements of comprehensive loss. Cash Cash includes cash on hand, held at banks, or held with investment brokers as well as short-term investments with an original maturity of 90 days or less, which are readily convertible into known amounts of cash. ​ 3. d) Equipment Equipment is recorded at cost less accumulated amortization and accumulated impairment losses. The cost of an item of equipment includes expenditures that are directly attributable to the acquisition thereof. Amortization is calculated on bases and rates designed to amortize the cost of the assets over their estimated useful lives. Amortization is recorded using the straight-line method with an expectation of the following useful life estimates: Computer equipment Leases At inception of a contract, the Company assesses whether a contract is, or contains, a lease determining whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, we assess whether: ● The contract involves the use of an identified asset; ● The Company has the right to obtain substantially all of the economic benefits from use of the identified asset throughout the period of use; and ● The Company has the right to direct the use of the identified asset. The right-of-use asset and corresponding lease obligation is recognized at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease obligation adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term or its useful life, whichever is shorter. The lease term includes periods covered by an option to extend if the Company is reasonably certain to exercise that option. In addition, the right-of-use asset is reduced by impairment losses and adjusted for certain remeasurements of the lease obligation, if any. The lease obligation is initially measured at the present value of the lease payments that are not paid at the commencement date. The lease payments are discounted using the implicit interest rate in the lease. If the rate cannot be readily determined, the Company’s incremental rate of borrowing is used. The lease obligation is subsequently measured at amortized cost using the effective interest method. The lease obligation is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in our estimate of the amount expected to be payable under a residual value guarantee, if we change our assessment of whether we will exercise a purchase, extension or termination option, or if the underlying lease contract is amended. The Company has elected not to separate fixed non-lease components from lease components and instead account for each lease component and associated fixed non-lease components as a single lease component. The Company has elected not to recognize right-of-use assets and lease obligations for short-term leases that have a lease term of 12 months or less and for leases of low value assets. The lease payments associated with those leases are recognized as an expense on a straight-line basis over the lease term. Research and development costs Research costs including clinical trial costs are expensed as incurred, net of recoveries, until a drug product receives regulatory approval. Development costs that meet specific criteria related to technical, market, and financial feasibility will be capitalized. To date, all research and development costs have been expensed. 3. Intangible assets Intangible assets are measured at cost less accumulated amortization and accumulated impairment losses. Costs incurred for patents, patents pending and licenses are capitalized and amortized from the date of capitalization on a straight-line basis over the shorter of their respective remaining estimated lives or 20 years. Government assistance Amounts received or receivable resulting from government assistance programs, including grants and investment tax credits for research and development, are recognized where there is reasonable assurance that the amount of government assistance will be received and all attached conditions will be complied with. Investment tax credits relating to qualifying scientific research and experimental development expenditures that are recoverable are recognized as a reduction of expenses. Impairment of long-lived assets Intangible assets and equipment are tested for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable. For the purpose of measuring recoverable amounts, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units or CGUs). The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use (being the present value of the expected future cash flows of the relevant asset or CGU). An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The Company evaluates impairment losses for potential reversals when events or circumstances warrant such consideration. Derivative warrant liabilities Derivative warrant liabilities issued in relation to equity offerings that fail to meet the definition of equity are classified as derivative liabilities and measured at fair value with changes in fair value recognized in profit or loss at each period end. In instances where units consisting of a common share and a warrant classified as a derivative liability are issued, the Company recognizes the unit as a compound financial instrument. In accordance with IAS 32 Financial Instruments: Presentation, when a compound instrument has been determined to contain a financial liability and an equity component, the fair value of the instrument is bifurcated by first determining the fair value of the liability, and then allocating any residual value to the equity instrument. The derivative warrants will ultimately be converted into the Company’s equity (common shares) when the warrants are exercised or will be extinguished on the expiry of the outstanding warrants and will not result in the outlay of any cash by the Company. Immediately prior to exercise, the warrants are remeasured at their intrinsic value (the intrinsic value being the share price at the date the warrant is exercised less the exercise price of the warrant), and this value is transferred to Share Capital on exercise. Any remaining fair value is recorded through profit or loss as part of the change in estimated fair value of the derivative warrant liabilities. The Company uses the Black-Scholes option pricing model to estimate fair value at each period end date. The key assumptions used in the model are described in Note 12 (g). Share-based payments The Company has a stock option plan that is described in Note 12 and grants share options to acquire common shares of the Company to directors, officers, employees, and consultants. Share-based payments to employees are measured at the fair value of the instruments granted. Share-based payments to non-employees are measured at the fair value of the goods or services received or the fair value of the equity instruments issued as calculated using the Black-Scholes option pricing model. The offset to the recorded expense is to reserves. Consideration received on the exercise of stock options is recorded as share capital and the recorded amount in reserves is transferred to share capital. 3. Share capital Common shares are classified as equity. Costs directly identifiable with share capital financing are charged against share capital. Share issuance costs incurred in advance of share subscriptions are recorded as deferred assets. Share issuance costs related to uncompleted share subscriptions are charged to operations in the period they are incurred. The Company’s common shares, pre-funded warrants, warrants (other than derivative warrants) and options are classified as equity instruments. Incremental costs directly related to the issue of new shares or options are shown in equity as a deduction from the proceeds. For equity offerings of units consisting of a common share and warrant, when both instruments are classified as equity, the Company allocates proceeds first to common shares based on the estimated fair value of the common shares at the time the units are issued, with any excess value allocated to warrants. From time to time in connection with private placements and other equity offerings, the Company issues compensatory warrants (“Finders’ Warrants”) or warrant units (“Finders’ Warrant Units”) to agents as commission for services. Awards of Finders’ Warrants and Finders’ Warrant Units are accounted for in accordance with the fair value method of accounting and result in share issue costs and a credit to reserves when Finders’ Warrants and Finders’ Warrant Units are issued. The fair value of Finders’ Warrants is measured using the Black-Scholes option pricing model and the fair value of the Finders’ Warrant Units is measured using the Geske compound option pricing model that requires the use of certain assumptions regarding the risk-free market interest rate, expected volatility in the price of the underlying stock, and expected life of the instruments. Earnings (loss) per common share Basic earnings (loss) per common share is computed by dividing the net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period and the diluted loss per share assumes that the outstanding vested stock options and share purchase warrants had been exercised at the beginning of the year. Diluted earnings per share reflect the potential dilution that could share in the earnings of an entity. In the periods where a net loss is incurred, potentially dilutive common shares are excluded from the loss per share calculation as the effect would be anti-dilutive and basic and diluted loss per common share are the same. In a profit year, the weighted average number of common shares outstanding used for the calculation of diluted earnings per share assumes that the proceeds to be received on the exercise of dilutive stock options and warrants are used to repurchase the common shares at the average price per period. Foreign currency translation The presentation and functional currency of the Company and its subsidiary is the U.S. dollar. Foreign currency transactions are translated into U.S. dollars using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange in effect as of the financial position date. Gains and losses are recognized in profit or loss on a current basis. Income taxes The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using substantively enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred income tax assets also result from unused loss carry forwards, resource related pools and other deductions. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.

Critical accounting judgments a

Critical accounting judgments and estimates	12 Months Ended
	Dec. 31, 2023
Critical accounting judgments and estimates
Critical accounting judgments and estimates	4. The preparation of consolidated financial statements requires management to make judgments and estimates that affect the amounts reported in the consolidated financial statements and notes. By their nature, these judgments and estimates are subject to change and the effect on the consolidated financial statements of changes in such judgments and estimates in future periods could be material. These judgments and estimates are based on historical experience, current and future economic conditions, and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results could differ from these judgments and estimates. Revisions to accounting estimates are recognized in the period in which the estimate is revised and may affect both the period of revision and future periods. Information about critical accounting judgments in applying accounting policies that have the most significant risk of causing material adjustment to the carrying amounts of assets and liabilities recognized in the consolidated financial statements within the next financial year are discussed below: Share-based payment transactions and warrant liabilities The Company measures the cost of equity-settled transactions with employees by reference to the fair value of the equity instruments at the date at which they are granted. Warrants liabilities are accounted for as derivative liabilities as the proceeds from exercise are either not fixed, denominated in a currency other than the functional currency, or can be settled on a net basis, and therefore do not meet the fixed for fixed criteria. Estimating fair value for share-based transactions requires determining the most appropriate valuation model, which is dependent on the terms and conditions of the instrument. This estimate also requires determining the most appropriate inputs to the valuation model including the expected life of the share option or warrant, volatility and dividend yield and making assumptions about them. Classification of contract payments In concluding that contract payments are a non-current asset, management considered when future regulatory and clinical trial programs are anticipated to be completed. Management assessed that the future regulatory and clinical trial programs would not be completed within 12 months from period end and therefore classified contract payments as a non-current asset. Impairment of intangible assets Patents (obtained and pending) and licenses are reviewed for impairment at each financial reporting date. If, in the judgment of management, future economic benefits will not flow to the Company, then the Company will assess the recoverable value of the asset. If the carrying value is greater than the recoverable value, the asset will be impaired to the recoverable value. Determination of functional currency In concluding that the U.S. dollar is the functional currency of the Company and its subsidiary, management considered the currency that mainly influences the cost of providing goods and services in the primary economic environment in which each entity operates and the currency in which funds from financing are generated, or if there has been a change in events or conditions that determined the primary economic environment. 4. Treatment of research and development costs Costs to develop products are capitalized to the extent that the criteria for recognition as intangible assets in IAS 38 Intangible Assets are met. Those criteria require that the product is technically and economically feasible, the Company has the intention and ability to use the asset, and how the asset will generate future benefits. Management assessed the capitalization of development costs based on the attributes of the development project, perceived user needs, industry trends and expected future economic conditions. Management considers these factors in aggregate and applies significant judgment to determine whether the product is feasible. The Company has not capitalized any development costs as at December 31, 2023. Leases Value of right-of-use assets and lease obligations require judgement in determining lease terms such as extension options, determining whether a lease contract contains an identified asset to which the Company has the right to use substantially all of the economic benefits from the use of that asset and the incremental borrowing rate applied. The Company estimates the incremental borrowing rate based on the lease term, collateral assumptions and the economic environment in which the lease is denominated. Renewal options are only included if management is reasonably certain that the option will be renewed. Classification of pre-funded warrants Management applied judgment when determining the appropriate classification of pre-funded warrants included in unit offerings. Management considered the characteristics of derivative instruments and concluded that the pre-funded warrants should be classified as an equity instrument. Current and deferred taxes The measurement of income taxes payable and deferred income tax assets and liabilities requires management to make judgments in the interpretation and application of the relevant tax laws. Such differences may result in eventual tax payments differing from amounts accrued. Reported amounts for deferred tax assets and liabilities are based on management’s expectation for the timing and amounts of future taxable income or loss, as well as future taxation rates. Changes to these underlying estimates may result in changes to the carrying value, if any, of deferred income tax assets and liabilities.

Cash

Cash	12 Months Ended
	Dec. 31, 2023
Cash.
Cash	5. The Company’s cash consists of cash held and interest-bearing deposits with the Company’s bank and brokerage accounts. The current annual interest rate earned on these deposits is 5.15% (2022 – 3.90%). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ January 1, ​ ​ 2023 ​ 2022 ​ 2022 ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ Cash ​ 94,999 ​ 3,823,217 ​ 14,869,861 ​ Interest-bearing deposits ​ 3,352,666 ​ 6,610,979 ​ — ​ ​ ​ 3,447,665 ​ 10,434,196 ​ 14,869,861 ​ ​

Prepaid expenses

Prepaid expenses	12 Months Ended
	Dec. 31, 2023
Prepaid expenses.
Prepaid expenses	6. The Company’s prepaid expenses relate to the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ January 1, ​ 2023 ​ 2022 2022 ​ ​ $ ​ $ ​ $ ​ ​ ​ ​ ​ ​ ​ Research and development — ​ — 563,768 Insurance 204,302 ​ 238,365 348,167 Investor relations conferences and services 25,309 ​ 66,305 49,715 Consulting — ​ 12,305 39,440 Administrative services and other 7,355 ​ 62,645 1,125 ​ 236,966 ​ 379,620 1,002,215 ​

Contract payments

Contract payments	12 Months Ended
	Dec. 31, 2023
Contract payments.
Contract payments	7. During the year ended December 31, 2020, the Company entered into an agreement with Prevail InfoWorks Inc. As part of the agreement, the Company paid $1,200,000 through the issuance of units in the private placement that closed February 28, 2020, to be applied to future regulatory and clinical trial programs. The 108,590 units issued were measured by reference to their fair value on the issuance date, which is equal to CAD $14.76 per unit.

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2023
Intangible assets.
Intangible assets	8. ​ ​ ​ ​ Cost Total ​ ​ $ Balance, December 31, 2021 287,905 Additions 26,005 Foreign currency translation adjustment (19,159) Balance, December 31, 2022 294,751 Additions ​ 42,052 Balance, December 31, 2023 336,803 ​ ​ ​ ​ Accumulated amortization Total ​ ​ $ Balance, December 31, 2021 85,780 Amortization 17,077 Foreign currency translation adjustment (7,940) Balance, December 31, 2022 ​ 94,917 Amortization 66,632 Balance, December 31, 2023 161,549 ​ ​ ​ ​ Carrying values Total ​ ​ $ At January 1, 2022 ​ 202,125 At December 31, 2022 ​ 199,834 At December 31, 2023 ​ 175,254 ​ 8. The Company has licensed intellectual property from various third parties. The intangible assets relate solely to licensed intellectual property and there are no other classes of intangible assets. The intangible assets are as described below: a) The Company has licensed from a third party (the “ Licensor ” ), under patent rights purchase agreement dated July 9, 2013 and amended April 15, 2014, certain patents relating to allopurinol for the treatment of hypertension. The Company paid a total of $40,000 to the Licensor per the terms of the agreement. The Company will also pay the Licensor royalties on the cumulative net revenues from the sale or sublicense of the product covered under the patent license until the later of (i) the expiration of the last patent right covering the product; and (ii) the expiration of ten years from the date of the first commercial sales of a product. As of December 31, 2023, no royalties have been paid. b) In December 2012, the Company entered into an agreement to license certain intellectual property relating to the use of all uric acid lowering agents to improve the treatment of metabolic syndrome. Under this patent rights purchase agreement, between the Company and Dr. Richard Johnson and Dr. Takahiko Nakagawa (the “ Vendors ” ), the Company will pay the Vendors a royalty based on the cumulative net revenues from the sale or sublicense of the product covered under the licensed intellectual property until the later of (i) the expiration of the last patent right covering the product; and (ii) the expiration of 10 years from the date of the first commercial sales of a product. c) Pursuant to a license agreement dated October 9, 2012 as amended on June 23, 2014, between the Company and the University of Florida Research Foundation, Inc. ( “ UFRF ” ), the Company acquired the exclusive license to a patent that claims the use of any uric acid lowering agent to treat insulin resistance. The Company has paid or is obligated to pay UFRF the following: i) An annual license fee of $1,000 ; ii) Reimburse UFRF for United States and/or foreign costs associated with the maintenance of the licensed patents; iii) The issuance to UFRF of 180,397 shares of common stock of the Company ( 160,783 have been issued to UFRF as at December 31, 2023 and 2022. Remaining shares to be issued are included in obligation to issue shares ( $24,746 )); iv) Milestone payments of $500,000 upon receipt of FDA approval to market licensed product in the United States of America and $100,000 upon receipt of regulatory approval to market each licensed product in each of other jurisdictions; v) Royalty payments of up to 1.5% of net sales of products covered by the license until the later of (i) the expiration of any patent claims; or (ii) 10 years from the date of the first commercial sale of any covered product in each country. Following commencement of commercial sales, the Company will be subject to certain annual minimum royalty payments that will increase annually to a maximum of $100,000 per year. As at December 31, 2023, no royalties have been paid; and vi) UFRF is entitled to receive a royalty of 5% of amounts received from any sub-licensee that are not based directly on product sales, excluding payments received for research and development or purchases of the Company ’ s securities at not less than fair market value. No royalties have been paid to date. UFRF may terminate the agreement if the Company fails to meet the above specified milestones.

Property and equipment

Property and equipment	12 Months Ended
	Dec. 31, 2023
Property and equipment
Property and equipment	9. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use ​ ​ ​ ​ Cost asset ​ Equipment ​ Total ​ ​ $ ​ $ ​ $ Balance, December 31, 2021 — ​ — ​ — Additions ​ 114,588 ​ 19,696 ​ 134,284 Foreign currency translation adjustment ​ — ​ (663) ​ (663) Balance, December 31, 2022 ​ 114,588 ​ 19,033 ​ 133,621 Additions — ​ 4,311 ​ 4,311 Balance, December 31, 2023 114,588 ​ 23,344 ​ 137,932 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use ​ ​ ​ ​ Accumulated amortization asset ​ Equipment ​ Total ​ ​ $ ​ $ ​ $ Balance, December 31, 2021 — ​ — ​ — Amortization ​ 38,195 ​ 2,874 ​ 41,069 Foreign currency translation adjustment ​ — ​ (126) ​ (126) Balance, December 31, 2022 ​ 38,195 ​ 2,748 ​ 40,943 Amortization 65,480 ​ 7,582 ​ 73,062 Balance, December 31, 2023 103,675 ​ 10,330 ​ 114,005 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use ​ ​ ​ ​ Carrying values asset ​ Equipment ​ Total ​ ​ $ ​ $ ​ $ At December 31, 2022 ​ 76,393 ​ 16,285 ​ 92,678 At December 31, 2023 ​ 10,913 ​ 13,014 ​ 23,927 ​ The Company entered into an office lease during the year ended December 31, 2022 for which a right-of-use asset was recognized (Note 11).

Accounts payable and accrued li

Accounts payable and accrued liabilities	12 Months Ended
	Dec. 31, 2023
Accounts payable and accrued liabilities.
Accounts payable and accrued liabilities	10. ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ January 1, ​ 2023 2022 ​ 2022 ​ ​ $ ​ $ ​ $ Trade payables 195,814 1,293,807 ​ 323,961 Accrued liabilities 87,614 151,406 ​ 228,987 Total 283,428 1,445,213 ​ 552,948 ​

Lease obligation

Lease obligation	12 Months Ended
	Dec. 31, 2023
Lease obligation
Lease obligation	11. The Company has entered into an office lease expiring in 2024, with an imputed interest rate of 8% per annum. A reconciliation of the outstanding lease obligation as at December 31, 2023 is as follows: ​ ​ ​ ​ ​ $ Balance, December 31, 2021 ​ — Additions ​ 114,588 Lease payments ​ (36,989) Balance, December 31, 2022 ​ 77,599 Lease payments ​ (66,089) Balance, December 31, 2023 ​ 11,510 ​ The following is a schedule of the Company’s future minimum lease payments related to the office lease obligation: ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ $ ​ $ 2023 ​ — ​ 69,769 2024 ​ 11,628 ​ 11,628 Total minimum lease payments ​ 11,628 ​ 81,397 Less: imputed interest ​ (118) ​ (3,798) Total present value of minimum lease payments ​ 11,510 ​ 77,599 Less: current portion ​ (11,510) ​ (66,090) Non-current portion ​ — ​ 11,509 ​

Share capital and reserves

Share capital and reserves	12 Months Ended
	Dec. 31, 2023
Share capital and reserves
Share capital and reserves	12. a) Unlimited common shares – 1,998,848 issued at December 31, 2023 (2022 – 1,670,071, 2021 – 1,443,293). On November 10, 2023, the shares of the Company were consolidated on a 9:1 basis. Common shares, options, warrants and per share amounts have been adjusted for the 9:1 share consolidation unless otherwise noted. b) Year ended December 31, 2023: On January 19, 2023, the Company issued 328,777 common shares for the exercise of pre-funded warrants at $0.0009 per share in the amount of $296. An amount of $531,885 was transferred from reserves to share capital as a result. Year ended December 31, 2022: On October 7, 2022, the Company closed a public offering of: (i) 155,555 common share units (“Common Share Units”) at a price of $9.00 per Common Share Unit, with each Common Share Unit consisting of one common share and one warrant (“Warrant”) to purchase one common share; and (ii) 400,000 pre-funded warrant units (“Pre-Funded Units”) at a price of $8.9991 per Pre-Funded Unit, with each Pre-Funded Unit consisting of one pre-funded warrant (“Pre-Funded Warrant”) to purchase one common share and one Warrant to purchase one common share. Aggregate gross proceeds amounted to $4,999,640. The Pre-Funded Warrants have an exercise price of $0.0009 per share, and will terminate once exercised in full. The Warrants are exercisable at an exercise price of $10.98 per share expiring five years from the date of issuance. The proceeds were allocated $3,714,757 to the derivative warrant liability (Note 12(g)) and the residual amounts of $359,868 and $925,015 were allocated to common shares and pre-funded warrants respectively. In connection with the public offering, the Company incurred issuance costs of $1,067,153 and issued 27,777 underwriters warrants with a fair value of $185,738. The costs were allocated between common shares and derivative warrant liability in proportion to their initial carrying amounts with $317,301 recorded as a reduction of equity and $917,357 recorded as transaction costs on derivative warrant liability and pre-funded warrants. On December 29, 2022, the Company issued 71,223 common shares for the exercise of Pre-Funded Warrants at $0.0009 per share in the amount of $64. An amount of $164,704 was transferred from reserves to share capital as a result. Year ended December 31, 2021: On February 9, 2021, the Company closed a private placement with the issuance of 231,743 units at a subscription price of CAD $26.415 per unit for gross proceeds of $4,785,935. Each unit comprised one common share and one common share purchase warrant. Each warrant entitles the holder, on exercise, to purchase one additional common share in the capital of the Company, at a price of CAD $42.30 for a period of five years from the issuance of the units, provided; however, that, if, at any time following the expiry of the statutory four month The proceeds were allocated $4,212,000 to the derivative warrant liability (Note 12(g)) and the residual $573,935 was allocated to common shares. 12. b) Year ended December 31, 2021 (continued): In connection with the private placement, the Company paid $135,158 in cash commissions, incurred additional issuance costs of $6,229 and issued 6,476 finders’ warrants with a fair value of $150,000 (Note 12(e)). Each finders’ warrant is exercisable into one common share at a price of CAD $42.30 and having the same expiry, acceleration and anti-dilution provisions as the warrants included in the private placement. The costs were allocated between common shares and derivative warrant liability in proportion to their initial carrying amounts with $32,394 recorded as a reduction of equity and $227,132 recorded as transaction costs on derivative warrant liability. On October 15, 2021, the Company listed its common shares on the Nasdaq Stock Market (“Nasdaq”) under the symbol “XRTX” and closed an underwritten public offering of 322,888 units (the “US IPO Offering”), with each unit consisting of one common share, no par value, and one warrant to purchase one common share at a public offering price of $37.17 per Unit, for gross proceeds of $12,001,780. The proceeds were allocated $5,998,000 to the derivative warrant liability (Note 12(g)) and the residual $7,467,772 was allocated to common shares. The warrants have an initial exercise price of $42.93 per share and have a term of five years. In addition, the Company granted the underwriters a 45-day option to purchase up to an additional 48,433 common shares and/or warrants to purchase up to an additional 48,433 common shares at the US IPO Offering price less the underwriting discounts. On October 15, 2021, the underwriter exercised its option to purchase additional warrants to purchase up to an additional 48,433 common shares. On November 8, 2021, the underwriter partially exercised its 45-day option for 39,444 common shares at $37.17 per share, resulting in additional gross proceeds to the Company of $1,466,150 which increased the US IPO Offering to 362,333 common shares and 371,322 warrants. In connection with the US IPO Offering, the Company incurred issuance costs of $1,814,673 and issued 16,144 finders’ warrants with a fair value of $292,842. The costs were allocated between common shares and derivative warrant liability in proportion to their initial carrying amounts with $1,104,238 recorded as a reduction of equity and $1,003,277 recorded as transaction costs on derivative warrant liability. The Company issued 5,678 common shares for the exercise of options in the amount of $66,502. A value of $51,783 was transferred from reserves to share capital as a result. The Company issued 72,398 common shares for the exercise of warrants in the amount of $2,273,043. A value of $23,566 was transferred from reserves to share capital and a value of $440,669 was transferred from the derivative warrant liability to share capital as a result. Pursuant to the terms of a consulting agreement, the Company issued 2,839 common shares with a fair value of $59,092 in exchange for services. ​ 12. c) Diluted Weighted Average Number of Shares Outstanding ​ ​ ​ ​ ​ ​ ​ Year ended ​ December 31, December 31, ​ ​ 2023 ​ 2022 Basic weighted average shares outstanding ​ 1,981,734 1,479,914 Effect of outstanding securities ​ — — Diluted weighted average shares outstanding ​ 1,981,734 1,479,914 ​ During the years ended December 31, 2023, 2022 and 2021, the Company had a net loss; as such, the diluted loss per share calculation excludes any potential conversion of options and warrants that would decrease loss per share. d) A summary of the changes in warrants for the years ended December 31, 2023 and 2022 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number of ​ Average ​ Warrants Exercise price Balance, December 31, 2021 ​ 569,655 ​ $ 33.10 Granted – October 7, 2022 555,555 ​ ​ 10.98 Balance, December 31, 2023 and 2022 1,125,210 ​ $ 22.31 At December 31, 2023, the weighted average contractual remaining life of the unexercised warrants was 3.15 (2022 - 4.15) years. The following table summarizes information on warrants outstanding at December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ Number ​ ​ ​ Contractual Exercise Price Outstanding Expiry date Life CAD$42.26 ​ 198,333 ​ February 9, 2026 ​ 2.11 years $42.93 ​ 270,211 ​ October 15, 2026 ​ 2.79 years $10.53 101,111 ​ October 15, 2026 2.79 years $10.98 ​ 555,555 ​ October 7, 2027 ​ 3.77 years Total 1,125,210 ​ ​ 3.15 years ​ e) A summary of the changes in Pre-Funded Warrants for the years ended December 31, 2023 and 2022 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number of ​ ​ Average ​ Warrants ​ Exercise price Balance, December 31, 2021 ​ - ​ ​ — Granted – October 7, 2022 400,000 $ 0.0009 Exercised (71,223) $ 0.0009 Balance, December 31, 2022 ​ 328,777 ​ $ 0.0009 Exercised ​ (328,777) ​ $ 0.0009 Balance, December 31, 2023 - ​ — ​ 12. f) A summary of the changes in finders’ and underwriters warrants for the years ended December 31, 2023 and 2022 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number of ​ Average ​ Warrants Exercise price Balance, December 31, 2021 ​ 22,521 ​ $ 39.61 Granted – October 7, 2022 ​ 27,777 ​ ​ 10.98 Balance, December 31, 2023 and 2022 50,298 ​ $ 23.89 ​ At December 31, 2023, the weighted average contractual remaining life of the unexercised finders’ and underwriters warrant was 3.25 (2022 – 4.25) years. The following table summarizes information on finders’ and underwriters warrants outstanding at December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ Number ​ ​ ​ Contractual Exercise Price ​ Outstanding ​ Expiry date ​ Life CAD$42.30 ​ 6,377 ​ February 9, 2026 ​ 2.11 years $42.93 ​ 16,144 ​ October 15, 2026 ​ 2.79 years $10.98 ​ 27,777 ​ October 7, 2027 ​ 3.77 years Total ​ 50,298 ​ ​ ​ 3.25 years ​ The fair value of the underwriters warrants issued on October 7, 2022 was estimated at $185,738 on the date of grant using the Black-Scholes option pricing model with the following assumptions: expected life of 5.0 years; expected volatility of 100%; risk free rate of 3.66%; and expected dividend yield of 0%. The risk-free interest rate is the yield on zero-coupon Canadian Treasury Bills of a term consistent with the assumed option life. The expected life of the option is the average expected period to exercise. Volatility is based on available historical volatility of the Company’s share price, excluding specific time frames in which volatility was affected by specific transactions that are not considered to be indicative of the Company’s expected share price volatility. The Company has not declared dividends in the past. ​ 12. g) The Company has an incentive Stock Option Plan (the “Plan”) for directors, officers, employees, and consultants, under which the Company may issue stock options to purchase common shares of the Company provided that the amount of incentive stock options which may be granted and outstanding under the Plan at any time shall not exceed 10% of the then issued and outstanding common shares of the Company. The fair value of stock options granted was estimated on the date of grant using the Black-Scholes option pricing model with the following data and assumptions: ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Dividend yield Nil Nil ​ Annualized volatility 100 % 100 % Risk-free interest rate 3.25 % 1.44%-3.32 % Expected life 5 years 5 years ​ ​ The risk-free interest rate is the yield on zero-coupon Canadian Treasury Bills of a term consistent with the assumed option life. The expected life of the option is the average expected period to exercise. Volatility is based on available historical volatility of the Company’s share price, excluding specific time frames in which volatility was affected by specific transactions that are not considered to be indicative of the Company’s expected share price volatility. The Company has not declared dividends in the past. Share-based payment expense recognized was $120,984 during the year ended December 31, 2023 (2022 - $487,940; 2021 - $396,423). Compensation during 2023 related to vesting of options issued in prior years. A summary of the changes in stock options for the years ended December 31, 2023 and 2022 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number of ​ Average ​ Options Exercise price (CAD) Balance, December 31, 2021 ​ 67,332 ​ $ 27.89 Granted – January 12, 2022 ​ 14,162 ​ ​ 22.86 Granted – June 6, 2022 ​ 43,866 ​ ​ 14.40 Granted – November 25, 2022 7,776 ​ ​ 12.42 Expired (4,896) ​ ​ 28.67 Balance, December 31, 2022 128,240 ​ $ 21.75 Granted – December 31, 2023 8,000 ​ ​ 2.90 Expired (32,318) ​ ​ 33.65 Balance, December 31, 2023 103,922 ​ $ 16.60 Vested and exercisable, December 31, 2023 89,872 ​ $ 16.54 ​ ​ 12. g) Stock Options (continued) The weighted average contractual remaining life of the unexercised options was 3.04 (2022 - 3.43) years. The following table summarizes information on stock options outstanding at December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number Number ​ ​ Remaining Exercise Price (CAD) Outstanding Exercisable Expiry Date Contractual Life $14.76 ​ 14,669 ​ 14,669 ​ June 23, 2025 ​ 1.48 years $25.38 ​ 1,419 ​ 1,419 ​ August 27, 2025 ​ 1.66 years $29.61 ​ 6,624 ​ 6,624 ​ January 11, 2026 ​ 2.03 years $16.92 2,366 2,366 ​ May 12, 2026 2.36 years $21.69 4,732 3,811 ​ July 14, 2026 2.54 years $22.86 8,085 8,085 ​ December 21, 2026 2.98 years $22.86 11,940 7,628 ​ January 12, 2027 3.04 years $14.40 40,533 35,265 ​ June 6, 2027 3.43 years $12.42 5,554 2,005 ​ November 25, 2027 3.90 years $2.90 8,000 8,000 ​ December 31, 2028 5.00 years ​ 103,922 89,872 ​ ​ ​ ​ ​ h) During the years ended December 31, 2022 and 2021, the Company issued warrants which were recorded as derivative financial liabilities as the exercise price was denominated in a currency other than the functional currency of the Company and in certain situations allow the holder to exercise the warrants on a cashless basis and therefore may be settled other than by the exchange of a fixed amount of cash. Under the cashless exercise option, the holders of these warrants may elect to settle the warrants on a cashless basis if the common shares are not subject to an effective registration statement at the time the holder wishes to exercise them. A contract that may be settled by a single net payment (generally referred to as net cash settled or net equity settled) is a financial liability and not an equity instrument. These warrants are revalued at each reporting period and any gain or loss is recorded in profit or loss. The fair value of the warrants issued during the year ended December 31,2022 was estimated at $3,714,757 on the date of grant using the Black-Scholes option pricing model with the following assumptions: share price on date of grant of $9.09; exercise price of the warrant of $10.98; expected life of 5.0 years; expected volatility of 100%; risk free rate of 3.66%; and expected dividend yield of 0%. Effective January 1, 2023, with the change in functional currency of the Company to USD, the exercise price of warrants previously denominated in Canadian Dollars is now denominated in a currency different than the functional currency of the Company and therefore these warrants now meet the definition of a derivative warrant liability. Accordingly, all Canadian Dollar denominated warrants recorded as equity instruments on January 1, 2023, were reclassified to derivative financial liabilities at their estimated fair value as of that date. 12. h) The balance of the derivative warrant liabilities (level 3) is as follows: ​ ​ ​ ​ ​ Balance at December 31, 2020 $ — Warrants issued February 9, 2021 ​ 4,212,000 Warrants exercised ​ (335,950) Fair value reclassified to reserves ​ (3,506,565) Warrants issued October 15, 2021 ​ 5,998,000 Fair value adjustment ​ (2,636,391) Foreign currency translation adjustment ​ ​ (104,719) Balance at December 31, 2021 ​ $ 3,626,375 Warrants issued October 7, 2022 ​ ​ 3,714,757 Fair value adjustment ​ ​ (3,396,137) Foreign currency translation adjustment ​ ​ (90,592) Balance at December 31, 2022 ​ $ 3,854,403 Reclassified from reserves ​ 318,000 Fair value adjustment ​ (3,641,403) Balance at December 31, 2023 ​ $ 531,000 ​ Significant weighted average assumptions used in determining the fair value of the derivative warrant liabilities at December 31, 2023 and December 31, 2022 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ 2021 ​ Share price ​ $ 2.31 ​ $ 7.29 ​ $ 18.45 Risk-free interest rate ​ 3.25% - 3.91 % ​ 3.55 % ​ 1.23 % Dividend yield ​ 0 % ​ 0 % ​ 0 % Expected volatility ​ 100 % ​ 100 % ​ 100 % Remaining term (in years) ​ 2.1 - 3.8 ​ 3.8 - 4.8 ​ ​ 4.8 ​ ​ The fair value is classified as level 3 as expected volatility is determined using historical volatility and is therefore not an observable input. i) The shares outstanding presented have been adjusted to reflect the effect of the 9:1 share consolidation that took place on November 10, 2023. Common shares, options, and warrants and per share amounts have been adjusted for the 9:1 share consolidation unless otherwise noted. As required by IAS 33, Earnings per Share

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2023
Related party transactions
Related party transactions	13. All related party transactions were measured at fair value. All amounts due from/payable to related parties are unsecured, non-interest bearing and have no fixed terms of repayment. During the year ended December 31, 2023, the Company incurred the following transactions with related parties: a) Wages and benefits and professional fees were paid or accrued to Allen Davidoff, the Chief Executive Officer ( “ CEO ” ), Amar Keshri, former Chief Financial Officer ( “ CFO ” ), and David MacDonald, former Chief Technology Officer ( “ CTO ” ) in the amount of $417,810 (2022 - $593,116 ; 2021 - $264,178 ). 13. b) Fees were paid or accrued to 1282803 Ontario Inc., a company owned by James Fairbairn, the Chief Financial Officer ( “ CFO “ )of the Company in the amount $76,201 (2022 - $nil ; 2021 - $46,962 ) c) Research and development fees were paid or accrued to Haworth Biopharmaceutical, a company owned by Stephen Haworth, the Chief Medical Officer ( “ CMO ” ) of the Company in the amount of $200,229 (2022 - $238,813 ; 2021 - $84,416 ). d) Consulting fees were paid or accrued to Stacy Evans, the Chief Business Officer ( “ CBO ” ) of the Company in the amount of $280,000 (2022 - $44,946 ; 2021 - $ nil ). e) Consulting fees were paid to Bruce Rowlands and Allan Williams, former directors of the Company in the amount of $ nil (2022 - $nil ; 2021 - $44,179 ). f) Consulting fees were paid to a private entity controlled by the spouse of the Company ’ s CEO in the amount of $nil (2022 - $3,512 ; 2021 - $ nil ). g) Directors ’ fees were paid or accrued to the directors of the Company in the amount of $182,675 (2022 - $127,053 ; 2021 - $33,492 ). The amount includes director fees payment of $133,967 for the year ended December 31, 2023 (2022 - $68,617 ; 2021 - $ nil ) to Anthony Giovinazzo, Chairman of the Company. h) As at December 31, 2023, $6,805 (2022 - $14,914 ) was payable to directors of the Company, $nil (2022 - $28,846 ) was accrued to the CEO of the Company for CEO services, $nil (2022 - $10,904 ) was accrued to the former CFO of the Company for CFO services, $14,631 (2022 - $nil ) was accrued to the CFO of the Company for CFO services, $8,000 (2022 - $50,000 ) was payable and accrued to the CMO of the Company for consulting services, and $15,000 (2022 - $25,000 ) was payable and accrued to the CBO of the Company for consulting services. The balances are unsecured, non-interest bearing, and have no fixed terms of repayment. i) Management and directors ’ compensation transactions for the years ended December 31, 2023, 2022 and 2021 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Management ​ Share-based ​ ​ Compensation ​ Directors’ fees ​ payments ​ Total ​ ​ $ ​ $ ​ $ ​ $ Year ended December 31, 2021 ​ ​ ​ ​ Directors and officers ​ 442,932 ​ 51,820 ​ 276,436 ​ 771,188 ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 ​ ​ ​ ​ Directors and officers 880,387 127,053 404,573 1,412,013 ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2023 ​ ​ ​ ​ Directors and officers 974,240 182,675 77,779 1,234,694 ​

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2023
Income taxes
Income taxes	14. The income taxes shown in the consolidated statements of comprehensive loss differ from the amounts obtained by applying statutory rates to the loss before income taxes due to the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 ​ ​ $ ​ $ ​ $ ​ Net loss for the year (2,158,000) (7,718,000) (1,579,000) ​ Statutory tax rate 27 % 27 % 27 % Expected income tax recovery (583,000) (2,084,000) (426,000) ​ Decrease to income tax recovery due to: ​ ​ ​ ​ Non-deductible permanent differences 45,000 131,000 108,000 ​ Temporary differences (25,000) 276,000 447,000 ​ (Over) under provided in prior years (559,000) (552,000) — ​ Change in tax assets not recognized 1,122,000 2,229,000 (129,000) ​ Income tax recovery — — — ​ ​ The significant components of the Company’s deferred tax assets are as follows: ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 ​ ​ $ ​ $ Share issuance costs 229,000 485,000 Cumulative eligible capital 117,000 90,000 Operating losses carried forward 4,819,000 4,343,000 Total deferred tax assets 5,165,000 4,918,000 Deferred tax assets not recognized (5,165,000) (4,918,000) ​ — — ​ The realization of income tax benefits related to these deferred potential tax deductions is not probable. Accordingly, no deferred income tax assets have been recognized for accounting purposes. The Company has Canadian non-capital losses carried forward of approximately CAD $21,561,000 that may be available for tax purposes. The losses expire as follows: ​ ​ ​ ​ Expiry date $ 2032 ​ 44,000 2033 ​ 748,000 2034 ​ 325,000 2035 ​ 286,000 2036 ​ 365,000 2037 ​ 618,000 2038 ​ 1,089,000 2039 ​ 554,000 2040 ​ 1,116,000 2041 ​ 3,648,000 2042 ​ 9,634,000 2043 ​ 3,134,000 Total ​ 21,561,000 ​

Financial instruments and risk

Financial instruments and risk management	12 Months Ended
	Dec. 31, 2023
Financial instruments and risk management
Financial instruments and risk management	15. The Company’s financial instruments consist of cash, accounts payable and accrued liabilities, lease obligation, and derivative warrant liability. The fair values of cash and accounts payable and accrued liabilities approximate their carrying values at December 31, 2023, due to their short-term nature. The lease liability is classified as level 2 in the fair value hierarchy as the fair value is determined based on market interest rates. 15. Financial instruments and risk management (continued) The following table presents the Company’s financial instruments, measured at fair value on the consolidated statements of financial position as at December 31, 2023 and 2022, and categorized into levels of the fair value hierarchy: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 December 31, 2022 ​ ​ ​ ​ Carrying ​ Estimated ​ Carrying ​ Estimated ​ Level Value Fair Value Value Fair Value FVTPL ​ ​ $ ​ $ ​ $ ​ $ Cash 1 3,447,665 3,447,665 10,434,196 10,434,196 Financial liabilities at amortized cost ​ ​ ​ ​ ​ Accounts payable and accrued liabilities 1 283,428 283,428 1,445,213 1,445,213 Lease liability 2 11,510 11,510 77,599 77,599 FVTPL ​ ​ ​ ​ ​ Derivative warrant liability 3 531,000 531,000 3,854,403 3,854,403 ​ There were no transfers for levels of change in the fair value measurements of financial instruments for the years ended December 31, 2023 and 2022. Risk management is carried out by the Company’s management team with guidance from the Board of Directors. The Company’s risk exposures and their impact on the Company’s financial instruments were as follows: a) Credit risk is the risk of financial loss to the Company if a customer of counterparty to a financial instrument fails to meet its obligations. The Company’s maximum exposure to credit risk at the financial position date under its financial instruments is summarized as follows: ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 ​ ​ $ ​ $ ​ ​ ​ ​ ​ Cash 3,447,665 10,434,196 ​ All of the Company’s cash is held with major financial institutions in Canada and management believes the exposure to credit risk with such institutions is minimal. The Company considers the risk of material loss to be significantly mitigated due to the financial strength of the major financial institutions where cash is held. The Company has no exposure to the ongoing banking crisis. The Company’s maximum exposure to credit risk as at December 31, 2023 and 2022 is the carrying value of its financial assets. b) Liquidity risk is the risk that the Company will not be able to meet its obligations associated with financial liabilities. The Company has a planning and budgeting process in place by which it anticipates and determines the funds required to support normal operation requirements as well as the growth and development of its intellectual property portfolio. The Company’s financial assets are comprised of its cash, and the financial liabilities are comprised of its accounts payable and accrued liabilities, lease liability and derivative warrant liability. The contractual maturities of these financial liabilities as at December 31, 2023 and 2022 are summarized below: ​ 15. Financial instruments and risk management (continued) b) Liquidity risk (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payments due by period as of December 31, 2023 ​ ​ ​ ​ ​ ​ Between 3 ​ ​ ​ ​ ​ ​ Less than ​ months and ​ ​ ​ Total 3 months 1 year 1-3 years ​ ​ $ ​ $ ​ $ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued liabilities 283,428 283,428 — — Lease liability 11,510 11,510 — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 294,938 294,938 — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payments due by period as of December 31, 2022 ​ ​ ​ ​ ​ ​ Between 3 ​ ​ ​ ​ ​ ​ Less than ​ months and ​ ​ ​ Total 3 months 1 year 1-3 years ​ ​ $ ​ $ ​ $ ​ $ Accounts payable and accrued liabilities 1,445,213 1,445,213 — — Lease liability ​ 77,599 ​ 16,064 ​ 50,026 ​ 11,509 ​ 1,522,812 1,461,277 50,026 11,509 ​ c) i) Interest Rate Risk Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate due to changes in market interest rates. The Company’s bank accounts bear interest. Management believes that the credit risk concentration with respect to financial instruments included in cash is minimal. ii) Foreign Currency Risk As at December 31, 2023, the Company is exposed to currency risk on the following financial assets and liabilities denominated in CAD Dollars (“CAD”), British Pounds (“GBP”), and European Euro (“EUR”). The sensitivity of the Company’s net earnings due to changes in the exchange rate between the CAD, GBP and EUR against the U.S.dollar is included in the table below in U.S. dollar equivalents: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CAD GBP amount EUR Total ​ ​ $ ​ $ ​ $ ​ $ Cash ​ 36,627 — — 36,627 Accounts payable and accrued liabilities ​ (173,068) — — (173,068) Net exposure ​ (136,441) — — (136,441) ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect of +/- 10% change in currency ​ (13,644) — — — ​ The Company thoroughly examines the various financial instruments and risks to which it is exposed and assesses the impact and likelihood of those risks. These risks include foreign currency risk, interest rate risk, market risk, credit risk, and liquidity risk. Where material, these risks are reviewed and monitored by the Board of Directors There have been no changes in any risk management policies since December 31, 2023.

Capital management

Capital management	12 Months Ended
	Dec. 31, 2023
Capital management
Capital management	16. The Company defines capital that it manages as shareholders’ equity. The Company manages its capital structure in order to have funds available to support its research and development and sustain the future development of the business. When managing capital, the Company’s objective is to ensure the entity continues as a going concern as well as to maintain optimal returns to shareholders and benefits for other stakeholders. Management adjusts the capital structure as necessary in order to support its activities. Since inception, the Company’s objective in managing capital is to ensure sufficient liquidity to finance its research and development activities, general and administrative expenses, expenses associated with intellectual property protection, and its overall capital expenditures. There were no changes during the year ended December 31, 2023. The Company is not exposed to external requirements by regulatory agencies regarding its capital.

Commitments

Commitments	12 Months Ended
	Dec. 31, 2023
Commitments
Commitments	17. The Company has long-term arrangements with commitments that are not recognized as liabilities as at December 31, 2023 and December 31, 2022 are as follows: a) Employment Agreements ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 ​ ​ $ ​ $ Management services – officers 321,000 441,754 1 1 ​ The President, CEO, and a director of the Company has a long-term employment agreement with the Company. The agreement has a termination clause whereby he is entitled to the equivalent of 12 times his then current monthly salary which, as of December 31, 2023 and 2022, equated to an annual salary of $321,000 and $300,000 respectively. b) Payments In the normal course of business, the Company has committed to payments totaling $446,000 (December 31,2022 - $1,994,232) for activities related to its clinical trial, manufacturing, collaboration programs, and other regular business activities which are expected to occur over the next two years.

Segmented information

Segmented information	12 Months Ended
	Dec. 31, 2023
Segmented information
Segmented information	18. The Company operates in one reportable operating segment, being the development and commercialization of therapies to treat progressive kidney disease. As the operations comprise a single reporting segment, amounts disclosed also represent segment amounts. All long-term assets of the Company are located in Canada.

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2023
Subsequent events
Subsequent events	19. On February 15 and March 4, 2024, the Company closed two tranches of a non-brokered offering of 899,717 common share units (“Common Share Units”) at a price of $3 per Common Share Unit for aggregate gross proceeds of $2,699,151. Each Common Share Unit consists of one common share and one warrant (“Warrant”) to purchase one common share at $4.50 per common share for a period of two years. The Warrants will be immediately exercisable, and may be exercised for two years from the date of issuance, provided, however that, if, the common shares on the TSX Venture Exchange trade at greater than $6.00 for 10 or more consecutive trading days, the Warrants will be accelerated and the Warrants will expire on the 30 th 19. In connection with the offering, the Company paid finder’s fees of CAD $132,551, representing a 5% finder’s fee on certain subscriptions to qualified finders, a portion of which was recognized as deferred share issuance costs as at December 31, 2023. On March 4, 2024, the Company issued an aggregate of 39,483 options to purchase common shares of the Company to directors, officers, employees, and consultants in accordance with the Company’s stock option plan. The options are exercisable at a price of CAD $4.50 per common share and expire five years from the date of grant. On March 11, 2024, the Company proposed to amend the terms of an aggregate of 1,074,397 outstanding common share purchase warrants by amending the exercise price to $5.00 per share. Of the warrants, 204,710 were issued pursuant in a private placement that closed in February 2021. The warrants had an original exercise price of $42.26 per share. The Company intends to amend the exercise price from $42.26 to $5.00. Of the warrants, 286,355 were issued pursuant to a private placement that closed in October 2021. The warrants had an original exercise price of $42.93 per share. The Company intends to amend the exercise price from $42.93 to $5.00. Of the warrants, 583,332 were issued pursuant to a private placement that closed in October 2022. The warrants had an original exercise price of $10.98 per share. The Company intends to amend the exercise price from $10.98 to $5.00. Pursuant to the polices of the TSX Venture Exchange the terms of the warrants, as amended, will be subject to an acceleration expiry provision such that if for any 10 consecutive trading dates during the unexpired term of the warrants, the closing price of the Company’s shares on the exchange exceeds $6.50, the exercise period of the warrants will be reduced to 30 days, starting seven days after the last premium trading day. The Company will announce any such accelerated expiry date by press release. All other terms of the warrants remain unchanged. The amendments described above are subject to acceptance by the holders of the warrants and the approval of the exchange.

Material Accounting policies (P

Material Accounting policies (Policies)	12 Months Ended
	Dec. 31, 2023
Material Accounting policies
Classification	a) Classification The Company classifies its financial instruments in the following categories: at fair value through profit or loss (“FVTPL”), at fair value through other comprehensive income (loss) (“FVTOCI”), or at amortized cost. The Company determines the classification of financial assets at initial recognition. The classification of debt instruments is driven by the Company’s business model for managing the financial assets and their contractual cash flow characteristics. Equity instruments that are held for trading are classified as FVTPL. For other equity instruments, on the day of acquisition the Company can make an irrevocable election (on an instrument-by-instrument basis) to designate them as at FVTOCI. Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or if the Company has opted to measure them at FVTPL. The following are the Company’s financial instruments as at December 31, 2023 and 2022 and January 1, 2022: ​ ​ ​ Classification ​ ​ Cash FVTPL Accounts payable and accrued liabilities Amortized cost Derivative warrant liability FVTPL Lease obligations Amortized cost ​ ​
Measurement	b) Measurement Financial assets at FVTOCI Elected investments in equity instruments at FVTOCI are initially recognized at fair value plus transaction costs. Subsequently they are measured at fair value, with gains and losses recognized in other comprehensive income (loss). 3. Material Accounting policies (continued) b) Financial assets and liabilities at amortized cost Financial assets and liabilities at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost using the effective interest rate, less any impairment. Financial assets and liabilities at FVTPL Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the consolidated statements of comprehensive loss. Realized and unrealized gains and losses arising from changes in the fair value of the financial assets and liabilities held at FVTPL are included in the consolidated statements of comprehensive loss in the period in which they arise. Where management has opted to recognize a financial liability at FVTPL, any changes associated with the Company’s own credit risk will be recognized in other comprehensive loss.
Impairment of financial assets at amortized cost	c) Impairment of financial assets at amortized cost The Company recognizes a loss allowance for expected credit losses on financial assets that are measured at amortized cost. At each reporting date, the Company measures the loss allowance for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset has not increased significantly since initial recognition, the Company measures the loss allowance for the financial asset at an amount equal to the twelve month expected credit losses. The Company shall recognize in the consolidated statements of comprehensive loss, as an impairment gain or loss, the amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized.
Derecognition	d) Derecognition Financial assets The Company derecognizes financial assets only when the contractual rights to cash flows from the financial assets expire, or when it transfers the financial assets and substantially all of the associated risks and rewards of ownership to another entity. Gains and losses on derecognition are generally recognized in profit or loss. However, gains and losses on derecognition of financial assets classified as FVTOCI remain within accumulated other comprehensive income (loss). Financial liabilities The Company derecognizes financial liabilities only when its obligations under the financial liabilities are discharged, cancelled or expired. Generally, the difference between the carrying amount of the financial liability derecognized and the consideration paid and payable, including any non-cash assets, is recognized in the consolidated statements of comprehensive loss. Cash Cash includes cash on hand, held at banks, or held with investment brokers as well as short-term investments with an original maturity of 90 days or less, which are readily convertible into known amounts of cash. ​ 3. d) Equipment Equipment is recorded at cost less accumulated amortization and accumulated impairment losses. The cost of an item of equipment includes expenditures that are directly attributable to the acquisition thereof. Amortization is calculated on bases and rates designed to amortize the cost of the assets over their estimated useful lives. Amortization is recorded using the straight-line method with an expectation of the following useful life estimates: Computer equipment Leases At inception of a contract, the Company assesses whether a contract is, or contains, a lease determining whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, we assess whether: ● The contract involves the use of an identified asset; ● The Company has the right to obtain substantially all of the economic benefits from use of the identified asset throughout the period of use; and ● The Company has the right to direct the use of the identified asset. The right-of-use asset and corresponding lease obligation is recognized at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease obligation adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term or its useful life, whichever is shorter. The lease term includes periods covered by an option to extend if the Company is reasonably certain to exercise that option. In addition, the right-of-use asset is reduced by impairment losses and adjusted for certain remeasurements of the lease obligation, if any. The lease obligation is initially measured at the present value of the lease payments that are not paid at the commencement date. The lease payments are discounted using the implicit interest rate in the lease. If the rate cannot be readily determined, the Company’s incremental rate of borrowing is used. The lease obligation is subsequently measured at amortized cost using the effective interest method. The lease obligation is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in our estimate of the amount expected to be payable under a residual value guarantee, if we change our assessment of whether we will exercise a purchase, extension or termination option, or if the underlying lease contract is amended. The Company has elected not to separate fixed non-lease components from lease components and instead account for each lease component and associated fixed non-lease components as a single lease component. The Company has elected not to recognize right-of-use assets and lease obligations for short-term leases that have a lease term of 12 months or less and for leases of low value assets. The lease payments associated with those leases are recognized as an expense on a straight-line basis over the lease term. Research and development costs Research costs including clinical trial costs are expensed as incurred, net of recoveries, until a drug product receives regulatory approval. Development costs that meet specific criteria related to technical, market, and financial feasibility will be capitalized. To date, all research and development costs have been expensed. 3. Intangible assets Intangible assets are measured at cost less accumulated amortization and accumulated impairment losses. Costs incurred for patents, patents pending and licenses are capitalized and amortized from the date of capitalization on a straight-line basis over the shorter of their respective remaining estimated lives or 20 years. Government assistance Amounts received or receivable resulting from government assistance programs, including grants and investment tax credits for research and development, are recognized where there is reasonable assurance that the amount of government assistance will be received and all attached conditions will be complied with. Investment tax credits relating to qualifying scientific research and experimental development expenditures that are recoverable are recognized as a reduction of expenses. Impairment of long-lived assets Intangible assets and equipment are tested for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable. For the purpose of measuring recoverable amounts, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units or CGUs). The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use (being the present value of the expected future cash flows of the relevant asset or CGU). An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The Company evaluates impairment losses for potential reversals when events or circumstances warrant such consideration. Derivative warrant liabilities Derivative warrant liabilities issued in relation to equity offerings that fail to meet the definition of equity are classified as derivative liabilities and measured at fair value with changes in fair value recognized in profit or loss at each period end. In instances where units consisting of a common share and a warrant classified as a derivative liability are issued, the Company recognizes the unit as a compound financial instrument. In accordance with IAS 32 Financial Instruments: Presentation, when a compound instrument has been determined to contain a financial liability and an equity component, the fair value of the instrument is bifurcated by first determining the fair value of the liability, and then allocating any residual value to the equity instrument. The derivative warrants will ultimately be converted into the Company’s equity (common shares) when the warrants are exercised or will be extinguished on the expiry of the outstanding warrants and will not result in the outlay of any cash by the Company. Immediately prior to exercise, the warrants are remeasured at their intrinsic value (the intrinsic value being the share price at the date the warrant is exercised less the exercise price of the warrant), and this value is transferred to Share Capital on exercise. Any remaining fair value is recorded through profit or loss as part of the change in estimated fair value of the derivative warrant liabilities. The Company uses the Black-Scholes option pricing model to estimate fair value at each period end date. The key assumptions used in the model are described in Note 12 (g). Share-based payments The Company has a stock option plan that is described in Note 12 and grants share options to acquire common shares of the Company to directors, officers, employees, and consultants. Share-based payments to employees are measured at the fair value of the instruments granted. Share-based payments to non-employees are measured at the fair value of the goods or services received or the fair value of the equity instruments issued as calculated using the Black-Scholes option pricing model. The offset to the recorded expense is to reserves. Consideration received on the exercise of stock options is recorded as share capital and the recorded amount in reserves is transferred to share capital. 3. Share capital Common shares are classified as equity. Costs directly identifiable with share capital financing are charged against share capital. Share issuance costs incurred in advance of share subscriptions are recorded as deferred assets. Share issuance costs related to uncompleted share subscriptions are charged to operations in the period they are incurred. The Company’s common shares, pre-funded warrants, warrants (other than derivative warrants) and options are classified as equity instruments. Incremental costs directly related to the issue of new shares or options are shown in equity as a deduction from the proceeds. For equity offerings of units consisting of a common share and warrant, when both instruments are classified as equity, the Company allocates proceeds first to common shares based on the estimated fair value of the common shares at the time the units are issued, with any excess value allocated to warrants. From time to time in connection with private placements and other equity offerings, the Company issues compensatory warrants (“Finders’ Warrants”) or warrant units (“Finders’ Warrant Units”) to agents as commission for services. Awards of Finders’ Warrants and Finders’ Warrant Units are accounted for in accordance with the fair value method of accounting and result in share issue costs and a credit to reserves when Finders’ Warrants and Finders’ Warrant Units are issued. The fair value of Finders’ Warrants is measured using the Black-Scholes option pricing model and the fair value of the Finders’ Warrant Units is measured using the Geske compound option pricing model that requires the use of certain assumptions regarding the risk-free market interest rate, expected volatility in the price of the underlying stock, and expected life of the instruments. Earnings (loss) per common share Basic earnings (loss) per common share is computed by dividing the net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period and the diluted loss per share assumes that the outstanding vested stock options and share purchase warrants had been exercised at the beginning of the year. Diluted earnings per share reflect the potential dilution that could share in the earnings of an entity. In the periods where a net loss is incurred, potentially dilutive common shares are excluded from the loss per share calculation as the effect would be anti-dilutive and basic and diluted loss per common share are the same. In a profit year, the weighted average number of common shares outstanding used for the calculation of diluted earnings per share assumes that the proceeds to be received on the exercise of dilutive stock options and warrants are used to repurchase the common shares at the average price per period. Foreign currency translation The presentation and functional currency of the Company and its subsidiary is the U.S. dollar. Foreign currency transactions are translated into U.S. dollars using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange in effect as of the financial position date. Gains and losses are recognized in profit or loss on a current basis. Income taxes The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using substantively enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred income tax assets also result from unused loss carry forwards, resource related pools and other deductions. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.

Basis of preparation (Tables)

Basis of preparation (Tables)	12 Months Ended
	Dec. 31, 2023
Basis of preparation.
Schedule of company's subsidiary	​ ​ ​ ​ ​ ​ ​ Name Place of Incorporation Ownership XORTX Pharma Corp. Canada 100% ​
Schedule of exchange rate	​ ​ ​ ​ ​ ​ CAD – USD exchange rate 2022 2021 Closing rate ​ 0.7383 ​ 0.7888 Average rate 0.7692 0.7980
Schedule of financial statement	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 January 1, 2022 ​ As reported, CAD Restated, USD As reported, CAD Restated, USD Total current assets ​ $ 14,750,412 ​ $ 10,895,568 ​ $ 20,173,339 ​ $ 15,912,730 Total assets ​ $ 16,752,929 ​ $ 12,374,026 ​ $ 22,035,902 ​ $ 17,381,920 Total current liabilities ​ $ 2,050,262 ​ $ 1,511,303 ​ $ 700,999 ​ $ 552,948 Total liabilities ​ $ 7,286,499 ​ $ 5,377,215 ​ $ 5,298,331 ​ $ 4,179,323 Total shareholders’ equity ​ $ 9,466,430 ​ $ 6,996,811 ​ $ 16,737,571 ​ $ 13,202,597 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 Year ended December 31, 2021 ​ ​ As reported, CAD ​ Restated, USD ​ As reported, CAD ​ Restated, USD Loss before other items ​ $ (13,385,051) ​ $ (10,290,606) ​ $ (3,649,523) ​ $ (2,910,605) Net loss ​ $ (9,485,309) ​ $ (7,718,882) ​ $ (1,652,282) ​ $ (1,579,274) Net loss and comprehensive Loss ​ $ (9,485,309) ​ $ (7,847,027) ​ $ (1,652,282) ​ $ (1,428,810) Basic and diluted loss per common share ​ $ (6.41) ​ $ (5.22) ​ $ (1.51) ​ $ (1.44) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 Year ended December 31, 2021 ​ ​ As reported, CAD ​ Restated, USD ​ As reported, CAD ​ Restated, USD Cash used in operating activities ​ $ (11,973,226) ​ $ (8,963,557) ​ $ (6,062,510) ​ $ (4,801,045) Cash used in investing activities ​ $ (60,016) ​ $ (45,701) ​ $ (39,809) ​ $ (31,807) Cash provided by financing activities ​ $ 6,435,884 ​ $ 4,709,739 ​ $ 24,456,551 ​ $ 19,372,334 Effect of foreign exchange on cash ​ $ 871,636 ​ $ (136,147) ​ $ 325,741 ​ $ 195,863 Net (decrease) increase in cash ​ $ (4,725,722) ​ $ (4,435,665) ​ $ 18,679,973 ​ $ 14,735,345 Cash beginning of year ​ $ 18,851,244 ​ $ 14,869,861 ​ $ 171,271 ​ $ 134,516 Cash end of year ​ $ 14,125,522 ​ $ 10,434,196 ​ $ 18,851,244 ​ $ 14,869,861 ​

Material Accounting policies (T

Material Accounting policies (Tables)	12 Months Ended
	Dec. 31, 2023
Material Accounting policies
Schedule of company's financial instrument	The following are the Company’s financial instruments as at December 31, 2023 and 2022 and January 1, 2022: ​ ​ ​ Classification ​ ​ Cash FVTPL Accounts payable and accrued liabilities Amortized cost Derivative warrant liability FVTPL Lease obligations Amortized cost ​ ​

Cash (Tables)

Cash (Tables)	12 Months Ended
	Dec. 31, 2023
Cash.
Summary of cash	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ January 1, ​ ​ 2023 ​ 2022 ​ 2022 ​ ​ $ $ $ ​ ​ ​ ​ ​ ​ ​ ​ Cash ​ 94,999 ​ 3,823,217 ​ 14,869,861 ​ Interest-bearing deposits ​ 3,352,666 ​ 6,610,979 ​ — ​ ​ ​ 3,447,665 ​ 10,434,196 ​ 14,869,861 ​ ​

Prepaid expenses (Tables)

Prepaid expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Prepaid expenses.
Schedule of company's prepaid expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ January 1, ​ 2023 ​ 2022 2022 ​ ​ $ ​ $ ​ $ ​ ​ ​ ​ ​ ​ ​ Research and development — ​ — 563,768 Insurance 204,302 ​ 238,365 348,167 Investor relations conferences and services 25,309 ​ 66,305 49,715 Consulting — ​ 12,305 39,440 Administrative services and other 7,355 ​ 62,645 1,125 ​ 236,966 ​ 379,620 1,002,215 ​

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
	Dec. 31, 2023
Intangible assets.
Schedule of intangible assets	​ ​ ​ ​ Cost Total ​ ​ $ Balance, December 31, 2021 287,905 Additions 26,005 Foreign currency translation adjustment (19,159) Balance, December 31, 2022 294,751 Additions ​ 42,052 Balance, December 31, 2023 336,803 ​ ​ ​ ​ Accumulated amortization Total ​ ​ $ Balance, December 31, 2021 85,780 Amortization 17,077 Foreign currency translation adjustment (7,940) Balance, December 31, 2022 ​ 94,917 Amortization 66,632 Balance, December 31, 2023 161,549 ​ ​ ​ ​ Carrying values Total ​ ​ $ At January 1, 2022 ​ 202,125 At December 31, 2022 ​ 199,834 At December 31, 2023 ​ 175,254

Property and equipment (Tables)

Property and equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property and equipment
Schedule of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use ​ ​ ​ ​ Cost asset ​ Equipment ​ Total ​ ​ $ ​ $ ​ $ Balance, December 31, 2021 — ​ — ​ — Additions ​ 114,588 ​ 19,696 ​ 134,284 Foreign currency translation adjustment ​ — ​ (663) ​ (663) Balance, December 31, 2022 ​ 114,588 ​ 19,033 ​ 133,621 Additions — ​ 4,311 ​ 4,311 Balance, December 31, 2023 114,588 ​ 23,344 ​ 137,932 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use ​ ​ ​ ​ Accumulated amortization asset ​ Equipment ​ Total ​ ​ $ ​ $ ​ $ Balance, December 31, 2021 — ​ — ​ — Amortization ​ 38,195 ​ 2,874 ​ 41,069 Foreign currency translation adjustment ​ — ​ (126) ​ (126) Balance, December 31, 2022 ​ 38,195 ​ 2,748 ​ 40,943 Amortization 65,480 ​ 7,582 ​ 73,062 Balance, December 31, 2023 103,675 ​ 10,330 ​ 114,005 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use ​ ​ ​ ​ Carrying values asset ​ Equipment ​ Total ​ ​ $ ​ $ ​ $ At December 31, 2022 ​ 76,393 ​ 16,285 ​ 92,678 At December 31, 2023 ​ 10,913 ​ 13,014 ​ 23,927

Accounts payable and accrued _2

Accounts payable and accrued liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Accounts payable and accrued liabilities.
Schedule of accounts payable and accrued liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ January 1, ​ 2023 2022 ​ 2022 ​ ​ $ ​ $ ​ $ Trade payables 195,814 1,293,807 ​ 323,961 Accrued liabilities 87,614 151,406 ​ 228,987 Total 283,428 1,445,213 ​ 552,948 ​

Lease obligation (Tables)

Lease obligation (Tables)	12 Months Ended
	Dec. 31, 2023
Lease obligation
Schedule of reconciliation of the outstanding lease obligation	​ ​ ​ ​ ​ $ Balance, December 31, 2021 ​ — Additions ​ 114,588 Lease payments ​ (36,989) Balance, December 31, 2022 ​ 77,599 Lease payments ​ (66,089) Balance, December 31, 2023 ​ 11,510
Schedule of future minimum lease payments related to the office lease obligation	​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ $ ​ $ 2023 ​ — ​ 69,769 2024 ​ 11,628 ​ 11,628 Total minimum lease payments ​ 11,628 ​ 81,397 Less: imputed interest ​ (118) ​ (3,798) Total present value of minimum lease payments ​ 11,510 ​ 77,599 Less: current portion ​ (11,510) ​ (66,090) Non-current portion ​ — ​ 11,509 ​

Share capital and reserves (Tab

Share capital and reserves (Tables)	12 Months Ended
	Dec. 31, 2023
Share capital and reserves
Summary of changes in warrants	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number of ​ Average ​ Warrants Exercise price Balance, December 31, 2021 ​ 569,655 ​ $ 33.10 Granted – October 7, 2022 555,555 ​ ​ 10.98 Balance, December 31, 2023 and 2022 1,125,210 ​ $ 22.31
Schedule of information on warrants outstanding	The following table summarizes information on warrants outstanding at December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ Number ​ ​ ​ Contractual Exercise Price Outstanding Expiry date Life CAD$42.26 ​ 198,333 ​ February 9, 2026 ​ 2.11 years $42.93 ​ 270,211 ​ October 15, 2026 ​ 2.79 years $10.53 101,111 ​ October 15, 2026 2.79 years $10.98 ​ 555,555 ​ October 7, 2027 ​ 3.77 years Total 1,125,210 ​ ​ 3.15 years
Schedule of the changes in pre-funded warrants	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number of ​ ​ Average ​ Warrants ​ Exercise price Balance, December 31, 2021 ​ - ​ ​ — Granted – October 7, 2022 400,000 $ 0.0009 Exercised (71,223) $ 0.0009 Balance, December 31, 2022 ​ 328,777 ​ $ 0.0009 Exercised ​ (328,777) ​ $ 0.0009 Balance, December 31, 2023 - ​ —
Schedule of changes in finders' warrants	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number of ​ Average ​ Warrants Exercise price Balance, December 31, 2021 ​ 22,521 ​ $ 39.61 Granted – October 7, 2022 ​ 27,777 ​ ​ 10.98 Balance, December 31, 2023 and 2022 50,298 ​ $ 23.89
Schedule of information on finders' warrants outstanding	The following table summarizes information on finders’ and underwriters warrants outstanding at December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ Number ​ ​ ​ Contractual Exercise Price ​ Outstanding ​ Expiry date ​ Life CAD$42.30 ​ 6,377 ​ February 9, 2026 ​ 2.11 years $42.93 ​ 16,144 ​ October 15, 2026 ​ 2.79 years $10.98 ​ 27,777 ​ October 7, 2027 ​ 3.77 years Total ​ 50,298 ​ ​ ​ 3.25 years
Schedule of fair value of stock options granted was estimated on the date of grant using the Black-Scholes mode	​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 Dividend yield Nil Nil ​ Annualized volatility 100 % 100 % Risk-free interest rate 3.25 % 1.44%-3.32 % Expected life 5 years 5 years ​
Schedule of the changes in stock options for the years	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number of ​ Average ​ Options Exercise price (CAD) Balance, December 31, 2021 ​ 67,332 ​ $ 27.89 Granted – January 12, 2022 ​ 14,162 ​ ​ 22.86 Granted – June 6, 2022 ​ 43,866 ​ ​ 14.40 Granted – November 25, 2022 7,776 ​ ​ 12.42 Expired (4,896) ​ ​ 28.67 Balance, December 31, 2022 128,240 ​ $ 21.75 Granted – December 31, 2023 8,000 ​ ​ 2.90 Expired (32,318) ​ ​ 33.65 Balance, December 31, 2023 103,922 ​ $ 16.60 Vested and exercisable, December 31, 2023 89,872 ​ $ 16.54
Schedule of information on stock options outstanding and contractual remaining life	The following table summarizes information on stock options outstanding at December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number Number ​ ​ Remaining Exercise Price (CAD) Outstanding Exercisable Expiry Date Contractual Life $14.76 ​ 14,669 ​ 14,669 ​ June 23, 2025 ​ 1.48 years $25.38 ​ 1,419 ​ 1,419 ​ August 27, 2025 ​ 1.66 years $29.61 ​ 6,624 ​ 6,624 ​ January 11, 2026 ​ 2.03 years $16.92 2,366 2,366 ​ May 12, 2026 2.36 years $21.69 4,732 3,811 ​ July 14, 2026 2.54 years $22.86 8,085 8,085 ​ December 21, 2026 2.98 years $22.86 11,940 7,628 ​ January 12, 2027 3.04 years $14.40 40,533 35,265 ​ June 6, 2027 3.43 years $12.42 5,554 2,005 ​ November 25, 2027 3.90 years $2.90 8,000 8,000 ​ December 31, 2028 5.00 years ​ 103,922 89,872 ​ ​ ​ ​
Schedule of the derivative warrant liabilities	​ ​ ​ ​ ​ Balance at December 31, 2020 $ — Warrants issued February 9, 2021 ​ 4,212,000 Warrants exercised ​ (335,950) Fair value reclassified to reserves ​ (3,506,565) Warrants issued October 15, 2021 ​ 5,998,000 Fair value adjustment ​ (2,636,391) Foreign currency translation adjustment ​ ​ (104,719) Balance at December 31, 2021 ​ $ 3,626,375 Warrants issued October 7, 2022 ​ ​ 3,714,757 Fair value adjustment ​ ​ (3,396,137) Foreign currency translation adjustment ​ ​ (90,592) Balance at December 31, 2022 ​ $ 3,854,403 Reclassified from reserves ​ 318,000 Fair value adjustment ​ (3,641,403) Balance at December 31, 2023 ​ $ 531,000
Schedule of significant on assumptions used in determining the fair value of the derivative warrant liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ 2021 ​ Share price ​ $ 2.31 ​ $ 7.29 ​ $ 18.45 Risk-free interest rate ​ 3.25% - 3.91 % ​ 3.55 % ​ 1.23 % Dividend yield ​ 0 % ​ 0 % ​ 0 % Expected volatility ​ 100 % ​ 100 % ​ 100 % Remaining term (in years) ​ 2.1 - 3.8 ​ 3.8 - 4.8 ​ ​ 4.8 ​

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Related party transactions
Schedule of Management compensation transactions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Management ​ Share-based ​ ​ Compensation ​ Directors’ fees ​ payments ​ Total ​ ​ $ ​ $ ​ $ ​ $ Year ended December 31, 2021 ​ ​ ​ ​ Directors and officers ​ 442,932 ​ 51,820 ​ 276,436 ​ 771,188 ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 ​ ​ ​ ​ Directors and officers 880,387 127,053 404,573 1,412,013 ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2023 ​ ​ ​ ​ Directors and officers 974,240 182,675 77,779 1,234,694 ​

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income taxes
Schedule of loss before income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 ​ ​ $ ​ $ ​ $ ​ Net loss for the year (2,158,000) (7,718,000) (1,579,000) ​ Statutory tax rate 27 % 27 % 27 % Expected income tax recovery (583,000) (2,084,000) (426,000) ​ Decrease to income tax recovery due to: ​ ​ ​ ​ Non-deductible permanent differences 45,000 131,000 108,000 ​ Temporary differences (25,000) 276,000 447,000 ​ (Over) under provided in prior years (559,000) (552,000) — ​ Change in tax assets not recognized 1,122,000 2,229,000 (129,000) ​ Income tax recovery — — — ​
Schedule of significant components of the Company's deferred tax assets	​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 ​ ​ $ ​ $ Share issuance costs 229,000 485,000 Cumulative eligible capital 117,000 90,000 Operating losses carried forward 4,819,000 4,343,000 Total deferred tax assets 5,165,000 4,918,000 Deferred tax assets not recognized (5,165,000) (4,918,000) ​ — —
Schedule of losses expire	​ ​ ​ ​ Expiry date $ 2032 ​ 44,000 2033 ​ 748,000 2034 ​ 325,000 2035 ​ 286,000 2036 ​ 365,000 2037 ​ 618,000 2038 ​ 1,089,000 2039 ​ 554,000 2040 ​ 1,116,000 2041 ​ 3,648,000 2042 ​ 9,634,000 2043 ​ 3,134,000 Total ​ 21,561,000 ​

Financial instruments and ris_2

Financial instruments and risk management (Tables)	12 Months Ended
	Dec. 31, 2023
Financial instruments and risk management
Schedule of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 December 31, 2022 ​ ​ ​ ​ Carrying ​ Estimated ​ Carrying ​ Estimated ​ Level Value Fair Value Value Fair Value FVTPL ​ ​ $ ​ $ ​ $ ​ $ Cash 1 3,447,665 3,447,665 10,434,196 10,434,196 Financial liabilities at amortized cost ​ ​ ​ ​ ​ Accounts payable and accrued liabilities 1 283,428 283,428 1,445,213 1,445,213 Lease liability 2 11,510 11,510 77,599 77,599 FVTPL ​ ​ ​ ​ ​ Derivative warrant liability 3 531,000 531,000 3,854,403 3,854,403
Schedule of company's maximum exposure to credit risk	​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 ​ ​ $ ​ $ ​ ​ ​ ​ ​ Cash 3,447,665 10,434,196
Schedule of contractual maturities of these financial liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payments due by period as of December 31, 2023 ​ ​ ​ ​ ​ ​ Between 3 ​ ​ ​ ​ ​ ​ Less than ​ months and ​ ​ ​ Total 3 months 1 year 1-3 years ​ ​ $ ​ $ ​ $ ​ $ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable and accrued liabilities 283,428 283,428 — — Lease liability 11,510 11,510 — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 294,938 294,938 — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payments due by period as of December 31, 2022 ​ ​ ​ ​ ​ ​ Between 3 ​ ​ ​ ​ ​ ​ Less than ​ months and ​ ​ ​ Total 3 months 1 year 1-3 years ​ ​ $ ​ $ ​ $ ​ $ Accounts payable and accrued liabilities 1,445,213 1,445,213 — — Lease liability ​ 77,599 ​ 16,064 ​ 50,026 ​ 11,509 ​ 1,522,812 1,461,277 50,026 11,509
Schedule of the sensitivity of the Company's net earnings due to changes in the exchange rate between the USD, GBP and EUR against the Canadian dollar	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CAD GBP amount EUR Total ​ ​ $ ​ $ ​ $ ​ $ Cash ​ 36,627 — — 36,627 Accounts payable and accrued liabilities ​ (173,068) — — (173,068) Net exposure ​ (136,441) — — (136,441) ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect of +/- 10% change in currency ​ (13,644) — — —

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments
Schedule of long-term arrangements with commitments that are not recognized as liabilities	​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 ​ ​ $ ​ $ Management services – officers 321,000 441,754 1 1

Basis of preparation (Details)

Basis of preparation (Details)	12 Months Ended
	Dec. 31, 2023
Basis of preparation.
Ownership Percentage	100%

Basis of preparation - Exchange

Basis of preparation - Exchange rate (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Basis of preparation.
Closing rate	0.7383	0.7888
Average rate	0.7692	0.7980

Basis of preparation - Consolid

Basis of preparation - Consolidated Statements of Financial Position (Details)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CAD ($)	Jan. 01, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CAD ($)
Disclosure of initial application of standards or interpretations [line items]
Total Current Assets	$ 4,068,783	$ 10,895,568		$ 15,912,730	$ 15,912,730
Total Assets	5,467,964	12,374,026		17,381,920	17,381,920
Total Current Liabilities	294,938	1,511,303		552,948	552,948
Total Liabilities	825,938	5,377,215		4,179,323	4,179,323
Total Shareholders' Equity	$ 4,642,026	$ 6,996,811		$ 13,202,597	$ 13,202,597
As reported
Disclosure of initial application of standards or interpretations [line items]
Total Current Assets			$ 14,750,412			$ 20,173,339
Total Assets			16,752,929			22,035,902
Total Current Liabilities			2,050,262			700,999
Total Liabilities			7,286,499			5,298,331
Total Shareholders' Equity			$ 9,466,430			$ 16,737,571

Basis of preparation - Consol_2

Basis of preparation - Consolidated Statements of Comprehensive Loss (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2022 CAD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2021 CAD ($) $ / shares
Disclosure of initial application of standards or interpretations [line items]
Loss before other items	$ (6,045,986)	$ (10,290,606)		$ (2,910,605)
Net loss for the year	(2,158,065)	(7,718,882)		(1,579,274)
Total comprehensive loss for the year	$ (2,158,065)	$ (7,847,027)		$ (1,428,810)
Basic loss per common share | $ / shares	$ (1.09)	$ (5.22)		$ (1.44)
Diluted loss per common share | $ / shares	$ (1.09)	$ (5.22)		$ (1.44)
As reported
Disclosure of initial application of standards or interpretations [line items]
Loss before other items			$ (13,385,051)		$ (3,649,523)
Net loss for the year			(9,485,309)		(1,652,282)
Total comprehensive loss for the year			$ (9,485,309)		$ (1,652,282)
Basic loss per common share | $ / shares			$ (6.41)		$ (1.51)
Diluted loss per common share | $ / shares			$ (6.41)		$ (1.51)

Basis of preparation - Consol_3

Basis of preparation - Consolidated Statements of Cash Flows (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CAD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CAD ($)
Disclosure of initial application of standards or interpretations [line items]
Cash used in operating activities	$ (6,583,165)	$ (8,963,557)		$ (4,801,045)
Cash used in investing activities	(46,363)	(45,701)		(31,807)
Cash provided by financing activities	(361,044)	4,709,739		19,372,334
Effect of foreign exchange on cash	4,041			195,863
Net (decrease) increase in cash	(6,986,531)	(4,435,665)		14,735,345
Cash, beginning of year	10,434,196	14,869,861		134,516
Cash, end of year	$ 3,447,665	$ 10,434,196		$ 14,869,861
As reported
Disclosure of initial application of standards or interpretations [line items]
Cash used in operating activities			$ (11,973,226)		$ (6,062,510)
Cash used in investing activities			(60,016)		(39,809)
Cash provided by financing activities			6,435,884		24,456,551
Effect of foreign exchange on cash			871,636		325,741
Net (decrease) increase in cash			(4,725,722)		18,679,973
Cash, beginning of year			18,851,244		171,271
Cash, end of year			$ 14,125,522		$ 18,851,244

Material Accounting policies (D

Material Accounting policies (Details)	12 Months Ended
	Dec. 31, 2023
Computer equipment
Accounting policies
Estimated lives of computer equipment (in years)	3 years
Intangible assets
Accounting policies
Estimated lives of intangible assets (in years)	20 years

Cash (Details)

Cash (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash.
Current annual interest rate earned on deposits	5.15%	3.90%
Cash	$ 94,999	$ 3,823,217	$ 14,869,861
Interest-bearing deposits	3,352,666	6,610,979
Cash	$ 3,447,665	$ 10,434,196	$ 14,869,861	$ 14,869,861	$ 134,516

Prepaid expenses (Details)

Prepaid expenses (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022
Prepaid expenses.
Research and development			$ 563,768
Insurance	$ 204,302	$ 238,365	348,167
Investor relations conferences and services	25,309	66,305	49,715
Consulting		12,305	39,440
Administrative services and other	7,355	62,645	1,125
Prepaid expenses	$ 236,966	$ 379,620	$ 1,002,215

Contract payment (Details)

Contract payment (Details) - Dec. 31, 2020 - Prevail Info Works Inc	USD ($) shares	$ / shares
Contract payment
Current prepayment | $	$ 1,200,000
Issued units | shares	108,590
Par value per share | $ / shares		$ 14.76

Intangible assets (Details)

Intangible assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Intangible assets
Balance at beginning	$ 199,834
Amortization	66,632	$ 17,077	$ 14,266
Balance at ending	175,254	199,834
Carrying values
Intangible assets
Balance at beginning	199,834	202,125
Balance at ending	175,254	199,834	202,125
Cost
Intangible assets
Balance at beginning	294,751	287,905
Additions	42,052	26,005
Foreign currency translation adjustment		(19,159)
Balance at ending	336,803	294,751	287,905
Accumulated amortization
Intangible assets
Balance at beginning	(94,917)	(85,780)
Amortization	66,632	17,077
Foreign currency translation adjustment		(7,940)
Balance at ending	$ (161,549)	$ (94,917)	$ (85,780)

Intangible assets - other detai

Intangible assets - other details (Details) - USD ($)			1 Months Ended	12 Months Ended
	Jul. 09, 2013	Oct. 09, 2012	Dec. 31, 2012	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022
Intangible assets.
Total amount paid	$ 40,000
Royalty amount received				5%
Commercial sale of product				10 years
Net sale product				1.50%
Receipt of regulatory				$ 100,000
Issuance to UFRF, shares of common stock		180,397		160,783	160,783
Milestone payment				$ 500,000
Annual license fee				1,000
Royalties paid				0
Number of remaining shares to be issued included in obligation to issue shares				24,746	$ 24,746	$ 24,746
Royalties paid to UFRF				$ 0
Expiration year			10 years

Property and equipment (Details

Property and equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment [line items]
Balance	$ 92,678
Amortization	73,062	$ 41,069
Balance	23,927	92,678
Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Balance	133,621
Additions	4,311	134,284
Foreign currency translation adjustment		(663)
Balance	137,932	133,621
Accumulated amortization
Disclosure of detailed information about property, plant and equipment [line items]
Balance	(40,943)
Amortization	(73,062)	(41,069)
Foreign currency translation adjustment		(126)
Balance	(114,005)	(40,943)
Right-of-use assets
Disclosure of detailed information about property, plant and equipment [line items]
Balance	76,393
Balance	10,913	76,393
Right-of-use assets | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Balance	114,588
Additions		114,588
Balance	114,588	114,588
Right-of-use assets | Accumulated amortization
Disclosure of detailed information about property, plant and equipment [line items]
Balance	(38,195)
Amortization	(65,480)	(38,195)
Balance	(103,675)	(38,195)
Office equipment
Disclosure of detailed information about property, plant and equipment [line items]
Balance	16,285
Balance	13,014	16,285
Office equipment | Gross carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Balance	19,033
Additions	4,311	19,696
Foreign currency translation adjustment		(663)
Balance	23,344	19,033
Office equipment | Accumulated amortization
Disclosure of detailed information about property, plant and equipment [line items]
Balance	(2,748)
Amortization	(7,582)	(2,874)
Foreign currency translation adjustment		(126)
Balance	$ (10,330)	$ (2,748)

Accounts payable and accrued _3

Accounts payable and accrued liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022
Accounts payable and accrued liabilities
Trade payables	$ 195,814	$ 1,293,807	$ 323,961
Accrued liabilities	87,614	151,406	228,987
Total	$ 283,428	$ 1,445,213	$ 552,948

Lease obligation - Reconciliati

Lease obligation - Reconciliation of obligation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lease obligation
Balance	$ 77,599
Additions		$ 114,588
Lease payments	(66,089)	(36,989)
Balance	11,510	77,599
Total lease obligations	11,510	77,599
Less: current portion	$ (11,510)	(66,090)
Non-current portion		$ 11,509

Lease obligation - Future payme

Lease obligation - Future payments (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Lease obligation
Minimum lease payments	$ 11,628	$ 81,397
Less: imputed interest	118	3,798
Total present value of minimum lease payments	11,510	77,599
Less: current portion	(11,510)	(66,090)
Non-current portion		11,509
2023
Lease obligation
Minimum lease payments		69,769
2024
Lease obligation
Minimum lease payments	$ 11,628	$ 11,628

Share capital and reserves- Aut

Share capital and reserves- Authorized and issued (Details) - shares	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 08, 2021
Share capital and reserves
Number of shares issued	1,998,848	1,670,071	1,443,293	362,333

Share capital and reserves - Is

Share capital and reserves - Issuances (Details)								12 Months Ended
	Jan. 19, 2023 USD ($) $ / shares shares	Dec. 29, 2022 USD ($) $ / shares shares	Oct. 07, 2022 USD ($) $ / shares shares	Oct. 07, 2022 CAD ($) shares	Nov. 08, 2021 USD ($) $ / shares shares	Oct. 15, 2021 $ / shares	Feb. 09, 2021 USD ($) $ / shares shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) shares
Disclosure of classes of share capital [line items]
Price per unit | $ / shares					$ 37.17
Aggregate gross proceeds | $					$ 1,466,150
Number of warrants issued					371,322
Issuance costs recorded as a reduction of equity | $										$ 59,092
Value of shares issued from exercise of warrants | $								$ 296	$ (64)	2,273,043
Amount transferred from reserves to share capital | $										$ 51,783
Warrant
Disclosure of classes of share capital [line items]
Exercise price of warrants | $ / shares						$ 42.93
Warrants expiration term						5 years
Number of shares issued upon exercise of warrants										72,398
Value of shares issued from exercise of warrants | $										$ 2,273,043
Amount transferred from reserves to share capital | $										23,566
Pre-Funded Warrant
Disclosure of classes of share capital [line items]
Number of shares issued upon exercise of warrants	328,777
Value of shares issued from exercise of warrants | $	$ 296
Amount transferred from reserves to share capital | $	$ 531,885
Pre-Funded Warrant | Common Share Units
Disclosure of classes of share capital [line items]
Exercise price of warrants | $ / shares	$ 0.0009
Private placement
Disclosure of classes of share capital [line items]
Number of units issued							231,743
Price per unit | $ / shares							$ 26.415
Number of shares per unit							1
Number of warrant per unit							1
Number of shares per warrant							1
Aggregate gross proceeds | $			$ 4,999,640				$ 4,785,935
Exercise price of warrants | $ / shares							$ 42.30
Warrants expiration term							5 years
Proceeds allocated to derivative warrant liability				$ 3,714,757						4,212,000
Proceeds allocated to common shares				359,868						$ 573,935
Proceeds allocated to pre-funded warrants | $				925,015
Issuance costs | $				1,067,153
Issuance costs recorded as a reduction of equity				317,301			$ 32,394
Transaction costs on derivative warrant liability and pre-funded warrants				$ 917,357			$ 227,132
Private placement | Common Share Units
Disclosure of classes of share capital [line items]
Number of units issued			155,555	155,555
Price per unit | $ / shares			$ 9
Number of shares per unit			1	1
Number of warrant per unit			1	1
Number of shares per warrant			1	1
Private placement | Pre-Funded Units
Disclosure of classes of share capital [line items]
Number of units issued			400,000	400,000
Price per unit | $ / shares			$ 8.9991
Number of shares per unit			1	1
Number of warrant per unit			1	1
Number of shares per warrant			1	1
Private placement | Warrant | Pre-Funded Units
Disclosure of classes of share capital [line items]
Exercise price of warrants | $ / shares			$ 10.98
Warrants expiration term			5 years	5 years
Private placement | Pre-Funded Warrant
Disclosure of classes of share capital [line items]
Price per unit | $ / shares		$ 0.0009
Number of shares issued upon exercise of warrants		71,223
Value of shares issued from exercise of warrants | $		$ 64
Amount transferred from reserves to share capital | $		$ 164,704
Private placement | Pre-Funded Warrant | Common Share Units
Disclosure of classes of share capital [line items]
Exercise price of warrants | $ / shares			$ 0.0009
Private placement | Finders' warrants
Disclosure of classes of share capital [line items]
Exercise price of warrants | $ / shares							$ 42.30
Number of warrants issued			27,777	27,777			6,476
Fair value of warrants | $			$ 185,738				$ 150,000

Share capital and reserves - _2

Share capital and reserves - Issuances (Additional information) (Details)						12 Months Ended
	Oct. 07, 2022 USD ($) shares	Oct. 07, 2022 CAD ($) shares	Nov. 08, 2021 USD ($) $ / shares shares	Oct. 15, 2021 $ / shares	Feb. 09, 2021 USD ($) $ / shares shares	Dec. 31, 2021 USD ($)
Disclosure of classes of share capital [line items]
Price per unit | $ / shares			$ 37.17
Aggregate gross proceeds | $			$ 1,466,150
Number of warrants issued | shares			371,322
Issuance costs recorded as a reduction of equity | $						$ 59,092
Warrant
Disclosure of classes of share capital [line items]
Exercise price of warrants | $ / shares				$ 42.93
Warrants expiration term				5 years
Private placement
Disclosure of classes of share capital [line items]
Number of units issued | shares					231,743
Price per unit | $ / shares					$ 26.415
Aggregate gross proceeds | $	$ 4,999,640				$ 4,785,935
Number of shares per unit | shares					1
Number of warrant per unit | shares					1
Number of shares per warrant | shares					1
Exercise price of warrants | $ / shares					$ 42.30
Warrants expiration term					5 years
Statutory hold period					4 months
Threshold price of the common shares for accelerated warrants | $ / shares					$ 126.81
Minimum consecutive trading days to determine price of share					10 days
Proceeds allocated to derivative warrant liability		$ 3,714,757				4,212,000
Proceeds allocated to common shares		359,868				$ 573,935
Cash commissions | $					$ 135,158
Additional issuance costs | $					6,229
Issuance costs recorded as a reduction of equity		317,301			32,394
Transaction costs on derivative warrant liability and pre-funded warrants		$ 917,357			$ 227,132
Private placement | Finders' warrants
Disclosure of classes of share capital [line items]
Exercise price of warrants | $ / shares					$ 42.30
Number of warrants issued | shares	27,777	27,777			6,476
Fair value of warrants | $	$ 185,738				$ 150,000

Share capital and reserves - IP

Share capital and reserves - IPO Offering (Details)				12 Months Ended
	Nov. 08, 2021 USD ($) $ / shares shares	Nov. 08, 2021 CAD ($) shares	Oct. 15, 2021 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares
Disclosure of classes of share capital [line items]
Price per unit | $ / shares	$ 37.17
Aggregate gross proceeds	$ 1,466,150
Warrants to purchase common shares | shares	39,444
Number of common shares issued | shares	362,333			1,998,848	1,670,071	1,443,293
Number of warrants issued | shares	371,322	371,322
Issuance costs recorded as a reduction of equity						$ 59,092
Number of shares issued from exercise of options | shares						5,678
Value of shares issued from exercise of options						$ 66,502
Amount transferred from reserves to share capital						51,783
Value of shares issued from exercise of warrants				$ 296	$ (64)	$ 2,273,043
Shares issued in exchange for services | shares						2,839
Value of Shares issued in exchange for services						$ 59,092
Warrant
Disclosure of classes of share capital [line items]
Exercise price of warrants | $ / shares			$ 42.93
Warrants expiration term			5 years
Warrants to purchase common shares | shares			48,433
Amount transferred from reserves to share capital						$ 23,566
Number of shares issued upon exercise of warrants | shares						72,398
Value of shares issued from exercise of warrants						$ 2,273,043
Amount transferred from derivative warrant liability to share capital						$ 440,669
US IPO Offering [Member]
Disclosure of classes of share capital [line items]
Number of units issued | shares			322,888
Number of shares per unit | shares			1
Par value | $ / shares			$ 0
Number of warrant per unit | shares			1
Number of shares per warrant | shares			1
Price per unit | $ / shares			$ 37.17
Aggregate gross proceeds			$ 12,001,780
Proceeds allocated to derivative warrant liability			5,998,000
Proceeds allocated to common shares			$ 7,467,772
US IPO Offering [Member] | Finders' warrants
Disclosure of classes of share capital [line items]
Number of warrants issued | shares	16,144	16,144
Issuance costs		$ 1,814,673
Fair value of warrants	$ 292,842
Issuance costs recorded as a reduction of equity	1,104,238
Transaction costs on derivative warrant liability and pre-funded warrants	$ 1,003,277

Share capital and reserves - Di

Share capital and reserves - Diluted Weighted Average Number of Shares Outstanding (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Diluted Weighted Average Number of Shares Outstanding
Basic weighted average shares outstanding	1,981,734	1,479,914	1,094,182
Diluted weighted average shares outstanding	1,981,734	1,479,914	1,094,182

Share capital and reserves - Ch

Share capital and reserves - Changes in warrants (Details) - $ / shares			12 Months Ended
	Oct. 07, 2022	Oct. 07, 2021	Dec. 31, 2023	Dec. 31, 2022	Nov. 08, 2021
Share capital and reserves
Number of warrants balance at beginning				569,655
Exercise price balance at beginning				$ 33.10
Exercise price granted	$ 10.98
Number of warrants granted		555,555
Number of warrants balance at ending			1,125,210
Exercise price balance at ending			$ 22.31	22.31
Warrants to purchase common shares					39,444
Exercise price warrant			$ 10.98
Pre-Funded Warrants [Member]
Share capital and reserves
Number of warrants granted			400,000
Exercise price granted				$ 0.0009
Number of warrants exercised				(71,223)
Exercise price exercised			$ 0.0009
Exercise price balance at ending				$ 0.0009

Share capital and reserves - Wa

Share capital and reserves - Warrants Outstanding (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Average remaining contractual life		4 years 3 months
Warrant reserve [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Average remaining contractual life	3 years 1 month 24 days	4 years 1 month 24 days
Exercise Price 42.26
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 42.26
Number of shares outstanding	198,333
Expiry date	February 9, 2026
Average remaining contractual life	2 years 1 month 9 days
Exercise Price 42.93
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 42.93
Number of shares outstanding	270,211
Expiry date	October 15, 2026
Average remaining contractual life	2 years 9 months 14 days
Exercise price 10.53
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 10.53
Number of shares outstanding	101,111
Expiry date	October 15, 2026
Average remaining contractual life	2 years 9 months 14 days
Exercise price 10.98
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 10.98
Number of shares outstanding	555,555
Expiry date	October 7, 2027
Average remaining contractual life	3 years 9 months 7 days
Exercise Price $4.77 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 42.93

Share capital and reserves - Pr

Share capital and reserves - Pre-Funded Warrants (Details) - $ / shares			12 Months Ended
	Oct. 07, 2022	Oct. 07, 2021	Dec. 31, 2023	Dec. 31, 2022
Share capital and reserves
Number of warrants granted		555,555
Exercise price at beginning			$ 22.31
Exercise price granted	$ 10.98
Pre-Funded Warrants
Share capital and reserves
Number of warrants balance at beginning			328,777
Number of warrants granted			400,000
Exercise price granted	$ 0.0009
Exercise price at beginning			$ 0.0009
Exercise price granted			$ 0.0009
Number of warrant exercised			(328,777)
Number of warrants balance at ending				328,777
Finders’ Warrants [Member]
Share capital and reserves
Number of warrants balance at beginning			50,298	22,521
Exercise price balance at beginning				$ 39.61
Number of warrants granted				27,777
Exercise price granted				$ 10.98
Number of warrants balance at ending				50,298
Exercise price balance at ending				$ 23.89

Share capital and reserves - Fi

Share capital and reserves - Finders' and underwriters warrants (Details)		12 Months Ended
	Oct. 07, 2022 CAD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2022	Dec. 31, 2023 $ / shares shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of outstanding | shares				50,298
Average remaining contractual life			4 years 3 months
Fair value of the finders' warrants | $	$ 185,738	$ 3,714,757
Expected life	5 years	5 years
Expected volatility	100%	100%	100%
Risk-free interest rate	3.66%
Expected dividend yield	0%
Exercise Price 42.3 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price | $ / shares				$ 42.30
Number of outstanding | shares				6,377
Expiry date		February 9, 2026
Average remaining contractual life		2 years 1 month 9 days
Exercise Price 42.93 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price | $ / shares				$ 42.93
Number of outstanding | shares				16,144
Expiry date		October 15, 2026
Average remaining contractual life		2 years 9 months 14 days
Exercise price 10.98 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price | $ / shares				$ 10.98
Number of outstanding | shares				27,777
Expiry date		October 7, 2027
Average remaining contractual life		3 years 9 months 7 days
Exercise Price $4.77 [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price | $ / shares				$ 42.93

Share capital and reserves - Fa

Share capital and reserves - Fair value of stock options (Details)		12 Months Ended
	Oct. 07, 2022	Dec. 31, 2023	Dec. 31, 2022
Share capital and reserves
Annualized volatility	100%	100%	100%
Risk-free interest rate	3.66%
Expected life		5 years	5 years
Bottom of range [member]
Share capital and reserves
Risk-free interest rate		3.25%	1.44%
Top of range [member]
Share capital and reserves
Risk-free interest rate			3.32%

Share capital and reserves - _3

Share capital and reserves - Changes in stock options (Details) - $ / shares					12 Months Ended
	Nov. 25, 2022	Jun. 06, 2022	Jan. 12, 2022	Oct. 07, 2021	Dec. 31, 2023	Dec. 31, 2022
Share capital and reserves
Exercise price at beginning					$ 22.31
Number of options granted				555,555
Number of warrants balance at beginning						569,655
Number of warrants balance at ending					1,125,210
Exercise price balance at ending					$ 22.31	$ 22.31
Stock Options [Member]
Share capital and reserves
Number of options balance at beginning						67,332
Exercise price at beginning					$ 21.75	$ 27.89
Number of options granted	7,776	43,866	14,162		8,000
Exercise price granted	$ 12.42	$ 14.40	$ 22.86		$ 2.90
Number of warrants balance at beginning					128,240
Number of options expired					(32,318)	(4,896)
Exercise price expired					$ 33.65	$ 28.67
Number of warrants balance at ending					103,922	128,240
Exercise price balance at ending					$ 16.60	$ 21.75
Number of options vested balance at end					89,872
Exercise price vested balance at end					$ 16.54

Share capital and reserves - In

Share capital and reserves - Information on stock options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share capital and reserves
Number Outstanding	103,922
Average remaining Contractual Life		4 years 3 months
Ranges Of Exercise Prices For Outstanding Share Options Initial [Member]
Share capital and reserves
Exercise Price	$ 14.76
Number Outstanding	14,669
Number Exercisable	14,669
Expiry date	June 23, 2025
Average remaining Contractual Life	1 year 5 months 23 days
Ranges Of Exercise Prices For Outstanding Share Options One [Member]
Share capital and reserves
Exercise Price	$ 25.38
Number Outstanding	1,419
Number Exercisable	1,419
Expiry date	August 27, 2025
Average remaining Contractual Life	1 year 7 months 28 days
Ranges Of Exercise Prices For Outstanding Share Options Two [Member]
Share capital and reserves
Exercise Price	$ 29.61
Number Outstanding	6,624
Number Exercisable	6,624
Expiry date	January 11, 2026
Average remaining Contractual Life	2 years 10 days
Ranges Of Exercise Prices For Outstanding Share Options Three [Member]
Share capital and reserves
Exercise Price	$ 16.92
Number Outstanding	2,366
Number Exercisable	2,366
Expiry date	May 12, 2026
Average remaining Contractual Life	2 years 4 months 9 days
Ranges Of Exercise Prices For Outstanding Share Options Four [Member]
Share capital and reserves
Exercise Price	$ 21.69
Number Outstanding	4,732
Number Exercisable	3,811
Expiry date	July 14, 2026
Average remaining Contractual Life	2 years 6 months 14 days
Ranges Of Exercise Prices For Outstanding Share Options Five [Member]
Share capital and reserves
Exercise Price	$ 22.86
Number Outstanding	8,085
Number Exercisable	8,085
Expiry date	December 21, 2026
Average remaining Contractual Life	2 years 11 months 23 days
Ranges Of Exercise Prices For Outstanding Share Options Six [Member]
Share capital and reserves
Exercise Price	$ 22.86
Number Outstanding	11,940
Number Exercisable	7,628
Expiry date	January 12, 2027
Average remaining Contractual Life	3 years 14 days
Ranges Of Exercise Prices For Outstanding Share Options Seven [Member]
Share capital and reserves
Exercise Price	$ 14.40
Number Outstanding	40,533
Number Exercisable	35,265
Expiry date	June 6, 2027
Average remaining Contractual Life	3 years 5 months 4 days
Ranges Of Exercise Prices For Outstanding Share Options Eight [Member]
Share capital and reserves
Exercise Price	$ 12.42
Number Outstanding	5,554
Number Exercisable	2,005
Expiry date	November 25, 2027
Average remaining Contractual Life	3 years 10 months 24 days
Ranges Of Exercise Prices For Outstanding Share Options Nine [Member]
Share capital and reserves
Exercise Price	$ 2.90
Number Outstanding	8,000
Number Exercisable	8,000
Expiry date	December 31, 2028
Average remaining Contractual Life	5 years

Share capital and reserves - De

Share capital and reserves - Derivative warrant liability (Details) - CAD ($)				12 Months Ended
	Oct. 07, 2022	Oct. 15, 2021	Feb. 09, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share capital and reserves
Number of warrants balance at beginning					569,655
Number of warrants balance at ending				1,125,210		569,655
Derivative Warrants Liabilities [Member]
Share capital and reserves
Number of warrants balance at beginning				3,854,403	3,626,375
Warrants issued	3,714,757		4,212,000
Warrants exercised						(335,950)
Reclassified from reserves				$ 318,000
Fair value adjustment				(3,641,403)	(3,396,137)	(2,636,391)
Fair value reclassified to reserves						(3,506,565)
Warrants issued		5,998,000
Foreign currency translation adjustment					$ (90,592)	$ (104,719)
Number of warrants balance at ending				531,000	3,854,403	3,626,375

Share capital and reserves - _4

Share capital and reserves - Fair value of the derivative warrant liabilities (Details) - $ / shares		12 Months Ended
	Oct. 07, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share capital and reserves
Share price		$ 10.98
Risk-free interest rate	3.66%
Expected dividend yield		0%
Expected volatility	100%	100%	100%
Top of range [member]
Share capital and reserves
Risk-free interest rate			3.32%
Bottom of range [member]
Share capital and reserves
Risk-free interest rate		3.25%	1.44%
Derivative Warrant Liabilities [Member]
Share capital and reserves
Share price		$ 2.31	$ 7.29	$ 18.45
Risk-free interest rate			3.55%	1.23%
Expected dividend yield		0%	0%	0%
Expected volatility		100%	100%	100%
Remaining term (in years)			4 years 9 months 18 days
Derivative Warrant Liabilities [Member] | Top of range [member]
Share capital and reserves
Risk-free interest rate		3.91%
Remaining term (in years)		3 years 9 months 18 days	4 years 9 months 18 days
Derivative Warrant Liabilities [Member] | Bottom of range [member]
Share capital and reserves
Risk-free interest rate		3.25%
Remaining term (in years)		2 years 1 month 6 days	3 years 9 months 18 days

Share capital and reserves (Det

Share capital and reserves (Details)		12 Months Ended
	Oct. 07, 2022 CAD ($)	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2023 CAD ($) shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Nov. 08, 2021 shares
Share capital and reserves
Average Remaining contractual life				4 years 3 months
Value of shares issued from exercise of warrants | $		$ 296		$ (64)	$ 2,273,043
[custom:ExpectedLife]		5 years	5 years	5 years
Expected volatility	100%	100%	100%	100%
Share based payment expense | $		$ 120,984		$ 487,940	$ 396,423
Number of warrants issued | shares		1,998,848	1,998,848	1,670,071	1,443,293	362,333
Fair value of the warrants | $	$ 185,738		$ 3,714,757
Share price on date of grant | $ / shares		$ 9.09
Expected life	5 years	5 years	5 years
Exercise price warrant | $ / shares		$ 10.98
Risk free rate		3.66%	3.66%
Expected dividend yield		0%	0%
Warrant reserve [member]
Share capital and reserves
Average Remaining contractual life		3 years 1 month 24 days	3 years 1 month 24 days	4 years 1 month 24 days
Stock Options [Member]
Share capital and reserves
Average Remaining contractual life		3 years 14 days	3 years 14 days	3 years 5 months 4 days
Derivative Warrant Liabilities [Member]
Share capital and reserves
Expected volatility		100%	100%	100%	100%
Exercise price warrant | $ / shares		$ 2.31		$ 7.29	$ 18.45
Expected dividend yield		0%	0%	0%	0%

Related party transactions (Det

Related party transactions (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CAD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CAD ($)
Related party transactions
Wages and benefits paid		$ 417,810		$ 593,116		$ 264,178
Research and development fees		200,229		238,813		84,416
Directors' fees paid or accrued		182,675		127,053		33,492
Professional fees	$ 514,263		$ 454,071		$ 226,374
Payable to directors of the company		6,805		14,914
IFRS Chief Executive Officer
Related party transactions
Consulting fees				3,512		0
Payable to directors of the company				28,846
Former Chief Financial Officer
Related party transactions
Payable to directors of the company				10,904
IFRS Chief Financial Officer
Related party transactions
Professional fees		76,201				46,962
Payable to directors of the company		14,631
Chief Medical Officer
Related party transactions
Payable to directors of the company		8,000		50,000
Chief Business Officer
Related party transactions
Consulting fees		280,000		44,946		0
Payable to directors of the company		15,000		25,000
IFRS Director
Related party transactions
Consulting fees		0				44,179
IFRS Board Of Directors Chairman
Related party transactions
Directors' fees paid or accrued		$ 133,967		$ 68,617		$ 0

Related party transactions - Ma

Related party transactions - Management compensation transactions (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related party transactions
Directors' fees	$ 182,675	$ 127,053	$ 33,492
Board of directors
Related party transactions
Management Compensation	974,240	880,387	442,932
Directors' fees	182,675	127,053	51,820
Share-based payments	77,779	404,573	276,436
Total compensation	$ 1,234,694	$ 1,412,013	$ 771,188

Income taxes (Details)

Income taxes (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income taxes
Net loss for the year	$ (2,158,000)	$ (7,718,000)	$ (1,579,000)
Statutory tax rate	27%	27%	27%
Expected income tax recovery	$ (583,000)	$ (2,084,000)	$ (426,000)
Non-deductible permanent differences	45,000	131,000	108,000
Temporary differences	(25,000)	276,000	447,000
(Over) under provided in prior years	(559,000)	(552,000)
Change in tax assets not recognized	$ 1,122,000	$ 2,229,000	$ (129,000)

Income taxes - Significant comp

Income taxes - Significant components of the Company's deferred tax assets (Details) - CAD ($)	Dec. 31, 2023	Dec. 31, 2022
Income taxes
Share issuance costs	$ 229,000	$ 485,000
Cumulative eligible capital	117,000	90,000
Operating losses carried forward	4,819,000	4,343,000
Total deferred tax assets	5,165,000	4,918,000
Deferred tax assets not recognized	$ (5,165,000)	$ (4,918,000)

Income taxes - Schedule of loss

Income taxes - Schedule of losses expire (Details)	12 Months Ended
	Dec. 31, 2023 CAD ($)
Income taxes
Expiry date	$ 21,561,000
non-capital losses carried forward	21,561,000
Two Thousand Thirty Two
Income taxes
Expiry date	44,000
Two Thousand Thirty Three
Income taxes
Expiry date	748,000
Two Thousand Thirty Four
Income taxes
Expiry date	325,000
Two Thousand Thirty Five
Income taxes
Expiry date	286,000
Two Thousand Thirty Six
Income taxes
Expiry date	365,000
Two Thousand Thirty Seven
Income taxes
Expiry date	618,000
Two Thousand Thirty Eight
Income taxes
Expiry date	1,089,000
Two Thousand Thirty Nine
Income taxes
Expiry date	554,000
Two Thousand Fourty
Income taxes
Expiry date	1,116,000
Two Thousand Forty One
Income taxes
Expiry date	3,648,000
Two Thousand Forty Two
Income taxes
Expiry date	9,634,000
Two thousand forty three
Income taxes
Expiry date	$ 3,134,000

Financial instruments and ris_3

Financial instruments and risk management (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash And Cash Equivalent | Level 1 of fair value hierarchy
Financial instruments and risk management
Carrying value	$ 3,447,665	$ 10,434,196
Fair value	3,447,665	10,434,196
Account Payable And Accrued Liability. | Level 1 of fair value hierarchy
Financial instruments and risk management
Carrying value	283,428	1,445,213
Fair value	283,428	1,445,213
Lease liabilities. | Level 2 of fair value hierarchy
Financial instruments and risk management
Carrying value	11,510	77,599
Fair value	11,510	77,599
Derivative Warrant Liability | Level 3 of fair value hierarchy
Financial instruments and risk management
Carrying value	531,000	3,854,403
Fair value	$ 531,000	$ 3,854,403

Financial instruments and ris_4

Financial instruments and risk management - Company's risk exposures and their impact on the financial instruments (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022	Dec. 31, 2021	Dec. 31, 2020
Financial instruments and risk management
Cash	$ 3,447,665	$ 10,434,196	$ 14,869,861	$ 14,869,861	$ 134,516

Financial instruments and ris_5

Financial instruments and risk management - Contractual maturities of these financial liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Financial instruments and risk management
Accounts payable and accrued liabilities	$ 283,428	$ 1,445,213
Lease liability	11,510	77,599
Total	294,938	1,522,812
Not later than three months
Financial instruments and risk management
Accounts payable and accrued liabilities	283,428	1,445,213
Lease liability	11,510	16,064
Total	$ 294,938	1,461,277
Later than three months and not later than one year
Financial instruments and risk management
Lease liability		50,026
Total		50,026
Later than one year and not later than three years
Financial instruments and risk management
Lease liability		11,509
Total		$ 11,509

Financial instruments and ris_6

Financial instruments and risk management - Foreign Currency Risk (Details)	Dec. 31, 2023 USD ($)
Financial instruments and risk management
Cash	$ 36,627
Accounts payable and accrued liabilities	(173,068)
Net Exposure	(136,441)
United States of America, Dollars
Financial instruments and risk management
Cash	36,627
Accounts payable and accrued liabilities	(173,068)
Net Exposure	(136,441)
Effect of +/- 10% change in currency	$ (13,644)

Commitments - Employment Agreem

Commitments - Employment Agreements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Commitments
Management services - officers	$ 321,000	$ 441,754

Commitments - Additional Inform

Commitments - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CAD ($)	Dec. 31, 2022 USD ($)
The President, CEO, and director
Commitments
Termination benefits expenses	$ 321,000		$ 300,000
CFO
Commitments
Termination benefits expenses		$ 192,000

Commitments (Details)

Commitments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Commitments
payments for activities related to its clinical trial	$ 446,000	$ 1,994,232

Segmented information (Details)

Segmented information (Details)	12 Months Ended
	Dec. 31, 2023 segment
Segmented information
Number Of operating segment	1

Subsequent events (Details)

Subsequent events (Details)				12 Months Ended
	Mar. 04, 2024 USD ($) $ / shares shares	Feb. 15, 2024 USD ($) item $ / shares shares	Nov. 08, 2021 USD ($) $ / shares	Dec. 31, 2023 CAD ($)
Subsequent events
Price per unit | $ / shares			$ 37.17
Aggregate gross proceeds | $			$ 1,466,150
Offering | Non-brokered offering
Subsequent events
Number of tranches of offering | item		2
Finder's fees paid | $				$ 132,551
Percentage of finder's fee on certain subscriptions to qualified finders				5%
Offering | Non-brokered offering | Warrants
Subsequent events
Exercise price of warrants | $ / shares	$ 4.50	$ 4.50
Warrants expiration term	2 years	2 years
Threshold price of the common shares for accelerated warrants | $ / shares	$ 6	$ 6
Minimum consecutive trading days to determine price of share	10 days	10 days
Offering | Non-brokered offering | Common Share Units
Subsequent events
Number of units issued | shares	899,717	899,717
Price per unit | $ / shares	$ 3	$ 3
Aggregate gross proceeds | $	$ 2,699,151	$ 2,699,151
Number of shares per unit | shares	1	1
Number of warrant per unit | shares	1	1
Number of shares per warrant | shares	1	1

Subsequent events - options iss

Subsequent events - options issued (Details) - Options issued - Stock options	Mar. 04, 2024 shares $ / shares
Subsequent events
Options to purchase common shares issued | shares	39,483
Exercisable price | $ / shares	$ 4.50
Expiration term	5 years

Subsequent events - warrants (D

Subsequent events - warrants (Details) - $ / shares		1 Months Ended
	Mar. 11, 2024	Oct. 31, 2022	Oct. 31, 2021	Feb. 28, 2021
Subsequent events
Warrants issued		583,332	286,355	204,710
Original exercise price		$ 10.98	$ 42.93	$ 42.26
Amending exercise price of warrants
Subsequent events
Outstanding common share purchase warrants	1,074,397
Exercise price of warrants	$ 5
Minimum consecutive trading days to determine price of share	10 days
Threshold price of the common shares for accelerated warrants	$ 6.50
Exercise period of warrants	30 days
Term after last premium trading day for starting of exercise period of warrant	7 days
Amending exercise price of warrants | Minimum
Subsequent events
Original exercise price		5	5	5
Amending exercise price of warrants | Maximum
Subsequent events
Original exercise price		$ 10.98	$ 42.93	$ 42.26