Aptose Biosciences (APTO) 10-K 26 Mar 24 2023 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 26, 2024	Jun. 30, 2023
Cover [Abstract]
Entity Central Index Key	0000882361
Entity Registrant Name	Aptose Biosciences Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Securities Act File Number	001-32001
Entity Incorporation, State or Country Code	Z4
Entity Tax Identification Number	98-1136802
Entity Address, Address Line One	251 Consumers Road, Suite 1105
Entity Address, City or Town	Toronto
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	M2J 4R3
City Area Code	647
Local Phone Number	479-9828
Title of 12(b) Security	Common Shares, no par value
Trading Symbol	APTO
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 Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 29,584,561
Entity Common Stock, Shares Outstanding		15,717,701
Documents Incorporated by Reference [Text Block]	DOCUMENTS INCORPORATED BY REFERENCE Portions of our Proxy Statement for our 2023 Annual Meeting of Stockholders (the “Proxy Statement”), are incorporated by reference in Part III.
Auditor Name	KPMG LLP
Auditor Location	Vaughan, Canada
Auditor Firm ID	85

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 9,252	$ 36,970
Investments		9,989
Prepaid expenses	2,042	2,303
Other current assets	600	257
Total current assets	11,894	49,519
Non-current assets:
Property, plant and equipment, net	152	211
Right-of-use assets, operating leases	943	1,297
Total non-current assets	1,095	1,508
Total assets	12,989	51,027
Current liabilities:
Accounts payable to related party	2,554	2,984
Accounts payable	3,492	3,342
Accrued liabilities to related party		572
Accrued liabilities	8,829	5,085
Current portion of lease liability, operating leases	394	301
Total current liabilities	15,269	12,284
Non-current liabilities:
Lease liability, operating leases	621	1,002
Total liabilities	15,890	13,286
Shareholders' equity:
Common shares, no par value, unlimited authorized shares, 7,942,363 and 6,157,749 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively	444,806	437,520
Additional paid-in capital	72,146	68,869
Accumulated other comprehensive loss	(4,316)	(4,318)
Deficit	(515,537)	(464,330)
Total shareholders’ equity	(2,901)	37,741
Total liabilities and shareholders’ equity	$ 12,989	$ 51,027

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Parentheticals) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Share issued	7,942,363	6,157,749
Common Stock, Shares Outstanding	7,942,363	6,157,749

Consolidated Statements of Loss

Consolidated Statements of Loss and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenue	$ 0	$ 0
Expenses:
Research and development, related party	3,492	3,556
Research and development	33,273	24,532
General and administrative	15,591	14,514
Operating expenses	52,356	42,602
Other income :
Interest income	1,151	788
Foreign exchange loss	(2)	(9)
Total other income	1,149	779
Net loss	(51,207)	(41,823)
Other comprehensive loss:
Unrealized gain (loss) on securities available-for-sale securities	2	(2)
Total comprehensive loss	$ (51,205)	$ (41,825)
Basic loss per common share	$ (7.58)	$ (6.8)
Diluted loss per common share	$ (7.58)	$ (6.8)
Weighted average number of common shares outstanding used in the calculation of basic per share (in shares)	6,755	6,151
Weighted average number of common shares outstanding used in the calculation of diluted loss per share (in shares)	6,755	6,151

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	The 2020 ATM Offering [Member]	The 2020 ATM Offering [Member] Common Stock [Member]	The 2022 Atm Offering [Member]	The 2022 Atm Offering [Member] Common Stock [Member]	2023 Committed Equity Facility [Member]	2023 Committed Equity Facility [Member] Common Stock [Member]
Balance (in shares) at Dec. 31, 2021		6,147,000
Balance at Dec. 31, 2021	$ 74,236	$ 437,386	$ 63,673	$ (4,316)	$ (422,507)
Common shares issued under the October 2022 ATM/ May 2020 ATM/ 2023 Committed Equity Facility (in shares)						3,646	4,000	4,836	5,000
Common shares issued under the October 2022 ATM/ May 2020 ATM/ 2023 Committed Equity Facility						$ 50	$ 50	$ 51	$ 51
Common shares issued upon exercise of stock options (in shares)	1,000	1,000
Common shares issued upon exercise of stock options	$ 15	$ 26	(11)
Stock-based compensation	$ 5,207		5,207
Common shares issued under the ESPP plan (Shares)	724	1,000
Common shares issued under the ESPP plan	$ 7	$ 7
Other comprehensive gain / loss	(2)			(2)
Net loss	(41,823)				(41,823)
Balance (in shares) at Dec. 31, 2022		6,158,000
Balance at Dec. 31, 2022	37,741	$ 437,520	68,869	(4,318)	(464,330)
Common shares issued under the Hanmi Subscription Agreement (in shares)		668,000
Common shares issued under the Hanmi Subscription Agreement	$ 2,989	$ 2,989
Common shares issued in exchange for RSUs (in shares)		38,000
Common shares issued in exchange for RSUs		$ 376	(376)
Common shares issued under the October 2022 ATM/ May 2020 ATM/ 2023 Committed Equity Facility (in shares)								336,690	337,000		735,000
Common shares issued under the October 2022 ATM/ May 2020 ATM/ 2023 Committed Equity Facility								$ 1,809	$ 1,809	$ 2,083	$ 2,083
Common shares issued upon exercise of stock options (in shares)	0
Stock-based compensation	$ 3,653		3,653
Common shares issued under the ESPP plan (Shares)	5,891	6,000
Common shares issued under the ESPP plan	$ 29	$ 29
Other comprehensive gain / loss	2			2
Net loss	(51,207)				(51,207)
Balance (in shares) at Dec. 31, 2023		7,942,000
Balance at Dec. 31, 2023	$ (2,901)	$ 444,806	$ 72,146	$ (4,316)	$ (515,537)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended				12 Months Ended		13 Months Ended
	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023
Cash flows from operating activities:
Net loss	$ (11,955,000)	$ (13,676,000)	$ (10,000,000)	$ (11,481,000)	$ (51,207,000)	$ (41,823,000)
Items not involving cash:
Stock-based compensation					3,653,000	5,207,000
Depreciation and amortization					88,000	120,000
Disposal of property and equipment					0	16,000
Amortization of right-of-use assets					378,000	408,000
Interest on lease liabilities					93,000	35,000
Unrealized foreign exchange gain/(loss)					0	4,000
Accrued interest on investments					0	(60,000)
Change in operating working capital:
Prepaid expenses					261,000	173,000
Operating lease payments					(405,000)	(546,000)
Other assets					(343,000)	(124,000)
Accounts payable, related party					(430,000)	2,984,000
Accounts payable					150,000	4,627,000
Accrued liabilities, related party					(572,000)	572,000
Accrued liabilities					3,744,000	(3,915,000)
Cash used in operating activities					(44,590,000)	(32,322,000)
Cash flows from financing activities:
Issuance of common shares pursuant to exercise of stock options					0	15,000
Cash provided by financing activities					6,910,000	116,000
Cash flows from (used in) investing activities:
Maturity (acquisition) of investments, net					9,989,000	30,090,000
Purchase of property and equipment					(29,000)	(24,000)
Cash provided by (used in) investing activities					9,960,000	30,066,000
Effect of exchange rate fluctuations on cash and cash equivalents held					2,000	(4,000)
Decrease in cash and cash equivalents					(27,718,000)	(2,144,000)
Cash and cash equivalents, beginning of year		$ 36,970,000		$ 39,114,000	36,970,000	39,114,000
Cash and cash equivalents, end of year	$ 9,252,000		$ 36,970,000		9,252,000	36,970,000	$ 9,252,000
Hanmi [Member]
Cash flows from financing activities:
Issuance of common shares					2,989,000	0
2023 Committed Equity Facility [Member]
Cash flows from financing activities:
Issuance of common shares					2,083,000	0
The 2022 ATM Offering [Member]
Cash flows from financing activities:
Issuance of common shares					1,809,000	51,000	$ 1,900,000
The 2020 ATM Offering [Member]
Cash flows from financing activities:
Issuance of common shares					0	50,000
ESPP [Member]
Cash flows from financing activities:
Issuance of common shares					$ 29,000	$ 0

Note 1 - Reporting Entity

Note 1 - Reporting Entity	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Reporting entity	1 . Reporting entity: Aptose Biosciences Inc. (“Aptose,” “the Company,” “we,” “us,” or “our”) is a science-driven, clinical-stage biotechnology company committed to the development and commercialization of precision medicines addressing unmet clinical needs in oncology, with an initial focus on hematology. The Company's small molecule cancer therapeutics pipeline includes products designed to provide single agent efficacy and to enhance the efficacy of other anti-cancer therapies and regimens without overlapping toxicities. The Company’s executive office is located in San Diego, California, and our head office is located in Toronto, Canada. We are advancing targeted agents to treat life-threatening hematologic cancers that, in most cases, are not elective for patients and require immediate treatment. We have two clinical-stage investigational products for hematological malignancies: tuspetinib, an oral, potent myeloid kinase inhibitor, and luxeptinib, an oral, dual lymphoid and myeloid kinase inhibitor. Since our inception, we have financed our operations and technology acquisitions primarily from equity financing, proceeds from the exercise of warrants and stock options, and interest income on funds held for future investment. Our uses of cash for operating activities have primarily consisted of salaries and wages for our employees, facility and facility-related costs for our offices and laboratories, fees paid in connection with preclinical and clinical studies, licensing fees, drug manufacturing costs, laboratory supplies and materials, and professional fees. Management recognizes that in order for us to meet our capital requirements, and continue to operate, additional financing will be necessary. We plan to raise additional funds to fund our business operations but there is no assurance that such additional funds will be available for us to finance our operations on acceptable terms, if at all. These conditions raise substantial doubt about the Company’s ability to continue as a going concern, see Note 2(a), Going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. In order for the Company to meet its capital requirements, and continue to operate, additional financing will be necessary. The Company is evaluating strategies to obtain the required additional funding for future operations. These strategies may include, but are not limited to, obtaining equity financing, and restructuring of operations to decrease expenses. However, given the impact of the economic downturn on the U.S. and global financial markets, the Company may be unable to access further equity or when needed. As such, there can be no assurance that the Company will be able to obtain additional liquidity when needed or under acceptable terms, if at all. The consolidated financial statements do not reflect any adjustments to the carrying amounts and classification of assets, liabilities, and reported expenses that may be necessary if the Company were unable to continue as a going concern. Such adjustments may be material. Our ability to raise additional funds could be affected by adverse market conditions, the status of our product pipeline, possible delays in enrollment in our trial, and various other factors and we may be unable to raise capital when needed, or on terms favorable to us. If necessary funds are not available, we may have to delay, reduce the scope of, or eliminate some of our development programs, potentially delaying the time to market for any of our product candidates. We do not expect to generate positive cash flow from operations for the foreseeable future due to the early stage of our clinical trials. It is expected that negative cash flow will continue until such time, if ever, that we receive regulatory approval to commercialize any of our products under development and/or royalty or milestone revenue from any such products exceeds expenses. Our cash needs for the next twelve months include estimates of the number of patients and rate of enrollment of our clinical trials, the amount of drug product that we will require to support our clinical trials, and our general corporate overhead costs to support our operations, and our reliance on our manufacturers. We have based these estimates on assumptions and plans which may change and which could impact the magnitude and/or timing of operating expenses and our cash runway, See Note 2(a), Going concern. The Company's financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. As of December 31, 2023, the Company had an accumulated deficit of approximately $ 515.5 million (December 31, 2022, $ 464.3 million); cash and cash equivalents and investment balances of approximately $ 9.3 million (December 31, 2022, $ 47.0 million); negative working capital of approximately $ 3.4 million (December 31, 2022, positive working capital of $ 37.2 million); and negative shareholder's equity of $ 2.9 million (December 31, 2022, positive shareholder's equity of $ 37.7 million). Management recognizes that in order to meet the capital requirements, and continue to operate, additional financing will be necessary. The Company plans to raise additional funds to fund our business operations through equity financing under the 2022 ATM Facility, the 2023 Committed Equity Facility and other facilities, as further described in Note 12. Management continues considering other options for raising capital including debt, equity, collaborations, and reorganization to reduce operational expenses. However, given the impact of the financial markets, and the matter in Note 17, Subsequent events, that may impact the Company's ability to raise financing in the capital markets, the Company may be unable to access financing when needed, if at all. As such, there can be no assurance that the Company will be able to obtain additional liquidity when needed or under acceptable terms, if at all. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. For information about financing events and the regulatory matter that may impact the Company's ability to raise financing in the capital markets which arose subsequent to December 31, 2023, see Note 17, Subsequent events. On May 23, 2023, during the Aptose Annual and Special Meeting of Shareholders, our shareholders voted to approve special resolutions providing for an amendment to our articles of incorporation to effect a reverse share split of our outstanding Common Shares, at a ratio in the range of 1-for-10 to 1-for-20. Our Board of Directors then approved a ratio of 1-for-15 on May 23, 2023. On May 24, 2023, we filed articles of amendment under the Canada Business Corporations Act ("CBCA") to give effect to the reverse stock split (consolidation) of our Common Shares on the basis of one post-consolidation Common Share for each 15 pre-consolidation Common Shares (the “Reverse Stock Split”). The Common Shares commenced trading on a post-Reverse Stock Split basis at market open on Tuesday, June 6, 2023. All references in this report to historical Common Share prices, numbers of Common Shares, and earnings per share calculations have been presented to reflect the effect of the Reverse Stock Split.

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Notes To Financial Statements [Abstract]
Significant accounting policies	2. Significant accounting policies (a) Basis of presentation - Going concern These consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States, or GAAP and the rules and regulations of the Securities and Exchange Commission, or SEC, related to annual reports filed on Form 10-K, assuming the Company will continue as a going concern. The going concern assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. However, substantial doubt about the Company's ability to continue as a going concern exists. As of the filing date, we have sufficient liquidity to support the Company's operations until August 2024. In order for the Company to meet its capital requirements, and continue to operate, additional financing will be necessary. The Company is evaluating strategies to obtain the required additional funding for future operations. These strategies may include, but are not limited to, obtaining equity financing, and restructuring of operations to decrease expenses. However, given the challenges in the U.S. and global financial markets, and the matter in Note 17, Subsequent events, that may impact the Company's ability to raise financing in the capital markets, the Company may be unable to access further equity or when needed, if at all. As the Company is primarily pursuing one compound that is licensed from a related party with significant licensing payments who will have influence on the Company, other investors may not be willing to invest in the Company. As such, there can be no assurance that the Company will be able to obtain additional liquidity when needed or under acceptable terms, if at all. The consolidated financial statements do not reflect any adjustments to the carrying amounts and classification of assets, liabilities, and reported expenses that may be necessary if the Company were unable to continue as a going concern. Such adjustments may be material. The functional and presentation currency of the Company is the US dollar. (b) Basis of consolidation: These consolidated financial statements include the accounts of its subsidiaries. All intercompany transactions, balances, revenue, and expenses are eliminated on consolidation. (c) Significant accounting policies, estimates and judgments The preparation of the consolidated financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting period. Actual outcomes could differ from those estimates. The consolidated financial statements contain estimates, which by their nature, are uncertain. The impacts of such estimates are pervasive throughout the consolidated financial statements and may require accounting adjustments based on future occurrences. The estimates and underlying assumptions are reviewed on a regular basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised and in any future periods affected. (d) Leases The Company’s operating leases of tangible property with terms greater than twelve months are recognized as right of use assets, which represents the lessee’s right to use, or control the use of, a specified asset for the lease term, and a corresponding lease liability, which represents the lessee’s obligation to make lease payments under a lease, measured on a discounted basis. Landlord inducements in the form of free rent periods are netted against lease payments to the landlord in measuring right-of-use assets and lease liabilities. (e) Cash and cash equivalents: Cash and cash equivalents are short-term highly liquid investments with original maturities of 90 days or less as of the date of purchase. Cash equivalents are accounted for an amortized cost basis, which approximates their fair value due to their short-term maturities. (f) Investments: Investments consist of term deposits with original maturities greater than 90 days and are classified by management as securities available-for-sale. These available-for-sale securities are recorded at estimated fair values. Unrealized gains and losses on these investments are recorded in accumulated other comprehensive income (AOCI) in shareholder’s equity. Realized gains and losses and declines in value that are judged to be other than temporary are included in interest income. (g) Concentration of risk: The Company is subject to credit risk from the Company’s cash and cash equivalents and investments. The carrying amount of the financial assets represents the maximum credit exposure. The Company manages credit risk associated with its cash and cash equivalents and investments by maintaining minimum standards of R1‑low or A‑low investments and the Company invests only in highly rated corporations and treasury bills, which are capable of prompt liquidation. The Company has cash accounts in Canada and the US. The Canada Deposit Insurance Corporation (CDIC) and the US Federal Deposit Insurance Corporation (FDIC) provide insurance to protect depositors against the loss of their deposits in case of a bank failure. However, the maximum amount of coverage varies by jurisdiction and account type. In Canada, the CDIC insures eligible deposits up to $ 100,000 (CAD) per depositor, per insured category, per member institution. In the United States, the FDIC insures deposits up to $ 250,000 per depositor, per insured bank, for each account ownership category. It is important to note that not all deposits are eligible for insurance coverage. For example, deposits in foreign currency, deposits held in trust, and investments such as mutual funds, stocks, and bonds are not insured by either the FDIC or CDIC. The Company is subject to intermediary risk associated with the actions of financial intermediaries, such as banks or investment managers, who act on behalf of clients to buy and sell assets. The Company has diversified the investments with two large financial institutions to reduce the concentration of risk in any one institution, and spread the risk. This measure reduces the likelihood of being significantly impacted by the failure of a single financial institution. The Company has reduced the exposure to individual investment vehicles to minimize the risk of loss in case of adverse events. The Company has diversified the investment portfolio across different asset classes and investment vehicles to achieve this goal. (h) Property and equipment: Property and equipment is measured at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditures that are directly attributable to the acquisition of the asset. The Company records depreciation at rates that charge operations with the cost of the assets over their estimated useful lives on a straight‑line basis as follows: Office furniture 5 years Laboratory equipment 5 years Computer hardware 3 years Computer software 3 years Leasehold improvements Life of lease The residual value, useful life and methods of depreciation of the assets are reviewed at each reporting period and adjusted prospectively if appropriate. (i) Research and development: Research and development (R&D) costs are expensed as incurred. R&D costs consist primarily of salaries and benefits, stock-based compensation, manufacturing, contract services, clinical trials and research related overhead. Non-refundable advance payments for goods and services that will be used in future research are recorded in prepaid and other assets and are expensed when the services are performed. The Company records expenses for research and development activities based on Management’s estimates of services received and efforts expended pursuant to contracts with vendors that conduct research and development on the Company’s behalf. The financial terms vary from contract to contract and may result in uneven payment flows as compared with services performed or products delivered. As a result, the Company is required to estimate research and development expenses incurred during the period, which impacts the amount of accrued expenses and prepaid balances related to such costs as of each balance sheet date. Management estimates the amount of work completed through discussions with internal personnel and the contract research and contract manufacturing organizations as to the progress or stage of completion of the services. The Company’s estimates are based on a number of factors, including the Company’s knowledge of the status of each of the research and development project milestones, and contract terms together with related executed change orders. Management makes significant judgments and estimates in determining the accrued balance at the end of each reporting period. (j) Fair value: The Company measures its financial assets and liabilities at fair value. The carrying amounts for the Company’s financial instruments, including cash and cash equivalents, accounts payable and accrued liabilities approximate their fair value due to their short maturities. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. (k) Stock-based compensation: The Company has a stock‑based compensation plan (the “Plan”) available to officers, directors, employees, and consultants with grants under the Plan approved by the Company’s Board of Directors. Under the Plan, the exercise price of each option equals the closing trading price of the Company’s stock on the day prior to the grant if the grant is made during the trading day or the closing trading price on the day of the grant if the grant is issued after markets have closed. Vesting is provided for at the discretion of the Board of Directors and the expiration of options is to be no greater than 10 years from the date of grant. The Company uses the fair value based method of accounting for employee awards granted under the Plan. The Company calculates the fair value of each stock option grant using the Black‑Scholes option pricing model at the grant date. The stock‑based compensation cost of the options is recognized as stock‑based compensation expense over the relevant vesting period of the stock options using an estimate of the number of options that will eventually vest. Stock options awarded to non‑employees are measured at the grant-date fair value of the equity instruments issued in accordance with FASB accounting standards update No 2018-07, Topic 718. The Company has a stock incentive plan pursuant to which the Board may grant equity settled stock‑based awards comprised of restricted stock units or dividend equivalents to employees, officers, consultants, independent contractors, advisors and non‑employee directors of the Company. Compensation cost for restricted share units is measured at fair value at the date of grant, which is the market price of the underlying security, and is expensed over the award’s vesting period on a straight-line basis using an estimate of the number of awards that will eventually vest. (l) Segment reporting: Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker, or CODM. The Company’s Chief Executive Officer serves as its CODM. The Company views its operations and manages its business as one segment, which is the discovery and development of personalized therapies addressing unmet medical needs in oncology. The Company operates primarily in the U.S. (m) Loss per share: Basic loss per share is computed by dividing the net loss available to common shareholders by the weighted average number of shares outstanding during the year. Diluted loss per share is computed similarly to basic loss per share except that the weighted average share outstanding is increased to include additional shares for the assumed exercise of stock options and warrants, if dilutive. The number of additional shares is calculated by assuming that outstanding stock options and warrants were exercised and that the proceeds from such exercises were used to acquire common stock at the average market price during the year. The inclusion of the Company’s stock options and warrants in the computation of diluted loss per share has an anti‑dilutive effect on the loss per share and, therefore, they have been excluded from the calculation of diluted loss per share. (n) Income taxes: The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which these temporary differences are expected to be recovered or settled. Valuation allowances are provided if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company provides reserves for potential payments of tax to various tax authorities related to uncertain tax positions and other issues. Reserves are based on a determination of whether and how much of a tax benefit taken by the Company in its tax filing is more likely than not to be realized following resolution of any potential contingencies present related to the tax benefit. Potential interest and penalties associated with such uncertain tax positions are recorded as components of income tax expense. As of December 31, 2023 and December 31, 2022, the Company has not recorded any reserves for potential payments as the Company has a history of losses and does not have any revenue from operations. (o) Recent Accounting Pronouncements There were various accounting standards and interpretations issued recently, none of which are expected to have a material impact on our financial position, operations, or cash flows.

Note 3 - Cash and Cash Equivale

Note 3 - Cash and Cash Equivalents	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Cash and cash equivalents	3. Cash and cash equivalents: Cash and cash equivalents consists of cash of $ 2,764 thousand (December 31, 2022 ‑ $ 596 thousand) and deposits in high interest savings accounts, money market funds and accounts with original maturities less than 90 days totaling $ 6,488 thousand (December 31, 2022 ‑ $ 36,374 thousand).

Note 4 - Prepaid Expenses

Note 4 - Prepaid Expenses	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Prepaid expenses	4. Prepaid expenses: December 31, December 31, Prepaid research and development expenses $ 720 $ 1,271 Prepaid insurance 882 893 Other prepaid expenses 440 139 Total $ 2,042 $ 2,303

Note 5 - Property and Equipment

Note 5 - Property and Equipment	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Property and equipment	5. Property and equipment: December 31, 2023 Cost Accumulated Net book value Laboratory equipment $ 197 $ 87 $ 110 Computer hardware 29 25 4 Computer software 222 222 0 Office furniture 140 132 8 Leasehold improvements 213 183 30 Total $ 801 $ 649 $ 152 December 31, 2022 Cost Accumulated Net book value Laboratory equipment $ 197 $ 48 $ 149 Computer hardware 198 177 21 Computer software 222 222 — Office furniture 140 117 23 Leasehold improvements 184 166 18 Total $ 941 $ 730 $ 211 In the year ended December 31, 2022, the company recorded a loss on disposition of fixed assets of $ 16 thousand, with these assets having had an original cost of $ 196 thousand and accumulated depreciation of $ 180 thousand. There was no loss on disposition of fixed assets in the year ended December 31, 2023. In the years ended December 31, 2023 and December 31, 2022, the Company had additions to fixed assets of $ 29 thousand and $ 24 thousand, respectively.

Note 6 - Right-of-use Assets, O

Note 6 - Right-of-use Assets, Operating Leases	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Right-of-use assets, operating leases	6. Right-of-use assets, operating leases: Year ended December 31, 2023 Year ended December 31, 2022 Right-of-use assets, beginning of year $ 3,100 $ 1,860 Additions to right-of-use assets 24 1,240 Right-of-use assets, end of year 3,124 3,100 Accumulated amortization ( 2,181 ) ( 1,803 ) Right-of use assets, NBV $ 943 $ 1,297

Note 7 - Investments

Note 7 - Investments	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Investments	7. Investments: Investments consisted of the following as of December 31, 2023 and December 31, 2022: December 31, 2023 Cost Unrealized loss Market value United States Treasury Bills $ — $ — $ — Total $ — $ — $ — December 31, 2022 Cost Unrealized gain Market value United States Treasury Bills $ 9,991 $ ( 2 ) $ 9,989 Total $ 9,991 $ ( 2 ) $ 9,989

Note 8 - Fair Value Measurement

Note 8 - Fair Value Measurements and Financial Instruments	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Fair value measurements and financial instruments	8. Fair value measurements and financial instruments: The fair value hierarchy establishes three levels to classify the inputs to valuation techniques used to measure fair value. Level 1 ‑ inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 ‑ inputs are quoted prices in markets that are not active, quoted prices for similar assets or liabilities in active markets, inputs other than quoted prices that are observable for the asset or liability, or inputs that are derived principally from or corroborated by observable market data or other means; and Level 3 ‑ inputs are unobservable (supported by little or no market activity). The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. The following table presents the fair value of the Company’s financial instruments for the periods presented: December 31, Level 1 Level 2 Level 3 Assets High interest savings accounts $ 2,002 $ — $ 2,002 $ — United States Treasury Bills 4,486 — 4,486 — Total $ 6,488 $ — $ 6,488 $ — December 31, Level 1 Level 2 Level 3 Assets Money Market accounts $ 165 $ — $ 165 $ — Money Market Funds 22,343 — 22,343 — High interest savings accounts 13,866 — 13,866 — United States Treasury Bills 9,989 — 9,989 — Total $ 46,363 $ — $ 46,363 $ —

Note 9 - Accrued Liabilities

Note 9 - Accrued Liabilities	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Accrued liabilities	9. Accrued liabilities: Accrued liabilities as of December 31, 2023 and December 31, 2022 consisted of the following: December 31, December 31, Accrued personnel-related costs $ 1,989 $ 2,302 Accrued research and development expenses 6,527 2,550 Other accrued expenses 313 233 Total $ 8,829 $ 5,085

Note 10 - Lease Liability

Note 10 - Lease Liability	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Lease liability	10. Lease liability Aptose leases office space in San Diego, California and Toronto, Canada. The lease for the San Diego office space is scheduled to expire in May 31, 2026. Aptose previously leased lab space in San Diego, which we exited prior to the expiration of the lease on February 28, 2023. The costs incurred in exiting this laboratory space were not material. We lease office space in Toronto, Ontario, Canada, with this lease scheduled to expire on June 30, 2024. The Company has not included any extension periods in calculating its right-to-use assets and lease liabilities. The Company also enters into leases for small office equipment. Minimum payments, undiscounted, under our operating leases are as follows: Years ending December 31, 2024 459 2025 462 2026 198 Total $ 1,119 To calculate the lease liability, the lease payments in the table above were discounted over the remaining term of the leases using the Company’s incremental borrowing rate as of January 1, 2019 for existing leases at the time of adopting ASC 842 , and for new leases after the date adoption, as of the date of the execution date of the new lease. The following table presents the weighted average remaining term of the leases and the weighted average discount rate: December 31, December 31, Weighted-average remaining term – operating 2.4 3.3 Weighted-average discount rate – operating 7.38 % 6.62 % Lease liability, current portion $ 394 $ 301 Lease liability, long term portion 621 1,002 Lease liability, total $ 1,015 $ 1,303 Operating lease costs and operating cash flows from our operating leases are as follows: Year ended Year ended Operating lease cost $ 471 $ 443 Operating cash flows from operating leases $ 405 $ 546

Note 11 - Related Party Transac

Note 11 - Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related party transactions	11. Related party transactions Hanmi Pharmaceutical Co. Ltd. On November 4, 2021, Aptose entered into a licensing agreement (the "Tuspetinib Licensing Agreement") with the South Korean company Hanmi. Under the terms of the Tuspetinib Licensing Agreement, Hanmi granted Aptose exclusive worldwide rights to tuspetinib for all indications. Hanmi received an upfront payment of $ 12.5 million, including $ 5 million in cash and $ 7.5 million in Common Shares. Aptose issued Hanmi 215,703 Common Shares in this upfront licensing payment. Hanmi will also receive up to $ 407.5 million in future milestone payments contingent upon achieving certain clinical, regulatory and sales milestones across several potential indications, as well as tiered royalties on net sales. The term of the agreement will continue on a product-by-product and country-by-country basis until the expiration of the royalty period for such product in such country. The licenses to Aptose will survive and become non-exclusive, perpetual, irrevocable and fully paid-up on a product-by-product and country-by-country basis, upon their natural expiration under the terms of the agreement. In 2022, the Company and Hanmi also entered into a separate supply agreement for additional production of new drug substance ("API") and drug product to support further tuspetinib clinical development, for which the Company pays Hanmi per batch of production. Expenses related to this supply agreement have been recognized by the Company, amounting to $ 3.5 million and approximately $ 3.6 million, for the years ended December 31, 2023 and 2022, respectively. Since inception to December 31, 2023, $ 7.1 million has been recognized for the period under the supply agreement. The Company paid supply costs to Hanmi of $ 4.5 million and nil in the years ended December 31, 2023 and 2022, respectively. Since inception to December 31, 2023, payments of $ 4.5 million have been made under the supply agreem ent. At December 31, 2023, there was $ 2.6 million in accounts payable and nil in accrued liabilities to Hanmi related to the supply agreement. (At December 31, 2022, there was $ 3.0 million in accounts payable and $ 0.6 million in accrued liabilities). Transactions involving re lated parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. On August 10, 2023, the Company entered into a binding term sheet with Hanmi whereby Hanmi agreed at their sole discretion to invest, up to a maximum of $ 7 million in Aptose up to a total ownership of 19.99 percent of Aptose by Hanmi. On September 6, 2023, the Company entered into a subscription agreement with Hanmi, pursuant to which the Company sold 668,449 Common Shares to Hanmi for gross proceeds of $ 3 million. The issuance of shares, in exchange for gross proceeds of $ 3 million, is recorded in Common Shares on the balance sheet as of December 31, 2023. For information regarding Hanmi's investment subsequent to December 31, 2023, see Note 17, Subsequent events. Hanmi held 884,152 Common Shares of Aptose as of December 31, 2023. As of the filing date, the total common share ownership by Hanmi was 2,989,414 , representing ownership of 19.03 % of the outstanding Common Shares of the Company. Hanmi also owns 2,339,181 warrants to purchase Common Shares at an exchange price of $ 1.71 per Warrant Share. See Note 17, Subsequent events for information about shares sold to Hanmi subsequent to December 31, 2023 and the Nasdaq Deficiency Letter.

Note 12 - Share Capital

Note 12 - Share Capital	12 Months Ended
	Dec. 31, 2023
Disclosure Text Block [Abstract]
Share capital	12. Share capital: The Company has authorized share capital of an unlimited number of common voting shares. (a) Equity issuances: (i) Hanmi On August 10, 2023, the Company entered into a binding term sheet with Hanmi whereby Hanmi agreed at their sole discretion to invest, up to a maximum of $ 7 million in Aptose up to a total ownership of 19.99 percent of Aptose by Hanmi. On September 6, 2023, the Company entered into a subscription agreement with Hanmi, pursuant to which the Company sold 668,449 Common Shares to Hanmi for proceeds of $ 3 million. Hanmi held 884,152 Common Shares of Aptose as of December 31, 2023 See Note 17, Subsequent events. (ii) 2023 Committed Equity Facility On May 25, 2023, the Company and Keystone Capital Partners, LLC ("Keystone") entered into a committed equity facility, (the "2023 Committed Equity Facility"), which provides that subject to the terms and conditions set forth therein, we may sell to Keystone up to the lesser of (i) $ 25.0 million of the Common Shares and (ii) a number of Common Shares equal to 19.99 % of the Common Shares outstanding immediately prior to the execution of the 2023 Committed Equity Facility Agreement with Keystone which respect to the 2023 Committed Equity Facility (subject to certain exceptions) (the “Total Commitment”), from time to time during the 24-month term of the 2023 Committed Equity Facility. Additionally, on May 25, 2023, the Company entered into a Registration Rights Agreement with Keystone, pursuant to which the Company agreed to file a registration statement with the SEC covering the resale of Common Shares that are issued to Keystone under the 2023 Committed Equity Facility. This registration statement became effective on June 30, 2023 and the 2023 Committed Equity Facility commencement date was July 12, 2023 (the "Commencement Date"). Upon entering into the 2023 Committed Equity Facility, the Company agreed to issue to Keystone an aggregate of 25,156 Common Shares (the “Commitment Shares”) as consideration for Keystone’s commitment to purchase Common Shares upon the Company’s direction under the 2023 Committed Equity Facility. The Company issued 7,547 Common Shares, or 30 % of the Commitment Shares, on the date of the 2023 Committed Equity Facility Agreement (the “Initial Commitment Shares”). An additional 7,547 Common Shares, or 30 % of the Commitment Shares, were issued to Keystone 90 days following the Commencement Date (the “First Back-End Commitment Shares”). The remaining 10,062 Common Shares, or 40 % of the Commitment Shares, shall be issued to Keystone 180 days following the Commencement Date (the “Second Back-End Commitment Shares”, together with the First Back-End Commitment Shares, the “Back-End Commitment Shares”). See Note 17, Subsequent events. In the year ended December 31, 2023, the Company's issuance of Common Shares to Keystone comprised 720,494 Common shares sold to Keystone at an average price of $ 2.91 per Common share for cash proceeds of $ 2.1 million and the 15,094 Commitment Shares. See Note 17, Subsequent events. (iii) 2022 At-The-Market Facility On December 9, 2022, the Company entered into an equity distribution agreement pursuant to which the Company may, from time to time, sell Common Shares having an aggregate offering value of up to $ 50 million through Jones Trading Institutional Services LLC ("Jones Trading") on Nasdaq (the "2022 ATM Facility"). During the year ended December 31, 2022, the Company issued 4,836 Common Shares under this 2022 ATM Facility at an average price of $ 10.81 per Common Share for gross proceeds of $ 52 thousand ($ 51 thousand net of share issuance costs). During the year ended December 31, 2023, the Company issued 336,690 Common Shares under this 2022 ATM Facility at an average price of $ 5.62 for gross proceeds of $ 1.9 million ($ 1.8 million net of share issuance costs). Since inception to December 31, 2023, the Company had raised a total of $ 1.9 million gross proceeds ($ 1.9 million net of share issuance costs) under the 2022 ATM Facility. Costs associated with the proceeds consisted of 3 % cash commission. (iv) 2020 At-The-Market Facility On May 5, 2020, the Company entered an “at-the-market” equity distribution agreement with Piper Sandler & Co. (“Piper Sandler”) and Canaccord Genuity LLC (“Canaccord Genuity”) acting as co-agents (the “2020 ATM Facility”). Under the terms of the 2020 ATM Facility, the Company could, from time to time, sell Common Shares having an aggregate offering value of up to $ 75 million through Piper Sandler and Canaccord Genuity on Nasdaq. During the period from January 1, 2022 to October 31, 2022, the date the Agreement was terminated, the company issued During the year ended December 31, 2022, the Company issued 3,646 Common Shares under the 2020 ATM Facility at an average price of $ 14.25 per Common Share for gross proceeds of $ 52 thousand ($ 50 thousand net of share issuance costs). As of October 31, 2022, the date the 2020 ATM Facility was terminated, the Company had raised a total of $ 89 thousand gross proceeds ($ 86 thousand net of share issuance costs) under the 2020 ATM Facility. Costs associated with the proceeds consisted of a 3 % cash commission. For information regarding recent equity issuances subsequent to December 31, 2023, see Note 17, Subsequent events. (b) Loss per share: Loss per common share is calculated using the weighted average number of Common Shares outstanding and is presented in the table below: (in thousands) Year ended December 31, 2023 Year ended December 31, 2022 Net loss $ ( 51,207 ) $ ( 41,823 ) Weighted-average common shares – basic 6,755 6,151 Net loss per share – basic and diluted $ ( 7.58 ) $ ( 6.80 ) The effect of any potential exercise of the Company’s stock options outstanding during the years ended December 31, 2023 and December 31, 2022 has been excluded from the calculation of diluted loss per common share as it would be anti‑dilutive.

Note 13 - Stock-based Compensat

Note 13 - Stock-based Compensation	12 Months Ended
	Dec. 31, 2023
Notes To Financial Statements [Abstract]
Stock-based compensation	13. Stock‑based compensation: (a) Stock option plan and employee stock purchase plan Effective June 1, 2021, the Company adopted a new stock incentive plan (New Incentive Plan) and an employee stock purchase plan (ESPP). The New Incentive Plan authorizes the Board of Directors to administer the New Incentive Plan to provide equity‑based compensation in the form of stock options, stock appreciation rights., restricted stock, restricted stock units and Dividend Equivalents. The Corporation currently maintains its existing Share Option Plan and 2015 Stock Incentive Plan (2015 SIP). Effective June 1, 2021 no further grants will be made under the Share Option Plan or 2015 SIP, though existing grants under the Share Option Plan will remain in effect in accordance with their terms. The aggregate number of our common shares, no par value, that may be issued under all awards under the New Incentive Plan is (i) 691,400 , plus (ii) any of our Common Shares subject to any outstanding award under our prior plans that, after June 1, 2021, are not purchased or are forfeited or reacquired by us, or otherwise not delivered to the participant due to termination, cancellation or cash settlement of such award subject to the share counting provisions of the New Incentive Plan. Under both the Share Option Plan and the New Incentive Plan, the exercise price of each option equals the closing trading price of the Company’s stock on the day prior to the grant if the grant is made during the trading day or the closing trading price on the day of grant if the grant is issued after markets have closed. Vesting is provided for at the discretion of the Board of Directors and the expiration of options is to be no greater than 10 years from the date of grant. The Company uses the fair value-based method of accounting for employee awards granted under both plans. The Company calculates the fair value of each stock option grant using the Black‑Scholes option pricing model at the grant date. The stock‑based compensation cost of the options is recognized as stock‑based compensation expense over the relevant vesting period of the stock options using an estimate of the number of options that will eventually vest. The ESPP, which is administered by the Board of Directors, allows eligible employees of the Company with an opportunity to purchase Common Shares through accumulated payroll deductions up to a maximum 15 % of eligible compensation. The ESPP will be implemented by consecutive offering periods with a new offering period commencing on the first trading day on or after February 1 and August 1 each year, or on such other date as the Board of Directors will determine, and continuing thereafter until terminated in accordance with the Plan. Unless the Board of Directors provides otherwise, the purchase price will be equal to eighty‑five percent ( 85 %) of the fair market value of a Common Share on the offering date or the exercise date, whichever is lower. The maximum number of Common Shares which will be made available for sale under the ESPP will be 113,333 Common Shares. The first six-month offering period began on February 1, 2022 and ended on August 1, 2022. The second six-month period began on August 1, 2022 and ended on February 1, 2023. The third six-month period began on February 2, 2023, and ended on August 1, 2023. There were 5,891 and 724 Common Shares issued under the ESPP in the years ended December 31, 2023 and 2022, respectively. Stock option transactions for the year ended December 31, 2023 and December 31, 2022, are summarized as follows: Options Weighted average Weighted Aggregate (in thousands) Outstanding, December 31, 2021 1,007 $ 69.15 Granted 420 17.85 Exercised ( 1 ) 16.20 Forfeited ( 326 ) 57.60 Outstanding, December 31, 2022 1,100 $ 52.20 Granted 217 9.87 Exercised 0 Forfeited ( 133 ) 50.87 Outstanding, December 31, 2023 1,184 $ 44.78 6.9 $ — Exercisable, December 31, 2023 714 $ 59.00 5.9 $ — Vested and expected to vest, December 31, 2023 1,099 $ 46.46 6.8 $ — Aggregate intrinsic value represents the excess of the value of the closing stock price on the previous trading day of the respective balance sheet dates over the exercise price of the stock options. Total intrinsic value of options exercised was nil for 2023 (2022 – $ 3 thousand). As of December 31, 2023 , there was $ 1.2 million of total unrecognized compensation cost related to non-vested stock options, which is expected to be recognized over an estimated weighted-average period of 1.7 years. The following table presents the weighted average assumptions that were used in the Black‑Scholes option pricing model to determine the fair value of stock options granted during the period, and the resultant weighted average fair values: Year ended December 31, 2023 Year ended December 31, 2022 Risk-free interest rate 3.42 % 2.17 % Expected dividend yield — — Expected volatility 80.3 % 82.7 % Expected life of options (years) 5 5 Grant date fair value $ 6.53 $ 11.85 The Company uses historical data to estimate the expected dividend yield and expected volatility of its Common Shares in determining the fair value of stock options. The expected life of the options represents the estimated length of time the options are expected to remain outstanding. The following table presents the vesting terms of options granted in the period: Year ended December 31, 2023 Year ended December 31, 2022 Options Options (in thousands) (in thousands) 3-year vesting ( 50 %- 25 %- 25 %) 48 28 4-year vesting ( 50 %- 16 2/3 %- 16 2/3 %- 16 2/3 %) 169 352 Earlier of performance criteria or 4 years — 40 Total stock options granted in the year 217 420 During the year ended December 31, 2022, the option agreements of one Company officer were modified as part of a separation and release agreement. Vested options of 56,737 , with exercise prices ranging from $ 20.1 to $ 103.65 , were allowed to continue to be exercisable for an additional 12 -month period, and also 31,810 options that would have expired unvested, were allowed to continue to vest for a 12 -month period. As there was no service requirement, during the year ended December 31, 2022, the company recorded $ 67 thousand in additional compensation related to these modifications. The Company has a stock incentive plan (SIP) pursuant to which the Board may grant stock-based awards comprised of restricted stock units or dividend equivalents to employees, officers, consultants, independent contractors, advisors and non-employee directors of the Company. Each restricted stock unit ("RSU") is automatically redeemed for one Common Share of the Company upon vesting. During the year ended December 31, 2023, the Company granted 38,000 RSUs with immediate vesting and an exercise price of $ 9.90 (the "2023 RSU Grant"). On February 6, 2023, all of these RSUs were redeemed for 38,000 Common Shares. The following table presents the vesting and redemption of the RSUs granted in the year ended December 31, 2023. No RSUs were granted in the year ended December 31, 2022. Year ended Year ended Number of options Weighted average grant date fair value Number of options Weighted average grant date fair value Outstanding, beginning of period - $ - - $ - Granted 38 9.90 - - Vested and redeemed ( 38 ) ( 9.90 ) - - Outstanding, ending of period - $ - - $ - (b) Share-based payment expense The Company recorded share-based payment expense related to stock options and RSUs as follows: Year ended December 31, 2023 Year ended December 31, 2022 Research and development $ 1,373 $ 2,218 General and administrative 2,280 2,989 Total $ 3,653 $ 5,207

Note 14 - Collaborative Agreeme

Note 14 - Collaborative Agreements	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Collaborative agreements	14. Collaborative agreements: The Company enters into research, development and license agreements in the ordinary course of business where the Company receives research services and rights to proprietary technologies. Milestone and royalty payments that may become due under various agreements are dependent on, among other factors, clinical trials, regulatory approvals and ultimately the successful development of a new drug, the outcome and timing of which is uncertain. On November 4, 2021, the Effective Date, the Company entered into the Tuspetinib Licensing Agreement with Hanmi for global rights to tuspetinib. In consideration of the license and other rights granted, Aptose made an upfront payment to Hanmi in the amount of $ 12.5 million, including $ 5.0 million in cash and $ 7.5 million in Aptose Common Shares (the “Shares”). The number of Shares issued was determined using the average market closing price of the Common Shares on the NASDAQ stock market over the five (5) trading day period ending on the Effective Date. Accordingly, Aptose issued 215,703 shares to Hanmi. Under the Company’s license agreement with Hanmi, the Company has maximum obligations for clinical development and global regulatory milestones totaling $ 64.5 million for the first potential clinical indication of tuspetinib, $ 34 million for the second indication, and $ 29 million for the third indication. The Company has maximum obligations for tiered global sales-based milestones totaling $ 280 million. The Company also has an obligation for tiered royalty payments on global sales of commercialized product. The timing of any milestone or royalty payments that may become due is not yet determinable. On March 21, 2016, the Company entered into a license agreement with CrystalGenomics Invites Co. Ltd. ("CG"), formerly CrystalGenomics, Inc.) for rights to luxeptinib , in all territories outside of the Republic of Korea and China, the Company has obligations for development milestones of $ 16 million related to the initiation of Phase 2 and pivotal clinical trials, and regulatory milestones totaling $ 44 million. The Company also has an obligation to pay royalty payments on sales of commercialized product. The timing of any milestone or royalty payments that may become due is not yet determinable. On June 13, 2018, the Company entered into a license agreement with CG to gain an exclusive license to luxeptinib in China. The Company has potential future obligations of development milestones of $ 6 million related to approval of an Investigational New Drug (“IND”) and to the initiation of Phase 2 and pivotal clinical trials, and regulatory milestones totaling $ 20 million. The Company also has an obligation to pay sales milestones and royalty payments on sales of commercialized product. The timing or likelihood of any milestone or royalty payments that may become due is not yet determinable.

Note 15 - Income Taxes

Note 15 - Income Taxes	12 Months Ended
	Dec. 31, 2023
Notes To Financial Statements [Abstract]
Income taxes	15. Income taxes: (a) Income taxes For the years ended December 31, 2023 and 2022, the total comprehensive loss is as follows: December 31, December 31, Loss attributed to US foreign operations $ ( 45,652 ) $ ( 36,615 ) Loss attributed to Canadian operations ( 5,555 ) ( 5,208 ) Loss before income taxes $ ( 51,207 ) $ ( 41,823 ) (b) Tax rate reconciliation Major items causing the Company’s income tax rate to differ from the statutory rate of approximately 26.5 % (December 31, 2022 – 26.5 %) are as follows: Year ended December 31, 2023 Year ended December 31, 2022 Net loss $ ( 51,207 ) $ ( 41,823 ) Statutory Canadian corporate tax rate 26.5 % 26.5 % Computed expected tax recovery $ ( 13,570 ) $ ( 11,083 ) Non-deductible permanent differences 873 1,376 Change in valuation allowance 13,059 10,821 Foreign tax rate differential ( 677 ) ( 466 ) Prior year true-up adjustments 355 ( 703 ) Other ( 40 ) 55 $ — $ — (c) Significant components of deferred taxes The tax effects of temporary differences that give rise to significant portions of the unrecognized deferred tax assets are presented below: December 31, December 31, Net operating losses carried forward $ 73,552 $ 60,092 Research and development expenditures 5,025 5,023 Property, equipment, and other intangible assets 7,321 7,264 Research and development tax credits 4,930 4,968 Financing costs 431 873 Right-of-use assets 19 2 Total deferred tax assets 91,278 78,222 Valuation allowance ( 91,278 ) ( 78,222 ) Net deferred tax asset $ — $ — The valuation allowance at December 31, 2023 was primarily related to net operating loss carryforwards that, in the judgment of management, are not more-likely than-not to be realized. In assessing the realizability of deferred tax assets, management considers whether it is more-likely-than-not that all or some portion of the deferred assets will not be realized. This ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period in which those deductible temporary difference become deductible. Based on the history of losses and projections for future taxable income, management believes that it is not more-likely than-not that the Company will realize the benefits of these deductible temporary differences (e.g. deferred tax assets). The Company has certain deductible Canadian research and development expenditures that have not been deducted for tax purposes, totaling $ 19.0 million, that can be carried forward indefinitely. The Company also has Canadian non‑refundable federal and provincial investment tax credits of approximately $ 2.4 million which are available to reduce future federal taxes payable and begin to expire in 2024 , as well as non‑refundable US research and development tax credits of approximately $ 3.1 million which are available to reduce future US taxes payable and begin to expire in 2038 . In addition, the Company has Canadian non-capital loss carryforwards of $ 266.2 million. To the extent that the non-capital loss carryforwards are not used, they begin to expire in 2026. The Company also has a US non-capital loss carryforward of $ 1.1 million. To the extent that the non-capital loss carryforwards are not used, they begin to expire in 2034 . The Company files income tax returns with Canada and its provinces and territories. Generally, we are subject to routine examinations by the Canada Revenue Agency ("CRA"). Income tax returns filed with various provincial jurisdictions are generally open to examination for periods of four to five years subsequent to the filing of the respective return. The Company also files income tax returns for our U.S. operations and subsidiary with the U.S. federal and state tax jurisdictions. Generally, we are subject to routine examination by taxing authorities in the U.S. jurisdictions. There are presently no examination of our U.S. federal and U.S. state returns. We believe that our tax positions comply with the applicable tax law.

Note 16 - Selected Quarterly Fi

Note 16 - Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Selected quarterly financial data (unaudited)	16. Selected quarterly financial data (unaudited): Selected financial data (unaudited) for the periods presented was as follows: March 31, June 30, September 30, December 31, Revenue $ — $ — $ — $ — Net loss $ ( 13,676 ) $ ( 14,129 ) $ ( 11,447 ) $ ( 11,955 ) Basic and diluted loss per common share $ ( 2.25 ) $ ( 2.27 ) $ ( 1.76 ) $ ( 1.57 ) March 31, June 30, September 30, December 31, Revenue $ — $ — $ — $ — Net loss $ ( 11,481 ) $ ( 10,565 ) $ ( 9,777 ) $ ( 10,000 ) Basic and diluted loss per common share $ ( 1.81 ) $ ( 1.66 ) $ ( 1.66 ) $ ( 1.67 )

Note 17 - Subsequent Events

Note 17 - Subsequent Events	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Subsequent events	17. Subsequent events Subsequent to the year end, the Company issued 408,168 stock options to directors, officers, employees and consultants with an average exercise price of $ 2.00 . 388,170 stock options vest 50 % after one year and 16.67 % on each of the next three anniversaries, and 19,998 options vest 50 % after one year and 25 % on each of the next two anniversaries. The future expense associated with this option grant is $ 402 thousand. In January 2024, the Company issued 10,062 Common Shares to Keystone under the 2023 Committed Equity Facility, as the Second Back-End Commitment Shares. On January 31, 2024, the Company announced the closing of a $ 9.7 million public offering (the “Public Offering”) and a $ 4 million private placement (the “Private Placement”) with Hanmi Pharmaceutical. The Public Offering comprised 5,649,122 common shares of the Company (the “Common Shares”) and warrants at a combined offering price of US $ 1.71 per share. This included 736,842 Common Shares and warrants pursuant to a full exercise by the underwriter of its over-allotment option (the “Over-Allotment Option”). The Private Placement comprised 2,105,263 Common Shares of the Company sold at a price of $ 1.90 , representing an 11 % premium over the price of the Common Shares issued as part of the Public Offering. Nasdaq subsequently issued a letter to the Company regarding the value and the date of the Private Placement, as discussed in this note, below. Financing costs of approximately $ 1.4 million included underwriting costs of 7 % and approximately $ 0.4 million in professional fees. The Company also issued Hanmi warrants to purchase Common Shares at an exercise price of US $ 1.71 per Warrant Share. The total number of Common Shares outstanding after the closing of the Public Offering, including the Over-Allotment Option, and Private Placement was 15,706,810 and warrants outstanding were 8,332,163 . As of the date of this report, the total common share ownership by Hanmi was 2,989,414 . Hanmi also owns 2,339,181 warrants to purchase Common Shares at an exchange price of $ 1.71 per Warrant Share. On February 29, 2024, the Company received a deficiency letter (the “2024 Deficiency Letter”) from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the Company’s January 2024 Private Placement of securities to Hanmi violated 5635(d) because the Company did not obtain shareholder approval prior to such issuance. Nasdaq stated that the Private Placement involved the issuance of greater than 20 % of the issued and outstanding Common Shares of the Company at a discount to the Nasdaq official closing price on January 25, 2024, the date of the subscription agreement between the Company and Hanmi. The 2024 Deficiency Letter has no immediate effect on the listing of the Company’s Common Shares. In accordance with the Nasdaq Listing Rules, the Company has been given forty-five (45) calendar days, or until April 14, 202 4, to submit a plan to regain compliance. If Nasdaq accepts the Company’s plan to regain compliance, Nasdaq can grant an extension of up to 180 calendar days from the date of the Deficiency Letter to evidence compliance. Although the Company believes that the Private Placement was completed in accordance with the Nasdaq Listing Rules, the Company respects Nasdaq’s query and intends to work with Nasdaq to resolve Nasdaq’s concerns and will consider available options to regain compliance. However, there can be no assurance that the Company will be able to regain compliance with the applicable Nasdaq Listing Rules. On February 5, 2024, the Company issued 10,891 Common Shares under the ESPP.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of presentation - Going concern	(a) Basis of presentation - Going concern These consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States, or GAAP and the rules and regulations of the Securities and Exchange Commission, or SEC, related to annual reports filed on Form 10-K, assuming the Company will continue as a going concern. The going concern assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. However, substantial doubt about the Company's ability to continue as a going concern exists. As of the filing date, we have sufficient liquidity to support the Company's operations until August 2024. In order for the Company to meet its capital requirements, and continue to operate, additional financing will be necessary. The Company is evaluating strategies to obtain the required additional funding for future operations. These strategies may include, but are not limited to, obtaining equity financing, and restructuring of operations to decrease expenses. However, given the challenges in the U.S. and global financial markets, and the matter in Note 17, Subsequent events, that may impact the Company's ability to raise financing in the capital markets, the Company may be unable to access further equity or when needed, if at all. As the Company is primarily pursuing one compound that is licensed from a related party with significant licensing payments who will have influence on the Company, other investors may not be willing to invest in the Company. As such, there can be no assurance that the Company will be able to obtain additional liquidity when needed or under acceptable terms, if at all. The consolidated financial statements do not reflect any adjustments to the carrying amounts and classification of assets, liabilities, and reported expenses that may be necessary if the Company were unable to continue as a going concern. Such adjustments may be material. The functional and presentation currency of the Company is the US dollar.
Basis of consolidation	(b) Basis of consolidation: These consolidated financial statements include the accounts of its subsidiaries. All intercompany transactions, balances, revenue, and expenses are eliminated on consolidation.
Significant accounting policies, estimates and judgments	(c) Significant accounting policies, estimates and judgments The preparation of the consolidated financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting period. Actual outcomes could differ from those estimates. The consolidated financial statements contain estimates, which by their nature, are uncertain. The impacts of such estimates are pervasive throughout the consolidated financial statements and may require accounting adjustments based on future occurrences. The estimates and underlying assumptions are reviewed on a regular basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised and in any future periods affected.
Leases	(d) Leases The Company’s operating leases of tangible property with terms greater than twelve months are recognized as right of use assets, which represents the lessee’s right to use, or control the use of, a specified asset for the lease term, and a corresponding lease liability, which represents the lessee’s obligation to make lease payments under a lease, measured on a discounted basis. Landlord inducements in the form of free rent periods are netted against lease payments to the landlord in measuring right-of-use assets and lease liabilities.
Cash and cash equivalents	(e) Cash and cash equivalents: Cash and cash equivalents are short-term highly liquid investments with original maturities of 90 days or less as of the date of purchase. Cash equivalents are accounted for an amortized cost basis, which approximates their fair value due to their short-term maturities.
Investments	(f) Investments: Investments consist of term deposits with original maturities greater than 90 days and are classified by management as securities available-for-sale. These available-for-sale securities are recorded at estimated fair values. Unrealized gains and losses on these investments are recorded in accumulated other comprehensive income (AOCI) in shareholder’s equity. Realized gains and losses and declines in value that are judged to be other than temporary are included in interest income.
Concentration of risk	(g) Concentration of risk: The Company is subject to credit risk from the Company’s cash and cash equivalents and investments. The carrying amount of the financial assets represents the maximum credit exposure. The Company manages credit risk associated with its cash and cash equivalents and investments by maintaining minimum standards of R1‑low or A‑low investments and the Company invests only in highly rated corporations and treasury bills, which are capable of prompt liquidation. The Company has cash accounts in Canada and the US. The Canada Deposit Insurance Corporation (CDIC) and the US Federal Deposit Insurance Corporation (FDIC) provide insurance to protect depositors against the loss of their deposits in case of a bank failure. However, the maximum amount of coverage varies by jurisdiction and account type. In Canada, the CDIC insures eligible deposits up to $ 100,000 (CAD) per depositor, per insured category, per member institution. In the United States, the FDIC insures deposits up to $ 250,000 per depositor, per insured bank, for each account ownership category. It is important to note that not all deposits are eligible for insurance coverage. For example, deposits in foreign currency, deposits held in trust, and investments such as mutual funds, stocks, and bonds are not insured by either the FDIC or CDIC. The Company is subject to intermediary risk associated with the actions of financial intermediaries, such as banks or investment managers, who act on behalf of clients to buy and sell assets. The Company has diversified the investments with two large financial institutions to reduce the concentration of risk in any one institution, and spread the risk. This measure reduces the likelihood of being significantly impacted by the failure of a single financial institution. The Company has reduced the exposure to individual investment vehicles to minimize the risk of loss in case of adverse events. The Company has diversified the investment portfolio across different asset classes and investment vehicles to achieve this goal.
Property and equipment	(h) Property and equipment: Property and equipment is measured at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditures that are directly attributable to the acquisition of the asset. The Company records depreciation at rates that charge operations with the cost of the assets over their estimated useful lives on a straight‑line basis as follows: Office furniture 5 years Laboratory equipment 5 years Computer hardware 3 years Computer software 3 years Leasehold improvements Life of lease The residual value, useful life and methods of depreciation of the assets are reviewed at each reporting period and adjusted prospectively if appropriate.
Research and development	(i) Research and development: Research and development (R&D) costs are expensed as incurred. R&D costs consist primarily of salaries and benefits, stock-based compensation, manufacturing, contract services, clinical trials and research related overhead. Non-refundable advance payments for goods and services that will be used in future research are recorded in prepaid and other assets and are expensed when the services are performed. The Company records expenses for research and development activities based on Management’s estimates of services received and efforts expended pursuant to contracts with vendors that conduct research and development on the Company’s behalf. The financial terms vary from contract to contract and may result in uneven payment flows as compared with services performed or products delivered. As a result, the Company is required to estimate research and development expenses incurred during the period, which impacts the amount of accrued expenses and prepaid balances related to such costs as of each balance sheet date. Management estimates the amount of work completed through discussions with internal personnel and the contract research and contract manufacturing organizations as to the progress or stage of completion of the services. The Company’s estimates are based on a number of factors, including the Company’s knowledge of the status of each of the research and development project milestones, and contract terms together with related executed change orders. Management makes significant judgments and estimates in determining the accrued balance at the end of each reporting period.
Fair value	(j) Fair value: The Company measures its financial assets and liabilities at fair value. The carrying amounts for the Company’s financial instruments, including cash and cash equivalents, accounts payable and accrued liabilities approximate their fair value due to their short maturities. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
Stock-based compensation	(k) Stock-based compensation: The Company has a stock‑based compensation plan (the “Plan”) available to officers, directors, employees, and consultants with grants under the Plan approved by the Company’s Board of Directors. Under the Plan, the exercise price of each option equals the closing trading price of the Company’s stock on the day prior to the grant if the grant is made during the trading day or the closing trading price on the day of the grant if the grant is issued after markets have closed. Vesting is provided for at the discretion of the Board of Directors and the expiration of options is to be no greater than 10 years from the date of grant. The Company uses the fair value based method of accounting for employee awards granted under the Plan. The Company calculates the fair value of each stock option grant using the Black‑Scholes option pricing model at the grant date. The stock‑based compensation cost of the options is recognized as stock‑based compensation expense over the relevant vesting period of the stock options using an estimate of the number of options that will eventually vest. Stock options awarded to non‑employees are measured at the grant-date fair value of the equity instruments issued in accordance with FASB accounting standards update No 2018-07, Topic 718. The Company has a stock incentive plan pursuant to which the Board may grant equity settled stock‑based awards comprised of restricted stock units or dividend equivalents to employees, officers, consultants, independent contractors, advisors and non‑employee directors of the Company. Compensation cost for restricted share units is measured at fair value at the date of grant, which is the market price of the underlying security, and is expensed over the award’s vesting period on a straight-line basis using an estimate of the number of awards that will eventually vest.
Segment reporting	(l) Segment reporting: Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker, or CODM. The Company’s Chief Executive Officer serves as its CODM. The Company views its operations and manages its business as one segment, which is the discovery and development of personalized therapies addressing unmet medical needs in oncology. The Company operates primarily in the U.S.
Loss per share	(m) Loss per share: Basic loss per share is computed by dividing the net loss available to common shareholders by the weighted average number of shares outstanding during the year. Diluted loss per share is computed similarly to basic loss per share except that the weighted average share outstanding is increased to include additional shares for the assumed exercise of stock options and warrants, if dilutive. The number of additional shares is calculated by assuming that outstanding stock options and warrants were exercised and that the proceeds from such exercises were used to acquire common stock at the average market price during the year. The inclusion of the Company’s stock options and warrants in the computation of diluted loss per share has an anti‑dilutive effect on the loss per share and, therefore, they have been excluded from the calculation of diluted loss per share.
Income taxes	(n) Income taxes: The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which these temporary differences are expected to be recovered or settled. Valuation allowances are provided if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company provides reserves for potential payments of tax to various tax authorities related to uncertain tax positions and other issues. Reserves are based on a determination of whether and how much of a tax benefit taken by the Company in its tax filing is more likely than not to be realized following resolution of any potential contingencies present related to the tax benefit. Potential interest and penalties associated with such uncertain tax positions are recorded as components of income tax expense. As of December 31, 2023 and December 31, 2022, the Company has not recorded any reserves for potential payments as the Company has a history of losses and does not have any revenue from operations.
Recent Accounting Pronouncements	(o) Recent Accounting Pronouncements There were various accounting standards and interpretations issued recently, none of which are expected to have a material impact on our financial position, operations, or cash flows.

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Property, Plant and Equipment Useful Life	The Company records depreciation at rates that charge operations with the cost of the assets over their estimated useful lives on a straight‑line basis as follows: Office furniture 5 years Laboratory equipment 5 years Computer hardware 3 years Computer software 3 years Leasehold improvements Life of lease

Note 4 - Prepaid Expenses (Tabl

Note 4 - Prepaid Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Prepaid Expense and Other Assets [Abstract]
Summary of Prepaid Expenses and Other Assets	December 31, December 31, Prepaid research and development expenses $ 720 $ 1,271 Prepaid insurance 882 893 Other prepaid expenses 440 139 Total $ 2,042 $ 2,303

Note 5 - Property and Equipme_2

Note 5 - Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	December 31, 2023 Cost Accumulated Net book value Laboratory equipment $ 197 $ 87 $ 110 Computer hardware 29 25 4 Computer software 222 222 0 Office furniture 140 132 8 Leasehold improvements 213 183 30 Total $ 801 $ 649 $ 152 December 31, 2022 Cost Accumulated Net book value Laboratory equipment $ 197 $ 48 $ 149 Computer hardware 198 177 21 Computer software 222 222 — Office furniture 140 117 23 Leasehold improvements 184 166 18 Total $ 941 $ 730 $ 211

Note 6 - Right-of-use Assets,_2

Note 6 - Right-of-use Assets, Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Assets and Liabilities, Lessee [Abstract]
Schedule of Right-of-use Assets	Year ended December 31, 2023 Year ended December 31, 2022 Right-of-use assets, beginning of year $ 3,100 $ 1,860 Additions to right-of-use assets 24 1,240 Right-of-use assets, end of year 3,124 3,100 Accumulated amortization ( 2,181 ) ( 1,803 ) Right-of use assets, NBV $ 943 $ 1,297

Note 7 - Investments (Tables)

Note 7 - Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Investments [Abstract]
Summary of Investments	Investments consisted of the following as of December 31, 2023 and December 31, 2022: December 31, 2023 Cost Unrealized loss Market value United States Treasury Bills $ — $ — $ — Total $ — $ — $ — December 31, 2022 Cost Unrealized gain Market value United States Treasury Bills $ 9,991 $ ( 2 ) $ 9,989 Total $ 9,991 $ ( 2 ) $ 9,989

Note 8 - Fair Value Measureme_2

Note 8 - Fair Value Measurements and Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Assets Measured on a Recurring Basis	The following table presents the fair value of the Company’s financial instruments for the periods presented: December 31, Level 1 Level 2 Level 3 Assets High interest savings accounts $ 2,002 $ — $ 2,002 $ — United States Treasury Bills 4,486 — 4,486 — Total $ 6,488 $ — $ 6,488 $ — December 31, Level 1 Level 2 Level 3 Assets Money Market accounts $ 165 $ — $ 165 $ — Money Market Funds 22,343 — 22,343 — High interest savings accounts 13,866 — 13,866 — United States Treasury Bills 9,989 — 9,989 — Total $ 46,363 $ — $ 46,363 $ —

Note 9 - Accrued Liabilities (T

Note 9 - Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Accrued Liabilities, Current [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities as of December 31, 2023 and December 31, 2022 consisted of the following: December 31, December 31, Accrued personnel-related costs $ 1,989 $ 2,302 Accrued research and development expenses 6,527 2,550 Other accrued expenses 313 233 Total $ 8,829 $ 5,085

Note 10 - Lease Liability (Tabl

Note 10 - Lease Liability (Tables)	12 Months Ended
	Dec. 31, 2023
Lessee Disclosure [Abstract]
Summary of Minimum Payments, Undiscounted, Under Operating Leases	Minimum payments, undiscounted, under our operating leases are as follows: Years ending December 31, 2024 459 2025 462 2026 198 Total $ 1,119
Summary of Weighted Average Remaining Term of Leases and Weighted Average Discount Rate	The following table presents the weighted average remaining term of the leases and the weighted average discount rate: December 31, December 31, Weighted-average remaining term – operating 2.4 3.3 Weighted-average discount rate – operating 7.38 % 6.62 % Lease liability, current portion $ 394 $ 301 Lease liability, long term portion 621 1,002 Lease liability, total $ 1,015 $ 1,303
Summary of Operating Lease Costs and Operating Cash Flows from Operating Leases	Operating lease costs and operating cash flows from our operating leases are as follows: Year ended Year ended Operating lease cost $ 471 $ 443 Operating cash flows from operating leases $ 405 $ 546

Note 12 - Share Capital (Tables

Note 12 - Share Capital (Tables)	12 Months Ended
	Dec. 31, 2023
Notes To Financial Statements [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Loss per common share is calculated using the weighted average number of Common Shares outstanding and is presented in the table below: (in thousands) Year ended December 31, 2023 Year ended December 31, 2022 Net loss $ ( 51,207 ) $ ( 41,823 ) Weighted-average common shares – basic 6,755 6,151 Net loss per share – basic and diluted $ ( 7.58 ) $ ( 6.80 )

Note 13 - Stock-based Compens_2

Note 13 - Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Notes To Financial Statements [Abstract]
Share-based Payment Arrangement, Option, Activity	Stock option transactions for the year ended December 31, 2023 and December 31, 2022, are summarized as follows: Options Weighted average Weighted Aggregate (in thousands) Outstanding, December 31, 2021 1,007 $ 69.15 Granted 420 17.85 Exercised ( 1 ) 16.20 Forfeited ( 326 ) 57.60 Outstanding, December 31, 2022 1,100 $ 52.20 Granted 217 9.87 Exercised 0 Forfeited ( 133 ) 50.87 Outstanding, December 31, 2023 1,184 $ 44.78 6.9 $ — Exercisable, December 31, 2023 714 $ 59.00 5.9 $ — Vested and expected to vest, December 31, 2023 1,099 $ 46.46 6.8 $ —
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following table presents the weighted average assumptions that were used in the Black‑Scholes option pricing model to determine the fair value of stock options granted during the period, and the resultant weighted average fair values: Year ended December 31, 2023 Year ended December 31, 2022 Risk-free interest rate 3.42 % 2.17 % Expected dividend yield — — Expected volatility 80.3 % 82.7 % Expected life of options (years) 5 5 Grant date fair value $ 6.53 $ 11.85
Schedule of Share-based Payment Award, Options, Grants in Period	The following table presents the vesting terms of options granted in the period: Year ended December 31, 2023 Year ended December 31, 2022 Options Options (in thousands) (in thousands) 3-year vesting ( 50 %- 25 %- 25 %) 48 28 4-year vesting ( 50 %- 16 2/3 %- 16 2/3 %- 16 2/3 %) 169 352 Earlier of performance criteria or 4 years — 40 Total stock options granted in the year 217 420
Share-based Payment Arrangement, Vesting and Redemption of the RSUs Granted	The following table presents the vesting and redemption of the RSUs granted in the year ended December 31, 2023. No RSUs were granted in the year ended December 31, 2022. Year ended Year ended Number of options Weighted average grant date fair value Number of options Weighted average grant date fair value Outstanding, beginning of period - $ - - $ - Granted 38 9.90 - - Vested and redeemed ( 38 ) ( 9.90 ) - - Outstanding, ending of period - $ - - $ -
Share-based Payment Arrangement, Expensed and Capitalized, Amount	The Company recorded share-based payment expense related to stock options and RSUs as follows: Year ended December 31, 2023 Year ended December 31, 2022 Research and development $ 1,373 $ 2,218 General and administrative 2,280 2,989 Total $ 3,653 $ 5,207

Note 15 - Income Taxes (Tables)

Note 15 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Notes To Financial Statements [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	For the years ended December 31, 2023 and 2022, the total comprehensive loss is as follows: December 31, December 31, Loss attributed to US foreign operations $ ( 45,652 ) $ ( 36,615 ) Loss attributed to Canadian operations ( 5,555 ) ( 5,208 ) Loss before income taxes $ ( 51,207 ) $ ( 41,823 )
Schedule of Effective Income Tax Rate Reconciliation	Major items causing the Company’s income tax rate to differ from the statutory rate of approximately 26.5 % (December 31, 2022 – 26.5 %) are as follows: Year ended December 31, 2023 Year ended December 31, 2022 Net loss $ ( 51,207 ) $ ( 41,823 ) Statutory Canadian corporate tax rate 26.5 % 26.5 % Computed expected tax recovery $ ( 13,570 ) $ ( 11,083 ) Non-deductible permanent differences 873 1,376 Change in valuation allowance 13,059 10,821 Foreign tax rate differential ( 677 ) ( 466 ) Prior year true-up adjustments 355 ( 703 ) Other ( 40 ) 55 $ — $ —
Schedule of Deferred Tax Assets and Liabilities	The tax effects of temporary differences that give rise to significant portions of the unrecognized deferred tax assets are presented below: December 31, December 31, Net operating losses carried forward $ 73,552 $ 60,092 Research and development expenditures 5,025 5,023 Property, equipment, and other intangible assets 7,321 7,264 Research and development tax credits 4,930 4,968 Financing costs 431 873 Right-of-use assets 19 2 Total deferred tax assets 91,278 78,222 Valuation allowance ( 91,278 ) ( 78,222 ) Net deferred tax asset $ — $ —

Note 16 - Selected Quarterly _2

Note 16 - Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Information	Selected financial data (unaudited) for the periods presented was as follows: March 31, June 30, September 30, December 31, Revenue $ — $ — $ — $ — Net loss $ ( 13,676 ) $ ( 14,129 ) $ ( 11,447 ) $ ( 11,955 ) Basic and diluted loss per common share $ ( 2.25 ) $ ( 2.27 ) $ ( 1.76 ) $ ( 1.57 ) March 31, June 30, September 30, December 31, Revenue $ — $ — $ — $ — Net loss $ ( 11,481 ) $ ( 10,565 ) $ ( 9,777 ) $ ( 10,000 ) Basic and diluted loss per common share $ ( 1.81 ) $ ( 1.66 ) $ ( 1.66 ) $ ( 1.67 )

Note 1 - Reporting entity_ (Det

Note 1 - Reporting entity: (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Notes To Financial Statements [Abstract]
Accumulated deficit	$ (515,537)	$ (464,330)
Cash and investment	9,300	47,000
Negative working capital	(3,400)
Positive working capital		37,200
Positive shareholder's equity	(2,901)	$ 37,741	$ 74,236
Negative shareholder's equity	$ (2,900)

Note 2 - Significant Accounti_3

Note 2 - Significant Accounting Policies (Details Textual) - 12 months ended Dec. 31, 2023	CAD ($) Segment	USD ($)
Number of operating segments | Segment	1
Maximum [Member]
CDIC insures deposits	$ 100,000
FDIC insures deposits		$ 250,000

Note 2 - Significant Accounti_4

Note 2 - Significant Accounting Policies - Property, Plant and Equipment Useful Life (Details)	Dec. 31, 2023
Office Furniture [Member]
Property, plant and equipment, estimated useful lives	5 years
Laboratory Equipment [Member]
Property, plant and equipment, estimated useful lives	5 years
Computer Hardware [Member]
Property, plant and equipment, estimated useful lives	3 years
Computer Software [Member]
Property, plant and equipment, estimated useful lives	3 years

Note 3 - Cash and Cash Equiva_2

Note 3 - Cash and Cash Equivalents (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
Cash	$ 2,764	$ 596
Cash and cash equivalents	$ 6,488	$ 36,374

Note 4 - Prepaid Expenses - Pre

Note 4 - Prepaid Expenses - Prepaid Expenses and Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Prepaid Expense and Other Assets [Abstract]
Prepaid research and development expenses	$ 720	$ 1,271
Prepaid insurance	882	893
Other prepaid expenses	440	139
Total	$ 2,042	$ 2,303

Note 5 - Property and Equipme_3

Note 5 - Property and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 801	$ 941
Accumulated depreciation	649	730
Property, plant and equipment, net	152	211
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	197	197
Accumulated depreciation	87	48
Property, plant and equipment, net	110	149
Computer Hardware [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	29	198
Accumulated depreciation	25	177
Property, plant and equipment, net	4	21
Computer Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	222	222
Accumulated depreciation	222	222
Property, plant and equipment, net	0	0
Office Furniture [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	140	140
Accumulated depreciation	132	117
Property, plant and equipment, net	8	23
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	213	184
Accumulated depreciation	183	166
Property, plant and equipment, net	$ 30	$ 18

Note 5 - Property and equipme_4

Note 5 - Property and equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Loss on disposition of fixed assets	$ 0	$ (16,000)
Fixed assets original cost		196,000
Accumulated depreciation		180,000
Additions to fixed assets	$ 29,000	$ 24,000

Note 6 - Right-of-use Assets,_3

Note 6 - Right-of-use Assets, Operating Leases - Schedule of Right-of-use Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Assets and Liabilities, Lessee [Abstract]
Right-of-use assets, beginning of year	$ 3,100	$ 1,860
Additions to right-of-use assets	24	1,240
Right-of-use assets, end of year	3,124	3,100
Accumulated amortization	(2,181)	(1,803)
Right-of use assets, NBV	$ 943	$ 1,297

Note 7 - Investments - Investme

Note 7 - Investments - Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Investment, Cost	$ 0	$ 9,991
Investment, Unrealized gain/(loss)	0	(2)
Investment, Market value	0	9,989
United States Treasury Bills [Member]
Schedule of Investments [Line Items]
Investment, Cost	0	9,991
Investment, Unrealized gain/(loss)	0	(2)
Investment, Market value	$ 0	$ 9,989

Note 8 - Fair Value Measureme_3

Note 8 - Fair Value Measurements and Financial Instruments - Assets Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets, Fair Value Disclosure	$ 6,488	$ 46,363
Level 1 [Member]
Assets, Fair Value Disclosure	0	0
Level 2 [Member]
Assets, Fair Value Disclosure	6,488	46,363
Level 3 [Member]
Assets, Fair Value Disclosure	0	0
Money Market Accounts [Member]
Assets, Fair Value Disclosure		165
Money Market Accounts [Member] | Level 1 [Member]
Assets, Fair Value Disclosure		0
Money Market Accounts [Member] | Level 2 [Member]
Assets, Fair Value Disclosure		165
Money Market Accounts [Member] | Level 3 [Member]
Assets, Fair Value Disclosure		0
Money Market Funds [Member]
Assets, Fair Value Disclosure		22,343
Money Market Funds [Member] | Level 1 [Member]
Assets, Fair Value Disclosure		0
Money Market Funds [Member] | Level 2 [Member]
Assets, Fair Value Disclosure		22,343
Money Market Funds [Member] | Level 3 [Member]
Assets, Fair Value Disclosure		0
High Interest Savings Accounts [Member]
Assets, Fair Value Disclosure	2,002	13,866
High Interest Savings Accounts [Member] | Level 1 [Member]
Assets, Fair Value Disclosure	0	0
High Interest Savings Accounts [Member] | Level 2 [Member]
Assets, Fair Value Disclosure	2,002	13,866
High Interest Savings Accounts [Member] | Level 3 [Member]
Assets, Fair Value Disclosure	0	0
United States Treasury Bills [Member]
Assets, Fair Value Disclosure	4,486	9,989
United States Treasury Bills [Member] | Level 1 [Member]
Assets, Fair Value Disclosure	0	0
United States Treasury Bills [Member] | Level 2 [Member]
Assets, Fair Value Disclosure	4,486	9,989
United States Treasury Bills [Member] | Level 3 [Member]
Assets, Fair Value Disclosure	$ 0	$ 0

Note 9 - Accrued Liabilities -

Note 9 - Accrued Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
Accrued personnel related costs	$ 1,989	$ 2,302
Accrued research and development expenses	6,527	2,550
Other accrued expenses	313	233
Total	$ 8,829	$ 5,085

Note 10 - Lease Liability - Sch

Note 10 - Lease Liability - Schedule of Minimum Payments Under Operating Leases (Details) $ in Thousands	Dec. 31, 2023 USD ($)
2024	$ 459
2025	462
2026	198
Total	$ 1,119

Note 10 - Lease Liability - Lea

Note 10 - Lease Liability - Lease Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Weighted-average remaining term - operating leases (years)	2 years 4 months 24 days	3 years 3 months 18 days
Weighted-average discount rate - operating leases	7.38%	6.62%
Lease liability, current portion	$ 394	$ 301
Lease liability, long term portion	621	1,002
Lease liability, total	$ 1,015	$ 1,303

Note 10 - Lease Liability - Ope

Note 10 - Lease Liability - Operating Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating lease cost	$ 471	$ 443
Operating cash flows from operating leases	$ 405	$ 546

Note 11 - Related party trans_2

Note 11 - Related party transactions (Details Textual) - USD ($)			12 Months Ended		26 Months Ended
	Sep. 06, 2023	Nov. 04, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Mar. 26, 2024	Jan. 31, 2024	Aug. 10, 2023
Schedule of Equity Method Investments [Line Items]
Accrued liabilities			$ 8,829,000	$ 5,085,000	$ 8,829,000
Accounts payable			3,492,000	3,342,000	3,492,000
Tuspetinib Licensing Agreement [Member]
Schedule of Equity Method Investments [Line Items]
License Fee, Total		$ 12,500,000
Payments for License Fee		5,000,000
Stock Issued During Period, Value, Licensing Fee		$ 7,500,000
Supply Agreement [Member]
Schedule of Equity Method Investments [Line Items]
Expenses			$ 3,500,000	3,600,000	7,100,000
Payment of supply costs					$ 4,500,000
Accrued liabilities				600,000
Accounts payable				3,000,000
Hanmi Pharmaceuticals Co Ltd [Member]
Schedule of Equity Method Investments [Line Items]
Number of common shares held		215,703	884,152		884,152
Future milestone payments		$ 407,500,000
Gross proceeds of sale stock	$ 3,000,000		$ 3,000,000
Payment of supply costs			4,500,000	$ 0
Hanmi Pharmaceuticals Co Ltd [Member] | Subsequent Event [Member]
Schedule of Equity Method Investments [Line Items]
Warrants to purchase common shares, number of warrants						2,339,181	2,339,181
Warrants to purchase common shares, exchange price						$ 1.71	$ 1.71
Hanmi Pharmaceuticals Co Ltd [Member] | Common Shares [Member]
Schedule of Equity Method Investments [Line Items]
Number of shares sold	668,449
Hanmi Pharmaceuticals Co Ltd [Member] | Common Shares [Member] | Subsequent Event [Member]
Schedule of Equity Method Investments [Line Items]
Number of common shares held						2,989,414
Percentage of investment						19.03%
Hanmi Pharmaceuticals Co Ltd [Member] | Supply Agreement [Member]
Schedule of Equity Method Investments [Line Items]
Accrued liabilities			0		$ 0
Accounts payable			$ 2,600,000		$ 2,600,000
Maximum [Member] | Hanmi Pharmaceuticals Co Ltd [Member]
Schedule of Equity Method Investments [Line Items]
Investment for ownership interest								$ 7,000,000
Percentage of investment								19.99%

Note 12 - Share Capital (Detail

Note 12 - Share Capital (Details Textual) - USD ($)				12 Months Ended		13 Months Ended
	Sep. 06, 2023	May 25, 2023	Oct. 21, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Mar. 26, 2024	Aug. 10, 2023	Dec. 09, 2022	Oct. 31, 2022	Nov. 04, 2021	May 05, 2020
Hanmi Pharmaceuticals Co Ltd [Member]
Proceeds from Issuance of Common Stock	$ 3,000,000
Number of common shares held				884,152		884,152					215,703
Hanmi Pharmaceuticals Co Ltd [Member] | Common Shares [Member]
Number of shares sold	668,449
Hanmi Pharmaceuticals Co Ltd [Member] | Subsequent Event [Member] | Common Shares [Member]
Percentage of investment							19.03%
Number of common shares held							2,989,414
Maximum [Member] | Hanmi Pharmaceuticals Co Ltd [Member]
Investment for ownership interest								$ 7,000,000
Percentage of investment								19.99%
2023 Committed Equity Facility [Member]
Stock issuance program authorized shares		25,156
Stock Issuance Program, Authorized Amount		$ 25,000,000
Percentage of common shares outstanding.		19.99%
Stock Issued During Period, Shares, New Issues (in shares)				720,494
Shares Issued, Price Per Share (in dollars per share)				$ 2.91		$ 2.91
Proceeds from Issuance of Common Stock				$ 2,083,000	$ 0
2023 Committed Equity Facility [Member] | Commitment Shares [Member]
Stock Issued During Period, Shares, New Issues (in shares)				15,094
2023 Committed Equity Facility [Member] | Initial Commitment Shares [Member]
Stock Issued During Period, Shares, New Issues (in shares)		7,547
Stock Issuance, Percent of Cash Commission to Broker		30%
2023 Committed Equity Facility [Member] | First Back-End Commitment Shares [Member]
Stock Issued During Period, Shares, New Issues (in shares)		7,547
Stock Issuance, Percent of Cash Commission to Broker		30%
2023 Committed Equity Facility [Member] | Second Back-End Commitment Shares [Member]
Stock Issued During Period, Shares, New Issues (in shares)		10,062
Stock Issuance, Percent of Cash Commission to Broker		40%
The 2022 ATM Offering [Member]
Stock Issuance Program, Authorized Amount									$ 50,000,000
Stock Issued During Period, Shares, New Issues (in shares)				336,690	4,836
Shares Issued, Price Per Share (in dollars per share)				$ 5.62	$ 10.81	$ 5.62
Proceeds from Issuance of Common Stock, Gross				$ 1,900,000	$ 52,000	$ 1,900,000
Proceeds from Issuance of Common Stock				$ 1,809,000	$ 51,000	$ 1,900,000
Stock Issuance, Percent of Cash Commission to Broker				3%		3%
The 2022 ATM Offering [Member] | Common Shares [Member]
Stock Issued During Period, Shares, New Issues (in shares)				337,000	5,000
The 2020 ATM Offering [Member]
Stock Issuance Program, Authorized Amount												$ 75,000,000
Stock Issued During Period, Shares, New Issues (in shares)					3,646
Shares Issued, Price Per Share (in dollars per share)					$ 14.25
Proceeds from Issuance of Common Stock, Gross			$ 89,000		$ 52,000
Proceeds from Issuance of Common Stock			$ 86,000	$ 0	$ 50,000
Stock Issuance, Percent of Cash Commission to Broker										3%
The 2020 ATM Offering [Member] | Common Shares [Member]
Stock Issued During Period, Shares, New Issues (in shares)					4,000

Note 12 - Share Capital - Loss

Note 12 - Share Capital - Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Net loss	$ (11,955)	$ (11,447)	$ (14,129)	$ (13,676)	$ (10,000)	$ (9,777)	$ (10,565)	$ (11,481)	$ (51,207)	$ (41,823)
Weighted-average common shares - basic									6,755	6,151
Weighted-average common shares - diluted									6,755	6,151
Net loss per share - basic	$ (1.57)	$ (1.76)	$ (2.27)	$ (2.25)	$ (1.67)	$ (1.66)	$ (1.66)	$ (1.81)	$ (7.58)	$ (6.8)
Net loss per share - diluted	$ (1.57)	$ (1.76)	$ (2.27)	$ (2.25)	$ (1.67)	$ (1.66)	$ (1.66)	$ (1.81)	$ (7.58)	$ (6.8)

Note 13 - Stock-based Compens_3

Note 13 - Stock-based Compensation (Details Textual) - USD ($)		12 Months Ended
	Feb. 06, 2023	Dec. 31, 2023	Dec. 31, 2022	Jun. 01, 2021
Common Stock, No Par Value		$ 0	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)		10 years
Employee Stock Purchase Plan, Maximum Payroll Deduction, Percent		15%
Employee Stock Purchase Plan, Stock Purchase Price, Percent		85%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)		113,333
Common shares issued under the ESPP plan (Shares)		5,891	724
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value		$ 0	$ 3,000
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount		$ 1,200,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		1 year 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares)		714,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term (Month)		5 years 10 months 24 days
Share-based Payment Arrangement, Expense		$ 3,653,000	$ 5,207,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		38,000	0
Weighted average grant date fair value, exercise price		$ 9.9
Common shares issued upon redemption of restricted share units, shares	38,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)		217,000	420,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares)		1,099,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in dollars per share)		$ 59
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		38,000	0
Weighted average grant date fair value, exercise price		$ 9.9	$ 0
Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares)			56,737
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term (Month)			12 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term (Month)			12 months
Share-based Payment Arrangement, Expense			$ 67,000
Officer [Member] | Continuing Vesting Options with No Service Requirement [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number (in shares)			31,810
Officer [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in dollars per share)			$ 20.1
Officer [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in dollars per share)			$ 103.65
New Incentive Plan [Member]
Common Stock, No Par Value				$ 0
New Incentive Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)				691,400

Note 13 - Stock-based Compens_4

Note 13 - Stock-based Compensation - Stock Option Transactions (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Notes To Financial Statements [Abstract]
Outstanding, options (in shares)	1,100	1,007
Outstanding, weighted average exercise price (in dollars per share)	$ 52.2	$ 69.15
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross	217	420
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 9.87	$ 17.85
Exercised, options (in shares)	0	(1)
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price		$ 16.2
Forfeited, options (in shares)	(133)	(326)
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price	$ 50.87	$ 57.6
Outstanding, options (in shares)	1,184	1,100
Outstanding, weighted average exercise price (in dollars per share)	$ 44.78	$ 52.2
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	6 years 10 months 24 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value	$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number	714
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 59
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	5 years 10 months 24 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value	$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	1,099
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price	$ 46.46
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term	6 years 9 months 18 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$ 0

Note 13 - Stock-based Compens_5

Note 13 - Stock-based Compensation - Weighted Average Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Notes To Financial Statements [Abstract]
Risk-free interest rate	3.42%	2.17%
Expected dividend yield	0%	0%
Expected volatility	80.30%	82.70%
Expected life of options (years)	5 years	5 years
Grant date fair value	$ 6.53	$ 11.85

Note 13 - Stock-based Compens_6

Note 13 - Stock-based Compensation - Vesting Terms of Options Granted (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Stock options granted in the period (in shares)	217	420
Options with Three Year Vesting [Member]
Stock options granted in the period (in shares)	48	28
Options with Four Year Vesting [Member]
Stock options granted in the period (in shares)	169	352
Options With Performance Criteria [Member]
Stock options granted in the period (in shares)	0	40

Note 13 - Stock-based Compens_7

Note 13 - Stock-based Compensation - Vesting Terms of Options Granted (Details) (Parentheticals)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Options with Three Year Vesting [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	50%	50%
Options with Three Year Vesting [Member] | Share-Based Payment Arrangement, Tranche Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	25%	25%
Options with Three Year Vesting [Member] | Share-Based Payment Arrangement, Tranche Three [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	25%	25%
Options with Four Year Vesting [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	50%	50%
Options with Four Year Vesting [Member] | Share-Based Payment Arrangement, Tranche Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	16.67%	16.67%
Options with Four Year Vesting [Member] | Share-Based Payment Arrangement, Tranche Three [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	16.67%	16.67%
Options with Four Year Vesting [Member] | Share-based Payment Arrangement, Tranche Four [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	16.67%	16.67%

Note 13 - Stock-based Compens_8

Note 13 - Stock-based Compensation - Share-based Payment Arrangement, Vesting and Redemption of the RSUs Granted (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options, Granted	38,000	0
Weighted average grant date fair value, Granted	$ 9.9
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options, Beginning Balance	0	0
Number of options, Granted	38,000	0
Number of options, Vested and redeemed	(38,000)	0
Number of options, Ending Balance	0	0
Weighted average grant date fair value, Beginning Balance	$ 0	$ 0
Weighted average grant date fair value, Granted	9.9	0
Weighted average grant date fair value, Vested and redeemed	(9.9)	0
Weighted average grant date fair value, Ending Balance	$ 0	$ 0

Note 13 - Stock-based Compens_9

Note 13 - Stock-based Compensation - Share-based Payment Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement, Expense	$ 3,653	$ 5,207
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expense	1,373	2,218
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expense	$ 2,280	$ 2,989

Note 14 - Collaborative Agree_2

Note 14 - Collaborative Agreements (Details Textual) - USD ($) $ in Millions	Nov. 04, 2021	Jun. 13, 2018	Mar. 21, 2016
CrystalGenomics, Inc. [Member]
Collaborative Agreement, Milestone Payment			$ 16
Collaborative Agreement, Regulatory Milestone			$ 44
Tuspetinib Licensing Agreement [Member]
License Fee, Total	$ 12.5
Payments for License Fee	5
Stock Issued During Period, Value, Licensing Fee	$ 7.5
Stock Issued During Period, Shares, Licensing Fees (in shares)	215,703
Clinical Development and Global Regulatory Milestone, First Indication	$ 64.5
Clinical Development and Global Regulatory Milestone, Second Indication	34
Clinical Development and Global Regulatory Milestone, Third Indication	29
Global Sales Milestone	$ 280
Exclusive License to CG806 in China, Development Milestones [Member] | CrystalGenomics, Inc. [Member]
Collaborative Agreement, Regulatory Milestone		$ 6
Exclusive License to CG806 in China, Regulatory Milestones [Member] | CrystalGenomics, Inc. [Member]
Collaborative Agreement, Regulatory Milestone		$ 20

Note 15 - Income Taxes (Details

Note 15 - Income Taxes (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	26.50%	26.50%
Tax Credit Carryforward, Amount	$ 19
Foreign Tax Authority [Member] | Canada Revenue Agency [Member]
Operating Loss Carryforwards, Total	266.2
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards, Total	1.1
Investment Tax Credit Carryforward [Member] | Foreign Tax Authority [Member] | Canada Revenue Agency [Member]
Tax Credit Carryforward, Amount	2.4
Investment Tax Credit Carryforward [Member] | Domestic Tax Authority [Member] | Canada Revenue Agency [Member]
Tax Credit Carryforward, Amount	$ 3.1

Note 15 - Income Taxes - Net Lo

Note 15 - Income Taxes - Net Loss (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Notes To Financial Statements [Abstract]
Loss attributed to US foreign operations									$ (45,652)	$ (36,615)
Loss attributed to Canadian operations									(5,555)	(5,208)
Loss before income taxes	$ (11,955)	$ (11,447)	$ (14,129)	$ (13,676)	$ (10,000)	$ (9,777)	$ (10,565)	$ (11,481)	$ (51,207)	$ (41,823)

Note 15 - Income Taxes - Provis

Note 15 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Notes To Financial Statements [Abstract]
Net loss	$ (11,955)	$ (11,447)	$ (14,129)	$ (13,676)	$ (10,000)	$ (9,777)	$ (10,565)	$ (11,481)	$ (51,207)	$ (41,823)
Statutory Canadian corporate tax rate									26.50%	26.50%
Computed expected tax recovery									$ (13,570)	$ (11,083)
Non-deductible permanent differences									873	1,376
Change in valuation allowance									13,059	10,821
Foreign tax rate differential									(677)	(466)
Prior year true-up adjustments									355	(703)
Other									$ (40)	$ 55

Note 15 - Income Taxes - Deferr

Note 15 - Income Taxes - Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Notes To Financial Statements [Abstract]
Net operating losses carried forward	$ 73,552	$ 60,092
Research and development expenditures	5,025	5,023
Property, equipment, and other intangible assets	7,321	7,264
Research and development tax credits	4,930	4,968
Financing costs	431	873
Right-of-use assets	19	2
Total deferred tax assets	91,278	78,222
Valuation allowance	(91,278)	(78,222)
Net deferred tax asset	$ 0	$ 0

Note 16 - Selected Quarterly _3

Note 16 - Selected Quarterly Financial Data (Unaudited) - Summary of Quarterly Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Net loss	$ (11,955)	$ (11,447)	$ (14,129)	$ (13,676)	$ (10,000)	$ (9,777)	$ (10,565)	$ (11,481)	$ (51,207)	$ (41,823)
Basic loss per common share	$ (1.57)	$ (1.76)	$ (2.27)	$ (2.25)	$ (1.67)	$ (1.66)	$ (1.66)	$ (1.81)	$ (7.58)	$ (6.8)
Diluted loss per common share	$ (1.57)	$ (1.76)	$ (2.27)	$ (2.25)	$ (1.67)	$ (1.66)	$ (1.66)	$ (1.81)	$ (7.58)	$ (6.8)

Note 17 - Subsequent Events (De

Note 17 - Subsequent Events (Details Textual) - USD ($)						12 Months Ended
	Feb. 05, 2024	Jan. 31, 2024	Jan. 30, 2024	Jan. 01, 2024	Sep. 06, 2023	Dec. 31, 2023	Dec. 31, 2022	Mar. 26, 2024	Feb. 29, 2024	Nov. 04, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)						217,000	420,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)						$ 9.87	$ 17.85
Future expense associated with option						$ 1,200,000
Common Stock, Shares Outstanding						7,942,363	6,157,749
Common shares issued upon exercise of stock options							$ 15,000
Common shares issued under the ESPP plan (Shares)						5,891	724
Common Stock [Member]
Common shares issued upon exercise of stock options							$ 26,000
Common shares issued under the ESPP plan (Shares)						6,000	1,000
Common Stock [Member] | Warrant [Member]
Common warrants offering price		$ 1.71
Hanmi Pharmaceuticals [Member]
Issuance of common shares					$ 3,000,000
Number of common shares held						884,152				215,703
Options with Four Year Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)						169,000	352,000
Options with Three Year Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)						48,000	28,000
Share-Based Payment Arrangement, Tranche One [Member] | Options with Four Year Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						50%	50%
Share-Based Payment Arrangement, Tranche One [Member] | Options with Three Year Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						50%	50%
Share-Based Payment Arrangement, Tranche Two [Member] | Options with Four Year Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						16.67%	16.67%
Share-Based Payment Arrangement, Tranche Two [Member] | Options with Three Year Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						25%	25%
Share-Based Payment Arrangement, Tranche Three [Member] | Options with Four Year Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						16.67%	16.67%
Share-Based Payment Arrangement, Tranche Three [Member] | Options with Three Year Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						25%	25%
Share-based Payment Arrangement, Tranche Four [Member] | Options with Four Year Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						16.67%	16.67%
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)				408,168
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)				$ 2
Financing costs including underwriting costs, professional fees and recognition of deferred financing costs		$ 1,400,000
Common shares issued under the ESPP plan (Shares)	10,891
Subsequent Event [Member] | Public Offering [Member]
Common shares issued (in shares)		5,649,122
Subsequent Event [Member] | Over-Allotment Option [Member]
Common shares issued upon exercise of stock options		$ 736,842
Subsequent Event [Member] | Keystone [Member] | Common Stock [Member]
Common shares issued (in shares)				10,062
Subsequent Event [Member] | Hanmi Pharmaceuticals [Member]
Warrants to purchase common shares, number of warrants		2,339,181						2,339,181
Warrants to purchase common shares, exchange price		$ 1.71						$ 1.71
Underwriting costs (as percent)		7%
Professional fees			$ 400,000
Subsequent Event [Member] | Hanmi Pharmaceuticals [Member] | Public Offering [Member]
Issuance of common shares		$ 4,000,000
Premium share price (as a percent)		11%
Common Stock, Shares Outstanding		15,706,810
Warrants outstanding		8,332,163
Subsequent Event [Member] | Hanmi Pharmaceuticals [Member] | Private Placement [Member]
Common shares issued (in shares)		2,105,263
Issuance of common shares		$ 9,700,000
Shares Issued, Price Per Share (in dollars per share)		$ 1.9
Subsequent Event [Member] | Hanmi Pharmaceuticals [Member] | Common Stock [Member]
Number of common shares held								2,989,414
Subsequent Event [Member] | Options with Four Year Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)				388,170
Future expense associated with option				$ 402,000
Subsequent Event [Member] | Options with Three Year Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)				19,998
Subsequent Event [Member] | Share-Based Payment Arrangement, Tranche One [Member] | Options with Four Year Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				50%
Subsequent Event [Member] | Share-Based Payment Arrangement, Tranche Two [Member] | Options with Four Year Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				16.67%
Subsequent Event [Member] | Share-Based Payment Arrangement, Tranche Two [Member] | Options with Three Year Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				50%
Subsequent Event [Member] | Share-Based Payment Arrangement, Tranche Three [Member] | Options with Three Year Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				25%
Subsequent Event [Member] | Minimum [Member]
Private placement issuance percentage									20%