Aptose Biosciences (APTO) 10-Q 5 Nov 19 2019 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 05, 2019
Document Information [Line Items]
Entity Registrant Name	Aptose Biosciences Inc.
Entity Central Index Key	0000882361
Trading Symbol	apto
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		55,486,564
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Title of 12(b) Security	Common Stock

Condensed Consolidated Interim

Condensed Consolidated Interim Statements of Financial Position (Current Period Unaudited) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 20,686,000	$ 15,299,000
Investments	9,528,000	440,000
Prepaid expenses	285,000	646,000
Other current assets	109,000	101,000
Total current assets	30,608,000	16,486,000
Non-current assets:
Property and equipment	361,000	384,000
Operating Lease, Right-of-Use Asset	1,491,000
Total non-current assets	1,852,000	384,000
Total assets	32,460,000	16,870,000
Current liabilities:
Accounts payable	1,174,000	1,315,000
Accrued liabilities	2,221,000	1,474,000
Current portion of lease liability, operating leases	513,000
Total current liabilities	3,908,000	2,789,000
Non-current liabilities:
Lease liability, operating leases	1,124,000
Total liabilities	5,032,000	2,789,000
Shareholders’ equity:
Common shares, no par value, unlimited authorized shares, 55,486,564 and 38,161,808 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively	291,344,000	261,072,000
Additional paid-in capital	34,593,000	32,963,000
Accumulated other comprehensive loss	(4,303,000)	(4,316,000)
Deficit	(294,206,000)	(275,638,000)
Total shareholders’ equity	27,428,000	14,081,000
Total liabilities and shareholders’ equity	$ 32,460,000	$ 16,870,000

Condensed Consolidated Interi_2

Condensed Consolidated Interim Statements of Financial Position (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized	Unlimited	Unlimited
Common stock, shares issued (in shares)	55,486,564	38,161,808
Common stock, shares outstanding (in shares)	55,486,564	38,161,808

Condensed Consolidated Interi_3

Condensed Consolidated Interim Statement of Loss and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue
Expenses:
Research and development	4,751,000	3,591,000	11,582,000	14,549,000
General and administrative	2,276,000	2,020,000	7,391,000	8,233,000
Operating Expenses	7,027,000	5,611,000	18,973,000	22,782,000
Other income (expense):
Interest income	187,000	80,000	407,000	198,000
Foreign exchange losses	(4,000)		(2,000)	(23,000)
Total other income	183,000	80,000	405,000	175,000
Net loss	(6,844,000)	(5,531,000)	(18,568,000)	(22,607,000)
Unrealized gain/(loss) on securities available-for-sale	(5,000)	9,000	13,000	3,000
Total comprehensive loss	$ (6,849,000)	$ (5,522,000)	$ (18,555,000)	$ (22,604,000)
Basic and diluted loss per common share (in dollars per share)	$ (0.12)	$ (0.16)	$ (0.39)	$ (0.71)
Weighted average number of common shares outstanding used in the calculation of basic and diluted loss per common share (in thousands) (in shares)	55,454	34,587	47,315	32,039

Condensed Consolidated Interi_4

Condensed Consolidated Interim Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Public Offering [Member]Common Stock [Member]	Public Offering [Member]Additional Paid-in Capital [Member]	Public Offering [Member]AOCI Attributable to Parent [Member]	Public Offering [Member]Retained Earnings [Member]	Public Offering [Member]	The 2019 Share Purchase Agreement [Member]Common Stock [Member]	The 2019 Share Purchase Agreement [Member]Additional Paid-in Capital [Member]	The 2019 Share Purchase Agreement [Member]AOCI Attributable to Parent [Member]	The 2019 Share Purchase Agreement [Member]Retained Earnings [Member]	The 2019 Share Purchase Agreement [Member]	The 2018 ATM Offering [Member]Common Stock [Member]	The 2018 ATM Offering [Member]Additional Paid-in Capital [Member]	The 2018 ATM Offering [Member]AOCI Attributable to Parent [Member]	The 2018 ATM Offering [Member]Retained Earnings [Member]	The 2018 ATM Offering [Member]	The 2018 Purchase Agreement [Member]Common Stock [Member]	The 2018 Purchase Agreement [Member]Additional Paid-in Capital [Member]	The 2018 Purchase Agreement [Member]AOCI Attributable to Parent [Member]	The 2018 Purchase Agreement [Member]Retained Earnings [Member]	The 2018 Purchase Agreement [Member]	The 2017 Purchase Agreement [Member]Common Stock [Member]	The 2017 Purchase Agreement [Member]Additional Paid-in Capital [Member]	The 2017 Purchase Agreement [Member]AOCI Attributable to Parent [Member]	The 2017 Purchase Agreement [Member]Retained Earnings [Member]	The 2017 Purchase Agreement [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2017																										27,502,000
Balance at Dec. 31, 2017																										$ 231,923,000	$ 29,365,000	$ (4,316,000)	$ (246,770,000)	$ 10,202,000
Common shares issued (in shares)											2,017,000				2,017,046	170,000					5,232,000				5,231,953
Common shares issued											$ 6,818,000				$ 6,818,000	$ 600,000				$ 600,000	$ 14,995,000				$ 14,995,000
Common shares issued upon exercise of stock options (in shares)																										96,000
Common shares issued upon exercise of stock options																										$ 379,000	(160,000)			219,000
Stock-based compensation																											3,695,000			3,695,000
Other comprehensive gain (loss)																												3		3
Net loss																													(22,607,000)	(22,607,000)
Balance (in shares) at Sep. 30, 2018																										35,017,000
Balance at Sep. 30, 2018																										$ 254,715,000	32,900,000	(4,313,000)	(269,377,000)	13,925,000
Balance (in shares) at Dec. 31, 2018																										38,162,000
Balance at Dec. 31, 2018																										$ 261,072,000	32,963,000	(4,316,000)	(275,638,000)	$ 14,081,000
Common shares issued (in shares)	11,500,000					171,000					77,000				77,349	5,502,000
Common shares issued	$ 19,594,000				$ 19,594,000	$ 360,000				$ 360,000	$ 178,000				$ 178,000	$ 10,000,000				$ 10,000,000
Common shares issued upon exercise of stock options (in shares)																										34,000				34,000
Common shares issued upon exercise of stock options																										$ 60,000	(24,000)			$ 36,000
Common shares issued on redemption of restricted share units (in shares)																										40,000
Common shares issued on redemption of restricted share units																										$ 80,000	(80,000)
Stock-based compensation																											1,734,000			1,734,000
Other comprehensive gain (loss)																												13,000		13,000
Net loss																													(18,568,000)	(18,568,000)
Balance (in shares) at Sep. 30, 2019																										55,486,000
Balance at Sep. 30, 2019																										$ 291,344,000	$ 34,593,000	$ (4,303,000)	$ (294,206,000)	$ 27,428,000

Condensed Consolidated Interi_5

Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Cash flows from (used in) operating activities:
Net loss for the period	$ (6,844,000)	$ (5,531,000)	$ (18,568,000)	$ (22,607,000)
Items not involving cash:
Stock-based compensation	504,000	952,000	1,734,000	3,695,000
Shares issued to Aspire Capital as commitment fees			360,000	600,000
Depreciation and amortization	33,000	29,000	115,000	64,000
Amortization of right-of-use assets	115,000		346,000
Interest on lease liabilities	22,000		69,000
Operating lease payments amortized to lease liabilities	(126,000)		(345,000)
Unrealized foreign exchange (loss) gain	5,000	(19,000)	2,000	1,000
Accrued interest on investments	(58,000)		(77,000)
Change in non-cash operating working capital:
Prepaid expenses	437,000	68,000	361,000	2,000
Other current assets	59,000	66,000	(8,000)	(65,000)
Account payable	(66,000)	40,000	(141,000)	598,000
Accrued liabilities	735,000	(73,000)	825,000	7,000
Cash used in operating activities	(5,184,000)	(4,468,000)	(15,327,000)	(17,705,000)
Cash flows from financing activities:
Cost of offerings		(7,000)	(142,000)	(14,000)
Issuance of common shares upon exercise of stock options	17,000	36,000	36,000	219,000
Cash provided by financing activities	17,000	1,608,000	29,808,000	22,032,000
Cash flows from (used in) investing activities:
Maturity (acquisition) of investments	(1,000,000)		(9,000,000)	250,000
Purchase of property and equipment	(42,000)	(28,000)	(92,000)	(152,000)
Cash provided by (used in) investing activities	(1,042,000)	(28,000)	(9,092,000)	98,000
Effect of exchange rate fluctuations on cash and cash equivalents held	(3,000)		(2,000)
Increase/(decrease) in cash and cash equivalents	(6,212,000)	(2,888,000)	5,387,000	4,425,000
Cash and cash equivalents, beginning of period	26,898,000	17,944,000	15,299,000	10,631,000
Cash and cash equivalents, end of period	20,686,000	15,056,000	20,686,000	15,056,000
Public Offering [Member]
Cash flows from financing activities:
Proceeds from Issuance of Common Stock			19,736,000
The 2018 Purchase Agreement [Member]
Cash flows from financing activities:
Issuance of common shares			10,000,000
The 2017 Purchase Agreement [Member]
Cash flows from financing activities:
Proceeds from Issuance of Common Stock				15,000,000
Issuance of common shares				15,000,000
The 2018 ATM Offering [Member]
Cash flows from financing activities:
Proceeds from Issuance of Common Stock			183,000	7,000,000
Issuance of common shares		$ 1,579,000	$ 178,000	$ 6,827,000

Note 1 - Reporting Entity

Note 1 - Reporting Entity	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Reporting entity: Aptose Biosciences Inc. (“Aptose” or the “Company”) is a clinical-stage biotechnology company committed to discovering and developing personalized therapies addressing unmet medical needs in oncology. The Company’s executive offices are located in San Diego, California and its head office is located in Toronto, Canada. Aptose has two second CG026806 806” 3 1a/b, 806 1 253, second 1b

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Significant accounting policies (a) Basis of consolidation: These condensed consolidated interim financial statements include the accounts of its subsidiaries. All intercompany transactions, balances, revenue and expenses are eliminated on consolidation. (b) Basis of presentation: The accompanying unaudited condensed consolidated interim financial statements have been prepared in conformity with generally accepted accounting principles in the United States, or GAAP, for the interim financial information and the rules and regulations of the Securities and Exchange Commission, or SEC, related to quarterly reports on Form 10 not 10 March 12, 2019. not may (c) Significant accounting policies, estimates and judgments: During the three nine September 30, 2019, no 10 December 31, 2018, The preparation of the condensed consolidated interim 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 condensed consolidated interim financial statements include estimates, which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the condensed consolidated interim financial statements and may 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) Foreign currency: The functional and presentation currency of the Company is the US dollar. (e) Leases Effective January 1, 2019, No. 2016 02, 842 twelve Impact of adoption: As a result of adopting Topic 842, January 1, 2019, $1.570 $1.647 $78 (f) 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

Note 3 - Cash and Cash Equivale

Note 3 - Cash and Cash Equivalents	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	3. Cash and cash equivalents: Cash and cash equivalents consists of cash of $323 December 31, 2018 $621 90 $20.363 December 31, 2018 $14.678

Note 4 - Right-of-use Assets, O

Note 4 - Right-of-use Assets, Operating Leases	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Right-of-use Assets Disclosure [Text Block]	4. Right-of-use assets, operating leases: Nine months ended Year ended Right-of-use assets, January 1, 2019 $ 1,570 - Additions to right-of-use assets 267 - Right-of-use assets, September 30, 2019 1,837 - Accumulated amortization (346 ) - Right-of use assets, NBV 1,491 -

Note 5 - Investments

Note 5 - Investments	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	5. Investments: Investments consisted of the following as of September 30, 2019 December 31, 2018: September 30, 2019 Cost Unrealized gain Market value Guaranteed investment certificate(s) $ 9,515 13 9,528 December 31, 2018 Cost Unrealized loss Market value Guaranteed investment certificate(s) $ 458 (18 ) 440

Note 6 - Fair Value Measurement

Note 6 - Fair Value Measurements and Financial Instruments	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Fair Value Disclosures [Text Block]	6. Fair value measurements and financial instruments: The fair value hierarchy establishes three Level 1 Level 2 not Level 3 no The fair value hierarchy gives the highest priority to Level 1 3 The following table presents the Company’s assets that are measured at fair value on a recurring basis for the periods presented: September 30, 2019 Level 1 Level 2 Level 3 Assets High interest savings account $ 1,889 $ - $ 1,889 - Commercial notes 9,977 - 9,977 - Canadian provincial promissory notes 4,489 - 4,489 - Guaranteed investment certificates, issued by a Canadian financial institution 13,536 - 13,536 - $ 29,891 $ - $ 29,891 $ - December 31, 2018 Level 1 Level 2 Level 3 Assets $ $ $ $ High interest savings account 496 - 496 - United States treasury bills 3,989 - 3,989 - Canadian provincial promissory notes 5,991 - 5,991 - Guaranteed investment certificates, Royal Bank of Canada 4,642 - 4,642 - $ 15,118 $ - $ 15,118 $ -

Note 7 - Accrued Liabilities

Note 7 - Accrued Liabilities	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	7. Accrued liabilities: Accrued liabilities as of September 30, 2019 December 31, 2018 September 30, December 31, 2019 2018 Accrued personnel related costs $ 1,038 $ 955 Accrued research and development expenses 888 257 Other accrued expenses 295 262 $ 2,221 $ 1,474

Note 8 - Lease Liability

Note 8 - Lease Liability	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	8. Lease liability Aptose leases office space and lab space in San Diego, California. The lease for the office space expires on March 31, 2023 5 February 29, 2019, February 18, 2019 February 28, 2022. June 30, 2023 5 not Minimum payments, undiscounted, under our operating leases are as follows: Years ending December 31, 2019 $ 127 2020 534 2021 545 2022 463 2023 119 Thereafter - $ 1,788 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 at January 1, 2019 842, Nine months ended Weighted-average remaining term – operating leases (years) 3.5 Weighted-average discount rate – operating leases 5.43 % Lease liability, current portion 513 Lease liability, long term portion 1,124 Lease liability, total 1,637 Right-of-use assets obtained in exchange for new operating lease liabilities are as follows: Nine months ended Right-of-use assets recorded upon adoption of Topic 842, January 1, 2019 $ 1,570 Right-of-use assets obtained in exchange for new operating lease liabilities in the period $ 267 Operating lease costs and operating cash flows from our operating leases are as follows: Nine months ended Operating lease cost $ 431 Operating cash flows from operating leases $ 345 Comparable figures are not

Note 9 - Share Capital

Note 9 - Share Capital	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	9. Share capital: The Company has authorized share capital of an unlimited number of common voting shares. (a) Equity issuances: (i) 2019 On June 3, 2019, 11,500,000 $1.85 $21.275 $19.736 $19.594 7% (ii) 2019 On May 7, 2019, 2019 $20 30 2019 one 9.99% 19.99% 2019 19.99% $2.10. May 13, 2019, 171,428 2019 $360 September 30, 2019, not 2019 (iii) 2018 On May 30, 2018, 2018 $20 30 June 8, 2018, 170,261 2018 $600 January 1, 2019 May24, 2019, 2018 5,502,433 $1.82 $10 May24, 2019, $11.9 2018 May24, 2019, 6,409,980, (iv) 2017 On October 27, 2017, 2017 $15,500,000 30 December 31, 2017, 357,143 $500 $324 321,429 During the nine September 30, 2018, 5,231,953 $2.87 $15 September 30, 2018, $15.5 (v) 2019 On May 24, 2019, may, $40 nine September 30, 2019, not (vi) 2018 On March 27, 2018, may, $30 nine September 30, 2019, 77,349 $2.37 $183 $178 nine September 30, 2018, 2,017,046 $3.49 $7.0 $6.8 3% September 30, 2019, $11.2 $10.9 May 24, 2019. (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: Three months ended Nine months ended (in thousands) 2019 2018 2019 2018 Net loss $ (6,844 ) $ (5,531 ) $ (18,568 ) $ (22,607 ) Weighted-average common shares – basic and diluted 55,454 34,587 47,315 32,039 Net loss per share – basic and diluted $ (0.12 ) $ (0.16 ) $ (0.39 ) $ (0.71 ) The effect of any potential exercise of the Company’s stock options outstanding during the three nine September 30, 2019 September 30, 2018

Note 10 - Stock-based Compensat

Note 10 - Stock-based Compensation	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	10. Stock-based compensation: (a) Stock options Under the Company’s stock option plan, options, rights and other entitlements may 17.5% 9.7 September 30, 2019. four 10 Stock option transactions for the nine September 30, 2019, Option numbers are in (000’s) Nine months ended Weighted Options Weighted average remaining Outstanding, beginning of period 4,489 $ 3.11 Granted 2,018 1.97 Exercised (34 ) 1.11 Forfeited (322 ) 2.36 Expired (47 ) 4.33 Outstanding, end of the period 6,104 2.81 7.82 Exercisable, end of the period 3,340 3.34 6.82 Vested and expected to vest, end of period 5,689 2.86 7.66 As of September 30, 2019, $1.7 1.65 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: Nine months ended Nine months ended Risk-free interest rate 2.21 % 2.43 % Expected dividend yield - - Expected volatility 83.9 % 93.4 % Expected life of options (years) 5 5 Grant date fair value $ 1.32 $ 2.23 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. Stock options granted by the Company during the nine September 30, 2019, 50% one 16.67% three 160,000 50% one 25% two 335,000 100% one Stock options granted by the Company during the nine September 30, 2018 50% one 16.67% three 166,000 50% one 25% two 850,000 (b) Restricted share units The Company has a stock incentive plan (SIP) pursuant to which the Board may one nine September 30, 2019 2018 Nine months ended, Nine months ended, Number Weighted average grant date fair value Number (in thousands) Weighted average Outstanding, beginning of period - $- - $- Granted 80 2.0 150 3.35 Redeemed (40 ) 2.0 - - Outstanding, end of period 40 $ 2.0 150 $ 3.35 On June 3, 2019, 80,000 40,000 three one September 3, 2019, 50% 40,000 On July 13, 2018, 150,000 three The grant date fair value of the June 3, 2019 July 13, 2018 (c) Share-based payment expense The Company recorded share-based payment expense related to stock options and RSUs as follows: Three months ended Nine months ended 2019 2018 2019 2018 Research and development $ 34 $ 307 $ 309 $ 826 General and administrative 470 644 1,425 2,869 $ 504 $ 951 $ 1,734 $ 3,695

Note 11 - Related Party Transac

Note 11 - Related Party Transactions	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	11. Related party transactions: The Company uses Moores Cancer Center at the University of California San Diego (UCSD) to provide pharmacology lab services to the Company. Dr. Stephen Howell is the Acting Chief Medical Officer of Aptose and is also a Professor of Medicine at UCSD and oversees the laboratory work. The work is completed under the terms of research services agreements executed in March 2015 March 2019, twelve $300,000. During the nine September 30, 2019, $154 2018 $215

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	(a) Basis of consolidation: These condensed consolidated interim financial statements include the accounts of its subsidiaries. All intercompany transactions, balances, revenue and expenses are eliminated on consolidation.
Basis of Accounting, Policy [Policy Text Block]	(b) Basis of presentation: The accompanying unaudited condensed consolidated interim financial statements have been prepared in conformity with generally accepted accounting principles in the United States, or GAAP, for the interim financial information and the rules and regulations of the Securities and Exchange Commission, or SEC, related to quarterly reports on Form 10 not 10 March 12, 2019. not may
Use of Estimates, Policy [Policy Text Block]	(c) Significant accounting policies, estimates and judgments: During the three nine September 30, 2019, no 10 December 31, 2018, The preparation of the condensed consolidated interim 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 condensed consolidated interim financial statements include estimates, which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the condensed consolidated interim financial statements and may 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.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	(d) Foreign currency: The functional and presentation currency of the Company is the US dollar.
Lessee, Leases [Policy Text Block]	(e) Leases Effective January 1, 2019, No. 2016 02, 842 twelve Impact of adoption: As a result of adopting Topic 842, January 1, 2019, $1.570 $1.647 $78
Concentration Risk, Credit Risk, Policy [Policy Text Block]	(f) 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

Note 4 - Right-of-use Assets,_2

Note 4 - Right-of-use Assets, Operating Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Right-of-use Assets [Table Text Block]	Nine months ended Year ended Right-of-use assets, January 1, 2019 $ 1,570 - Additions to right-of-use assets 267 - Right-of-use assets, September 30, 2019 1,837 - Accumulated amortization (346 ) - Right-of use assets, NBV 1,491 -

Note 5 - Investments (Tables)

Note 5 - Investments (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Tables
Investment [Table Text Block]	September 30, 2019 Cost Unrealized gain Market value Guaranteed investment certificate(s) $ 9,515 13 9,528 December 31, 2018 Cost Unrealized loss Market value Guaranteed investment certificate(s) $ 458 (18 ) 440

Note 6 - Fair Value Measureme_2

Note 6 - Fair Value Measurements and Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	September 30, 2019 Level 1 Level 2 Level 3 Assets High interest savings account $ 1,889 $ - $ 1,889 - Commercial notes 9,977 - 9,977 - Canadian provincial promissory notes 4,489 - 4,489 - Guaranteed investment certificates, issued by a Canadian financial institution 13,536 - 13,536 - $ 29,891 $ - $ 29,891 $ - December 31, 2018 Level 1 Level 2 Level 3 Assets $ $ $ $ High interest savings account 496 - 496 - United States treasury bills 3,989 - 3,989 - Canadian provincial promissory notes 5,991 - 5,991 - Guaranteed investment certificates, Royal Bank of Canada 4,642 - 4,642 - $ 15,118 $ - $ 15,118 $ -

Note 7 - Accrued Liabilities (T

Note 7 - Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	September 30, December 31, 2019 2018 Accrued personnel related costs $ 1,038 $ 955 Accrued research and development expenses 888 257 Other accrued expenses 295 262 $ 2,221 $ 1,474

Note 8 - Lease Liability (Table

Note 8 - Lease Liability (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Years ending December 31, 2019 $ 127 2020 534 2021 545 2022 463 2023 119 Thereafter - $ 1,788
Lessee, Operating Lease Liability and Weighted Average [Table Text Block]	Nine months ended Weighted-average remaining term – operating leases (years) 3.5 Weighted-average discount rate – operating leases 5.43 % Lease liability, current portion 513 Lease liability, long term portion 1,124 Lease liability, total 1,637
Schedule of Right-of-use Asset Obtained in Exchange For Operating Lease Liability [Table Text Block]	Nine months ended Right-of-use assets recorded upon adoption of Topic 842, January 1, 2019 $ 1,570 Right-of-use assets obtained in exchange for new operating lease liabilities in the period $ 267
Lease, Cost [Table Text Block]	Nine months ended Operating lease cost $ 431 Operating cash flows from operating leases $ 345

Note 9 - Share Capital (Tables)

Note 9 - Share Capital (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended Nine months ended (in thousands) 2019 2018 2019 2018 Net loss $ (6,844 ) $ (5,531 ) $ (18,568 ) $ (22,607 ) Weighted-average common shares – basic and diluted 55,454 34,587 47,315 32,039 Net loss per share – basic and diluted $ (0.12 ) $ (0.16 ) $ (0.39 ) $ (0.71 )

Note 10 - Stock-based Compens_2

Note 10 - Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Option numbers are in (000’s) Nine months ended Weighted Options Weighted average remaining Outstanding, beginning of period 4,489 $ 3.11 Granted 2,018 1.97 Exercised (34 ) 1.11 Forfeited (322 ) 2.36 Expired (47 ) 4.33 Outstanding, end of the period 6,104 2.81 7.82 Exercisable, end of the period 3,340 3.34 6.82 Vested and expected to vest, end of period 5,689 2.86 7.66
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Nine months ended Nine months ended Risk-free interest rate 2.21 % 2.43 % Expected dividend yield - - Expected volatility 83.9 % 93.4 % Expected life of options (years) 5 5 Grant date fair value $ 1.32 $ 2.23
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Nine months ended, Nine months ended, Number Weighted average grant date fair value Number (in thousands) Weighted average Outstanding, beginning of period - $- - $- Granted 80 2.0 150 3.35 Redeemed (40 ) 2.0 - - Outstanding, end of period 40 $ 2.0 150 $ 3.35
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three months ended Nine months ended 2019 2018 2019 2018 Research and development $ 34 $ 307 $ 309 $ 826 General and administrative 470 644 1,425 2,869 $ 504 $ 951 $ 1,734 $ 3,695

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018	Jan. 01, 2018
Operating Lease, Right-of-Use Asset	$ 1,491	$ 1,570
Operating Lease, Liability, Total	$ 1,637	1,647
Accounting Standards Update 2016-02 [Member]
Landlord Inducements		$ (78)

Note 3 - Cash and Cash Equiva_2

Note 3 - Cash and Cash Equivalents (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Cash, Ending Balance	$ 323	$ 621
Cash Equivalents, at Carrying Value, Total	$ 20,363	$ 14,678

Note 4 - Right-of-use Assets,_3

Note 4 - Right-of-use Assets, Operating Leases - Schedule of Right-of-use Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018	Jan. 01, 2019	Jan. 01, 2018
Right-of-use assets	$ 1,491		$ 1,570
Additions to right-of-use assets	267
Right-of-use assets before Accumulated amortization	1,837
Accumulated amortization	(346)
Right-of use assets	$ 1,491		$ 1,570

Note 5 - Investments - Investme

Note 5 - Investments - Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Guaranteed investment certificate, cost	$ 9,515	$ 458
Guaranteed investment certificate, unrealized loss	13	(18)
Guaranteed investment certificate, market value	$ 9,528	$ 440

Note 6 - Fair Value Measureme_3

Note 6 - Fair Value Measurements and Financial Instruments - Assets Measured on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets, fair value	$ 29,891	$ 15,118
Fair Value, Inputs, Level 1 [Member]
Assets, fair value
Fair Value, Inputs, Level 2 [Member]
Assets, fair value	29,891	15,118
Fair Value, Inputs, Level 3 [Member]
Assets, fair value
Bank Time Deposits [Member]
Assets, fair value	1,889	496
Bank Time Deposits [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, fair value
Bank Time Deposits [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, fair value	1,889	496
Bank Time Deposits [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value
Corporate Debt Securities [Member]
Assets, fair value	9,977
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, fair value
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, fair value	9,977
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value
US Treasury Securities [Member]
Assets, fair value		3,989
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, fair value
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, fair value		3,989
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value
Canadian Provincial Promissory Notes [Member]
Assets, fair value	4,489	5,991
Canadian Provincial Promissory Notes [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, fair value
Canadian Provincial Promissory Notes [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, fair value	4,489	5,991
Canadian Provincial Promissory Notes [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value
Investments [Member]
Assets, fair value	13,536	4,642
Investments [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, fair value
Investments [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, fair value	13,536	4,642
Investments [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value

Note 7 - Accrued Liabilities -

Note 7 - Accrued Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Accrued personnel related costs	$ 1,038	$ 955
Accrued research and development expenses	888	257
Other accrued expenses	295	262
	$ 2,221	$ 1,474

Note 8 - Lease Liability (Detai

Note 8 - Lease Liability (Details Textual)	Sep. 30, 2019
Lessee, Operating Lease, Renewal Term	5 years

Note 8 - Lease Liability - Sche

Note 8 - Lease Liability - Schedule of Minimum Payments Under Operating Leases (Details) $ in Thousands	Sep. 30, 2019USD ($)
2019	$ 127
2020	534
2021	545
2022	463
2023	119
Thereafter
	$ 1,788

Note 8 - Lease Liability - Leas

Note 8 - Lease Liability - Lease Liability (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Weighted-average remaining term – operating leases (Year)	3 years 182 days
Weighted-average discount rate – operating leases	5.43%
Lease liability, current portion	$ 513
Lease liability, long term portion	1,124
Operating Lease, Liability, Total	$ 1,637	$ 1,647

Note 8 - Lease Liability - Sc_2

Note 8 - Lease Liability - Schedule of Right-of-use Asset Obtained in Exchange for Operating Lease Liability (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018	Jan. 01, 2019	Jan. 01, 2018
Operating Lease, Right-of-Use Asset	$ 1,491		$ 1,570
Right-of-use assets obtained in exchange for new operating lease liabilities in the period	$ 267

Note 8 - Lease Liability - Oper

Note 8 - Lease Liability - Operating Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Operating lease cost			$ 431
Operating cash flows from operating leases	$ 126		$ 345

Note 9 - Share Capital (Details

Note 9 - Share Capital (Details Textual) - USD ($)	Jun. 03, 2019	May 13, 2019	Jun. 08, 2018	Sep. 30, 2019	Sep. 30, 2018	May 24, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2018	May 24, 2019	Dec. 31, 2017	May 07, 2019	May 30, 2018	Mar. 27, 2018	Oct. 27, 2017
Public Offering [Member]
Stock Issued During Period, Shares, New Issues	11,500,000
Shares Issued, Price Per Share	$ 1.85
Proceeds from Issuance of Common Stock, Gross	$ 21,275,000
Proceeds from Issuance of Common Stock	19,736,000							$ 19,736,000
Stock Issued During Period, Value, New Issues	$ 19,594,000							19,594,000
Stock Issuance, Percent of Cash Commission to Broker	7.00%
The 2019 Share Purchase Agreement [Member]
Stock Issued During Period, Shares, New Issues		171,428
Stock Issued During Period, Value, New Issues		$ 360,000						360,000
Stock Issuance Program, Authorized Amount													$ 20,000,000
Stock Purchase Agreement, Minimum Average Stock Price to Issue More Shares													$ 2.10
The 2019 Share Purchase Agreement [Member] | Aspire [Member]
Stock Purchase Agreement, Maximum Percent of Issued and Outstanding Common Shares Ownable													9.99%
Stock Purchase Agreement, Maximum Percent of Shares Issued													19.99%
The 2018 Purchase Agreement [Member]
Stock Issued During Period, Shares, New Issues			170,261			5,502,433					6,409,980
Shares Issued, Price Per Share						$ 1.82					$ 1.82
Proceeds from Issuance of Common Stock						$ 10,000,000					$ 11,900,000
Stock Issued During Period, Value, New Issues			$ 600,000					10,000,000	600,000
Stock Issuance Program, Authorized Amount														$ 20,000,000
Proceeds from Issuance of Common Stock, Net								10,000,000			11,900,000
The 2017 Purchase Agreement [Member]
Stock Issued During Period, Shares, New Issues									5,231,953			357,143
Shares Issued, Price Per Share					$ 2.87		$ 2.87		$ 2.87	$ 2.87
Proceeds from Issuance of Common Stock									$ 15,000,000
Stock Issued During Period, Value, New Issues									14,995,000
Stock Issuance Program, Authorized Amount																$ 15,500,000
Proceeds from Issuance of Private Placement										$ 15,500,000		$ 500,000
Proceeds from Issuance of Private Placement, Net												$ 324,000
Stock Issued During Period, Shares, Issued for Services												321,429
Proceeds from Issuance of Common Stock, Net									$ 15,000,000
The 2019 ATM Offering [Member]
Stock Issued During Period, Shares, New Issues								0
Stock Issuance Program, Authorized Amount						$ 40,000,000					$ 40,000,000
The 2018 ATM Offering [Member]
Stock Issued During Period, Shares, New Issues								77,349	2,017,046
Shares Issued, Price Per Share				$ 2.37	$ 3.49		$ 3.49	$ 2.37	$ 3.49	$ 3.49
Proceeds from Issuance of Common Stock							$ 11,200,000	$ 183,000	$ 7,000,000
Stock Issued During Period, Value, New Issues								178,000	$ 6,818,000
Stock Issuance, Percent of Cash Commission to Broker					3.00%		3.00%		3.00%	3.00%
Stock Issuance Program, Authorized Amount															$ 30,000,000
Proceeds from Issuance of Common Stock, Net					$ 1,579,000		$ 10,900,000	$ 178,000	$ 6,827,000

Note 9 - Share Capital - Loss P

Note 9 - Share Capital - Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net loss	$ (6,844,000)	$ (5,531,000)	$ (18,568,000)	$ (22,607,000)
Weighted-average common shares – basic and diluted (in shares)	55,454	34,587	47,315	32,039
Net loss per share – basic and diluted (in dollars per share)	$ (0.12)	$ (0.16)	$ (0.39)	$ (0.71)

Note 10 - Stock-based Compens_3

Note 10 - Stock-based Compensation (Details Textual) - USD ($) $ in Millions	Sep. 03, 2019	Jun. 03, 2019	Jul. 13, 2018	Jun. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Subscription Rate					17.50%
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares					9,700,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					4 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period					10 years
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount					$ 1.7
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition					1 year 237 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance					6,104,000		4,489,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period					80,000	150,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period					40,000
Employee Stock Option Vesting Schedule I [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance					160,000	166,000
Employee Stock Option Vesting Schedule II [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				100.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance					335,000	850,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			90 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		80,000	150,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	40,000
Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					50.00%	50.00%
Share-based Payment Arrangement, Tranche One [Member] | Employee Stock Option Vesting Schedule I [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					50.00%	50.00%
Share-based Payment Arrangement, Tranche One [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		90 days
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	50.00%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		40,000
Share-based Payment Arrangement, Tranche Two [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] | Employee Stock Option Vesting Schedule II [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					25.00%	25.00%
Share-based Payment Arrangement, Tranche Two [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		1 year
Share-based Payment Arrangement, Tranche Three [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] | Employee Stock Option Vesting Schedule II [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage						25.00%
Share-based Payment Arrangement, Tranche Three [Member] | Employee Stock Option Vesting Schedule III [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					25.00%
Share-based Compensation Award, Tranche Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage					16.67%	16.67%

Note 10 - Stock-based Compens_4

Note 10 - Stock-based Compensation - Stock Option Transactions (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Outstanding, options (in shares) | shares	4,489
Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 3.11
Granted, options (in shares) | shares	2,018
Granted, weighted average exercise price (in dollars per share) | $ / shares	$ 1.97
Exercised, options (in shares) | shares	(34)
Exercised, weighted average exercise price (in dollars per share) | $ / shares	$ 1.11
Forfeited, options (in shares) | shares	(322)
Forfeited, weighted average exercise price (in dollars per share) | $ / shares	$ 2.36
Expired, options (in shares) | shares	(47)
Expired, weighted average exercise price (in dollars per share) | $ / shares	$ 4.33
Outstanding, options (in shares) | shares	6,104
Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 2.81
Outstanding, weighted average remaining contractual life (Year)	7 years 299 days
Exercisable, end of the period, options (in shares) | shares	3,340
Exercisable, end of the Exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 3.34
Exercisable, weighted average remaining contractual life (Year)	6 years 299 days
Vested and expected to vest, end of period, options (in shares) | shares	5,689
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ / shares	$ 2.86
Vested and expected to vest, weighted average remaining contractual life (Year)	7 years 240 days

Note 10 - Stock-based Compens_5

Note 10 - Stock-based Compensation - Weighted Average Assumptions (Details) - $ / shares	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Risk-free interest rate	2.21%	2.43%
Expected dividend yield
Expected volatility	83.90%	93.40%
Expected life of options (Year)	5 years	5 years
Grant date fair value (in dollars per share)	$ 1.32	$ 2.23

Note 10 - Stock-based Compens_6

Note 10 - Stock-based Compensation - Restricted Stock Units (Details) - $ / shares shares in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Outstanding, beginning of period (in shares)
Outstanding, weighted average grant date fair value (in dollars per share)
Granted (in shares)	80	150
Granted, weighted average grant date fair value (in dollars per share)	$ 2	$ 3.35
Redeemed (in shares)	(40)
Redeemed, weighted average grant date fair value (in dollars per share)	$ 2
Outstanding, end of period (in shares)	40	150
Outstanding, end of Outstanding, weighted average grant date fair value (in dollars per share)	$ 2	$ 3.35

Note 10 - Stock-based Compens_7

Note 10 - Stock-based Compensation - Share-based Payment Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based payment expense	$ 504	$ 951	$ 1,734	$ 3,695
Research and Development Expense [Member]
Share-based payment expense	34	307	309	826
General and Administrative Expense [Member]
Share-based payment expense	$ 470	$ 644	$ 1,425	$ 2,869

Note 11 - Related Party Trans_2

Note 11 - Related Party Transactions (Details Textual) - Moores Cancer Center at University of California San Diego [Member] - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2019
Extension for Services Agreement, Amount, Related Parties			$ 300,000
Research and Development Expense, Related Party [Member]
Related Party Transaction, Amounts of Transaction	$ 154,000	$ 215,000