Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Mar. 22, 2022 | Jun. 30, 2021 | |
Document Information [Line Items] | |||
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 | 2021 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Transition Report | false | ||
Entity File Number | 001-3200 | ||
Entity Incorporation, State or Country Code | CA | ||
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 | ||
Entity Shell Company | false | ||
Entity Public Float | $ 293,330,791 | ||
Entity Common Stock, Shares Outstanding | 92,229,189 | ||
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, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 39,114 | $ 117,393 |
Investments | 40,014 | 5,000 |
Prepaid expenses | 2,476 | 2,554 |
Other current assets | 133 | 129 |
Total current assets | 81,737 | 125,076 |
Non-current assets: | ||
Property and equipment | 323 | 261 |
Right-of-use assets, operating leases | 465 | 925 |
Total non-current assets | 788 | 1,186 |
Total assets | 82,525 | 126,262 |
Current liabilities: | ||
Accounts payable | 1,699 | 2,171 |
Accrued liabilities | 6,016 | 4,102 |
Current portion of lease liability, operating leases | 459 | 539 |
Total current liabilities | 8,174 | 6,812 |
Non-current liabilities: | ||
Lease liability, operating leases | 115 | 535 |
Total liabilities | 8,289 | 7,347 |
Shareholders’ equity: | ||
Common shares, no par value, unlimited authorized shares, 92,215,024 and 88,881,737 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively | 437,386 | 429,523 |
Additional paid-in capital | 63,673 | 50,861 |
Accumulated other comprehensive loss | (4,316) | (4,316) |
Deficit | (422,507) | (357,153) |
Total shareholders’ equity | 74,236 | 118,915 |
Total liabilities and shareholders’ equity | $ 82,525 | $ 126,262 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Position (Parentheticals) - $ / shares $ / shares in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Common shares, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized | Unlimited | Unlimited |
Common shares, issued (in shares) | 92,215,024 | 88,881,737 |
Common shares, outstanding (in shares) | 92,215,024 | 88,881,737 |
Consolidated Statements of Loss
Consolidated Statements of Loss and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue | $ 0 | $ 0 |
Expenses: | ||
Research and development | 45,985 | 29,288 |
General and administrative | 19,462 | 26,480 |
Operating expenses | 65,447 | 55,768 |
Other income : | ||
Interest income | 94 | 522 |
Foreign exchange gain/(loss) | (1) | 8 |
Total other income | 93 | 530 |
Net loss | (65,354) | (55,238) |
Other comprehensive loss: | ||
Unrealized loss on securities available-for-sale | 0 | (18) |
Total comprehensive loss | $ (65,354) | $ (55,256) |
Basic and diluted loss per common share (in dollars per share) | $ (0.73) | $ (0.67) |
Weighted average number of common shares outstanding used in the calculation of (in thousands) | ||
Basic and diluted loss per common share (in shares) | 89,086 | 81,837 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | The 2020 ATM Offering [Member]Common Stock [Member] | The 2020 ATM Offering [Member]Additional Paid-in Capital [Member] | The 2020 ATM Offering [Member]AOCI Attributable to Parent [Member] | The 2020 ATM Offering [Member]Retained Earnings [Member] | The 2020 ATM Offering [Member] | 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] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2019 | 76,108,000 | ||||||||||||||
Balance at Dec. 31, 2019 | $ 365,490 | $ 34,649 | $ (4,298) | $ (301,915) | $ 93,926 | ||||||||||
Common shares issued (in shares) | 11,854,000 | ||||||||||||||
Common shares issued under the May 2020 ATM | $ 58,234 | $ 0 | $ 0 | $ 0 | $ 58,234 | ||||||||||
Common shares issued upon exercise of stock options (in shares) | 235,000 | ||||||||||||||
Common shares issued upon exercise of stock options | $ 998 | (425) | 0 | 0 | 573 | ||||||||||
Stock-based compensation | 0 | 21,438 | 0 | 0 | 21,438 | ||||||||||
Net loss | $ 0 | 0 | 0 | (55,238) | (55,238) | ||||||||||
Common shares issued upon redemption of restricted share units (in shares) | 685,000 | ||||||||||||||
Common shares issued upon redemption of restricted share units | $ 4,801 | (4,801) | 0 | 0 | 0 | ||||||||||
Other comprehensive loss | $ 0 | 0 | (18) | 0 | (18) | ||||||||||
Balance (in shares) at Dec. 31, 2020 | 88,882,000 | ||||||||||||||
Balance at Dec. 31, 2020 | $ 429,523 | 50,861 | (4,316) | (357,153) | 118,915 | ||||||||||
Common shares issued pursuant to the Hanmi licensing fees (in shares) | 3,236,000 | ||||||||||||||
Common shares issued pursuant to the Hanmi licensing fees | $ 7,500 | 0 | 0 | 0 | $ 7,500 | ||||||||||
Common shares issued (in shares) | 15,000 | 15,315 | |||||||||||||
Common shares issued under the May 2020 ATM | $ 36 | $ 0 | $ 0 | $ 0 | $ 36 | ||||||||||
Common shares issued upon exercise of stock options (in shares) | 82,000 | 82,000 | |||||||||||||
Common shares issued upon exercise of stock options | $ 327 | (137) | 0 | 0 | $ 190 | ||||||||||
Stock-based compensation | 0 | 12,949 | 0 | 0 | 12,949 | ||||||||||
Net loss | $ 0 | 0 | 0 | (65,354) | (65,354) | ||||||||||
Balance (in shares) at Dec. 31, 2021 | 92,215,000 | ||||||||||||||
Balance at Dec. 31, 2021 | $ 437,386 | $ 63,673 | $ (4,316) | $ (422,507) | $ 74,236 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | ||
Net loss for the year | $ (65,354) | $ (55,238) |
Items not involving cash: | ||
Stock-based compensation | 12,949 | 21,438 |
Shares issued to Hanmi Pharmaceutical as license fees | 7,500 | 0 |
Depreciation and amortization | 150 | 152 |
Amortization of right-of-use assets | 472 | 462 |
Interest on lease liabilities | 43 | 69 |
Unrealized foreign exchange gain/(loss) | (7) | (8) |
Accrued interest on investments | (18) | 33 |
Change in operating working capital: | ||
Prepaid expenses | 78 | (1,529) |
Operating lease payments | (555) | (537) |
Other assets | (4) | 12 |
Accounts payable | (472) | 211 |
Accrued liabilities | 1,914 | 1,044 |
Cash used in operating activities | (43,304) | (33,891) |
Cash flows from financing activities: | ||
Offering costs paid | 0 | (168) |
Issuance of common shares pursuant to exercise of stock options | 190 | 573 |
Cash provided by financing activities | 226 | 58,807 |
Cash flows from (used in) investing activities: | ||
Maturity (acquisition) of investments, net | (34,996) | 12,707 |
Purchase of property and equipment | (212) | (79) |
Cash provided by (used in) investing activities | (35,208) | 12,628 |
Effect of exchange rate fluctuations on cash and cash equivalents held | 7 | 7 |
Increase/(decrease) in cash and cash equivalents | (78,279) | 37,551 |
Cash and cash equivalents, beginning of year | 117,393 | 79,842 |
Cash and cash equivalents, end of year | 39,114 | 117,393 |
The 2020 ATM Offering [Member] | ||
Cash flows from financing activities: | ||
Issuance of common shares | 36 | 0 |
Public Offering [Member] | ||
Cash flows from financing activities: | ||
Issuance of common shares | $ 0 | $ 58,402 |
Note 1 - Reporting Entity
Note 1 - Reporting Entity | 12 Months Ended |
Dec. 31, 2021 | |
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 precision oncology company developing differentiated kinase inhibitors 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 third 806 1a/b, 1a/b November 2021, HM43239 HM43239 HM43239 FLT3, HM43239 1/2 HM43239 January 1, 2022. December 2021 253, 1a/b We are advancing first not 19 not 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, drug manufacturing costs, laboratory supplies and materials, and professional fees. We do not We believe that our cash, cash equivalents and investments on hand at December 31, 2021 12 twelve may 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 related to COVID- 19, may not may |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Significant accounting policies (a) Basis of consolidation: These consolidated financial statements include the accounts of its subsidiaries. All intercompany transactions, balances, revenue and expenses are eliminated on consolidation. (b) Basis of presentation: 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 (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 include estimates, which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the consolidated 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) Leases The Company’s operating leases of tangible property with terms greater than twelve (e) Cash and cash equivalents: Cash and cash equivalents are short-term highly liquid investments with original maturities of 90 (f) Investments: Investments consist of term deposits with original maturities greater than 90 (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 (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 (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 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 10 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 grant-date fair value of the equity instruments issued in accordance with FASB issued accounting standards update No 2018 07, 718. The Company has a stock incentive plan pursuant to which the Board may (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 US. (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 not 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 December 31, 2021 December 31, 2020, not not |
Note 3 - Cash and Cash Equivale
Note 3 - Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | 3. Cash and cash equivalents: Cash and cash equivalents consists of cash of $294 thousand ( December 31, 2020 90 December 31, 2020 |
Note 4 - Prepaid Expenses
Note 4 - Prepaid Expenses | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Prepaid Expenses [Text Block] | 4. Prepaid expenses: December 31, December 31, 2021 2020 Prepaid research and development expenses $ 632 $ 622 Other prepaid expenses 1,844 1,932 $ 2,476 $ 2,554 |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 5. Property and equipment: December 31, 2021 Cost Accumulated depreciation Net book value Laboratory equipment $ 369 $ 188 $ 181 Computer hardware 198 144 54 Computer software 222 222 - Office furniture 140 95 45 Leasehold improvements 184 141 43 $ 1,113 $ 790 $ 323 December 31, 2020 Cost Accumulated depreciation Net book value Laboratory equipment $ 185 $ 177 $ 8 Computer hardware 170 99 71 Computer software 222 174 48 Office furniture 140 72 68 Leasehold improvements 184 118 66 $ 901 $ 640 $ 261 |
Note 6 - Right-of-use Assets, O
Note 6 - Right-of-use Assets, Operating Leases | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Right-of-use Assets Disclosure [Text Block] | 6. Right-of-use assets, operating leases: Year ended Year ended Right-of-use assets, beginning of year $ 1,848 $ 1,837 Additions to right-of-use assets 12 11 Right-of-use assets, end of year 1,860 1,848 Accumulated amortization (1,395 ) (923 ) Right-of use assets, NBV $ 465 $ 925 |
Note 7 - Investments
Note 7 - Investments | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 7. Investments: Investments consisted of the following as of December 31, 2021 December 31, 2020: December 31, 2021 Cost Unrealized gain Market value Guaranteed Investment Certificate $ 20,016 - 20,016 Commercial notes 19,998 19,998 $ 40,014 - 40,014 December 31, 2020 Cost Unrealized gain Market value United States Treasury Bills $ 5,000 - 5,000 $ 5,000 - 5,000 |
Note 8 - Fair Value Measurement
Note 8 - Fair Value Measurements and Financial Instruments | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 8. 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 fair value of the Company’s financial instruments for the periods presented: December 31, 2021 Level 1 Level 2 Level 3 Assets Money Market accounts $ 17,974 $ - $ 17,974 $ - Money Market Funds 15,801 - 15,801 - High interest savings accounts 5,045 - 5,045 - Commercial notes 19,998 - 19,998 - Guaranteed Investment Certificate 20,016 20,016 $ 78,834 $ - $ 78,834 $ - December 31, 2020 Level 1 Level 2 Level 3 Assets Money Market accounts $ 668 $ - $ 668 $ - Money Market Funds 44,000 - 44,000 - High interest savings accounts 48,397 - 48,397 - United States Treasury Bill 5,000 - 5,000 - Government of Canada Treasury Bill 23,999 - 23,999 - $ 122,064 $ - $ 122,064 $ - |
Note 9 - Accrued Liabilities
Note 9 - Accrued Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 9. Accrued liabilities: Accrued liabilities as of December 31, 2021 December 31, 2020 December 31, December 31, 2021 2020 Accrued personnel related costs $ 2,152 $ 1,917 Accrued research and development expenses 3,520 1,932 Other accrued expenses 344 253 $ 6,016 $ 4,102 |
Note 10 - Lease Liability
Note 10 - Lease Liability | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 10. Lease liability Aptose leases office space and lab space in San Diego, California. The lease for the office space expires on March 31, 2023 February 28, 2022 twelve June 30, 2023 5 not Minimum payments, undiscounted, under our operating leases are as follows: Years ending December 31, 2022 $ 470 2023 123 Thereafter - $ 593 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, December 31, December 31, 2021 2020 Weighted-average remaining term – operating leases (years) 1.2 2.1 Weighted-average discount rate – operating leases 5.37 % 5.40 % Lease liability, current portion $ 459 $ 539 Lease liability, long term portion 115 535 Lease liability, total $ 574 $ 1,074 Operating lease costs and operating cash flows from our operating leases are as follows: Year ended December 31, 2021 Year ended December 31, 2020 Operating lease cost $ 515 $ 530 Operating cash flows from operating leases $ 555 $ 537 |
Note 11 - Share Capital
Note 11 - Share Capital | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 11. Share capital: The Company has authorized share capital of an unlimited number of common voting shares. (a) Equity issuances: (i) On November 4, 2021, HM43239. December 14, 2021, five 5 (ii) 2020 On May 5, 2020, 2020 2020 may, December 31, 2021, (iii) July/August 2020 On July 20, 2020 August 10, 2020, (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 Year ended Net loss $ (65,354 ) $ (55,238 ) Weighted-average common shares – basic and diluted 89,086 81,837 Net loss per share – basic and diluted $ (0.73 ) $ (0.67 ) The effect of any potential exercise of the Company’s stock options outstanding during the year ended December 31, 2021 December 31, 2020 |
Note 12 - Stock-based Compensat
Note 12 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 12. Stock based compensation: (a) Stock option plan and employee stock purchase plan Effective June 1, 2021, 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 2015 June 1, 2021 no 2015 The aggregate number of our common shares, no may June 1, 2021, not not 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 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 will be 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% first February 1 August 1 85% The maximum number of Common Shares which will be made available for sale under the ESPP will be 1,700,000 Common Shares. The Company has not first December 31, 2021. Stock option transactions for the year ended December 31, 2021 December 31, 2020, Option numbers are in (000 s) Weighted average Options Weighted average exercise price remaining contractual life (years) Aggregate Intrinsic Value Outstanding, December 31, 2019 5,941 $ 2.84 Granted 6,362 6.81 Exercised (235 ) 2.45 Forfeited (126 ) 4.50 Outstanding, December 31, 2020 11,942 $ 4.97 Granted 4,659 3.84 Exercised (82 ) 2.32 Forfeited (1,407 ) 5.38 Outstanding, December 31, 2021 15,112 $ 4.61 6.6 $ 96,117 Exercisable, December 31, 2021 8,164 $ 4.50 5.3 $ 96,117 Vested and expected to vest, December 31, 2021 14,068 $ 4.60 6.5 $ 96,117 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 $222 thousand for 2021 2020 As of December 31, 2021, 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, 2021 Year ended December 31, 2020 Risk-free interest rate 0.59 % 1.27 % Expected dividend yield - - Expected volatility 81.8 % 85.9 % Expected life of options (years) 5 5 Grant date fair value $ 2.47 $ 4.59 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: Option numbers are in (000 s) Year ended Year ended Number of options Number of options Cliff vesting after one year anniversary - 300 3 year vesting ( 50% 25% 25% 430 862 4 year vesting ( 50% 16 2/3% 16 2/3% 16 2/3% 3,429 5,200 Earlier of Performance criteria or 4 years 800 - Total stock options granted in the year 4,659 6,362 During the year ended December 31, 2021, one no December 31, 2021, During the year ended December 31, 2021, two not fourth November 11, 2021, (b) Restricted share units The Company has a stock incentive plan (SIP) pursuant to which the Board may one December 31, 2021 2020 Year ended, December 31, 2021 Year ended, December 31, 2020 Number (in thousands) Weighted average grant date fair value Number (in thousands) Weighted average grant date fair value Outstanding, beginning of period - $ - 40 $ 2.00 Granted - - 645 7.32 Vested - - (685 ) 7.01 Outstanding, end of period - $ - - $ - On March 10, 2020, three May 5, 2020, three four July 10, 2020, On June 3, 2019, three one May 5, 2020, one one one July 2, 2020, The grant date fair value of the RSUs was determined as the closing value of the common shares of the Company on the Nasdaq Stock Market on the date prior to the date of grant. (c) Share-based payment expense The Company recorded share-based payment expense related to stock options and RSUs as follows: Year ended Year ended Research and development $ 3,789 $ 3,720 General and administrative 9,160 17,718 Total $ 12,949 $ 21,438 |
Note 13 - Collaborative Agreeme
Note 13 - Collaborative Agreements | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Collaborative Agreements [Text Block] | 13. 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 On November 4, 2021, HM43239. five 5 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 HM43239, second third may not Under the Company’s license agreement with CrystalGenomics for rights to CG- 806, 2 may not On June 13, 2018, 806 2 may not On March 7, 2018, 581, two |
Note 14 - Income Taxes
Note 14 - Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 14. Income taxes: (a) Income taxes For the years ended December 31, 2021 2020, December 31, 2021 December 31, 2020 Loss attributed to US foreign operations $ (52,447 ) $ (39,757 ) Loss attributed to Canadian operations (12,907 ) (15,481 ) Income (loss) before income taxes $ (65,354 ) $ (55,238 ) (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, 2020 Year ended Year ended Net loss $ (65,354 ) $ (55,238 ) Statutory Canadian corporate tax rate 26.5 % 26.5 % Computed expected tax recovery $ (17,319 ) $ (14,638 ) Non-deductible permanent differences 3,707 4,959 Change in valuation allowance 15,274 10,383 Foreign tax rate differential (683 ) (428 ) Prior year true-up adjustments (951 ) (230 ) Other (28 ) (46 ) $ - $ - (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, 2021 December 31, 2020 Net operating losses carried forward $ 49,286 $ 37,362 Research and development expenditures 5,032 5,032 Property, equipment, and other intangible assets 7,261 3,760 Research and development tax credits 4,202 3,597 Financing costs 1,580 2,336 Right-of-use assets 40 40 Total deferred tax assets 67,401 52,127 Valuation allowance (67,401 ) (52,127 ) Net deferred tax asset $ - $ - The valuation allowance at December 31, 2021 not not not not not not The Company has Canadian undeducted research and development expenditures, 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 $3.3 million which are available to reduce future federal taxes payable and begin to expire in 2022, 2038. In addition, the Company has Canadian non-capital loss carryforwards of $177.9 million. To the extent that the non-capital loss carryforwards are not 2026. not 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 five 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 |
Note 15 - Selected Quarterly Fi
Note 15 - Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 15. Selected quarterly financial data (unaudited): Selected financial data (unaudited) for the periods presented was as follows: March 31, 2021 June 30, 2021 September 30, 2021 December 31, 2021 Revenue $ - $ - $ - $ - Net loss (16,227 ) (13,470 ) (11,333 ) (24,324 ) Basic and diluted loss per common share (0.18 ) (0.15 ) (0.13 ) (0.27 ) March 31, 2020 June 30, 2020 September 30, 2020 December 31, 2020 Revenue $ - $ - $ - $ - Net loss (11,526 ) (15,750 ) (13,249 ) (14,713 ) Basic and diluted loss per common share (0.15 ) (0.21 ) (0.15 ) (0.17 ) |
Note 16 - Subsequent Events
Note 16 - Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 16. Subsequent events Subsequent to the year end, the Company issued 3,870,000 stock options to directors, officers, employees and consultants with an average exercise price of $1.34. The stock options vest 50% after one three one two |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | (a) Basis of consolidation: These consolidated 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: 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 |
Use of Estimates, Policy [Policy Text Block] | (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 include estimates, which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the consolidated 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. |
Lessee, Leases [Policy Text Block] | (d) Leases The Company’s operating leases of tangible property with terms greater than twelve |
Cash and Cash Equivalents, Policy [Policy Text Block] | (e) Cash and cash equivalents: Cash and cash equivalents are short-term highly liquid investments with original maturities of 90 |
Investment, Policy [Policy Text Block] | (f) Investments: Investments consist of term deposits with original maturities greater than 90 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | (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 |
Property, Plant and Equipment, Policy [Policy Text Block] | (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 Expense, Policy [Policy Text Block] | (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 |
Fair Value Measurement, Policy [Policy Text Block] | (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. |
Share-based Payment Arrangement [Policy Text Block] | (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 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 10 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 grant-date fair value of the equity instruments issued in accordance with FASB issued accounting standards update No 2018 07, 718. The Company has a stock incentive plan pursuant to which the Board may |
Segment Reporting, Policy [Policy Text Block] | (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 US. |
Earnings Per Share, Policy [Policy Text Block] | (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 Tax, Policy [Policy Text Block] | (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 not 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 December 31, 2021 December 31, 2020, not not |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment, Useful Life [Table Text Block] | 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, 2021 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | December 31, December 31, 2021 2020 Prepaid research and development expenses $ 632 $ 622 Other prepaid expenses 1,844 1,932 $ 2,476 $ 2,554 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2021 Cost Accumulated depreciation Net book value Laboratory equipment $ 369 $ 188 $ 181 Computer hardware 198 144 54 Computer software 222 222 - Office furniture 140 95 45 Leasehold improvements 184 141 43 $ 1,113 $ 790 $ 323 December 31, 2020 Cost Accumulated depreciation Net book value Laboratory equipment $ 185 $ 177 $ 8 Computer hardware 170 99 71 Computer software 222 174 48 Office furniture 140 72 68 Leasehold improvements 184 118 66 $ 901 $ 640 $ 261 |
Note 6 - Right-of-use Assets,_2
Note 6 - Right-of-use Assets, Operating Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Right-of-use Assets [Table Text Block] | Year ended Year ended Right-of-use assets, beginning of year $ 1,848 $ 1,837 Additions to right-of-use assets 12 11 Right-of-use assets, end of year 1,860 1,848 Accumulated amortization (1,395 ) (923 ) Right-of use assets, NBV $ 465 $ 925 |
Note 7 - Investments (Tables)
Note 7 - Investments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Investment [Table Text Block] | December 31, 2021 Cost Unrealized gain Market value Guaranteed Investment Certificate $ 20,016 - 20,016 Commercial notes 19,998 19,998 $ 40,014 - 40,014 December 31, 2020 Cost Unrealized gain Market value United States Treasury Bills $ 5,000 - 5,000 $ 5,000 - 5,000 |
Note 8 - Fair Value Measureme_2
Note 8 - Fair Value Measurements and Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | December 31, 2021 Level 1 Level 2 Level 3 Assets Money Market accounts $ 17,974 $ - $ 17,974 $ - Money Market Funds 15,801 - 15,801 - High interest savings accounts 5,045 - 5,045 - Commercial notes 19,998 - 19,998 - Guaranteed Investment Certificate 20,016 20,016 $ 78,834 $ - $ 78,834 $ - December 31, 2020 Level 1 Level 2 Level 3 Assets Money Market accounts $ 668 $ - $ 668 $ - Money Market Funds 44,000 - 44,000 - High interest savings accounts 48,397 - 48,397 - United States Treasury Bill 5,000 - 5,000 - Government of Canada Treasury Bill 23,999 - 23,999 - $ 122,064 $ - $ 122,064 $ - |
Note 9 - Accrued Liabilities (T
Note 9 - Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, December 31, 2021 2020 Accrued personnel related costs $ 2,152 $ 1,917 Accrued research and development expenses 3,520 1,932 Other accrued expenses 344 253 $ 6,016 $ 4,102 |
Note 10 - Lease Liability (Tabl
Note 10 - Lease Liability (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Years ending December 31, 2022 $ 470 2023 123 Thereafter - $ 593 |
Lessee, Operating Lease Liability and Weighted Average [Table Text Block] | December 31, December 31, 2021 2020 Weighted-average remaining term – operating leases (years) 1.2 2.1 Weighted-average discount rate – operating leases 5.37 % 5.40 % Lease liability, current portion $ 459 $ 539 Lease liability, long term portion 115 535 Lease liability, total $ 574 $ 1,074 |
Lease, Cost [Table Text Block] | Year ended December 31, 2021 Year ended December 31, 2020 Operating lease cost $ 515 $ 530 Operating cash flows from operating leases $ 555 $ 537 |
Note 11 - Share Capital (Tables
Note 11 - Share Capital (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | (in thousands) Year ended Year ended Net loss $ (65,354 ) $ (55,238 ) Weighted-average common shares – basic and diluted 89,086 81,837 Net loss per share – basic and diluted $ (0.73 ) $ (0.67 ) |
Note 12 - Stock-based Compens_2
Note 12 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Option numbers are in (000 s) Weighted average Options Weighted average exercise price remaining contractual life (years) Aggregate Intrinsic Value Outstanding, December 31, 2019 5,941 $ 2.84 Granted 6,362 6.81 Exercised (235 ) 2.45 Forfeited (126 ) 4.50 Outstanding, December 31, 2020 11,942 $ 4.97 Granted 4,659 3.84 Exercised (82 ) 2.32 Forfeited (1,407 ) 5.38 Outstanding, December 31, 2021 15,112 $ 4.61 6.6 $ 96,117 Exercisable, December 31, 2021 8,164 $ 4.50 5.3 $ 96,117 Vested and expected to vest, December 31, 2021 14,068 $ 4.60 6.5 $ 96,117 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year ended December 31, 2021 Year ended December 31, 2020 Risk-free interest rate 0.59 % 1.27 % Expected dividend yield - - Expected volatility 81.8 % 85.9 % Expected life of options (years) 5 5 Grant date fair value $ 2.47 $ 4.59 |
Schedule of Share-based Payment Award, Options, Grants in Period [Table Text Block] | Option numbers are in (000 s) Year ended Year ended Number of options Number of options Cliff vesting after one year anniversary - 300 3 year vesting ( 50% 25% 25% 430 862 4 year vesting ( 50% 16 2/3% 16 2/3% 16 2/3% 3,429 5,200 Earlier of Performance criteria or 4 years 800 - Total stock options granted in the year 4,659 6,362 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Year ended, December 31, 2021 Year ended, December 31, 2020 Number (in thousands) Weighted average grant date fair value Number (in thousands) Weighted average grant date fair value Outstanding, beginning of period - $ - 40 $ 2.00 Granted - - 645 7.32 Vested - - (685 ) 7.01 Outstanding, end of period - $ - - $ - |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year ended Year ended Research and development $ 3,789 $ 3,720 General and administrative 9,160 17,718 Total $ 12,949 $ 21,438 |
Note 14 - Income Taxes (Tables)
Note 14 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | December 31, 2021 December 31, 2020 Loss attributed to US foreign operations $ (52,447 ) $ (39,757 ) Loss attributed to Canadian operations (12,907 ) (15,481 ) Income (loss) before income taxes $ (65,354 ) $ (55,238 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year ended Year ended Net loss $ (65,354 ) $ (55,238 ) Statutory Canadian corporate tax rate 26.5 % 26.5 % Computed expected tax recovery $ (17,319 ) $ (14,638 ) Non-deductible permanent differences 3,707 4,959 Change in valuation allowance 15,274 10,383 Foreign tax rate differential (683 ) (428 ) Prior year true-up adjustments (951 ) (230 ) Other (28 ) (46 ) $ - $ - |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2021 December 31, 2020 Net operating losses carried forward $ 49,286 $ 37,362 Research and development expenditures 5,032 5,032 Property, equipment, and other intangible assets 7,261 3,760 Research and development tax credits 4,202 3,597 Financing costs 1,580 2,336 Right-of-use assets 40 40 Total deferred tax assets 67,401 52,127 Valuation allowance (67,401 ) (52,127 ) Net deferred tax asset $ - $ - |
Note 15 - Selected Quarterly _2
Note 15 - Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | March 31, 2021 June 30, 2021 September 30, 2021 December 31, 2021 Revenue $ - $ - $ - $ - Net loss (16,227 ) (13,470 ) (11,333 ) (24,324 ) Basic and diluted loss per common share (0.18 ) (0.15 ) (0.13 ) (0.27 ) March 31, 2020 June 30, 2020 September 30, 2020 December 31, 2020 Revenue $ - $ - $ - $ - Net loss (11,526 ) (15,750 ) (13,249 ) (14,713 ) Basic and diluted loss per common share (0.15 ) (0.21 ) (0.15 ) (0.17 ) |
Note 2 - Significant Accounti_3
Note 2 - Significant Accounting Policies (Details Textual) | 12 Months Ended |
Dec. 31, 2021 | |
Number of Operating Segments | 1 |
Note 2 - Significant Accounti_4
Note 2 - Significant Accounting Policies - Property, Plant and Equipment Useful Life (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Furniture and Fixtures [Member] | |
Property, plant and equipment, useful life (Year) | 5 years |
Laboratory Equipment [Member] | |
Property, plant and equipment, useful life (Year) | 5 years |
Computer Equipment [Member] | |
Property, plant and equipment, useful life (Year) | 3 years |
Software and Software Development Costs [Member] | |
Property, plant and equipment, useful life (Year) | 3 years |
Note 3 - Cash and Cash Equiva_2
Note 3 - Cash and Cash Equivalents (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Cash, Ending Balance | $ 294 | $ 329 |
Cash Equivalents, at Carrying Value, Total | $ 38,820 | $ 117,064 |
Note 4 - Prepaid Expenses - Pre
Note 4 - Prepaid Expenses - Prepaid Expenses and Other Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Prepaid research and development expenses | $ 632 | $ 622 |
Other prepaid expenses | 1,844 | 1,932 |
Prepaid Expense, Current, Total | $ 2,476 | $ 2,554 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Property, plant and equipment, gross | $ 1,113 | $ 901 |
Accumulated depreciation | 790 | 640 |
Property, plant and equipment, net | 323 | 261 |
Laboratory Equipment [Member] | ||
Property, plant and equipment, gross | 369 | 185 |
Accumulated depreciation | 188 | 177 |
Property, plant and equipment, net | 181 | 8 |
Computer Equipment [Member] | ||
Property, plant and equipment, gross | 198 | 170 |
Accumulated depreciation | 144 | 99 |
Property, plant and equipment, net | 54 | 71 |
Software and Software Development Costs [Member] | ||
Property, plant and equipment, gross | 222 | 222 |
Accumulated depreciation | 222 | 174 |
Property, plant and equipment, net | 0 | 48 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | 140 | 140 |
Accumulated depreciation | 95 | 72 |
Property, plant and equipment, net | 45 | 68 |
Leasehold Improvements [Member] | ||
Property, plant and equipment, gross | 184 | 184 |
Accumulated depreciation | 141 | 118 |
Property, plant and equipment, net | $ 43 | $ 66 |
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, 2021 | Dec. 31, 2020 | |
Right-of-use assets, beginning of year | $ 1,848 | $ 1,837 |
Additions to right-of-use assets | 12 | 11 |
Right-of-use assets, end of year | 1,860 | 1,848 |
Accumulated amortization | (1,395) | (923) |
Right-of use assets, NBV | $ 465 | $ 925 |
Note 7 - Investments - Investme
Note 7 - Investments - Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Investment, Cost | $ 40,014 | $ 5,000 |
Investment, Unrealized gain/(loss) | 0 | 0 |
Investment, Market value | 40,014 | 5,000 |
Guaranteed Investment Certificate [Member] | ||
Investment, Cost | 20,016 | |
Investment, Unrealized gain/(loss) | 0 | |
Investment, Market value | 20,016 | |
US Treasury Securities [Member] | ||
Investment, Cost | 5,000 | |
Investment, Unrealized gain/(loss) | 0 | |
Investment, Market value | $ 5,000 | |
Commercial Notes [Member] | ||
Investment, Cost | 19,998 | |
Investment, Unrealized gain/(loss) | ||
Investment, Market value | $ 19,998 |
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, 2021 | Dec. 31, 2020 |
Assets, fair value | $ 78,834 | $ 122,064 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 78,834 | 122,064 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | 0 | 0 |
Money Market Accounts [Member] | ||
Assets, fair value | 17,974 | 668 |
Money Market Accounts [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 0 | 0 |
Money Market Accounts [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 17,974 | 668 |
Money Market Accounts [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | 0 | 0 |
Money Market Funds [Member] | ||
Assets, fair value | 15,801 | 44,000 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 0 | 0 |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 15,801 | 44,000 |
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | 0 | 0 |
Bank Time Deposits [Member] | ||
Assets, fair value | 5,045 | 48,397 |
Bank Time Deposits [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 0 | 0 |
Bank Time Deposits [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 5,045 | 48,397 |
Bank Time Deposits [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | 0 | 0 |
Commercial Notes [Member] | ||
Assets, fair value | 19,998 | |
Commercial Notes [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 0 | |
Commercial Notes [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 19,998 | |
Commercial Notes [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | 0 | |
US Treasury Securities [Member] | ||
Assets, fair value | 5,000 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 0 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 5,000 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | 0 | |
Corporate Debt Securities [Member] | ||
Assets, fair value | 20,016 | |
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 | 20,016 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | ||
Canadian Treasury Securities [Member] | ||
Assets, fair value | 23,999 | |
Canadian Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | 0 | |
Canadian Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 23,999 | |
Canadian Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | $ 0 |
Note 9 - Accrued Liabilities -
Note 9 - Accrued Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Accrued personnel related costs | $ 2,152 | $ 1,917 |
Accrued research and development expenses | 3,520 | 1,932 |
Other accrued expenses | 344 | 253 |
Accrued Liabilities, Current, Total | $ 6,016 | $ 4,102 |
Note 10 - Lease Liability (Deta
Note 10 - Lease Liability (Details Textual) | Dec. 31, 2021 |
Lessee, Operating Lease, Renewal Term (Year) | 5 years |
Note 10 - Lease Liability - Sch
Note 10 - Lease Liability - Schedule of Minimum Payments Under Operating Leases (Details) $ in Thousands | Dec. 31, 2021USD ($) |
2022 | $ 470 |
2023 | 123 |
Thereafter | 0 |
Lessee, Operating Lease, Liability, to be Paid, Total | $ 593 |
Note 10 - Lease Liability - Lea
Note 10 - Lease Liability - Lease Liability (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Weighted-average remaining term – operating leases (years) (Year) | 1 year 2 months 12 days | 2 years 1 month 6 days |
Weighted-average discount rate – operating leases | 5.37% | 5.40% |
Lease liability, current portion | $ 459 | $ 539 |
Lease liability, long term portion | 115 | 535 |
Lease liability, total | $ 574 | $ 1,074 |
Note 10 - Lease Liability - Ope
Note 10 - Lease Liability - Operating Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Operating lease cost | $ 515 | $ 530 |
Operating cash flows from operating leases | $ 555 | $ 537 |
Note 11 - Share Capital (Detail
Note 11 - Share Capital (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Dec. 14, 2021 | Nov. 04, 2021 | Aug. 10, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | May 05, 2020 |
Stock Issued During Period, Value, Licensing Fee | $ 7,500 | |||||
The 2020 ATM Offering [Member] | ||||||
Stock Issuance Program, Authorized Amount | $ 75,000 | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 15,315 | |||||
Shares Issued, Price Per Share (in dollars per share) | $ 2.446 | |||||
Proceeds from Issuance of Common Stock, Gross | $ 37 | |||||
Proceeds from Issuance of Common Stock | $ 36 | $ 0 | ||||
Stock Issuance, Percent of Cash Commission to Broker | 3.00% | |||||
July 2020 Confidentially Marketed Public Offering [Member] | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | 11,854,472 | |||||
Shares Issued, Price Per Share (in dollars per share) | $ 5.25 | |||||
Proceeds from Issuance of Common Stock, Gross | $ 62,236 | |||||
Stock Issuance, Percent of Cash Commission to Broker | 6.00% | |||||
Proceeds from Issuance of Common Stock, Net of Share Issuance Costs | $ 58,234 | |||||
HM43239 [Member] | ||||||
Stock Issued During Period, Shares, Licensing Fees (in shares) | 3,235,548 | 3,235,548 | ||||
Stock Issued During Period, Value, Licensing Fee | $ 7,500 | $ 7,500 |
Note 11 - Share Capital - Loss
Note 11 - Share Capital - Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net loss | $ (24,324) | $ (11,333) | $ (13,470) | $ (16,227) | $ (14,713) | $ (13,249) | $ (15,750) | $ (11,526) | $ (65,354) | $ (55,238) |
Weighted-average common shares – basic and diluted (in shares) | 89,086 | 81,837 | ||||||||
Net loss per share – basic and diluted (in dollars per share) | $ (0.27) | $ (0.13) | $ (0.15) | $ (0.18) | $ (0.17) | $ (0.15) | $ (0.21) | $ (0.15) | $ (0.73) | $ (0.67) |
Note 12 - Stock-based Compens_3
Note 12 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jul. 10, 2020 | Jul. 02, 2020 | May 05, 2020 | Mar. 10, 2020 | Jun. 03, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Nov. 11, 2021 | Dec. 31, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares (in shares) | 6,343,242 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||||||
Employee Stock Purchase Plan, Maximum Payroll Deduction, Percent | 15.00% | |||||||||
Employee Stock Purchase Plan, Stock Purchase Price, Percent | 85.00% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 15,112,000 | 11,942,000 | 5,941,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 222 | $ 850 | ||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 6,000 | |||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 8 months 4 days | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares) | 8,164,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 4.50 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term (Month) | 5 years 3 months 18 days | |||||||||
Share-based Payment Arrangement, Expense | $ 12,949 | $ 21,438 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 4,659,000 | 6,362,000 | 6,362,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares) | 14,068,000 | |||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 40,000 | 645,000 | 80,000 | 0 | 645,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 4 months | 3 months | ||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total (in shares) | 645,000 | |||||||||
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 40,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 3 months | |||||||||
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 13 months | 1 year | ||||||||
Officer [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares) | 1,679,169 | |||||||||
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 | |||||||||
Officer [Member] | Continuing Vesting Options with No Service Requirement [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number (in shares) | 504,833 | |||||||||
Officer [Member] | Vested Options [Member] | ||||||||||
Share-based Payment Arrangement, Expense | $ 945 | |||||||||
Officer [Member] | Unvested Options [Member] | ||||||||||
Share-based Payment Arrangement, Expense | $ 663 | |||||||||
Officer [Member] | Performance Shares [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 800,000 | |||||||||
Officer [Member] | Minimum [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 1.03 | |||||||||
Officer [Member] | Maximum [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 7.44 | |||||||||
Officer One [Member] | Performance Shares [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 400,000 | |||||||||
Officer One [Member] | Performance Shares [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares) | 200,000 | 200,000 | ||||||||
Officer One [Member] | Performance Shares [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares) | 200,000 | |||||||||
Officer Two [Member] | Performance Shares [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 400,000 | |||||||||
Officer Two [Member] | Performance Shares [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares) | 200,000 | |||||||||
Officer Two [Member] | Performance Shares [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares) | 200,000 | |||||||||
ESPP [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 1,700,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 0 |
Note 12 - Stock-based Compens_4
Note 12 - Stock-based Compensation - Stock Option Transactions (Details) - USD ($) $ / shares in Units, shares in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Outstanding, options (in shares) | 11,942 | 5,941 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 4.97 | $ 2.84 | |
Granted, options (in shares) | 4,659 | 6,362 | 6,362 |
Granted, weighted average exercise price (in dollars per share) | $ 3.84 | $ 6.81 | |
Exercised, options (in shares) | (82) | (235) | |
Exercised, weighted average exercise price (in dollars per share) | $ 2.32 | $ 2.45 | |
Forfeited, options (in shares) | (1,407) | (126) | |
Forfeited, weighted average exercise price (in dollars per share) | $ 5.38 | $ 4.50 | |
Outstanding, options (in shares) | 15,112 | 11,942 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 4.61 | $ 4.97 | |
Outstanding, weighted average remaining contractual life (Year) | 6 years 7 months 6 days | ||
Outstanding, aggregate intrinsic value | $ 96,117 | ||
Exercisable, options (in shares) | 8,164 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 4.50 | ||
Exercisable, weighted average remaining contractual life (Year) | 5 years 3 months 18 days | ||
Exercisable, aggregate intrinsic value | $ 96,117 | ||
Vested and expected to vest, options (in shares) | 14,068 | ||
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ 4.60 | ||
Vested and expected to vest, weighted average remaining contractual life (Year) | 6 years 6 months | ||
Vested and expected to vest, aggregate intrinsic value | $ 96,117 |
Note 12 - Stock-based Compens_5
Note 12 - Stock-based Compensation - Weighted Average Assumptions (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Risk-free interest rate | 0.59% | 1.27% |
Expected dividend yield | 0.00% | 0.00% |
Expected volatility | 81.80% | 85.90% |
Expected life of options (Year) | 5 years | 5 years |
Grant date fair value (in dollars per share) | $ 2.47 | $ 4.59 |
Note 12 - Stock-based Compens_6
Note 12 - Stock-based Compensation - Vesting Terms of Options Granted (Details) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Stock options granted in the period (in shares) | 4,659 | 6,362 | 6,362 |
Options with Cliff Vesting After One Year Anniversary [Member] | |||
Stock options granted in the period (in shares) | 0 | 300 | |
Options with Three Year Vesting [Member] | |||
Stock options granted in the period (in shares) | 430 | 862 | |
Options with Four Year Vesting [Member] | |||
Stock options granted in the period (in shares) | 3,429 | 5,200 | |
Options With Performance Criteria [Member] | |||
Stock options granted in the period (in shares) | 800 | 0 |
Note 12 - Stock-based Compens_7
Note 12 - Stock-based Compensation - Vesting Terms of Options Granted (Details) (Parentheticals) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Options with Three Year Vesting [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||
Vesting percentage | 50.00% | 50.00% |
Options with Three Year Vesting [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||
Vesting percentage | 25.00% | 25.00% |
Options with Three Year Vesting [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||
Vesting percentage | 25.00% | 25.00% |
Options with Four Year Vesting [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||
Vesting percentage | 50.00% | 50.00% |
Options with Four Year Vesting [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||
Vesting percentage | 16.67% | 16.67% |
Options with Four Year Vesting [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||
Vesting percentage | 16.67% | 16.67% |
Options with Four Year Vesting [Member] | Share-based Payment Arrangement, Tranche Four [Member] | ||
Vesting percentage | 16.67% | 16.67% |
Note 12 - Stock-based Compens_8
Note 12 - Stock-based Compensation - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | Jul. 02, 2020 | Mar. 10, 2020 | Jun. 03, 2019 | Dec. 31, 2021 | Dec. 31, 2020 |
Outstanding, beginning of period (in shares) | 0 | 40,000 | |||
Outstanding, beginning of period, weighted average grant date fair value (in dollars per share) | $ 0 | $ 2 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 40,000 | 645,000 | 80,000 | 0 | 645,000 |
Granted, weighted average grant date fair value (in dollars per share) | $ 0 | $ 7.32 | |||
Vested (in shares) | 0 | (685,000) | |||
Vested, weighted average grant date fair value (in dollars per share) | $ 0 | $ 7.01 | |||
Outstanding, end of period (in shares) | 0 | 0 | |||
Outstanding, end of period, weighted average grant date fair value (in dollars per share) | $ 0 | $ 0 |
Note 12 - Stock-based Compens_9
Note 12 - Stock-based Compensation - Share-based Payment Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based payment expense | $ 12,949 | $ 21,438 |
Research and Development Expense [Member] | ||
Share-based payment expense | 3,789 | 3,720 |
General and Administrative Expense [Member] | ||
Share-based payment expense | $ 9,160 | $ 17,718 |
Note 13 - Collaborative Agree_2
Note 13 - Collaborative Agreements (Details Textual) - USD ($) $ in Millions | Dec. 14, 2021 | Nov. 04, 2021 | Dec. 31, 2021 | Jun. 13, 2018 | Mar. 07, 2018 |
Stock Issued During Period, Value, Licensing Fee | $ 7.5 | ||||
CrystalGenomics [Member] | |||||
Collaborative Agreement, Milestone Payment | 16 | ||||
Collaborative Agreement, Regulatory Milestone | $ 44 | ||||
Ohm Oncology [Member] | |||||
Collaborative Agreements, Potential Additional Milestone Payments Receivable | $ 125 | ||||
HM43239 [Member] | |||||
License Fee, Total | $ 12.5 | ||||
Payments for License Fee | 5 | ||||
Stock Issued During Period, Value, Licensing Fee | $ 7.5 | $ 7.5 | |||
Stock Issued During Period, Shares, Licensing Fees (in shares) | 3,235,548 | 3,235,548 | |||
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 [Member] | |||||
Collaborative Agreement, Regulatory Milestone | $ 6 | ||||
Exclusive License to CG806 in China, Regulatory Milestones [Member] | CrystalGenomics [Member] | |||||
Collaborative Agreement, Regulatory Milestone | $ 20 |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 26.50% | 26.50% |
Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | ||
Operating Loss Carryforwards, Total | $ 177.9 | |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Operating Loss Carryforwards, Total | 0.9 | |
Research Tax Credit Carryforward [Member] | ||
Tax Credit Carryforward, Amount | 19 | |
Investment Tax Credit Carryforward [Member] | Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | ||
Tax Credit Carryforward, Amount | 3.3 | |
Investment Tax Credit Carryforward [Member] | Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | ||
Tax Credit Carryforward, Amount | $ 1.8 |
Note 14 - Income Taxes - Net Lo
Note 14 - Income Taxes - Net Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Loss attributed to US foreign operations | $ (52,447) | $ (39,757) | ||||||||
Loss attributed to Canadian operations | (12,907) | (15,481) | ||||||||
Net loss | $ (24,324) | $ (11,333) | $ (13,470) | $ (16,227) | $ (14,713) | $ (13,249) | $ (15,750) | $ (11,526) | $ (65,354) | $ (55,238) |
Note 14 - Income Taxes - Provis
Note 14 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net loss | $ (24,324) | $ (11,333) | $ (13,470) | $ (16,227) | $ (14,713) | $ (13,249) | $ (15,750) | $ (11,526) | $ (65,354) | $ (55,238) |
Statutory Canadian corporate tax rate | 26.50% | 26.50% | ||||||||
Computed expected tax recovery | $ (17,319) | $ (14,638) | ||||||||
Non-deductible permanent differences | 3,707 | 4,959 | ||||||||
Change in valuation allowance | 15,274 | 10,383 | ||||||||
Foreign tax rate differential | (683) | (428) | ||||||||
Prior year true-up adjustments | (951) | (230) | ||||||||
Other | $ (28) | $ (46) |
Note 14 - Income Taxes - Deferr
Note 14 - Income Taxes - Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Net operating losses carried forward | $ 49,286 | $ 37,362 |
Research and development expenditures | 5,032 | 5,032 |
Property, equipment, and other intangible assets | 7,261 | 3,760 |
Research and development tax credits | 4,202 | 3,597 |
Financing costs | 1,580 | 2,336 |
Right-of-use assets | 40 | 40 |
Total deferred tax assets | 67,401 | 52,127 |
Valuation allowance | (67,401) | (52,127) |
Net deferred tax asset | $ 0 | $ 0 |
Note 15 - Selected Quarterly _3
Note 15 - Selected Quarterly Financial Data (Unaudited) - Quarterly Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
Net loss | $ (24,324) | $ (11,333) | $ (13,470) | $ (16,227) | $ (14,713) | $ (13,249) | $ (15,750) | $ (11,526) | $ (65,354) | $ (55,238) |
Basic and diluted loss per common share (in dollars per share) | $ (0.27) | $ (0.13) | $ (0.15) | $ (0.18) | $ (0.17) | $ (0.15) | $ (0.21) | $ (0.15) | $ (0.73) | $ (0.67) |
Note 16 - Subsequent Events (De
Note 16 - Subsequent Events (Details Textual) - $ / shares | Jan. 01, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 4,659,000 | 6,362,000 | 6,362,000 | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 3.84 | $ 6.81 | ||
Options with Four Year Vesting [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 3,429,000 | 5,200,000 | ||
Options with Three Year Vesting [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 430,000 | 862,000 | ||
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 | 50.00% | 50.00% | ||
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 | 50.00% | 50.00% | ||
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 | 25.00% | 25.00% | ||
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 | 25.00% | 25.00% | ||
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) | 3,870,000 | |||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 1.34 | |||
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) | 425,000 | |||
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 | 50.00% | |||
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 | 50.00% | |||
Subsequent Event [Member] | 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% | |||
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 | 25.00% | |||
Subsequent Event [Member] | 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% |