XML 34 R24.htm IDEA: XBRL DOCUMENT v3.22.1
Shareholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Share-based Payment Arrangement, Restricted Stock Unit, Activity
Number of RSUsWeighted-
average grant
date fair value
($)
Outstanding, December 31, 2021354,269 25.85 
Granted10,400 7.55 
Vested and settled(37,398)36.95 
Forfeited(114,430)29.31 
Outstanding, March 31, 2022212,841 21.14 
Summary of Stock Options Granted The following table summarizes the Company’s stock options granted in Canadian dollars under the Original Plan and the New Plan:
Number
of Options		Weighted-
Average
Exercise Price
(C$)		Weighted-
Average
Exercise Price
($)		Weighted-
Average
Contractual
Term
(years)		Aggregate
intrinsic value
(C$)		Aggregate
intrinsic value
($)
Outstanding, December 31, 20212,488,655 26.15 20.70 6.247,919 6,224 
Granted721,685 8.98 7.03 
Exercised(2,112)7.33 5.78 
Forfeited(263,790)37.97 29.93 
Outstanding, March 31, 20222,944,438 20.90 16.71 6.7425 20 
The following table summarizes the Company’s stock options granted in U.S. dollars under the New Plan:
Number
of Options		Weighted-
Average
Exercise Price
($)		Weighted-
Average
Contractual
Term
(years)		Aggregate
intrinsic value
($)
Outstanding, December 31, 20214,916,914 26.59 7.935,555 
Granted2,417,098 8.67 
Exercised— — 
Forfeited(931,435)33.74 
Outstanding, March 31, 20226,402,577 18.79 8.40— 
Schedule of Stock-Based Compensation Expense The estimated fair values of options granted to officers, directors, employees and consultants are amortized over the relevant vesting periods. Stock-based compensation expense for equity classified instruments, as well as the financial statement impact of the amortization and periodic revaluation of liability classified instruments, are recorded in research and development expense, general and administration expense and finance expense as follows:
Three Months Ended March 31,
20222021
Research and development expense:
Stock-based compensation expense (recovery) for equity classified instruments$(2,747)$4,336 
Change in fair value of liability classified instruments(474)(2,513)
$(3,221)$1,823 
General and administrative expense:
Stock-based compensation expense (recovery) for equity classified instruments$(2,232)$4,192 
Change in fair value of liability classified instruments(2,876)(12,951)
$(5,108)$(8,759)
Finance expense (income):
Change in fair value of liability classified instruments(30)(66)
$(30)$(66)
Schedule of Estimated Fair Value of Stock Options Assumptions The estimated fair value of stock options granted under the New Plan was determined using the Black-Scholes option pricing model with the following weighted-average assumptions:
Three Months Ended March 31,
20222021
Dividend yield0 %0 %
Expected volatility77.3 %81.6 %
Risk-free interest rate1.84 %0.98 %
Expected average life of options5.93 years6.07 years
The weighted-average Black-Scholes option pricing assumptions for liability classified stock options outstanding at March 31, 2022 and 2021 are as follows:
March 31,
2022		March 31,
2021
Dividend yield
0 %0 %
Expected volatility
74.8 %86.8 %
Risk-free interest rate
2.04 %0.45 %
Expected average option term
2.20 years2.68 years
Number of liability classified stock options outstanding
911,4001,011,965