Income taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income tax recovery varies from the amounts that would be computed by applying the expected U.S. federal income tax rate (21%) as shown in the following table:


	December 31,
	2020		2019
Statutory federal income tax rate	(21.0)	%	(21.0)	%
Change in tax rate	—		—
State income taxes	—		—
Foreign rate differential	(0.1)		(0.2)
Acquired in-process research and development	—		14.4
Stock compensation	1.8		2.6
Disposal of Aquinox Canada	(5.2)		—
Change in valuation allowance	26.5		(0.6)
Expiration of NOLs (section 382)	0.5		5.4
Tax Credits	(2.5)		(0.9)
Other	—		0.3
Income tax recovery	—	%	—	%

Schedule of Net (Loss) Income Before Taxes


	Years Ended December 31,
Net loss before taxes (in thousands):	2020		2019
Canada	$	(522)	$	(2,129)
U.S.	(32,755)		(67,313)
Total	$	(33,277)	$	(69,442)

Components of Deferred Income Tax Assets

The significant components of the deferred income tax assets are as follows (in thousands):


	December 31,
	2020		2019
Deferred tax assets:
Canadian net operating losses	$	—	$	39,574
U.S. net operating losses	12,328		5,347
Research and development deductions and credits	1,040		11,062
Intangibles	422		1,189
Lease Liability	2,513		233
Stock Compensation	717		309
Other	162		330
Total deferred tax assets:	17,182		58,044
Deferred income tax liabilities
ROU Assets	2,132		169
Other	157		60
Total deferred tax liabilities	2,289		229
Net deferred income tax assets	14,893		57,815
Less: valuation allowance	(14,893)		(57,815)
Deferred tax assets, net of valuation allowance	$	—	$	—