Sale of Aquinox Canada	9 Months Ended
Sep. 30, 2021
Disclosure Description Of Subsidiaries [Abstract]
Sale of Aquinox Canada	Sale of Aquinox CanadaOn July 31, 2020, the Company sold all issued and outstanding capital stock of its Canadian subsidiary, Aquinox Pharmaceuticals (Canada) Inc. (“Aquinox Canada”) to an unrelated third party for cash consideration of $8.2 million. The Company concluded that the sale did not meet the criteria for discontinued operations reporting as it did not represent a strategic shift that had a major effect on the Company’s operations and financial results. As of the date of sale, Aquinox Canada’s remaining assets included intellectual property and other assets developed through past research and development activities, all of which had no book value. The transaction resulted in a net gain on sale of $7.8 million, after deducting $0.4 million in transaction costs, which was recorded as a reduction of operating loss in the Company’s condensed consolidated statement of operations. The sale of Aquinox Canada triggered a significant capital loss carryforward for tax purposes. However, most of the capital loss carryforward was limited by the prior ownership change under Section 382 of the Internal Revenue Code. The remaining unlimited portion of the capital loss carryforward was subject to a full valuation allowance as the Company had determined that it was more likely than not that the benefit of the loss would not be realized.

Sale of Aquinox Canada

9 Months Ended

Sep. 30, 2021

Disclosure Description Of Subsidiaries [Abstract]

Sale of Aquinox CanadaOn July 31, 2020, the Company sold all issued and outstanding capital stock of its Canadian subsidiary, Aquinox Pharmaceuticals (Canada) Inc. (“Aquinox Canada”) to an unrelated third party for cash consideration of $8.2 million. The Company concluded that the sale did not meet the criteria for discontinued operations reporting as it did not represent a strategic shift that had a major effect on the Company’s operations and financial results. As of the date of sale, Aquinox Canada’s remaining assets included intellectual property and other assets developed through past research and development activities, all of which had no book value. The transaction resulted in a net gain on sale of $7.8 million, after deducting $0.4 million in transaction costs, which was recorded as a reduction of operating loss in the Company’s condensed consolidated statement of operations. The sale of Aquinox Canada triggered a significant capital loss carryforward for tax purposes. However, most of the capital loss carryforward was limited by the prior ownership change under Section 382 of the Internal Revenue Code. The remaining unlimited portion of the capital loss carryforward was subject to a full valuation allowance as the Company had determined that it was more likely than not that the benefit of the loss would not be realized.