Shareholders' equity (Tables)

3 Months Ended

Mar. 31, 2020

Shareholders’ equity

Schedule of additional paid-in capital

	Three months ended March 31,
	2020		2019
Opening balance	$	3,805	$	2,655
Share-based compensation expense		981		211
Exercise of stock options		(56)		(26)
Closing balance	$	4,730	$	2,840

Schedule of outstanding and exercisable options

The total outstanding and exercisable options from the 2011 Plan and 2019 Plan as at March 31 were as follows:

	2020							2019
		Number				Weighted		Number	Weighted
		of shares				average		of shares	average
						exercise			exercise
		2019 Plan		2011 Plan	Total	price		2011 Plan	price
Outstanding at beginning of period - 2011 Plan		—		2,364,526	2,364,526	$	2.15	2,295,045	$	1.77
Outstanding at beginning of period - 2019 Plan		220,140		—	220,140		20.78	—		—
Granted - 2011 Plan		—		—	—		—	116,742		9.42
Granted - 2019 Plan		765,160		—	765,160		21.49	—		—
Exercised - 2011		—		(53,722)	(53,722)		1.44	(18,153)		1.32
Forfeited - 2011		—		(4,978)	(4,978)		2.12	—		—
Forfeited - 2019		(2,750)		—	(2,750)		21.48	—		—
Outstanding - 3/31/2020		982,550		2,305,826	3,288,376	$	7.89	2,393,634	$	1.99
Outstanding - 3/31/2020 - Weighted average exercise price	$	21.33	$	2.17
Exercisable at end of period		5,660		1,327,637	1,333,297	$	1.92	670,168	$	1.35
Exercisable at end of period - Weighted average exercise price	$	18.43	$	1.85

Schedule of non-vested share options activity

The non-vested options as at March 31 were as follows:

	2020							2019
		Number				Weighted		Number	Weighted
		of options				average		of options	average
		2019 Plan		2011 Plan	Total	fair value		2011 Plan	fair value
Non-vested share options at beginning of period - 2011 Plan		—		1,152,300	1,152,300	$	1.88	1,706,303	$	1.35
Non-vested share options at beginning of period - 2019 Plan		218,975		—	218,975	$	14.44	—		—
Granted - 2011 Plan		—		—	—		—	116,742		6.65
Granted - 2019 Plan		765,160		—	765,160		15.19	—		—
Vested, outstanding		—		(169,133)	(169,133)		5.81	(99,579)		1.18
Vested, outstanding		(4,495)		—	(4,495)		12.85	—		—
Forfeited - 2011		—		(4,978)	(4,978)		1.52	—		—
Forfeited - 2019		(2,750)		—	(2,750)		15.25	—		—
Non-vested share options at end of period		976,890		978,189	1,955,079	$	8.12	1,723,466	$	1.72
Non-vested share options at end of period - Weighted average fair value	$	11.80	$	1.21

Schedule of weighted average assumptions for the options granted

	Three months ended March 31,
	2020			2019
Exercise price	$	21.41		$	9.42
Share price	$	21.41		$	9.42
Volatility		82	%		80	%
Risk-free interest rate		1.60	%		2.50	%
Expected life		6.24			6.25
Dividend		0	%		0	%

Schedule of share-based compensation expense

	Three months ended March 31,
	2020		2019
Administration	$	399	$	70
Research and development		386		125
Commercial activities		196		16
	$	981	$	211