Share Capital (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock Option Activity

The following table presents the summary of stock option activity for the period:

	Number of			Weighted Average Exercise		Aggregate
	Options			Price ($)(1)		Intrinsic Value
Outstanding, December 31, 2020		4,758,997			9.10		30,464
Granted		1,775,450			19.82
Exercised(2)		(690,284	)		7.34		11,306
Forfeited, cancelled or expired		(205,931	)		13.01
Outstanding, December 31, 2021		5,638,232			12.55		105,405
Granted		2,315,645			30.90
Exercised(2)		(780,725	)		9.47		19,651
Forfeited, cancelled or expired		(55,370	)		24.50
Outstanding, December 31, 2022		7,117,782			18.75		147,214
Granted		2,542,473			35.29
Exercised(2)		(587,536	)		13.58		14,526
Forfeited, cancelled or expired		(178,217	)		31.49
Outstanding, December 31, 2023		8,894,502			23.56		200,122
Exercisable, December 31, 2023		4,789,178			16.23		142,900

(1)Canadian dollar denominated stock options have been translated into U.S. dollars at a foreign exchange rate of 0.76 (2022 – 0.74 and 2021 – 0.79) as of December 31, 2023.

(2)During the year ended December 31, 2023, 4,320 (2022 – 68,930 and 2021 – 66,215) stock options were exercised for the same number of common shares in exchange for cash. In the same period, the Company issued 377,114 (2022 – 510,671 and 2021 – 412,940) common shares for the cashless exercise of 583,216 (2022 – 711,795 and 2021 – 624,069) stock options.

Schedule of Nonvested Stock Option Activity

A summary of the Company’s non-vested stock option activity and related information for the year ended December 31, 2023 is as follows:

	Number of Options			Weighted Average Grant Date Fair Value ($)
Non-vested, January 1, 2023		3,587,374			16.60
Granted		2,542,473			22.52
Vested		(1,847,714	)		15.82
Forfeited or cancelled		(176,809	)		18.62
Non-vested, December 31, 2023		4,105,324			20.53

Fair Value Assumptions for Stock Options

The weighted-average option pricing assumptions are as follows:

	Year Ended December 31,
	2023			2022			2021
Average risk-free interest rate		3.93	%		2.39	%		1.16	%
Expected volatility		69	%		70	%		68	%
Average expected term (in years)		5.94			6.16			6.66
Expected dividend yield		0.00	%		0.00	%		0.00	%
Weighted average fair value of options granted	$	22.52		$	19.78		$	12.54

Stock Based Compensation Expenses

Stock-based compensation expense is classified in the consolidated statements of operations and comprehensive income (loss) as follows:

	Year Ended December 31,
	2023		2022		2021
Research and development expenses	$	13,067	$	7,766	$	3,734
General and administrative expenses		19,305		12,610		6,283
	$	32,372	$	20,376	$	10,017

Schedule Of Pre-Funded Warrants Activity

The following table summarizes the pre-funded warrants activity for the years ended December 31, 2023, 2022, and 2021:

	Date of issuance
	March 2021			October 2021			June 2022		December 2023		Total
Outstanding, December 31, 2020		—			—			—		—		—
Issued		1,081,081			1,694,915			—		—		2,775,996
Exercised		—			—			—		—		—
Outstanding, December 31, 2021		1,081,081			1,694,915			—		—		2,775,996
Issued		—			—			327,868		—		327,868
Exercised		—			—			—		—		—
Outstanding, December 31, 2022		1,081,081			1,694,915			327,868		—		3,103,864
Issued		—			—			—		769,230		769,230
Exercised		(1,081,081	)		(618,932	)		—		—		(1,700,013	)
Outstanding, December 31, 2023		—			1,075,983			327,868		769,230		2,173,081