XML 31 R24.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Share Capital (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule Of Pre-Funded Warrants Activity

The following table summarizes the pre-funded warrants activity for the three and six months ended June 30, 2024 and 2023:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Outstanding, beginning of period

 

 

2,173,081

 

 

 

2,678,861

 

 

 

2,173,081

 

 

 

3,103,864

 

Exercised (1)

 

 

—

 

 

 

(425,003

)

 

 

—

 

 

 

(850,006

)

Outstanding, end of period

 

 

2,173,081

 

 

 

2,253,858

 

 

 

2,173,081

 

 

 

2,253,858

 

 

(1)
During the six months ended June 30, 2023, the Company issued 850,000 common shares upon the exercise of 850,006 pre-funded warrants pursuant to a net exercise mechanism under the warrants.
Stock Option Activity

The following table presents stock option activity for the six months ended June 30, 2024 and 2023:

 

 

 

Six Months Ended June 30,

 

 

2024

 

Weighted Average
Exercise Price ($)

 

 

2023

 

Weighted Average
Exercise Price ($)

 

 

Outstanding, beginning of period

 

 

8,894,502

 

 

23.56

 

 

 

7,117,782

 

 

18.75

 

 

Granted

 

 

2,387,619

 

 

43.71

 

 

 

2,093,973

 

 

34.85

 

 

Exercised(1)

 

 

(448,069

)

 

14.51

 

 

 

(391,746

)

 

11.15

 

 

Forfeited, cancelled or expired

 

 

(50,254

)

 

35.22

 

 

 

(138,201

)

 

30.01

 

 

Outstanding, end of period

 

 

10,783,798

 

 

28.35

 

 

 

8,681,808

 

 

22.80

 

 

Exercisable, end of period

 

 

5,719,543

 

 

19.94

 

 

 

4,316,058

 

 

15.24

 

 

 

(1)
During the six months ended June 30, 2024, the Company issued 296,573 (2023 – 280,649) common shares for the cashless exercise of 448,069 (2023 – 391,746) stock options.
Fair Value Assumptions for Stock Options

The fair value of each stock option granted is estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Average risk-free interest rate

 

 

4.39

%

 

 

3.69

%

 

 

4.11

%

 

 

3.85

%

Expected volatility

 

 

65

%

 

 

69

%

 

 

66

%

 

 

69

%

Average expected term (in years)

 

 

5.48

 

 

 

6.14

 

 

 

5.85

 

 

 

6.13

 

Expected dividend yield

 

 

0

%

 

 

0

%

 

 

0

%

 

 

0

%

Weighted average fair value of stock options granted

 

$

23.97

 

 

$

25.42

 

 

$

27.23

 

 

$

22.54