XML 42 R28.htm IDEA: XBRL DOCUMENT v3.10.0.1
Share Capital (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Option Activity

Summary of stock option activity is as follows: 

 

 

 

Number of

 

 

Weighted Average Exercise Price

 

 

Aggregate

 

 

 

Options

 

 

CAD $

 

 

U.S. $

 

 

Intrinsic Value

 

Outstanding, December 31, 2016

 

 

1,910,823

 

 

 

9.84

 

 

 

7.32

 

 

 

4,464

 

Granted

 

 

620,950

 

 

 

8.69

 

 

 

6.69

 

 

 

 

 

Exercised(1)

 

 

(71,006

)

 

 

3.72

 

 

 

2.86

 

 

 

108

 

Forfeited, cancelled or expired

 

 

(120,862

)

 

 

9.06

 

 

 

6.98

 

 

 

 

 

Outstanding, December 31, 2017

 

 

2,339,905

 

 

 

9.32

 

 

 

7.41

 

 

 

159

 

Granted

 

 

706,600

 

 

 

6.73

 

 

 

5.19

 

 

 

 

 

Exercised(1)

 

 

(251,163

)

 

 

4.57

 

 

 

3.53

 

 

 

1,028

 

Forfeited, cancelled or expired

 

 

(123,436

)

 

 

13.61

 

 

 

10.50

 

 

 

 

 

Outstanding, December 31, 2018

 

 

2,671,906

 

 

 

9.49

 

 

 

6.96

 

 

 

3,483

 

Exercisable, December 31, 2018

 

 

1,566,435

 

 

 

10.70

 

 

 

7.84

 

 

 

2,198

 

 

(1)

During the year ended December 31, 2018, 49,502 (2017 – 63,425) stock options were exercised for the same number of common shares in exchange for cash. In the same period, the Company issued 106,474 (2017 – 4,405) common shares for the cashless exercise of 201,661 (2017 – 7,581) stock options.

 
Summary of Stock Option Outstanding and Exercisable

The following table summarizes the stock options outstanding and exercisable at December 31, 2018:

 

 

 

Options Outstanding

 

 

Options Exercisable

 

Range of Exercise Prices

 

Number of

Options

Outstanding

 

 

Weighted

Average

Remaining

Contractual Life

 

 

Weighted Average

Exercise Price

 

 

Number of

Options

Exercisable

 

 

Weighted Average

Exercise Price

 

U.S. $

 

 

 

 

 

(years)

 

 

CAD $

 

 

U.S. $

 

 

 

 

 

 

CAD $

 

 

U.S. $

 

$1.96 - $2.74

 

 

529,675

 

 

 

2.34

 

 

 

3.42

 

 

 

2.51

 

 

 

529,675

 

 

 

3.42

 

 

 

2.51

 

$2.75 - $4.70

 

 

237,188

 

 

 

8.84

 

 

 

4.80

 

 

 

3.52

 

 

 

59,589

 

 

 

4.41

 

 

 

3.23

 

$4.71 - $5.35

 

 

508,050

 

 

 

9.19

 

 

 

6.48

 

 

 

4.75

 

 

 

—

 

 

 

—

 

 

 

—

 

$5.36 - $7.59

 

 

391,469

 

 

 

7.61

 

 

 

9.49

 

 

 

6.96

 

 

 

209,664

 

 

 

9.95

 

 

 

7.30

 

$7.60 - $8.35

 

 

269,354

 

 

 

6.13

 

 

 

10.69

 

 

 

7.84

 

 

 

232,869

 

 

 

10.70

 

 

 

7.84

 

$8.36 - $8.98

 

 

365,052

 

 

 

8.17

 

 

 

11.47

 

 

 

8.41

 

 

 

184,322

 

 

 

11.48

 

 

 

8.42

 

$8.99 - $18.70

 

 

371,118

 

 

 

6.39

 

 

 

22.43

 

 

 

16.45

 

 

 

350,316

 

 

 

22.81

 

 

 

16.72

 

 

 

 

2,671,906

 

 

 

6.73

 

 

 

9.49

 

 

 

6.96

 

 

 

1,566,435

 

 

 

10.70

 

 

 

7.84

 
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, 2018 is as follows:

 

 

 

Number of Options

 

 

Weighted Average Grant Date Fair Value

 

 

 

 

 

 

 

CAD $

 

 

USD $

 

Non-vested, January 1, 2018

 

 

900,604

 

 

 

7.12

 

 

 

5.66

 

Granted

 

 

706,600

 

 

 

4.84

 

 

 

3.74

 

Vested

 

 

(437,771

)

 

 

8.47

 

 

 

6.54

 

Forfeited or cancelled

 

 

(63,962

)

 

 

6.70

 

 

 

5.17

 

Non-vested, December 31, 2018

 

 

1,105,471

 

 

 

5.61

 

 

 

4.11

 
Fair Value Assumptions for Stock Options

The weighted-average option pricing assumptions are as follows:

 

 

 

Years ended December 31

 

 

2018

 

 

2017

 

 

Average risk-free interest rate

 

 

2.79

%

 

 

2.35

%

 

Expected volatility

 

 

75

%

 

 

80

%

 

Average expected term (in years)

 

 

7.38

 

 

 

7.37

 

 

Expected dividend yield

 

 

0.00

%

 

 

0.00

%

 

Weighted average fair value of options granted

 

$

3.74

 

 

$

5.02

 

 
Stock Based Compensation Expenses

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

 

 

 

Years ended December 31,

 

 

2018

 

 

2017

 

 

Research and development

 

$

988

 

 

$

985

 

 

General and administrative

 

 

1,772

 

 

 

1,251

 

 

 

 

$

2,760

 

 

$

2,236