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Share Capital (Tables)
 12 Months Ended
Dec. 31, 2019
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, 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

 

Granted

 

 

1,225,575

 

 

 

12.49

 

 

 

9.43

 

 

 

 

 

Exercised(1)

 

 

(266,157

)

 

 

5.56

 

 

 

4.24

 

 

 

1,594

 

Forfeited, cancelled or expired

 

 

(97,088

)

 

 

16.36

 

 

 

12.41

 

 

 

 

 

Outstanding, December 31, 2019

 

 

3,534,236

 

 

 

10.29

 

 

 

7.90

 

 

 

19,618

 

Exercisable, December 31, 2019

 

 

1,946,026

 

 

 

10.02

 

 

 

7.69

 

 

 

11,755

 

 

(1)

During the year ended December 31, 2019, 36,174 (2018 – 49,502) stock options were exercised for the same number of common shares in exchange for cash. In the same period, the Company issued 137,843 (2018 – 106,474) common shares for the cashless exercise of 229,983 (2018 – 201,661) stock options.

 
Summary of Stock Option Outstanding and Exercisable

The following table summarizes the stock options outstanding and exercisable at December 31, 2019:

 

 

 

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. $

 

$2.05 - $4.70

 

 

576,115

 

 

 

4.19

 

 

 

3.79

 

 

 

2.91

 

 

 

476,364

 

 

 

3.61

 

 

 

2.77

 

$4.71 - $7.44

 

 

682,230

 

 

 

7.63

 

 

 

6.82

 

 

 

5.24

 

 

 

366,588

 

 

 

6.94

 

 

 

5.33

 

$7.45 - $8.50

 

 

787,990

 

 

 

5.96

 

 

 

10.48

 

 

 

8.05

 

 

 

677,756

 

 

 

10.43

 

 

 

8.01

 

$8.51 - $9.52

 

 

1,181,034

 

 

 

9.53

 

 

 

12.26

 

 

 

9.42

 

 

 

134,929

 

 

 

12.10

 

 

 

9.30

 

$9.53 - $18.70

 

 

306,867

 

 

 

5.00

 

 

 

22.12

 

 

 

17.00

 

 

 

290,389

 

 

 

22.47

 

 

 

17.26

 

 

 

 

3,534,236

 

 

 

7.10

 

 

 

10.29

 

 

 

7.90

 

 

 

1,946,026

 

 

 

10.02

 

 

 

7.69

 
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, 2019 is as follows:

 

 

 

Number of Options

 

 

Weighted Average Grant Date Fair Value

 

 

 

 

 

 

 

CAD $

 

 

USD $

 

Non-vested, January 1, 2019

 

 

1,105,471

 

 

 

5.61

 

 

 

4.11

 

Granted

 

 

1,225,575

 

 

 

8.11

 

 

 

6.23

 

Vested

 

 

(681,918

)

 

 

6.24

 

 

 

4.79

 

Forfeited or cancelled

 

 

(60,918

)

 

 

8.29

 

 

 

6.37

 

Non-vested, December 31, 2019

 

 

1,588,210

 

 

 

7.17

 

 

 

5.51

 
Fair Value Assumptions for Stock Options

The weighted-average option pricing assumptions are as follows:

 

 

 

Years ended December 31

 

 

2019

 

 

2018

 

 

Average risk-free interest rate

 

 

1.77

%

 

 

2.79

%

 

Expected volatility

 

 

69

%

 

 

75

%

 

Average expected term (in years)

 

 

6.86

 

 

 

7.38

 

 

Expected dividend yield

 

 

0.00

%

 

 

0.00

%

 

Weighted average fair value of options granted

 

$

6.23

 

 

$

3.74

 

 
Stock Based Compensation Expenses

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

 

 

 

Years ended December 31,

 

 

2019

 

 

2018

 

 

Research and development

 

$

1,283

 

 

$

988

 

 

General and administrative

 

 

1,661

 

 

 

1,772

 

 

 

 

$

2,944

 

 

$

2,760