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Stock based compensation (Tables)
 6 Months Ended 11 Months Ended
Jun. 30, 2020
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]    
Schedule of share based expenses
The following table summarizes stock-based compensation expense reflected in the consolidated statements of operations:

Three months endedSix months ended
June 30June 30
2020201920202019
(in thousands)
Research and development$380 $119 $464 $178 
General and administrative150 145 363 426 
$530 $264 $827 $604 
The Company recorded stock-based compensation expense related to stock options and restricted stock units in the following expense categories of its consolidated statements of operations and comprehensive (loss)/income:


Eleven Months ended December 31, 2019
Year ended January 31, 2019
Year ended January 31, 2018
Research and development
$
381 
$
1,448 
$
425 
General and administrative
$
464 4,847 1,666 
Total share based expenses
$
845 
$
6,295 
$
2,091 
Schedule of outstanding share options  
At December 31, 2019, the outstanding share options, which include the share options granted to Directors, are shown below: 
Date of grantExercise
price 		Number of
shares		Date from which
exercisable		Expiry date
Approved EMI scheme
April 7, 20115.30 1,174 April 8, 2014April 7, 2021
May 10, 20124.85 30,009 May 10, 2014May 10, 2022
December 24, 20126.85 4,300 December 24, 2015December 24, 2022
January 31, 20131.59 14,594 July 31, 2013January 31, 2023
50,077 
Unapproved scheme
December 18, 20131.64 15,272 June 18, 2014December 18, 2023
July 15, 20146.90 20,000 May 30, 2015May 30, 2023
June 23, 20160.05 22,115 July 21, 2016June 23, 2026
October 19, 20181.92 788,377 October 19, 2019October 19, 2028
October 19, 20181.92 762,994 October 19, 2021October 19, 2028
March 29, 20191.79 916,000 March 29, 2020March 29, 2029
March 29, 20191.79 1,300,000 March 29, 2022March 29, 2029
December 23, 20191.36600,000 December 23, 2020December 23, 2029
December 23, 20191.36170,000 December 23, 2020December 23, 2029
4,594,758 
4,644,835 
Schedule of stock option activity
The following table summarizes stock option activity as of June 30, 2020, and changes during the six months ended June 30, 2020:
Six months ended June 30, 2020Weighted average exercise price
Outstanding at January 1, 20204,644,835$1.80 
Granted 3,847,217$3.33 
Lapsed / surrendered (3,513,708)$2.23 
Number of outstanding options4,978,344 $1.97 
Exercisable at June 30, 2020632,069 $2.12 
The following table summarizes stock option activity as of December 31, 2019, and changes during the period ended December 31, 2019:     
`Number of share optionsWeighted average exercise priceWeighted average remaining contractual termAggregate intrinsic value
Outstanding at February 1, 20191,833,679 $2.45 
Granted during the year3,049,200 1.70 
Lapsed / surrendered during the year(238,044)5.25 
Number of options outstanding at December 31, 2019 4,644,835 $1.80 9.1 years$— 
Vested or expected to vest at December 31, 2019201,014 $2.75 9.1 years$— 
Exercisable at December 31, 2019201,014 $2.75 9.1 years$— 
Schedule of fair value per share option award granted and the assumptions used  
The fair value per share option award granted and the assumptions used in the calculations are as follows:
Date of grantType of
award		Number of
shares		Exercise
price 		Share price
at grant
date 		Fair value
per option
Award
life
(years)		Risk free
rate
April 07, 2011EMI1,174 5.30 5.30 3.85 5.002.70 %
May 10, 2012EMI30,009 4.85 4.20 1.95 5.001.00 %
December 24, 2012EMI4,300 6.85 6.85 4.75 5.000.90 %
January 31, 2013EMI14,594 1.60 7.45 5.85 5.001.00 %
December 18, 2013Unapproved15,272 1.65 15.15 13.50 5.001.00 %
July 15, 2014Unapproved20,000 6.90 6.90 5.55 1.900.50 %
June 23, 2016Unapproved22,115 0.05 7.75 7.70 0.500.30 %
October 19, 2018Unapproved788,377 1.90 1.90 0.60 3.000.81 %
October 19, 2018Unapproved762,994 1.90 1.90 0.80 3.000.90 %
March 29, 2019Unapproved916,000 1.8 1.8 0.653.000.63 %
March 29, 2019Unapproved1,300,000 1.8 1.8 0.803.000.63 %
December 23, 2019Unapproved600,000 1.351.350.554.000.54 %
December 23, 2019Unapproved170,000 1.351.350.453.000.54 %
4,644,835 
Schedule of outstanding RSU's  
At December 31, 2019, the outstanding restricted stock units ("RSUs") in the form of nominal-cost options, which have been granted to non-executive directors, are shown below: 
Date of grantExercise
price 		Number of
shares		Date from which
exercisable		Expiry date
January 11, 20190.05 138,461 January 11, 2020December 31, 2020
138,461 
Schedule of RSU activity
The following table summarizes restricted stock units ("RSUs") granted in the form of a nominal-cost options as of June 30, 2020 and changes during the six months ended June 30, 2020:
Six months ended June 30, 2020Weighted average exercise price
Outstanding at January 1138,461 $0.05 
Exercised during the period(53,846)$0.05 
Number of outstanding RSUs84,615 $0.05 
The movement in the number of RSUs is set out below:
Number of sharesWeighted average exercise priceWeighted average remaining contractual termAggregate intrinsic value
Outstanding at February 1, 2019162,851 $0.05 
Exercised during the year(24,390)0.05 
Number of RSUs outstanding at December 31, 2019138,461 $0.05 1 year$1.55 
Vested or expected to vest at December 31, 2019— $0.05 1 year$— 
Schedule of share-based compensation arrangements  
Date of grantNumber of
shares		Exercise
price 		Share price
at grant
date 		Fair value
per option
Award
life
(years)		Risk free
rate
January 11, 2019138,461 $0.05 $1.65 $1.60 1 year0.79 %
Date of grantExercise
price 		Number of
shares		Date from which
exercisable		Expiry date
December 24, 20191.45 3,358,732 March 24, 2020December 24, 2029
3,358,732 
The fair value per consultant warrant granted and the assumptions used in the calculations are as follows:
Date of grantNumber of
shares		Exercise
price 		Share price
at grant
date 		Fair value
per option
Award
life
(years)		Risk free
rate
December 24, 20193,358,732 1.45 1.35 0.40 3.000.54 %
Schedule of warrant activity
The following table summarizes consultant warrant activity as of June 30, 2020, and changes during the six months ended June 30, 2020:

Six months ended June 30, 2020Weighted average exercise price
Outstanding at January 13,358,732 $1.45 
Lapsed / surrendered(2,798,944)$1.45 
Number of outstanding warrants559,788 $1.45