Warrants

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Warrants

Shareholders’ Equity

Under the Memorandum of Association and Articles of Association, or Articles, in effect as of June 30, 2020 and December 31, 2019, the Company had authorized an unlimited number of common shares with no par value.

As of June 30, 2020 and December 31, 2019, 23,762,787 and 21,057,040 common shares, respectively, were issued and 23,354,717 and 20,648,970 common shares, respectively, were outstanding.

During the six months ended June 30, 2020, the Company granted stock options to employees and contractors (see Note 10).

The Company had reserved common shares for future issuances as follows:

	June 30, 2020	December 31, 2019
Warrants to purchase shares	5,500	5,500
Options to purchase shares	2,044,634	1,837,576
Remaining shares available under the 2018 Equity Incentive Plan	1,731,133	1,312,648
Shares issuable on vesting of restricted stock awards	102,670	128,682
Remaining shares available under the 2018 ESPP	474,000	287,000
Total	4,357,937	3,571,406

Warrants

In March 2017, the Company issued warrants for the purchase of 145,000 Class B ordinary shares to parties related to Rockport Ventures, with a fixed exercise price of $3.80 per share.

During the six months ended June 30, 2020, no warrants were exercised. As of each of June 30, 2020 and December 31, 2019, 5,500 warrants to purchase the Company’s common shares were outstanding and exercisable:

Warrant Holder	Issue Date	In Connection With	Warrant to Purchase	Shares	Exercise Price	Expiration Date
Rockport	3/3/2017	Loan agreement	Common	5,500	$3.80	8/28/2022