STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Components and Classification of Stock-Based Compensation Expense

The following table presents the components and classification of stock-based compensation expense recognized for stock options, cash-settled stock-based payments rights (“SPP”), restricted stock units (“RSU”) and shares issued to employees, directors and consultants:

	Three months ended March 31,
(in thousands)		2025 $		2024 $
Equity-settled stock-based payments (including stock options and RSUs)		1,703		1,500
Cash-settled stock-based payments (SPP rights)		(142	)	783
Total stock-based compensation expense		1,561		2,283
Classification of stock-based compensation expense
Cost of products sold		1		1
Research and development expense		615		857
Selling, general and administrative expense		945		1,425
Total stock-based compensation expense		1,561		2,283
Stock-based compensation capitalized to equity (transaction cost)		-		-
Total stock-based compensation		1,561		2,283

Share Price Performance Rights [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Weighted Average Inputs

The inputs used in the measurement of the fair values at reporting date of the SPP rights were as follows:

Service based SPP		March 31, 2025			December 31, 2024
Weighted average fair value per right	$	0.03		$	0.12
Share price at measurement date	$	3.64		$	5.58
Base price	$	15.28		$	15.28
Expected volatility (weighted average)		60.0	%		51.3	%
Expected life (weighted average)		1.0 years			1.2 years
Risk-free interest rate (based on government bonds)		4.22	%		4.21	%

Service and performance based SPP		March 31, 2025			December 31, 2024
Weighted average fair value per right	$	0.22		$	0.71
Share price at measurement date	$	3.64		$	5.58
Base price	$	15.28		$	15.28
Expected volatility (weighted average)		60.0	%		57.5	%
Expected life (weighted average)		2.5 years			2.7 years
Risk-free interest rate (based on government bonds)		3.96	%		4.27	%