Quarterly report pursuant to Section 13 or 15(d)

Common Stock (Tables)

v3.23.2
Common Stock (Tables)
6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Summary of Stock Options Activity

Stock option transactions and the number of stock options outstanding are summarized below:

 

 

 

Number of

 

 

Weighted

 

 

 

Optioned

 

 

Average

 

 

 

Common

 

 

Exercise

 

 

 

Shares

 

 

Price

 

Balance, December 31, 2022

 

 

822,515

 

 

$

18.57

 

Granted

 

 

639,500

 

 

 

5.23

 

Expired

 

 

(33

)

 

 

26,045.33

 

Balance, June 30, 2023

 

 

1,461,982

 

 

$

12.15

 

Summary of Fair Value of Each Stock Award for Employees and Directors

The fair value of each stock award for employees and directors is estimated on the grant date and for consultants at each reporting period, using the Black-Scholes option-pricing model based on the weighted-average assumptions noted in the following table:

 

 

 

Six Months Ended

 

 

 

June 30,

 

 

 

2023

 

 

2022

 

Risk-free interest rates

 

 

3.60

%

 

 

1.65

%

Expected dividend yield

 

 

0

%

 

 

0

%

Expected life

 

 

5.75

 

 

 

5.80

 

Expected volatility

 

 

115.19

%

 

 

122.80

%

Summary of Share-Based Compensation Expense

The results for the periods set forth below included share-based compensation expense for stock options, restricted stock units and employee share purchase plan compensation expenses in the following expense categories of the consolidated statements of loss (in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Research and development

 

$

403

 

 

$

289

 

 

$

786

 

 

$

564

 

General and administrative

 

$

786

 

 

 

551

 

 

 

1,489

 

 

 

1,099

 

Total stock-based compensation

 

$

1,189

 

 

$

840

 

 

$

2,275

 

 

$

1,663

 

Summary of Restricted Stock Unit Award Activity

The following table summarizes our restricted stock unit award activity during the six months ended June 30, 2023:

 

 

 

 

 

Weighted

 

 

 

Number

 

 

Average

 

 

 

of

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

Balance, December 31, 2022

 

 

252,875

 

 

$

8.77

 

Granted

 

 

394,750

 

 

 

4.90

 

Released

 

 

(139,750

)

 

 

9.18

 

Balance, June 30, 2023

 

 

507,875

 

 

$

5.65

 

Summary of Outstanding Warrants

The following is a summary of outstanding warrants to purchase common stock as at June 30, 2023:

 

 

 

Total

 

 

 

 

 

 

 

 

Outstanding

 

 

Exercise

 

 

 

 

 

and

 

 

price per

 

 

 

 

 

Exercisable

 

 

Share

 

 

Expiration Date

(1) Warrants issued in October 2018 financing

 

 

31,215

 

 

$

62.890

 

 

October 2023

(2) Warrants issued in May 2019 financing

 

 

60,000

 

 

$

90.000

 

 

May 2025

(3) Warrants issued in December 2019 financing

 

 

510,924

 

 

$

2.310

 

 

December 2024

(4) Warrants issued in April 2020 financing

 

 

182,461

 

 

$

7.240

 

 

April 2025

(5) Warrants issued in April 2020 financing

 

 

24,375

 

 

$

7.320

 

 

April 2025

(6) Warrants issued in April 2020 financing

 

 

25,270

 

 

$

7.590

 

 

April 2025

(7) Pre-Funded warrants issued in August 2020 financing

 

 

142,857

 

 

$

0.001

 

 

*

(8) Warrants issued in December 2020 financing

 

 

50,000

 

 

$

8.750

 

 

December 2025

(9) Warrants issued in November 2022 financing

 

 

4,093,141

 

 

$

4.500

 

 

November 2029

 

*The pre-funded warrants do not have an expiration date.