Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 17, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | FENNEC PHARMACEUTICALS INC. | ||
Entity Central Index Key | 1,211,583 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 10,156,736 | ||
Trading Symbol | FENCF | ||
Entity Common Stock, Shares Outstanding | 13,642,567 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 3,926 | $ 942 |
Prepaid expenses | 43 | 76 |
Other current assets | 3 | 1 |
Total assets | 3,972 | 1,019 |
Current liabilities: | ||
Accounts payable | 244 | 297 |
Accrued liabilities | 125 | 92 |
Derivative instruments (Note 5) | 33 | 82 |
Total current liabilities | 402 | 471 |
Total liabilities | 402 | 471 |
Commitments and Contingencies (Note 9) | ||
Shareholders' equity: | ||
Common stock, no par value; unlimited shares authorized; 13,643 shares issued and outstanding (2015-10,940) | 74,515 | 69,401 |
Additional paid-in capital | 42,134 | 41,437 |
Accumulated deficit | (114,322) | (111,533) |
Accumulated other comprehensive income | 1,243 | 1,243 |
Total shareholders’ equity | 3,570 | 548 |
Total liabilities and shareholders’ equity | $ 3,972 | $ 1,019 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Common stock, no par value | $ 0 | $ 0 |
Common stock, shares issued | 13,643 | 10,940 |
Common stock, shares outstanding | 13,643 | 10,940 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue | $ 0 | $ 0 |
Operating expenses: | ||
Research and development | 472 | 256 |
General and administrative | 2,399 | 1,634 |
Loss from operations | (2,871) | (1,890) |
Other income/(expense): | ||
Unrealized gain on derivatives (Note 5) | 48 | 1,237 |
Sale of Eniluracil (Note 8) | 40 | 0 |
Other loss | (14) | (9) |
Net interest income | 8 | 3 |
Total other income, net | 82 | 1,231 |
Net loss | $ (2,789) | $ (659) |
Loss per common share, basic and diluted | $ (0.22) | $ (0.06) |
Weighted-average number of common shares outstanding, basic (Note 3) | 12,765 | 10,827 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Operating activities: | ||
Net (loss) | $ (2,789) | $ (659) |
Adjustments to reconcile net (loss) to net cash used in operating activities: | ||
Unrealized gain on derivatives | (48) | (1,237) |
Stock-based compensation - consultants | 88 | 0 |
Stock-based compensation - employees | 615 | 97 |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 33 | (28) |
Other assets | (2) | 16 |
Accounts payable | (54) | (11) |
Accrued liabilities | 33 | (40) |
Net cash used in operating activities | (2,124) | (1,862) |
Investing activity: | ||
Net cash used in investing activity | 0 | 0 |
Financing activities: | ||
Issuance of shares, net of issuance costs | 5,000 | 0 |
Issuance of shares, options exercise | 6 | 48 |
Issuance of shares, warrants exercise | 102 | 449 |
Net cash provided by financing activities | 5,108 | 497 |
Effect of exchange rate on cash and cash equivalents | 0 | 0 |
(Decrease) increase in cash and cash equivalents | 2,984 | (1,365) |
Cash and cash equivalents - Beginning of year | 942 | 2,307 |
Cash and cash equivalents - End of year | $ 3,926 | $ 942 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Income | Accumulated Deficit |
Balance at Dec. 31, 2014 | $ 613 | $ 68,656 | $ 41,588 | $ 1,243 | $ (110,874) |
Balance (in shares) at Dec. 31, 2014 | 10,593 | ||||
Stock options issued | 97 | $ 0 | 97 | 0 | 0 |
Exercise of stock options | 48 | $ 82 | (34) | 0 | 0 |
Exercise of stock options (in shares) | 47 | ||||
Exercise of warrants | 449 | $ 663 | (214) | 0 | 0 |
Exercise of warrants (in shares) | 300 | ||||
Net loss | (659) | $ 0 | 0 | 0 | (659) |
Balance at Dec. 31, 2015 | 548 | $ 69,401 | 41,437 | 1,243 | (111,533) |
Balance (in shares) at Dec. 31, 2015 | 10,940 | ||||
Stock options issued | Consultants [Member] | 16 | $ 0 | 16 | 0 | 0 |
Stock options issued | Employees [Member] | 615 | 0 | 615 | 0 | 0 |
Warrants issued to consultants | 72 | 0 | 72 | 0 | 0 |
Exercise of stock options | 6 | $ 6 | 0 | 0 | 0 |
Exercise of stock options (in shares) | 4 | ||||
Exercise of warrants | 102 | $ 108 | (6) | 0 | 0 |
Exercise of warrants (in shares) | 67 | ||||
Rights offering | 5,000 | $ 5,000 | 0 | 0 | 0 |
Rights offering (in shares) | 2,632 | ||||
Net loss | (2,789) | $ 0 | 0 | 0 | (2,789) |
Balance at Dec. 31, 2016 | $ 3,570 | $ 74,515 | $ 42,134 | $ 1,243 | $ (114,322) |
Balance (in shares) at Dec. 31, 2016 | 13,643 |
Nature of Business and Going Co
Nature of Business and Going Concern | 12 Months Ended |
Dec. 31, 2016 | |
Going Concern [Abstract] | |
Nature of Business and Going Concern | . Nature of Business and Going Concern Fennec Pharmaceuticals Inc. (“Fennec”) was originally formed as a British Columbia corporation under the name Adherex Technologies Inc. and subsequently changed its name on September 3, 2014. Fennec, together with its wholly owned subsidiaries Oxiquant, Inc. (“Oxiquant”) and Fennec Pharmaceuticals, Inc., both Delaware corporations, and Cadherin Biomedical Inc. (“CBI”), a Canadian corporation, collectively referred to herein as the “Company,” is a biopharmaceutical company with a product candidate under development for use in the treatment of cancer. With the exception of Fennec Pharmaceuticals, Inc., all subsidiaries are inactive. These consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) that are applicable to a going concern which contemplates that the Company will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of business. During the year ended December 31, 2016 the Company incurred a net loss from operations of $ 2,871 114,322 2,124 These circumstances raise substantial doubt about the Company’s ability to continue as a going concern within one year after the issue date of these consolidated financial statements, and substantial doubt as to the ability of the Company to meet its obligations as they come due and, accordingly, the use of accounting principles applicable to a going concern may not be appropriate. The Company is actively seeking to obtain additional funding in the future in order to finance the Company’s business strategy, operations and growth through the issuance of equity, debt or collaboration. If we fail to arrange for sufficient capital on a timely basis, we may be required to curtail our business activities until we can obtain adequate financing. These financial statements do not reflect the potentially material adjustments in the carrying values of assets and liabilities, the reported expenses, and the balance sheet classifications used, that would be necessary if the going concern assumption were not appropriate. Prior-period adjustment Common Stock at December 31, 2015 has been increased by $248 and Additional Paid-in Capital has been decreased by the same amount, to retrospectively correct balance sheet amounts with respect to an immaterial noncash error related to the exercise of warrants and stock options. This error was the result of not moving the value in Additional Paid-in Capital to Common Stock when the warrants and stock options were exercised. This adjustment does not impact anything other than the allocation between Common Stock and Additional Paid-in Capital and has no effect on our loss per share disclosures. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Significant Accounting Policies [Abstract] | |
Significant Accounting Policies | 2. Significant Accounting Policies The consolidated financial statements include the accounts of Fennec and of all its wholly-owned subsidiaries. All inter-company transactions and balances have been eliminated upon consolidation. The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that impact the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenue and expense during the reporting period. Significant estimates include the valuation of derivative warrant liability and the valuation of stock based compensation. Actual results could differ from those estimates. Cash equivalents consist of highly liquid investments with original maturities at the date of purchase of three months or less. The Company places its cash and cash equivalents in investments held by highly rated financial institutions in accordance with its investment policy designed to protect the principal investment. At December 31, 2016, the Company had $ 3,926 942 Financial instruments recognized on the balance sheets at December 31, 2016 and December 31, 2015 consist of cash and cash equivalents, accounts payable, accrued liabilities and derivative instruments, the carrying values of which, with the exception of the derivative instruments, approximate fair value due to their relatively short time to maturity. The Company does not hold or issue financial instruments for trading. The derivative liabilities are carried at fair value. The Company’s investment policy is to manage investments to achieve, in the order of importance, the financial objectives of preservation of principal, liquidity and return on investment. Investments, when made, are made in U.S. or Canadian bank securities, commercial paper of U.S. or Canadian industrial companies, utilities, financial institutions and consumer loan companies, and securities of foreign banks provided the obligations are guaranteed or carry ratings appropriate to the policy. Securities must have a minimum Dun & Bradstreet rating of A for bonds or R1 low for commercial paper. The policy risks are primarily the opportunity cost of the conservative nature of the allowable investments. As the main purpose of the Company is research and development, the Company has chosen to avoid investments of a trading or speculative nature. The Company has warrants outstanding to purchase common stock that were denominated in both United States dollars (“USD”) and Canadian dollars (“CAD”), which resulted in the Company having warrants outstanding that were denominated outside of the Company’s U.S. dollar functional currency. The Company’s outstanding warrants denominated in Canadian dollars were not considered to be indexed to the Company’s own stock and should therefore be treated as derivative financial instruments and recorded at their fair value as a liability. At December 31, 2016, the derivative liabilities were valued at $ 33 82 48 1,237 At this time, the Company does not have any revenue. Research costs, including employee compensation, laboratory fees, lab supplies, and research and testing performed under contract by third parties, are expensed as incurred. Development costs, including drug substance costs, clinical study expenses and regulatory expenses are expensed as incurred. Investment tax credits, which are earned as a result of qualifying research and development expenditures, are recognized when the expenditures are made and their realization is reasonably assured. They are applied to reduce related capital costs and research and development expenses in the year recognized. The Company accounts for income taxes using the asset and liability method to compute the differences between the tax basis of assets and liabilities and the related financial amounts, using currently enacted tax rates. The Company has deferred tax assets, which are subject to periodic recoverability assessments. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount that more likely than not will be realized. As of December 31, 2016, we maintained a full valuation allowance against our deferred tax assets. The provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740-10, Uncertainty in Income Taxes, address the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740-10, we may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The U.S. dollar is the functional currency for the Company’s consolidated operations. All gains and losses from currency translations are included in results of operations. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the year. Diluted net earnings per share is computed using the same method, except the weighted average number of shares of common stock outstanding includes convertible debentures, stock options and warrants, if dilutive, as determined using the if-converted method and treasury methods. Accordingly, options to purchase 2,427 1,383 2,417 2,595 In August 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-15 requiring an entity’s management to evaluate whether there are conditions or events, considered in aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). The amendments in this update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The adoption of this standard did not have a material impact on our financial statements. In June 2014, the FASB issued ASU 2014-12, “Compensation Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period”. The amended guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period should be treated as a performance condition. The amendments are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. The adoption of this standard did not have a material impact on our financial statements. In May 2014, the FASB issued ASU 2014-9, Revenue from Contracts with Customers (Topic 606), to clarify the principles for recognizing revenue. This update provides a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which delayed the effective date of the new standard from January 1, 2017 to January 1, 2018. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations, which clarifies the implementation guidance on principal versus agent considerations. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing, which clarifies certain aspects of identifying performance obligations and licensing implementation guidance. In May 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients related to disclosures of remaining performance obligations, as well as other amendments to guidance on collectability, non-cash consideration and the presentation of sales and other similar taxes collected from customers. These standards have the same effective date and transition date of January 1, 2018. The new revenue standard allows for either full retrospective or modified retrospective application. In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes In February 2016, the FASB issued ASU 2016-02, Leases In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting |
Loss per Share
Loss per Share | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Loss per Share Loss per common share is presented under two formats: basic loss per common share and diluted loss per common share. Basic loss per common share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the period, plus the potentially dilutive impact of common stock equivalents (e.g. stock options and warrants). Dilutive common share equivalents consist of the incremental common shares issuable upon exercise of stock options and warrants. Twelve Months Ended December 31, 2016 December 31, 2015 Numerator: Net loss $ (2,789) $ (659) Denominator: Weighted-average common shares, basic 12,765 10,827 Dilutive effect of stock options - - Dilutive effect of warrants - - Incremental dilutive shares - - Weighted-average common shares, dilutive 12,765 10,827 Net loss per share, basic and diluted $ (0.22) $ (0.06) The following outstanding options and warrants were excluded from the computation of basic and diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect: Twelve Months Ended December 31, 2016 December 31, 2015 Options to purchase common stock 2,427 2,417 Warrants to purchase common stock 1,383 2,595 |
Stock options
Stock options | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock options | 4. Stock options The Compensation Committee of the Board of Directors administers the Company’s stock option plan. The Compensation Committee designates eligible participants to be included under the plan and approves the number of options to be granted from time to time under the plan. On June 24, 2010, at the Company’s annual meeting, shareholders approved an amendment to the Company’s Stock Option Plan (the “Plan Maximum Amendment”). The Plan Maximum Amendment relates to changing the maximum number of shares of common stock issuable under the stock option plan from a fixed number of 6,666 25 3,410 (1) (1) On April 25, 2014 Fennec granted 133 66 67 Number of Weighted Share Prices Reported in $CAD Options Range Average Outstanding and exercisable at December 31, 2014 1,338 $ 1.62 2.43 $ 2.38 Exercised (14) 1.62 2.43 1.94 Forfeited or expired (1) 1.62 2.43 1.82 Outstanding and exercisable at December 31, 2015 1,323 $ 1.62 2.43 $ 2.39 Exercised (-) - - Forfeited or expired (324) 2.43 2.43 Outstanding and exercisable at December 31, 2016 999 $ 1.62 2.43 $ 2.38 Price $CAD Outstanding and Exercisable Weighted Average Remaining Life $ 1.62 17 1.26 $ 1.89 76 1.39 $ 2.43 906 1.35 Total 999 1.35 Number of Weighted Options Range Average Outstanding and exercisable at December 31, 2014 1,072 $ 0.45 15.66 $ 1.77 Granted 71 1.13 2.51 1.36 Exercised (33) 0.60 1.05 0.83 Forfeited or expired (16) 0.54 15.66 2.24 Outstanding and exercisable at December 31, 2015 1,094 $ 0.45 3.60 $ 1.77 Granted 370 2.11 2.45 2.42 Exercised (4) 1.50 1.50 Forfeited or expired (32) 1.89 - 2.69 2.65 Outstanding and exercisable at December 31, 2016 1,428 $ 0.45 3.60 $ 1.93 Number Outstanding Price in and Exercisable at Remaining Life US Dollars December 31, 2016 (years) $ 0.45 11 2.63 $ 0.54 19 3.38 $ 0.60 58 2.54 $ 0.72 83 3.40 $ 0.96 11 3.03 $ 1.05 113 2.97 $ 1.13 50 5.95 $ 1.23 8 4.15 $ 1.50 16 2.31 $ 1.59 176 4.04 $ 1.68 33 2.97 $ 1.89 8 1.63 $ 2.11 36 7.00 $ 2.30 4 3.90 $ 2.31 275 4.29 $ 2.35 4 4.01 $ 2.40 8 2.85 $ 2.44 49 6.11 $ 2.45 285 6.51 $ 2.51 4 3.82 $ 2.55 4 3.65 $ 2.69 118 4.78 $ 2.79 49 4.59 $ 2.94 3 2.91 $ 3.60 3 3.40 Total 1,428 4.59 Stock compensation expense for the fiscal years ended December 31, 2016 and 2015 was $ 615 97 2.42 1.37 575 3 280 Year Ended Year Ended December 31, December 31, 2016 2015 Expected dividend 0 % 0 % Risk-free interest rate 1.27 2.25 % 1.89 2.02 % Expected volatility 134 137 % 127 153 % Expected life 7 years 7 years The Company uses the historical volatility and adjusts for available relevant market information pertaining to the Company’s share price. Modification of Existing US Dollar Denominated Options In 2016, the Company modified the terms of certain options granted to executives and directors by extending the expiration date by 1 year. 4 Expense Number of Expiration Risk Free Exercise Share Price Expected Recognized Options Date Rate Price $USD $USD Life (Years) Volatility $USD 6 11/18/2018 0.93 % 1.50 2.43 3.44 152 % 1 17 04/04/2020 1.08 % 0.60 2.43 3.82 155 % 1 19 05/17/2020 1.08 % 0.54 2.43 3.94 154 % 1 9 11/20/2020 1.08 % 1.05 2.43 4.45 147 % 1 51 4 Modification of Existing Canadian Dollar Denominated Options In 2016, the Company modified the terms of certain options granted to executives and directors by extending the expiration date by a weighted average amount of 1.45 years. 347 exchange rate of $CAD/$USD 0.7881 Expense Number of Expiration Risk Free Exercise Share Price Expected Recognized Options Date Rate Price $CAD $CAD Life (Years) Volatility $USD 17 08/18/2018 0.52 % 1.89 3.10 2.19 94 % 9 648 08/18/2018 0.52 % 2.43 3.10 2.19 94 % 338 665 347 |
Derivative Liabilities
Derivative Liabilities | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments [Abstract] | |
Derivative Liabilities | 5. Derivative Liabilities The Company's derivative instruments include options to purchase 40 ⋅ Contractor options to purchase 21 1.89 ⋅ Contractor options to purchase 17 1.62 ⋅ Contractor options to purchase 2 2.43 These options have been recorded at their fair value as a liability at issuance and will continue to be re-measured at fair value as a liability at each subsequent balance sheet date. Any change in value between reporting periods will be recorded as unrealized gain/(loss). These options will continue to be reported as a liability until such time as they are exercised, forfeited or expire. The fair value of these options is estimated using the Black-Scholes option-pricing model. Options issued to contractors in a foreign currency During the fiscal years ended December 31, 2011 and 2010, the Company issued 36 29 33 41 7 78 Share Prices Reported in $CAD Number of Options Outstanding and Weighted Average Exercisable Exercise Price Outstanding and exercisable at December 31, 2014 55 $ 1.84 Exercised (14) 1.94 Forfeited or expired (1) 1.82 Outstanding and exercisable at December 31, 2015 40 $ 1.81 Exercised - - Forfeited or expired - - Outstanding and exercisable at December 31, 2016 40 $ 1.81 Derivative Value at Gain/(Loss) on Derivative Derivative Warrants/Options December 31, Instrument December 31, 2016 2015 2016 2015 Warrants expired April 30, 2015 - - - 411 Warrants expiring March 29, 2016 - 41 41 748 Options (various expiration dates) 33 41 7 78 Total 33 82 48 1,237 |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 6. Fair Value Measurements The Company has adopted ASC 820 Fair Value Measurements and Disclosure Topic of the FASB. This Topic applies to certain assets and liabilities that are being measured and reported on a fair value basis. The Fair Value Measurements Topic defines fair value, establishes a framework for measuring fair value in accordance with US GAAP, and expands disclosure about fair value measurements. This Topic enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The Topic requires that financial assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. Fair Value Measurement at December 31, 2016 Quoted Price in Active Market for Identical Significant Other Significant Instruments Observable Inputs Unobservable Inputs Level 1 Level 2 Level 3 Total Assets Cash and cash equivalents $ 68 (1) $ 3,858 $ - $ 3,926 Liabilities Derivative liabilities - 33 33 The Company's financial instruments include cash and cash equivalents and derivative liabilities. Only cash and cash equivalents and derivative liabilities are carried at their fair value. The derivative liabilities are options issued to contractors in a currency other than the functional currency of the Company. The options use the Black Scholes model with the following assumptions: expected dividend 0 0.33 0.74 57 85 0.9 1.4 (1) The Company held $ 68 51 |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2016 | |
Stockholders' Equity [Abstract] | |
Stockholders' Equity | 7. Stockholders’ Equity Authorized capital stock The Company’s authorized capital stock consists of an unlimited number of shares of no par common stock. Equity financings On May 16, 2016, the Company completed the closing of a non-brokered private placement (the “Offering”) of 2,631,579 5,000 1.90 1 Warrants to Purchase Common Stock 1.55 1.9 Common Shares Issuable Upon Warrant Exercise of Outstanding Exercise Price Description Warrants at December 31, 2016 CAD/USD Expiration Date Investor warrants (1) 1,333 $ 1.50 USD November 22, 2018 Investor warrants (2) 50 $ 3.00 USD February 2, 2019 1,383 (1) On November 22, 2013, the Company announced it had completed the closing of a non-brokered private placement of 4,000 0.40 1,600 0.50 (3) 1.50 (2) On February 2, 2016 the company issued 50 3.00 |
Sale of Asset
Sale of Asset | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract] | |
Sale of Asset | 8. Sale of Asset On August 29, 2016, Fennec completed the sale of certain intellectual property, data and other assets related to Eniluracil and Adh-1 technologies and development programs to Elion Oncology, LLC for gross proceeds of $ 40 5 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and contingencies | 9. Commitments and Contingencies Oregon Health & Science University Agreement On February 20, 2013, Fennec entered into a new exclusive license agreement with Oregon Health & Science University (“OHSU”) for exclusive worldwide license rights to intellectual property directed to thiol-based compounds, including STS and their use in oncology (the "New OHSU Agreement"). OHSU will receive certain milestone payments, royalty on net sales for licensed products and a royalty on any consideration received from sublicensing of the licensed technology. The term of the New OHSU Agreement expires on the date of the last to expire claim(s) covered in the patents licensed to Fennec, unless earlier terminated as provided in the agreement. STS is currently protected by methods of use patents that the Company exclusively licensed from OHSU that expire in Europe in 2021 and are currently pending in the United States. The New OHSU Agreement is terminable by either Fennec or OHSU in the event of a material breach of the agreement by either party after 45 days prior written notice. Fennec also has the right to terminate the New OHSU Agreement at any time upon 60 days prior written notice and payment of all fees due to OHSU under the New OHSU Agreement. On May 18, 2015, Fennec negotiated an amendment ("Amendment 1") to the exclusive license agreement with OHSU. Amendment 1 expands the exclusive license agreement signed with OHSU on February 20, 2013 ("OHSU Agreement") to include the use of N-acetylcysteine as a standalone therapy and/or in combination with STS for the prevention of ototoxicity induced by chemotherapeutic agents to treat cancers. Further, Amendment 1 adjusts select milestone payments entered in the OHSU Agreement including but not limited to the royalty rate on net sales for licensed products, royalty rate from sublicensing of the licensed technology and the fee payable upon the regulatory approval of a licensed product. The term of Amendment 1 under the OHSU Agreement expires on the date of the last to expire claim(s) covered in the patents licensed to Fennec or 8 years, whichever is later. In the event a licensed product obtains regulatory approval and is covered by the Orphan Drug Designation, the parties will in good faith amend the term of the agreement. STS is currently protected by methods of use patents that the Company exclusively licensed from OHSU that expire in Europe in 2021 and are currently pending in the United States. The New OHSU Agreement is terminable by either Fennec or OHSU in the event of a material breach of the agreement by either party after 45 days prior written notice. Fennec also has the right to terminate the New OHSU Agreement at any time upon 60 days prior written notice and payment of all fees due to OHSU under the New OHSU Agreement. Executive Severance In the event of his termination with us other than for cause, the Company will pay its Chief Executive Officer, Rostislav Raykov, a one-time severance compensation payment equal to 12 months of salary (currently $ 250 95 |
De-recognition of Statute Barre
De-recognition of Statute Barred Payables | 12 Months Ended |
Dec. 31, 2016 | |
De-recognition of Statute Barred Payables [Abstract] | |
De-recognition of Statute Barred Payables | 10. De-recognition of Statute Barred Payables The Company had various payables from obligations which existed before current management took over the Company in 2009. These payables, although previously recorded, could not be substantiated as legitimate payables by management. Approximately $ 79 23 56 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 11. Income Taxes The Company operates in both U.S. and Canadian tax jurisdictions. Its income is subject to varying rates of tax and losses incurred in one jurisdiction cannot be used to offset income taxes payable in another. Year Ended Year Ended December 31, December 31, 2016 2015 Domestic (loss)/gain (1,771) 294 Foreign loss (1,018) (952) Loss before income taxes (2,789) (658) Expected statutory rate (recovery) 26.50 % 26.50 % Expected provision for (recovery of) income tax (739) (174) Permanent differences 156 (301) Change in valuation allowance 583 (1,297) Effect of foreign exchange rate differences - - Effect of non-capital losses expired - 1,318 Tax credits and other adjustments 1 450 Effect of tax rate changes and other -1 4 Provision for income taxes $ - $ - The Canadian statutory come tax rate of 26.0 15.0 11.0 December 31, December 31, 2016 2015 Future tax assets: SR&ED expenditures 2,195 2,195 Income tax loss carryforwards 19,098 18,509 Non-refundable investment tax credits 1,263 1,263 Share issue costs 4 10 Accrued expenses - - Fixed and intangible assets 1,032 1,032 Harmonization credit - - 23,592 23,010 Less: valuation allowance (23,592) (23,010) Net future tax assets $ - $ - There are no current income taxes owed, nor are any income taxes expected to be owed in the near term. At December 31, 2016 the Company has unclaimed Scientific Research and Experimental Development ("SR&ED") expenditures, income tax loss carry-forwards and non-refundable investment tax credits. The unclaimed amounts and their expiry dates are as listed below: Province/ Federal State SR&ED expenditures (no expiry) $ 8,283 $ - Income tax loss carryforwards (expiry date): 2021 26 - 2022 233 - 2023 133 - 2024 1,536 1,455 2025 4,795 4,768 2026 20,562 12,945 2027 8,340 10,866 2028 10,840 10,550 2029 8,502 3,915 2030 2,608 3,243 2031 3,378 3,675 2032 3,491 1,754 2033 1,788 1,781 2034 1,812 1,684 2035 1,803 2,150 2036 2,222 1,013 Investment tax credits (expiry date): 2018 10 2019 8 2020 96 2021 55 2022 548 2023 399 2024 178 2025 199 2026 86 2027 90 2028 50 2029 - 2030 - |
Significant Accounting Polici18
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Significant Accounting Policies [Abstract] | |
Basis of presentation | The consolidated financial statements include the accounts of Fennec and of all its wholly-owned subsidiaries. All inter-company transactions and balances have been eliminated upon consolidation. |
Use of estimates | The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that impact the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenue and expense during the reporting period. Significant estimates include the valuation of derivative warrant liability and the valuation of stock based compensation. Actual results could differ from those estimates. |
Cash and cash equivalents | Cash equivalents consist of highly liquid investments with original maturities at the date of purchase of three months or less. The Company places its cash and cash equivalents in investments held by highly rated financial institutions in accordance with its investment policy designed to protect the principal investment. At December 31, 2016, the Company had $ 3,926 942 |
Financial instruments | Financial instruments recognized on the balance sheets at December 31, 2016 and December 31, 2015 consist of cash and cash equivalents, accounts payable, accrued liabilities and derivative instruments, the carrying values of which, with the exception of the derivative instruments, approximate fair value due to their relatively short time to maturity. The Company does not hold or issue financial instruments for trading. The derivative liabilities are carried at fair value. The Company’s investment policy is to manage investments to achieve, in the order of importance, the financial objectives of preservation of principal, liquidity and return on investment. Investments, when made, are made in U.S. or Canadian bank securities, commercial paper of U.S. or Canadian industrial companies, utilities, financial institutions and consumer loan companies, and securities of foreign banks provided the obligations are guaranteed or carry ratings appropriate to the policy. Securities must have a minimum Dun & Bradstreet rating of A for bonds or R1 low for commercial paper. The policy risks are primarily the opportunity cost of the conservative nature of the allowable investments. As the main purpose of the Company is research and development, the Company has chosen to avoid investments of a trading or speculative nature. |
Common stock and warrants | The Company has warrants outstanding to purchase common stock that were denominated in both United States dollars (“USD”) and Canadian dollars (“CAD”), which resulted in the Company having warrants outstanding that were denominated outside of the Company’s U.S. dollar functional currency. The Company’s outstanding warrants denominated in Canadian dollars were not considered to be indexed to the Company’s own stock and should therefore be treated as derivative financial instruments and recorded at their fair value as a liability. At December 31, 2016, the derivative liabilities were valued at $ 33 82 48 1,237 |
Revenue recognition | At this time, the Company does not have any revenue. |
Research and development costs and investment tax credits | Research costs, including employee compensation, laboratory fees, lab supplies, and research and testing performed under contract by third parties, are expensed as incurred. Development costs, including drug substance costs, clinical study expenses and regulatory expenses are expensed as incurred. Investment tax credits, which are earned as a result of qualifying research and development expenditures, are recognized when the expenditures are made and their realization is reasonably assured. They are applied to reduce related capital costs and research and development expenses in the year recognized. |
Income taxes | The Company accounts for income taxes using the asset and liability method to compute the differences between the tax basis of assets and liabilities and the related financial amounts, using currently enacted tax rates. The Company has deferred tax assets, which are subject to periodic recoverability assessments. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount that more likely than not will be realized. As of December 31, 2016, we maintained a full valuation allowance against our deferred tax assets. The provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740-10, Uncertainty in Income Taxes, address the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740-10, we may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. |
Foreign currency translation | The U.S. dollar is the functional currency for the Company’s consolidated operations. All gains and losses from currency translations are included in results of operations. |
Earnings/(Loss) per share | Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the year. Diluted net earnings per share is computed using the same method, except the weighted average number of shares of common stock outstanding includes convertible debentures, stock options and warrants, if dilutive, as determined using the if-converted method and treasury methods. Accordingly, options to purchase 2,427 1,383 2,417 2,595 |
New Accounting Pronouncements Adopted | Recent accounting pronouncements In August 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-15 requiring an entity’s management to evaluate whether there are conditions or events, considered in aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). The amendments in this update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The adoption of this standard did not have a material impact on our financial statements. In June 2014, the FASB issued ASU 2014-12, “Compensation Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period”. The amended guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period should be treated as a performance condition. The amendments are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. The adoption of this standard did not have a material impact on our financial statements. In May 2014, the FASB issued ASU 2014-9, Revenue from Contracts with Customers (Topic 606), to clarify the principles for recognizing revenue. This update provides a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which delayed the effective date of the new standard from January 1, 2017 to January 1, 2018. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations, which clarifies the implementation guidance on principal versus agent considerations. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing, which clarifies certain aspects of identifying performance obligations and licensing implementation guidance. In May 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients related to disclosures of remaining performance obligations, as well as other amendments to guidance on collectability, non-cash consideration and the presentation of sales and other similar taxes collected from customers. These standards have the same effective date and transition date of January 1, 2018. The new revenue standard allows for either full retrospective or modified retrospective application. In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes In February 2016, the FASB issued ASU 2016-02, Leases In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting |
Loss per Share (Tables)
Loss per Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table sets forth the computation of basic and diluted net loss per share (in thousands except per share data): Twelve Months Ended December 31, 2016 December 31, 2015 Numerator: Net loss $ (2,789) $ (659) Denominator: Weighted-average common shares, basic 12,765 10,827 Dilutive effect of stock options - - Dilutive effect of warrants - - Incremental dilutive shares - - Weighted-average common shares, dilutive 12,765 10,827 Net loss per share, basic and diluted $ (0.22) $ (0.06) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following outstanding options and warrants were excluded from the computation of basic and diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect: Twelve Months Ended December 31, 2016 December 31, 2015 Options to purchase common stock 2,427 2,417 Warrants to purchase common stock 1,383 2,595 |
Stock options (Tables)
Stock options (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair values of options granted using weighted average assumptions | Year Ended Year Ended December 31, December 31, 2016 2015 Expected dividend 0 % 0 % Risk-free interest rate 1.27 2.25 % 1.89 2.02 % Expected volatility 134 137 % 127 153 % Expected life 7 years 7 years |
Currency, Canadian Dollar [Member] | |
Options granted under the stock option plan are exercisable | Summary of $CAD Option Activity Number of Weighted Share Prices Reported in $CAD Options Range Average Outstanding and exercisable at December 31, 2014 1,338 $ 1.62 2.43 $ 2.38 Exercised (14) 1.62 2.43 1.94 Forfeited or expired (1) 1.62 2.43 1.82 Outstanding and exercisable at December 31, 2015 1,323 $ 1.62 2.43 $ 2.39 Exercised (-) - - Forfeited or expired (324) 2.43 2.43 Outstanding and exercisable at December 31, 2016 999 $ 1.62 2.43 $ 2.38 |
Options reinstated agreement either expired and cancelled prior to the agreed severance | Summary of $CAD Option Remaining Life Price $CAD Outstanding and Exercisable Weighted Average Remaining Life $ 1.62 17 1.26 $ 1.89 76 1.39 $ 2.43 906 1.35 Total 999 1.35 |
Schedule of Share-based Compensation, Stock Options, Activity | The following table summarizes the effect of the June 8, 2016 transaction: Expense Number of Expiration Risk Free Exercise Share Price Expected Recognized Options Date Rate Price $CAD $CAD Life (Years) Volatility $USD 17 08/18/2018 0.52 % 1.89 3.10 2.19 94 % 9 648 08/18/2018 0.52 % 2.43 3.10 2.19 94 % 338 665 347 |
Currency, U.S. Dollar [Member] | |
Options granted under the stock option plan are exercisable | Summary of $USD Option Activity Number of Weighted Options Range Average Outstanding and exercisable at December 31, 2014 1,072 $ 0.45 15.66 $ 1.77 Granted 71 1.13 2.51 1.36 Exercised (33) 0.60 1.05 0.83 Forfeited or expired (16) 0.54 15.66 2.24 Outstanding and exercisable at December 31, 2015 1,094 $ 0.45 3.60 $ 1.77 Granted 370 2.11 2.45 2.42 Exercised (4) 1.50 1.50 Forfeited or expired (32) 1.89 - 2.69 2.65 Outstanding and exercisable at December 31, 2016 1,428 $ 0.45 3.60 $ 1.93 |
Options reinstated agreement either expired and cancelled prior to the agreed severance | Summary of $USD Option Remaining Life Number Outstanding Price in and Exercisable at Remaining Life US Dollars December 31, 2016 (years) $ 0.45 11 2.63 $ 0.54 19 3.38 $ 0.60 58 2.54 $ 0.72 83 3.40 $ 0.96 11 3.03 $ 1.05 113 2.97 $ 1.13 50 5.95 $ 1.23 8 4.15 $ 1.50 16 2.31 $ 1.59 176 4.04 $ 1.68 33 2.97 $ 1.89 8 1.63 $ 2.11 36 7.00 $ 2.30 4 3.90 $ 2.31 275 4.29 $ 2.35 4 4.01 $ 2.40 8 2.85 $ 2.44 49 6.11 $ 2.45 285 6.51 $ 2.51 4 3.82 $ 2.55 4 3.65 $ 2.69 118 4.78 $ 2.79 49 4.59 $ 2.94 3 2.91 $ 3.60 3 3.40 Total 1,428 4.59 |
Schedule of Share-based Compensation, Stock Options, Activity | The following table summarizes the effect of the June 8, 2016 transaction: Expense Number of Expiration Risk Free Exercise Share Price Expected Recognized Options Date Rate Price $USD $USD Life (Years) Volatility $USD 6 11/18/2018 0.93 % 1.50 2.43 3.44 152 % 1 17 04/04/2020 1.08 % 0.60 2.43 3.82 155 % 1 19 05/17/2020 1.08 % 0.54 2.43 3.94 154 % 1 9 11/20/2020 1.08 % 1.05 2.43 4.45 147 % 1 51 4 |
Derivative Liabilities (Tables)
Derivative Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments [Abstract] | |
Schedule of Other Share-based Compensation, Activity | The following is a summary of Canadian denominated contractor option activity for the twelve months ended December 31, 2016 and 2015. Share Prices Reported in $CAD Number of Options Outstanding and Weighted Average Exercisable Exercise Price Outstanding and exercisable at December 31, 2014 55 $ 1.84 Exercised (14) 1.94 Forfeited or expired (1) 1.82 Outstanding and exercisable at December 31, 2015 40 $ 1.81 Exercised - - Forfeited or expired - - Outstanding and exercisable at December 31, 2016 40 $ 1.81 |
Derivative Liabilities Fair Value | The following table presents the overall change in derivative liability for the twelve months ended December 31, 2016 and December 31, 2015: Derivative Value at Gain/(Loss) on Derivative Derivative Warrants/Options December 31, Instrument December 31, 2016 2015 2016 2015 Warrants expired April 30, 2015 - - - 411 Warrants expiring March 29, 2016 - 41 41 748 Options (various expiration dates) 33 41 7 78 Total 33 82 48 1,237 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Assets/Liabilities Measured at Fair Value on Recurring Basis | Fair Value Measurement at December 31, 2016 Quoted Price in Active Significant Other Significant Level 1 Level 2 Level 3 Total Assets Cash and cash equivalents $ 68 (1) $ 3,858 $ - $ 3,926 Liabilities Derivative liabilities - 33 33 (1) The Company held $68 in cash, of which $51 was in Canadian funds (translated into U.S. dollars). |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Stockholders' Equity [Abstract] | |
Warrants Outstanding to Purchase Common Stock | At December 31, 2016, the Company had the following warrants outstanding to purchase common stock priced in U.S. dollars with a weighted average price of $ 1.55 1.9 Common Shares Issuable Upon Warrant Exercise of Outstanding Exercise Price Description Warrants at December 31, 2016 CAD/USD Expiration Date Investor warrants (1) 1,333 $ 1.50 USD November 22, 2018 Investor warrants (2) 50 $ 3.00 USD February 2, 2019 1,383 (1) On November 22, 2013, the Company announced it had completed the closing of a non-brokered private placement of 4,000 0.40 1,600 0.50 (3) 1.50 (2) On February 2, 2016 the company issued 50 3.00 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the combined Canadian federal and provincial income tax rate with the Company’s effective tax rate is as follows: Year Ended Year Ended December 31, December 31, 2016 2015 Domestic (loss)/gain (1,771) 294 Foreign loss (1,018) (952) Loss before income taxes (2,789) (658) Expected statutory rate (recovery) 26.50 % 26.50 % Expected provision for (recovery of) income tax (739) (174) Permanent differences 156 (301) Change in valuation allowance 583 (1,297) Effect of foreign exchange rate differences - - Effect of non-capital losses expired - 1,318 Tax credits and other adjustments 1 450 Effect of tax rate changes and other -1 4 Provision for income taxes $ - $ - |
Summary of Tax Credit Carryforwards | December 31, December 31, 2016 2015 Future tax assets: SR&ED expenditures 2,195 2,195 Income tax loss carryforwards 19,098 18,509 Non-refundable investment tax credits 1,263 1,263 Share issue costs 4 10 Accrued expenses - - Fixed and intangible assets 1,032 1,032 Harmonization credit - - 23,592 23,010 Less: valuation allowance (23,592) (23,010) Net future tax assets $ - $ - There are no current income taxes owed, nor are any income taxes expected to be owed in the near term. At December 31, 2016 the Company has unclaimed Scientific Research and Experimental Development ("SR&ED") expenditures, income tax loss carry-forwards and non-refundable investment tax credits. The unclaimed amounts and their expiry dates are as listed below: Province/ Federal State SR&ED expenditures (no expiry) $ 8,283 $ - Income tax loss carryforwards (expiry date): 2021 26 - 2022 233 - 2023 133 - 2024 1,536 1,455 2025 4,795 4,768 2026 20,562 12,945 2027 8,340 10,866 2028 10,840 10,550 2029 8,502 3,915 2030 2,608 3,243 2031 3,378 3,675 2032 3,491 1,754 2033 1,788 1,781 2034 1,812 1,684 2035 1,803 2,150 2036 2,222 1,013 Investment tax credits (expiry date): 2018 10 2019 8 2020 96 2021 55 2022 548 2023 399 2024 178 2025 199 2026 86 2027 90 2028 50 2029 - 2030 - |
Nature of Business and Going 25
Nature of Business and Going Concern - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Going Concern [Line Items] | ||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations, Total | $ (2,124) | $ (1,862) |
Retained Earnings (Accumulated Deficit) | (114,322) | (111,533) |
Operating Income (Loss) | $ (2,871) | (1,890) |
Increase In Common Stock Value | $ 248 |
Significant Accounting Polici26
Significant Accounting Policies - Additional Information (Details) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Summary Of Significant Accounting Policies [Line Items] | ||
Money market investments | $ 3,926 | $ 942 |
Derivative Liability (Note 3) | 33 | 82 |
Unrealized (loss)/gain on derivatives | $ 48 | $ 1,237 |
Warrant [Member] | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,383 | 2,595 |
Stock Option [Member] | ||
Summary Of Significant Accounting Policies [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2,427 | 2,417 |
Loss per Share (Schedule of Ear
Loss per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Numerator: | ||
Net loss | $ (2,789) | $ (659) |
Denominator: | ||
Weighted-average common shares, basic | 12,765 | 10,827 |
Incremental dilutive shares | 0 | 0 |
Weighted-average common shares, dilutive | 12,765 | 10,827 |
Net loss per share, basic and diluted | $ (0.22) | $ (0.06) |
Warrant [Member] | ||
Denominator: | ||
Incremental dilutive shares | 0 | 0 |
Employee Stock Option [Member] | ||
Denominator: | ||
Incremental dilutive shares | 0 | 0 |
Loss per Share (warrants were e
Loss per Share (warrants were excluded from the computation of basic and diluted net loss per share) (Details) - shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Employee Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2,427 | 2,417 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,383 | 2,595 |
Stock Options (Options Granted
Stock Options (Options Granted Under The Stock Option Plan Exercisable In Canadian Dollars And U.S Dollars) (Details) | 12 Months Ended | |||
Dec. 31, 2016$ / sharesshares | Dec. 31, 2016CAD / sharesshares | Dec. 31, 2015$ / sharesshares | Dec. 31, 2015CAD / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of Options Outstanding and Exercisable at Ending | shares | 1,428,000 | 1,428,000 | ||
Stock Option In Canadian Dollars [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of Options Outstanding and Exercisable at Beginning | shares | 1,323,000 | 1,323,000 | 1,338,000 | 1,338,000 |
Number of Options Exercised | shares | 0 | 0 | (14,000) | (14,000) |
Number of Options Forfeited or expired | shares | (324,000) | (324,000) | (1,000) | (1,000) |
Number of Options Outstanding and Exercisable at Ending | shares | 999,000 | 999,000 | 1,323,000 | 1,323,000 |
Exercised Range | CAD / shares | CAD 0 | |||
Forfeited or expired Range | CAD / shares | 2.43 | |||
Weighted-average Exercise Price Outstanding and Exercisable at Beginning | CAD / shares | 2.39 | CAD 2.38 | ||
Weighted- average Exercised | CAD / shares | 0 | 1.94 | ||
Weighted- average Forfeited or expired | CAD / shares | 2.43 | 1.82 | ||
Weighted-average Exercise Price Outstanding and Exercisable at Ending | CAD / shares | 2.38 | 2.39 | ||
Stock Option In Canadian Dollars [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Outstanding and Exercisable Range | CAD / shares | 1.62 | 2.43 | ||
Exercised Range | CAD / shares | 2.43 | |||
Forfeited or expired Range | CAD / shares | 2.43 | |||
Outstanding and Exercisable Range | CAD / shares | 2.43 | 1.62 | ||
Stock Option In Canadian Dollars [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Outstanding and Exercisable Range | CAD / shares | 1.62 | |||
Exercised Range | CAD / shares | 1.62 | |||
Forfeited or expired Range | CAD / shares | CAD 1.62 | |||
Outstanding and Exercisable Range | CAD / shares | CAD 1.62 | |||
Stock Option In Us Dollars [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of Options Outstanding and Exercisable at Beginning | shares | 1,094,000 | 1,094,000 | 1,072,000 | 1,072,000 |
Number of Options Granted | shares | 370,000 | 370,000 | 71,000 | 71,000 |
Number of Options Exercised | shares | (4,000) | (4,000) | (33,000) | (33,000) |
Number of Options Forfeited or expired | shares | (32,000) | (32,000) | (16,000) | (16,000) |
Number of Options Outstanding and Exercisable at Ending | shares | 1,428,000 | 1,428,000 | 1,094,000 | 1,094,000 |
Exercised Range | $ 1.50 | |||
Weighted-average Exercise Price Outstanding and Exercisable at Beginning | 1.77 | $ 1.77 | ||
Weighted- average Granted | 2.42 | 1.36 | ||
Weighted- average Exercised | 1.50 | 0.83 | ||
Weighted- average Forfeited or expired | 2.65 | 2.24 | ||
Weighted-average Exercise Price Outstanding and Exercisable at Ending | 1.93 | 1.77 | ||
Stock Option In Us Dollars [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Outstanding and Exercisable Range | 3.60 | 15.66 | ||
Granted Range | 2.45 | 2.51 | ||
Exercised Range | 1.05 | |||
Forfeited or expired Range | 2.69 | 15.66 | ||
Outstanding and Exercisable Range | 3.60 | $ 3.60 | ||
Stock Option In Us Dollars [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of Options Granted | shares | 1,130 | 1,130 | ||
Outstanding and Exercisable Range | 0.45 | $ 0.45 | ||
Granted Range | 2.11 | 1.13 | ||
Exercised Range | 0.60 | |||
Forfeited or expired Range | 1.89 | 0.54 | ||
Outstanding and Exercisable Range | $ 0.45 | $ 0.45 |
Stock options (Price In Canadia
Stock options (Price In Canadian Dollars) (Details) shares in Thousands | 12 Months Ended |
Dec. 31, 2016CAD / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number Outstanding and Exercisable | 1,428 |
Weighted average remaining life (years) | 4 years 7 months 2 days |
Currency Canadian Dollar [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number Outstanding and Exercisable | 999 |
Weighted average remaining life (years) | 1 year 4 months 6 days |
Price In Canadian Dollars 1.62 [Member] | Currency Canadian Dollar [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | CAD / shares | CAD 1.62 |
Number Outstanding and Exercisable | 17 |
Weighted average remaining life (years) | 1 year 3 months 4 days |
Price In Canadian Dollars 1.89 [Member] | Currency Canadian Dollar [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | CAD / shares | CAD 1.89 |
Number Outstanding and Exercisable | 76 |
Weighted average remaining life (years) | 1 year 4 months 20 days |
Price In Canadian Dollars 2.43 [Member] | Currency Canadian Dollar [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | CAD / shares | CAD 2.43 |
Number Outstanding and Exercisable | 906 |
Weighted average remaining life (years) | 1 year 4 months 6 days |
Stock Options (Price In US Doll
Stock Options (Price In US Dollars) (Details) shares in Thousands | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Number Outstanding and Exercisable | 1,428 |
Remaining life (years) | 4 years 7 months 2 days |
Price In Us Dollars 0.45 [Member] | |
Number Outstanding and Exercisable | 11 |
Remaining life (years) | 2 years 7 months 17 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 0.45 |
Price In Us Dollars 0.54 [Member] | |
Number Outstanding and Exercisable | 19 |
Remaining life (years) | 3 years 4 months 17 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 0.54 |
Price In Us Dollars 0.60 [Member] | |
Number Outstanding and Exercisable | 58 |
Remaining life (years) | 2 years 6 months 14 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 0.60 |
Price In Us Dollars 0.72 [Member] | |
Number Outstanding and Exercisable | 83 |
Remaining life (years) | 3 years 4 months 24 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 0.72 |
Price In Us Dollars 0.96 [Member] | |
Number Outstanding and Exercisable | 11 |
Remaining life (years) | 3 years 11 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 0.96 |
Price In Us Dollars 1.05 [Member] | |
Number Outstanding and Exercisable | 113 |
Remaining life (years) | 2 years 11 months 19 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 1.05 |
Price In Us Dollars 1.13[Member] | |
Number Outstanding and Exercisable | 50 |
Remaining life (years) | 5 years 11 months 12 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 1.13 |
Price In Us Dollars 1.23 [Member] | |
Number Outstanding and Exercisable | 8 |
Remaining life (years) | 4 years 1 month 24 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 1.23 |
Price In Us Dollars 1.50 [Member] | |
Number Outstanding and Exercisable | 16 |
Remaining life (years) | 2 years 3 months 22 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 1.50 |
Price In Us Dollars 1.59 [Member] | |
Number Outstanding and Exercisable | 176 |
Remaining life (years) | 4 years 14 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 1.59 |
Price In Us Dollars 1.68 [Member] | |
Number Outstanding and Exercisable | 33 |
Remaining life (years) | 2 years 11 months 19 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 1.68 |
Price In Us Dollars 1.89 [Member] | |
Number Outstanding and Exercisable | 8 |
Remaining life (years) | 1 year 7 months 17 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 1.89 |
Price In Us Dollars 2.11 [Member] | |
Number Outstanding and Exercisable | 36 |
Remaining life (years) | 7 years |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 2.11 |
Price In Us Dollars 2.30 [Member] | |
Number Outstanding and Exercisable | 4 |
Remaining life (years) | 3 years 10 months 24 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 2.30 |
Price In Us Dollars 2.31 [Member] | |
Number Outstanding and Exercisable | 275 |
Remaining life (years) | 4 years 3 months 14 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 2.31 |
Price In Us Dollars 2.35 [Member] | |
Number Outstanding and Exercisable | 4 |
Remaining life (years) | 4 years 4 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 2.35 |
Price In Us Dollars 2.40 [Member] | |
Number Outstanding and Exercisable | 8 |
Remaining life (years) | 2 years 10 months 6 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 2.40 |
Price In Us Dollars 2.44 [Member] | |
Number Outstanding and Exercisable | 49 |
Remaining life (years) | 6 years 1 month 10 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 2.44 |
Price In Us Dollars 2.45 [Member] | |
Number Outstanding and Exercisable | 285 |
Remaining life (years) | 6 years 6 months 4 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 2.45 |
Price In Us Dollars 2.51 [Member] | |
Number Outstanding and Exercisable | 4 |
Remaining life (years) | 3 years 9 months 25 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 2.51 |
Price In Us Dollars 2.55 [Member] | |
Number Outstanding and Exercisable | 4 |
Remaining life (years) | 3 years 7 months 24 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 2.55 |
Price In Us Dollars 2.69 [Member] | |
Number Outstanding and Exercisable | 118 |
Remaining life (years) | 4 years 9 months 11 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 2.69 |
Price In Us Dollars 2.79 [Member] | |
Number Outstanding and Exercisable | 49 |
Remaining life (years) | 4 years 7 months 2 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 2.79 |
Price In Us Dollars 2.94 [Member] | |
Number Outstanding and Exercisable | 3 |
Remaining life (years) | 2 years 10 months 28 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 2.94 |
Price In Us Dollars 3.60 [Member] | |
Number Outstanding and Exercisable | 3 |
Remaining life (years) | 3 years 4 months 24 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price | $ / shares | $ 3.60 |
Stock options (Options Were Gra
Stock options (Options Were Granted Based On The Black Scholes Option Pricing Model) (Details) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Expected dividend | 0.00% | 0.00% |
Expected life | 7 years | 7 years |
Maximum [Member] | ||
Risk-free interest rate | 2.25% | 2.02% |
Expected volatility | 137.00% | 153.00% |
Minimum [Member] | ||
Risk-free interest rate | 1.27% | 1.89% |
Expected volatility | 134.00% | 127.00% |
Stock options (Modification of
Stock options (Modification of Existing US Dollar Denominated Options) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 7 years | 7 years |
Share Based Compensation | $ 615 | $ 97 |
Executives and Directors [Member] | U.S.dollars [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 51 | |
Share Based Compensation | $ 4 | |
Executives and Directors [Member] | U.S.dollars [Member] | Stock Option Grant One [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 6 | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Nov. 18, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 0.93% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $ 1.50 | |
Share Price | $ 2.43 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 3 years 5 months 8 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 152.00% | |
Share Based Compensation | $ 1 | |
Executives and Directors [Member] | U.S.dollars [Member] | Stock Option Grant Two [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 17 | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Apr. 4, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 1.08% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $ 0.60 | |
Share Price | $ 2.43 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 3 years 9 months 25 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 155.00% | |
Share Based Compensation | $ 1 | |
Executives and Directors [Member] | U.S.dollars [Member] | Stock Option Grant Three [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 19 | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | May 17, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 1.08% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $ 0.54 | |
Share Price | $ 2.43 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 3 years 11 months 8 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 154.00% | |
Share Based Compensation | $ 1 | |
Executives and Directors [Member] | U.S.dollars [Member] | Stock Option Grant Four [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 9 | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Nov. 20, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 1.08% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $ 1.05 | |
Share Price | $ 2.43 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 4 years 5 months 12 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 147.00% | |
Share Based Compensation | $ 1 |
Stock options (Modification o34
Stock options (Modification of Existing Canadian Dollar Denominated Options) (Details) - CAD CAD / shares in Units, shares in Thousands, CAD in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 7 years | 7 years |
Executives and Directors [Member] | Canadian dollars [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 665 | |
Stock or Unit Option Plan Expense | CAD 347 | |
Executives and Directors [Member] | Canadian dollars [Member] | Stock Option Grant One [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 17 | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Aug. 18, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.52% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | CAD 1.89 | |
Share Price | CAD 3.10 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 2 years 2 months 8 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 94.00% | |
Stock or Unit Option Plan Expense | CAD 9 | |
Executives and Directors [Member] | Canadian dollars [Member] | Stock Option Grant Two [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 648 | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date | Aug. 18, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.52% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | CAD 2.43 | |
Share Price | CAD 3.10 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 2 years 2 months 8 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 94.00% | |
Stock or Unit Option Plan Expense | CAD 338 |
Stock options - Additional Info
Stock options - Additional Information (Details) $ / shares in Units, CAD in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | |||
Apr. 25, 2014shares | Jun. 24, 2010shares | Dec. 31, 2016USD ($)$ / shares | Dec. 31, 2016CAD | Dec. 31, 2015USD ($)$ / shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ | $ 575 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ | 3 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ | $ 280 | ||||
Description of Difference between Reported Amount and Reporting Currency Denominated Amount | exchange rate of $CAD/$USD 0.7881 | exchange rate of $CAD/$USD 0.7881 | |||
US Dollar Denominated Options [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Description and Terms | the Company modified the terms of certain options granted to executives and directors by extending the expiration date by 1 year. | the Company modified the terms of certain options granted to executives and directors by extending the expiration date by 1 year. | |||
Canadian Dollar Denominated Options [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Description and Terms | Company modified the terms of certain options granted to executives and directors by extending the expiration date by a weighted average amount of 1.45 years. | Company modified the terms of certain options granted to executives and directors by extending the expiration date by a weighted average amount of 1.45 years. | |||
Director [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 133,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 66 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 67 | ||||
General and Administrative Expense [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Allocated Share-based Compensation Expense | $ | $ 615 | $ 97 | |||
General and Administrative Expense [Member] | Executives and Directors [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Stock or Unit Option Plan Expense | $ 4 | CAD 347 | |||
Stock Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares issuable under Stock Option Plan | 6,666 | ||||
Percentage Of Total Number Of Share Issued and Outstanding | 25.00% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 2.42 | $ 1.37 | |||
Plan Maximum Amendment [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares issuable under Stock Option Plan | 3,410 |
Derivative Liabilities (Contrac
Derivative Liabilities (Contractor Option Activity) (Details) - $ / shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Number of Options Outstanding and Exercisable at Ending | 1,428 | |
Derivative Instrument Option Activity [Member] | ||
Number of Options Outstanding and Exercisable at Beginning | 40 | 55 |
Number of Options Exercised | 0 | (14) |
Number of Options Forfeited or expired | 0 | (1) |
Number of Options Outstanding and Exercisable at Ending | 40 | 40 |
Weighted-average Exercise Price Outstanding and Exercisable at Beginning | $ 1.81 | $ 1.84 |
Weighted-average Exercise Price Exercised | 0 | 1.94 |
Weighted-average Exercise Price Forfeited or expired | 0 | 1.82 |
Weighted-average Exercise Price Outstanding and Exercisable at Ending | $ 1.81 | $ 1.81 |
Derivative Liabilities (fair va
Derivative Liabilities (fair value liability) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Derivatives, Fair Value [Line Items] | ||
Derivative Liability | $ 33 | $ 82 |
Unrealized Gain (Loss) on Derivatives | 48 | 1,237 |
Warrant on April 30, 2015 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability | 0 | 0 |
Unrealized Gain (Loss) on Derivatives | 0 | 411 |
Warrant on March 29, 2016 [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability | 0 | 41 |
Unrealized Gain (Loss) on Derivatives | 41 | 748 |
Options [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability | 33 | 41 |
Unrealized Gain (Loss) on Derivatives | $ 7 | $ 78 |
Derivative Liabilities - Additi
Derivative Liabilities - Additional Information (Details) shares in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($) | Dec. 31, 2016CAD / shares | Dec. 31, 2011shares | Dec. 31, 2010shares | |
Derivative [Line Items] | |||||
Common shares issuable upon exercise of outstanding warrants | 1,383 | ||||
Derivative Liability | $ | $ 33 | $ 82 | |||
Unrealized (loss)/gain on derivatives | $ | $ 48 | 1,237 | |||
Invester Option [Member] | |||||
Derivative [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 40 | ||||
Options Held [Member] | |||||
Derivative [Line Items] | |||||
Derivative Liability | $ | $ 33 | 41 | |||
Options to Contractors [Member] | |||||
Derivative [Line Items] | |||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 36 | 29 | |||
Unrealized (loss)/gain on derivatives | $ | $ 7 | $ 78 | |||
Contractor Options Expire On November 19, 2017 [Member] | |||||
Derivative [Line Items] | |||||
Common shares issuable upon exercise of outstanding warrants | 21 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | CAD / shares | CAD 1.89 | ||||
Contractor Options Expire On April 4, 2018 [Member] | |||||
Derivative [Line Items] | |||||
Common shares issuable upon exercise of outstanding warrants | 17 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | CAD / shares | 1.62 | ||||
Contractor Options Expire On May 18, 2018 [Member] | |||||
Derivative [Line Items] | |||||
Common shares issuable upon exercise of outstanding warrants | 2 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | CAD / shares | CAD 2.43 |
Fair Value Measurements (Assets
Fair Value Measurements (Assets/Liabilities Measured at Fair Value on Recurring Basis) (Details) $ in Thousands | Dec. 31, 2016USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Cash and cash equivalents | $ 3,926 | |
Derivative liabilities | 33 | |
Quoted Price in Active Markets for Identical Instruments Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Cash and cash equivalents | 68 | [1] |
Derivative liabilities | 0 | |
Significant Other Observable Inputs Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Cash and cash equivalents | 3,858 | |
Derivative liabilities | 33 | |
Significant Unobservable Inputs Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Cash and cash equivalents | $ 0 | |
[1] | The Company held $68 in cash, of which $51 was in Canadian funds (translated into U.S. dollars). |
Fair Value Measurements (Asse40
Fair Value Measurements (Assets/Liabilities Measured at Fair Value on Recurring Basis) (Parenthetical) (Details) - 12 months ended Dec. 31, 2016 CAD in Thousands, $ in Thousands | USD ($) | CAD |
Assumptions used to Determine Fair Value Options [Line Items] | ||
Cash | $ 51 | CAD 68 |
Warrant [Member] | ||
Assumptions used to Determine Fair Value Options [Line Items] | ||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | |
Employee Stock Option [Member] | Minimum [Member] | ||
Assumptions used to Determine Fair Value Options [Line Items] | ||
Risk free interest rate | 0.33% | |
Expected volatility rate | 57.00% | |
Expected life | 10 months 24 days | |
Employee Stock Option [Member] | Maximum [Member] | ||
Assumptions used to Determine Fair Value Options [Line Items] | ||
Risk free interest rate | 0.74% | |
Expected volatility rate | 85.00% | |
Expected life | 1 year 4 months 24 days |
Stockholders' Equity (Warrants
Stockholders' Equity (Warrants Outstanding to Purchase Common Stock) (Details) shares in Thousands | 12 Months Ended | |
Dec. 31, 2016$ / sharesshares | ||
Class of Warrant or Right [Line Items] | ||
Common shares issuable upon exercise of outstanding warrants | 1,383 | |
Inverstor warrants one | ||
Class of Warrant or Right [Line Items] | ||
Common shares issuable upon exercise of outstanding warrants | 1,333 | [1] |
Exercise price in CAD/USD Dollars | $ / shares | $ 1.50 | [1] |
Expiration Date | Nov. 22, 2018 | [1] |
Investor warrants two | ||
Class of Warrant or Right [Line Items] | ||
Common shares issuable upon exercise of outstanding warrants | 50 | [2] |
Exercise price in CAD/USD Dollars | $ / shares | $ 3 | [2] |
Expiration Date | Feb. 2, 2019 | [2] |
[1] | On November 22, 2013, the Company announced it had completed the closing of a non-brokered private placement of 4,000 units, at a price of $0.40 per unit for net proceeds of $1,600. Each unit consisted of one common share of the Company and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share of the Company at a price of $0.50 per share for a period of five years from the date of issuance. As a result of the September 3, 2014 share consolidation, each three (3) warrants now entitle the holder thereof to purchase one common share of the Company at a purchase price of $1.50 per whole share for a period of five years from the issue date. | |
[2] | On February 2, 2016 the company issued 50 warrants to Aranea Partners in lieu of cash for investor services. These warrants are fully vested at December 31, 2016 and are redeemable for $3.00 per common share. The fair value of these warrants is estimated using the Black-Scholes pricing model. |
Stockholders' Equity (Warrant42
Stockholders' Equity (Warrants Outstanding to Purchase Common Stock) (Parenthetical) (Details) - USD ($) $ / shares in Units, $ in Thousands | Feb. 02, 2016 | May 16, 2016 | Nov. 22, 2013 | Dec. 31, 2016 | Sep. 03, 2014 |
Class of Warrant or Right [Line Items] | |||||
Common shares issuable upon exercise of outstanding warrants | (1,383,000) | ||||
Aranea Partners [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Class of Warrant or Right ,Warrants Issued | 50,000 | ||||
Class Of warrant Or Right , Warrants Redeemable Price | $ 3 | ||||
Private Placement [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Issuance of stock | 2,631,579 | ||||
Issuance of stock, price per share | $ 1.90 | ||||
Proceeds from issuance of unit | $ 5,000,000 | ||||
Equity Issuance Shares Issued | 1,000 | ||||
Nonbroker Rights [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Issuance of stock | 4,000,000 | ||||
Issuance of stock, price per share | $ 0.40 | ||||
Proceeds from issuance of unit | $ 1,600 | ||||
Common shares issuable upon exercise of outstanding warrants | (3,000) | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.50 | $ 1.50 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 12 Months Ended |
May 16, 2016 | Dec. 31, 2016 | |
U.S.dollars [Member] | ||
Stockholders Equity Note [Line Items] | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.55 | |
Class Or Warrant Or Right Outstanding Weighted Average Remaining Contractual Terms | 1 year 10 months 24 days | |
Private Placement [Member] | ||
Stockholders Equity Note [Line Items] | ||
Stock Issued During Period, Shares, New Issues | 2,631,579 | |
Proceeds From Issuance Of Private Placement | $ 5,000 | |
Equity Issuance Per Share Amounts | $ 1.90 |
Sale of Asset - Additional Info
Sale of Asset - Additional Information (Details) $ in Thousands | 1 Months Ended |
Aug. 29, 2016USD ($) | |
Proceeds from Sale of Property, Plant, and Equipment | $ 40 |
Disposal Of Asset Percentage Of Revenue Sharing | 5.00% |
Commitments and Contingencies -
Commitments and Contingencies - Additional information (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Rostislav Raykov | |
Severance Costs Payable In Case Of Termination Other Than For Cause | $ 250 |
Chief Financial Officer [Member] | Terminated After April 30, 2016 [Member] | |
Severance Costs Payable In Case Of Termination Other Than For Cause | $ 95 |
De-recognition of Statute Bar46
De-recognition of Statute Barred Payables - Additional Information (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Derecognized Of Payable, Reversed Into Expenses | $ 79 |
General and Administrative Expense [Member] | |
Derecognized Of Payable, Reversed Into Expenses | 23 |
Research and Development Expense [Member] | |
Derecognized Of Payable, Reversed Into Expenses | $ 56 |
Income Taxes (Canadian federal
Income Taxes (Canadian federal and provincial income tax rate) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule Of Effective Tax Rate [Line Items] | ||
Domestic (loss)/gain | $ (1,771) | $ 294 |
Foreign loss | (1,018) | (952) |
Loss before income taxes | $ (2,789) | $ (658) |
Expected statutory rate (recovery) | 26.50% | 26.50% |
Expected provision for (recovery of) income tax | $ (739) | $ (174) |
Permanent differences | 156 | (301) |
Change in valuation allowance | 583 | (1,297) |
Effect of foreign exchange rate differences | 0 | 0 |
Effect of non-capital losses expired | 0 | 1,318 |
Tax credits and other adjustments | 1 | 450 |
Effect of tax rate changes and other | (1) | 4 |
Provision for income taxes | $ 0 | $ 0 |
Income Taxes (Future Income Tax
Income Taxes (Future Income Taxes (Recovery)) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Income Taxes Future Recovery Disclosure [Line Items] | ||
Future tax assets gross | $ 23,592 | $ 23,010 |
Less: valuation allowance | (23,592) | (23,010) |
Net future tax assets | 0 | 0 |
SR & ED expenditures [Member] | ||
Income Taxes Future Recovery Disclosure [Line Items] | ||
Future tax assets gross | 2,195 | 2,195 |
Income tax loss carryforwards [Member] | ||
Income Taxes Future Recovery Disclosure [Line Items] | ||
Future tax assets gross | 19,098 | 18,509 |
Non-refundable investment tax credits [Member] | ||
Income Taxes Future Recovery Disclosure [Line Items] | ||
Future tax assets gross | 1,263 | 1,263 |
Share issue costs [Member] | ||
Income Taxes Future Recovery Disclosure [Line Items] | ||
Future tax assets gross | 4 | 10 |
Accrued expenses [Member] | ||
Income Taxes Future Recovery Disclosure [Line Items] | ||
Future tax assets gross | 0 | 0 |
Fixed and intangible assets [Member] | ||
Income Taxes Future Recovery Disclosure [Line Items] | ||
Future tax assets gross | 1,032 | 1,032 |
Harmonization credit [Member] | ||
Income Taxes Future Recovery Disclosure [Line Items] | ||
Future tax assets gross | $ 0 | $ 0 |
Income Taxes (Income Tax Loss C
Income Taxes (Income Tax Loss Carry Forwards And Non-Refundable Investment tax Credits) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Federal [Member] | |
Income Tax [Line Items] | |
SR & ED expenditures (no expiry) | $ 8,283 |
Federal [Member] | Year 2021 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 26 |
Investment tax credits (expiry date) | 55 |
Federal [Member] | Year 2022 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 233 |
Investment tax credits (expiry date) | 548 |
Federal [Member] | Year 2023 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 133 |
Investment tax credits (expiry date) | 399 |
Federal [Member] | Year 2024 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 1,536 |
Investment tax credits (expiry date) | 178 |
Federal [Member] | Year 2025 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 4,795 |
Investment tax credits (expiry date) | 199 |
Federal [Member] | Year 2026 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 20,562 |
Investment tax credits (expiry date) | 86 |
Federal [Member] | Year 2027 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 8,340 |
Investment tax credits (expiry date) | 90 |
Federal [Member] | Year 2028 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 10,840 |
Investment tax credits (expiry date) | 50 |
Federal [Member] | Year 2029 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 8,502 |
Investment tax credits (expiry date) | 0 |
Federal [Member] | Year 2030 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 2,608 |
Investment tax credits (expiry date) | 0 |
Federal [Member] | Year 2031 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 3,378 |
Federal [Member] | Year 2032 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 3,491 |
Federal [Member] | Year 2033 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 1,788 |
Federal [Member] | Year 2034 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 1,812 |
Federal [Member] | Year 2035 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 1,803 |
Federal [Member] | Year 2036 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 2,222 |
Federal [Member] | Year 2018 [Member] | |
Income Tax [Line Items] | |
Investment tax credits (expiry date) | 10 |
Federal [Member] | Year 2019 [Member] | |
Income Tax [Line Items] | |
Investment tax credits (expiry date) | 8 |
Federal [Member] | Year 2020 [Member] | |
Income Tax [Line Items] | |
Investment tax credits (expiry date) | 96 |
Province State [Member] | |
Income Tax [Line Items] | |
SR & ED expenditures (no expiry) | 0 |
Province State [Member] | Year 2021 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 0 |
Province State [Member] | Year 2022 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 0 |
Province State [Member] | Year 2023 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 0 |
Province State [Member] | Year 2024 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 1,455 |
Province State [Member] | Year 2025 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 4,768 |
Province State [Member] | Year 2026 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 12,945 |
Province State [Member] | Year 2027 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 10,866 |
Province State [Member] | Year 2028 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 10,550 |
Province State [Member] | Year 2029 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 3,915 |
Province State [Member] | Year 2030 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 3,243 |
Province State [Member] | Year 2031 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 3,675 |
Province State [Member] | Year 2032 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 1,754 |
Province State [Member] | Year 2033 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 1,781 |
Province State [Member] | Year 2034 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 1,684 |
Province State [Member] | Year 2035 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | 2,150 |
Province State [Member] | Year 2036 [Member] | |
Income Tax [Line Items] | |
Income tax loss carryforwards (expiry date) | $ 1,013 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2016 | |
Canadian Statutory Income Tax [Member] | |
Income Taxes Disclosure - Additional Information [Line Items] | |
IncomeTax Rate | 26.00% |
Federal Income Tax [Member] | |
Income Taxes Disclosure - Additional Information [Line Items] | |
IncomeTax Rate | 15.00% |
Provincial Income Tax [Member] | |
Income Taxes Disclosure - Additional Information [Line Items] | |
IncomeTax Rate | 11.00% |