Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Mar. 10, 2020 | Jun. 30, 2019 | |
Document Information [Line Items] | |||
Entity Registrant Name | Aptose Biosciences Inc. | ||
Entity Central Index Key | 0000882361 | ||
Trading Symbol | apto | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | true | ||
Entity Ex Transition Period | true | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 76,269,806 | ||
Entity Public Float | $ 143,417,295 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Shares, without par value |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 79,842 | $ 15,299 |
Investments | 17,758 | 440 |
Prepaid expenses | 1,025 | 646 |
Other current assets | 141 | 101 |
Total current assets | 98,766 | 16,486 |
Non-current assets: | ||
Property and equipment | 334 | 384 |
Right-of-use assets, operating leases | 1,376 | |
Total non-current assets | 1,710 | 384 |
Total assets | 100,476 | 16,870 |
Current liabilities: | ||
Accounts payable | 1,960 | 1,315 |
Accrued liabilities | 3,058 | 1,474 |
Current portion of lease liability, operating leases | 521 | |
Total current liabilities | 5,539 | 2,789 |
Non-current liabilities: | ||
Lease liability, operating leases | 1,011 | |
Total liabilities | 6,550 | 2,789 |
Shareholders’ equity: | ||
Common shares, no par value, unlimited authorized shares, 76,108,031 and 38,161,808 shares issued and outstanding at December 31, 2019 and December 31, 2018 | 365,490 | 261,072 |
Additional paid-in capital | 34,649 | 32,963 |
Accumulated other comprehensive loss | (4,298) | (4,316) |
Deficit | (301,915) | (275,638) |
Total shareholders’ equity | 93,926 | 14,081 |
Total liabilities and shareholders’ equity | $ 100,476 | $ 16,870 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Position (Parentheticals) - $ / shares $ / shares in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Common shares, par value (in dollars per share) | $ 0 | $ 0 |
Common shares, authorized | Unlimited | Unlimited |
Common shares, issued (in shares) | 76,108,031 | 38,161,808 |
Common shares, oustanding (in shares) | 76,108,031 | 38,161,808 |
Consolidated Statements of Loss
Consolidated Statements of Loss and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue | ||
Expenses: | ||
Research and development | 16,835 | 18,733 |
General and administrative | 10,022 | 10,374 |
Operating expenses | 26,857 | 29,107 |
Other income (expense): | ||
Interest income | 574 | 283 |
Foreign exchange gain/(loss) | 6 | (44) |
Total other income | 580 | 239 |
Net loss | (26,277) | (28,868) |
Other comprehensive loss: | ||
Unrealized gain on securities available-for-sale | 18 | |
Total comprehensive loss | $ (26,259) | $ (28,868) |
Basic and diluted loss per common share (in dollars per share) | $ (0.52) | $ (0.86) |
Weighted average number of common shares outstanding used in the calculation of (in thousands) Basic and diluted loss per common share (in shares) | 50,160 | 33,391 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | December 2019 Public Offering [Member]Common Stock [Member] | December 2019 Public Offering [Member]Additional Paid-in Capital [Member] | December 2019 Public Offering [Member]AOCI Attributable to Parent [Member] | December 2019 Public Offering [Member]Retained Earnings [Member] | December 2019 Public Offering [Member] | June 2019 Public Offering [Member]Common Stock [Member] | June 2019 Public Offering [Member]Additional Paid-in Capital [Member] | June 2019 Public Offering [Member]AOCI Attributable to Parent [Member] | June 2019 Public Offering [Member]Retained Earnings [Member] | June 2019 Public Offering [Member] | The 2019 Share Purchase Agreement [Member]Common Stock [Member] | The 2019 Share Purchase Agreement [Member]Additional Paid-in Capital [Member] | The 2019 Share Purchase Agreement [Member]AOCI Attributable to Parent [Member] | The 2019 Share Purchase Agreement [Member]Retained Earnings [Member] | The 2019 Share Purchase Agreement [Member] | The 2018 ATM Offering [Member]Common Stock [Member] | The 2018 ATM Offering [Member]Additional Paid-in Capital [Member] | The 2018 ATM Offering [Member]AOCI Attributable to Parent [Member] | The 2018 ATM Offering [Member]Retained Earnings [Member] | The 2018 ATM Offering [Member] | The 2018 Purchase Agreement [Member]Common Stock [Member] | The 2018 Purchase Agreement [Member]Additional Paid-in Capital [Member] | The 2018 Purchase Agreement [Member]AOCI Attributable to Parent [Member] | The 2018 Purchase Agreement [Member]Retained Earnings [Member] | The 2018 Purchase Agreement [Member] | The 2017 Purchase Agreement [Member]Common Stock [Member] | The 2017 Purchase Agreement [Member]Additional Paid-in Capital [Member] | The 2017 Purchase Agreement [Member]AOCI Attributable to Parent [Member] | The 2017 Purchase Agreement [Member]Retained Earnings [Member] | The 2017 Purchase Agreement [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 27,502,000 | ||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2017 | $ 231,923 | $ 29,365 | $ (4,316) | $ (246,770) | $ 10,202 | ||||||||||||||||||||||||||||||
Common shares issued (in shares) | 4,086,000 | 4,085,615 | 1,078,000 | 5,232,000 | 5,231,953 | ||||||||||||||||||||||||||||||
Common shares issued | $ 10,710 | $ 10,710 | $ 2,526 | $ 2,526 | $ 14,995 | $ 14,995 | |||||||||||||||||||||||||||||
Common shares issued upon exercise of stock options (in shares) | 114,000 | 114,000 | |||||||||||||||||||||||||||||||||
Common shares issued upon exercise of stock options | $ 415 | (175) | $ 240 | ||||||||||||||||||||||||||||||||
Common shares issued on redemption of restricted share units (in shares) | 150,000 | ||||||||||||||||||||||||||||||||||
Common shares issued on redemption of restricted share units | $ 503 | (503) | |||||||||||||||||||||||||||||||||
Stock-based compensation | 4,276 | 4,276 | |||||||||||||||||||||||||||||||||
Net loss | (28,868) | (28,868) | |||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2018 | 38,162,000 | ||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2018 | $ 261,072 | 32,963 | (4,316) | (275,638) | $ 14,081 | ||||||||||||||||||||||||||||||
Common shares issued (in shares) | 18,544,000 | 11,500,000 | 1,971,000 | 77,000 | 5,502,000 | 30,043,750 | |||||||||||||||||||||||||||||
Common shares issued | $ 68,588 | $ 68,588 | $ 19,594 | $ 19,594 | $ 4,730 | $ 4,730 | $ 178 | $ 178 | $ 10,000 | $ 10,000 | |||||||||||||||||||||||||
Common shares issued upon exercise of stock options (in shares) | 312,000 | 312,000 | |||||||||||||||||||||||||||||||||
Common shares issued upon exercise of stock options | $ 1,248 | (530) | $ 718 | ||||||||||||||||||||||||||||||||
Common shares issued on redemption of restricted share units (in shares) | 40,000 | ||||||||||||||||||||||||||||||||||
Common shares issued on redemption of restricted share units | $ 80 | (80) | |||||||||||||||||||||||||||||||||
Stock-based compensation | 2,296 | 2,296 | |||||||||||||||||||||||||||||||||
Other comprehensive gain (loss) | 18 | 18 | |||||||||||||||||||||||||||||||||
Net loss | (26,277) | (26,277) | |||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2019 | 76,108,000 | ||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2019 | $ 365,490 | $ 34,649 | $ (4,298) | $ (301,915) | $ 93,926 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities: | ||
Net loss for the year | $ (26,277,000) | $ (28,868,000) |
Items not involving cash: | ||
Stock-based compensation | 2,296,000 | 4,276,000 |
Shares issued to Aspire Capital as commitment fees | 360,000 | 600,000 |
Depreciation and amortization | 152,000 | 87,000 |
Amortization of right-of-use assets | 461,000 | |
Interest on lease liabilities | 90,000 | |
Unrealized foreign exchange gain/(loss) | (23,000) | 25,000 |
Accrued interest on investments | (34,000) | |
Change in operating working capital: | ||
Prepaid expenses | (379,000) | (324,000) |
Operating lease payments | (471,000) | |
Other assets | (40,000) | (27,000) |
Accounts payable | 645,000 | 726,000 |
Accrued liabilities | 1,662,000 | 298,000 |
Cash used in operating activities | (21,558,000) | (23,207,000) |
Cash flows from financing activities: | ||
Offering costs paid | (437,000) | (15,000) |
Issuance of common shares pursuant to exercise of stock options | 718,000 | 240,000 |
Cash provided by financing activities | 103,448,000 | 27,871,000 |
Cash flows from (used in) investing activities: | ||
Maturity (acquisition) of investments, net | (17,268,000) | 341,000 |
Purchase of property and equipment | (102,000) | (329,000) |
Cash provided by (used in) investing activities | (17,370,000) | 12,000 |
Effect of exchange rate fluctuations on cash and cash equivalents held | 23,000 | (8,000) |
Increase in cash and cash equivalents | 64,543,000 | 4,668,000 |
Cash and cash equivalents, beginning of year | 15,299,000 | 10,631,000 |
Cash and cash equivalents, end of year | 79,842,000 | 15,299,000 |
December 2019 Public Offering [Member] | ||
Cash flows from financing activities: | ||
Issuance of common shares | 68,883,000 | |
June 2019 Public Offering [Member] | ||
Cash flows from financing activities: | ||
Issuance of common shares | 19,736,000 | |
The 2018 ATM Offering [Member] | ||
Cash flows from financing activities: | ||
Issuance of common shares | 178,000 | 10,720,000 |
The 2019 Share Purchase Agreement [Member] | ||
Cash flows from financing activities: | ||
Issuance of common shares | 4,370,000 | |
The 2018 Purchase Agreement [Member] | ||
Cash flows from financing activities: | ||
Issuance of common shares | 10,000,000 | 1,926,000 |
The 2017 Purchase Agreement [Member] | ||
Cash flows from financing activities: | ||
Issuance of common shares | $ 15,000,000 |
Note 1 - Reporting Entity
Note 1 - Reporting Entity | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Reporting entity: Aptose Biosciences Inc. (“Aptose” or the “Company”) is a clinical-stage biotechnology company committed to discovering and developing personalized therapies addressing unmet medical needs in oncology. The Company’s executive office is located in San Diego, California and its corporate office is located in Toronto, Canada. Aptose has two third CG026806 806” 3 FLT3 1a/b, 806 1 253, second 1b Since our inception, we have financed our operations and technology acquisitions primarily from equity financing, proceeds from the exercise of warrants and stock options, and interest income on funds held for future investment. Our uses of cash for operating activities have primarily consisted of salaries and wages for our employees, facility and facility-related costs for our offices and laboratories, fees paid in connection with preclinical and clinical studies, drug manufacturing costs, laboratory supplies and materials, and professional fees. During the year ended December 31, 2019, two 30,043,750 $95.45 $88.18 two 7,302,433 $14.4 We do not We believe that our cash, cash equivalents and investments on hand at December 31, 2019 12 may We expect that we will need to raise additional capital or incur indebtedness to continue to fund our operations in the future. Our ability to raise additional funds could be affected by adverse market conditions, the status of our product pipeline and various other factors and we may not may |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Significant accounting policies (a) Basis of consolidation: These consolidated financial statements include the accounts of its subsidiaries. All intercompany transactions, balances, revenue and expenses are eliminated on consolidation. (b) Basis of presentation: These consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States, or GAAP and the rules and regulations of the Securities and Exchange Commission, or SEC, related to annual reports filed on Form 10 (c) Significant accounting policies, estimates and judgments: The preparation of the consolidated financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting period. Actual outcomes could differ from those estimates. The consolidated financial statements include estimates, which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the consolidated financial statements and may The estimates and underlying assumptions are reviewed on a regular basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised and in any future periods affected. (d) Leases Effective January 1, 2019, No. 2016 02, 842 twelve Impact of adoption: As a result of adopting Topic 842, January 1, 2019, $1.570 $1.647 $78 (e) Cash and cash equivalents: Cash and cash equivalents are short-term highly liquid investments with original maturities of 90 (f) Investments: Investments consist of time deposits with original maturities greater than 90 (g) Concentration of risk: The Company is subject to credit risk from the Company’s cash and cash equivalents and investments. The carrying amount of the financial assets represents the maximum credit exposure. The Company manages credit risk associated with its cash and cash equivalents and investments by maintaining minimum standards of R1 (h) Property and equipment: Property and equipment is measured at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditures that are directly attributable to the acquisition of the asset. The Company records depreciation at rates that charge operations with the cost of the assets over their estimated useful lives on a straight-line basis as follows: Office furniture (years) 5 Laboratory equipment (years) 5 Computer hardware (years) 3 Computer software (years) 3 Leasehold improvements Life of lease The residual value, useful life and methods of depreciation of the assets are reviewed at each reporting period and adjusted prospectively if appropriate. (i) Research and development: Research and development (R&D) costs are expensed as incurred. R&D costs consist primarily of salaries and benefits, stock-based compensation, manufacturing, contract services, clinical trials, intangibles, and research related overhead. Non-refundable advance payments for goods and services that will be used in future research are recorded in prepaid and other assets and are expensed when the services are performed. (j) Fair value: The Company measures its financial assets and liabilities at fair value. The carrying amounts for the Company’s financial instruments, including cash and cash equivalents, accounts payable and accrued liabilities approximate their fair value due to their short maturities. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. (k) Stock-based compensation: The Company has a stock-based compensation plan (the “Plan”) available to officers, directors, employees and consultants with grants under the Plan approved by the Company’s Board of Directors. Under the Plan, the exercise price of each option equals the closing trading price of the Company’s stock on the day prior to the grant if the grant is made during the trading day or the closing trading price on the day of grant if the grant is issued after markets have closed. Vesting is provided for at the discretion of the Board of Directors and the expiration of options is to be no 10 The Company uses the fair value based method of accounting for employee awards granted under the Plan. The Company calculates the fair value of each stock option grant using the Black-Scholes option pricing model at the grant date. The stock-based compensation cost of the options is recognized as stock-based compensation expense over the relevant vesting period of the stock options using an estimate of the number of options that will eventually vest. Stock options awarded to non-employees are accounted for at the fair value of the goods received or the services rendered. The fair value is measured at the grant date. In June 2018, No 2018 07, 718 December 15, 2018. not The Company has a stock incentive plan pursuant to which the Board may (l) Segment reporting: Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker, or CODM. The Company’s Chief Executive Officer serves as its CODM. The Company views its operations and manages its business as one (m) Loss per share: Basic loss per share is computed by dividing the net loss available to common shareholders by the weighted average number of shares outstanding during the year. Diluted loss per share is computed similarly to basic loss per share except that the weighted average share outstanding is increased to include additional shares for the assumed exercise of stock options and warrants, if dilutive. The number of additional shares is calculated by assuming that outstanding stock options and warrants were exercised and that the proceeds from such exercises were used to acquire common stock at the average market price during the year. The inclusion of the Company’s stock options and warrants in the computation of diluted loss per share has an anti-dilutive effect on the loss per share and, therefore, they have been excluded from the calculation of diluted loss per share. (n) Income taxes: The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which these temporary differences are expected to be recovered or settled. Valuation allowances are provided if, based on the weight of available evidence, it is more likely than not not The Company provides reserves for potential payments of tax to various tax authorities related to uncertain tax positions and other issues. Reserves are based on a determination of whether and how much of a tax benefit taken by the Company in its tax filing is more likely than not December 31, 2019 December 31, 2018, not not |
Note 3 - Cash and Cash Equivale
Note 3 - Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | 3. Cash and cash equivalents: Cash and cash equivalents consists of cash of $1.640 December 31, 2018 $621 90 $78.202 December 31, 2018 $14.678 |
Note 4 - Property and Equipment
Note 4 - Property and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 4. Property and equipment: December 31, 2019 Cost Accumulated Net book value Laboratory equipment $ 185 $ 160 $ 25 Computer hardware 122 60 62 Computer software 222 128 94 Office furniture 116 51 65 Leasehold improvements 177 89 88 $ 822 $ 488 $ 334 December 31, 2018 Cost Accumulated Net book value Laboratory equipment $ 176 $ 129 $ 47 Computer hardware 80 40 40 Computer software 222 80 142 Office furniture 82 28 54 Leasehold improvements 160 59 101 $ 720 $ 336 $ 384 |
Note 5 - Right of-use Assets, O
Note 5 - Right of-use Assets, Operating Leases | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Right-of-use Assets Disclosure [Text Block] | 5. Right of-use assets, operating leases: Year ended Year ended Right-of-use assets, January 1, 2019 $ 1,570 - Additions to right-of-use assets 267 - Right-of-use assets, December 31, 2019 1,837 - Accumulated amortization (461 ) - Right-of use assets, NBV 1,376 - |
Note 6 - Investments
Note 6 - Investments | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 6. Investments: Investments consisted of the following as of December 31, 2019 December 31, 2018: December 31, 2019 Cost Unrealized Market Guaranteed investment certificate(s) 12,008 18 12,026 Commercial notes 3,736 - 3,736 Canadian promissory note 1,996 - 1,996 17,740 18 17,758 December 31, 2018 Cost Unrealized Market Guaranteed investment certificate(s) 440 - 440 |
Note 7 - Fair Value Measurement
Note 7 - Fair Value Measurements and Financial Instruments | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 7. Fair value measurements and financial instruments: The fair value hierarchy establishes three Level 1 Level 2 not Level 3 no The fair value hierarchy gives the highest priority to Level 1 3 The following table presents the Company’s assets that are measured at fair value on a recurring basis for the periods presented: December 31, Level 1 Level 2 Level 3 Assets High interest savings account $ 2,989 $ - $ 2,989 - Commercial notes 6,235 - 6,235 - Canadian provincial promissory notes 5,493 - 5,493 - Guaranteed investment certificates, issued by a Canadian financial institution 81,243 - 81,243 - $ 95,960 $ - $ 95,960 $ - December 31, Level 1 Level 2 Level 3 Assets High interest savings account $ 496 $ - $ 496 $ - United States treasury bills 3,989 - 3,989 - Canadian provincial promissory notes 5,991 - 5,991 - Guaranteed investment certificates, Royal Bank of Canada 4,642 - 4,642 - $ 15,118 $ - $ 15,118 $ - |
Note 8 - Accrued Liabilities
Note 8 - Accrued Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 8. Accrued liabilities: Accrued liabilities as of December 31, 2019 December 31, 2018 December 31, December 31, Accrued personnel related costs $ 1,739 $ 955 Accrued research and development expenses 1,062 257 Other accrued expenses 257 262 $ 3,058 $ 1,474 |
Note 9 - Lease Liability
Note 9 - Lease Liability | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 9. Lease liability Aptose leases office space and lab space in San Diego, California. The lease for the office space expires on March 31, 2023 5 February 29, 2019, February 18, 2019 February 28, 2022. June 30, 2023 5 not Minimum payments, undiscounted, under our operating leases are as follows: Years ending December 31, 2020 $ 534 2021 545 2022 463 2023 119 Thereafter - $ 1,661 To calculate the lease liability, the lease payments in the table above were discounted over the remaining term of the leases using the Company’s incremental borrowing rate as at January 1, 2019 842, Year ended Weighted-average remaining term – operating leases (years) 3.3 Weighted-average discount rate – operating leases 5.43 % Lease liability, current portion 521 Lease liability, long term portion 1,011 Lease liability, total 1,532 Right-of-use assets obtained in exchange for new operating lease liabilities are as follows: Year ended Right-of-use assets recorded upon adoption of Topic 842, January 1, 2019 $ 1,570 Right-of-use assets obtained in exchange for new operating lease liabilities in the period $ 267 Operating lease costs and operating cash flows from our operating leases are as follows: Year ended Operating lease cost $ 551 Operating cash flows from operating leases $ 471 Comparable figures are not |
Note 10 - Share Capital
Note 10 - Share Capital | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 10. Share capital: The Company has authorized share capital of an unlimited number of common voting shares. (a) Equity issuances: (i) December 2019 On December 19, 2019, 18,543,750 $4.00 $74.175 $68.588 7% (ii) June 2019 On June 3, 2019, 11,500,000 $1.85 $21.275 $19.594 7% (iii) 2019 On May 7, 2019, 2019 $20 30 May 13, 2019, 171,428 2019 $360 May 7, 2019 December 16, 2019, 2019 1,800,000 $2.43 $4.37 (iv) 2018 On May 30, 2018, 2018 $20 30 June 8, 2018, 170,261 2018 $600 January 1, 2019 May 24, 2019, 2018 5,502,433 $1.82 $10 May 24, 2019, $11.9 2018 May 24, 2019, 6,409,980, (v) 2017 On October 27, 2017, 2017 $15,500,000 30 December 31, 2017, 357,143 $500 $324 321,429 December 31, 2018, 5,231,953 $2.87 $15 December 31, 2018, $15.5 (vi) 2019 On May 24, 2019, may, $40 May 24, 2019 December 16, 2019, not (vii) 2018 On March 27, 2018, may, $30 December 31, 2018, 4,085,615 $2.71 $11 $10.7 January 1, 2019 May 24, 2019, 77,349 $2.37 $183 $178 3% May 24, 2019, $11.2 $10.9 (b) Loss per share: Loss per common share is calculated using the weighted average number of common shares outstanding and is presented in the table below: (in thousands) Year ended Year ended Net loss $ (26,277 ) $ (28,868 ) Weighted-average common shares – basic and diluted 50,160 33,391 Net loss per share – basic and diluted $ (0.52 ) $ (0.86 ) The effect of any potential exercise of the Company’s stock options outstanding during the year has been excluded from the calculation of diluted loss per common share as it would be anti-dilutive. |
Note 11 - Stock-based Compensat
Note 11 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 11. Stock-based compensation: (a) Stock options Under the Company’s stock option plan, options, rights and other entitlements may 17.5% 13.3 December 31, 2019. four 10 Stock option transactions for the years ended December 31, 2018 2019 Option numbers are in (000’s) Options Year ended Weighted Aggregate Outstanding, December 31, 2017 2,344 $ 3.46 Granted 2,320 2.98 Exercised (114 ) 2.04 Expired (51 ) 2.34 Forfeited (10 ) 4.97 Outstanding, December 31, 2018 4,489 $ 3.11 Granted 2,160 2.00 Exercised (312 ) 2.32 Expired (67 ) 4.61 Forfeited (329 ) 2.36 Outstanding, December 31, 2019 5,941 2.84 7.6 16,866,623 Exercisable, December 31, 2019 3,057 3.44 6.5 6,853,978 Vested and expected to vest, December 31, 2109 5,508 2.89 7.5 15,364,726 Aggregate intrinsic value represents the excess of the value of the closing stock price on the previous trading day of the respective balance sheet dates over the exercise price of the stock options. Total intrinsic value of options exercised was $259 2019 2018 $255 As of December 31, 2019, $1.38 1.77 The following table presents the weighted average assumptions that were used in the Black-Scholes option pricing model to determine the fair value of stock options granted during the year, and the resultant weighted average fair values: Year ended Year ended Risk-free interest rate 2.18 % 2.43 % Expected dividend yield - - Expected volatility 83.9 % 93.3 % Expected life of options (years) 5 5 Grant date fair value $ 1.34 $ 2.22 The Company uses historical data to estimate the expected dividend yield and expected volatility of its common shares in determining the fair value of stock options. The expected life of the options represents the estimated length of time the options are expected to remain outstanding. Stock options granted by the Company during the year ended December 31, 2019, 50% one 16.67% three 160,000 50% one 25% two 335,000 100% one Stock options granted by the Company during the year ended December 30, 2018 50% one 16.67% three 166,000 50% one 25% two 850,000 (b) Restricted share units The Company has a stock incentive plan (SIP) pursuant to which the Board may one December 31, 2019 2018 Year ended, Year ended, Number Weighted Number Weighted Outstanding, December 31. 2018 - $ - - $ - Granted 80 2.00 150 3.35 Redeemed (40 ) 2.00 (150 ) 3.35 Outstanding, December 31, 2019 40 $ 2.00 - $ - On June 3, 2019, 80,000 40,000 three one September 3, 2019, 50% 40,000 On July 13, 2018, 150,000 three The grant date fair value of the June 3, 2019 July 13, 2018 (c) Share-based payment expense The Company recorded share-based payment expense related to stock options and RSUs as follows: Year ended Year ended Research and development $ 474 $ 1,026 General and administrative 1,822 3,250 Total $ 2,296 $ 4,276 |
Note 12 - Related Party Transac
Note 12 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 12. Related party transactions: The Company uses Moores Cancer Center at the University of California San Diego (UCSD) to provide pharmacology lab services to the Company. Dr. Stephen Howell is the Acting Chief Medical Officer of Aptose and is also a Professor of Medicine at UCSD and oversees the laboratory work. The work is completed under the terms of research services agreements executed in March 2015 March 2019, twelve $300,000. During the year ended December 31, 2019, $223 2018 $279 |
Note 13 - Collaborative Agreeme
Note 13 - Collaborative Agreements | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Collaborative Agreements [Text Block] | 13. Collaborative agreements: The Company enters into research, development and license agreements in the ordinary course of business where the Company receives research services and rights to proprietary technologies. Milestone and royalty payments that may Under the Company’s license agreement with CrystalGenomics for rights to CG- 806, $16 2 $44 may not On June 13, 2018, 806 $6 2 $20 may not On March 7, 2018, 581, two $125 |
Note 14 - Income Taxes
Note 14 - Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 14. Income taxes: (a) Recent tax legislation In December 2017 January 1, 2018, 35% 21%, 2017 2018, (b) Income taxes For the years ended December 31, 2018 2019, December 31, 2019 December 31, 2018 Loss attributed to US foreign operations $ (20,470 ) $ (21,807 ) Loss attributed to Canadian operations (5,807 ) (7,061 ) Income (loss) before income taxes (26,277 ) (28,868 ) (c) Tax rate reconciliation Major items causing the Company’s income tax rate to differ from the statutory rate of approximately 26.5% December 31, 2018 26.5% Year ended Year ended Net loss $ (26,277 ) $ (28,868 ) Statutory Canadian corporate tax rate 26.5 % 26.5 % Computed expected tax recovery $ (6,963 ) $ (7,650 ) Non-deductible permanent differences (1,305 ) 1,422 Change in valuation allowance 12,146 4,528 Foreign tax rate differential (286 ) (325 ) Foreign exchange differences - 2,183 Prior year true-up adjustments (3,563 ) - Other (29 ) (158 ) $ - $ - (d) Significant components of deferred taxes The tax effects of temporary differences that give rise to significant portions of the unrecognized deferred tax assets are presented below: December 31, 2019 December 31, 2018 Net operating losses carried forward $ 26,786 $ 19,567 Research and development expenditures 5,031 5,024 Property, equipment, and other intangible assets 4,191 4,161 Research and development tax credits 3,685 394 Financing costs 2,010 452 Right-of-use assets 41 - Total deferred tax assets 41,744 29,598 Valuation allowance (41,744 ) (29,598 ) Net deferred tax asset $ - $ - The valuation allowance at December 31, 2019 not not not not not not The Company has undeducted research and development expenditures, totaling $18.958 $4.113 2020, $0.557 2038. In addition, the Company has Canadian non-capital loss carryforwards of $97.127 not 2026. $0.586 not 2034. The Company files income tax returns with Canada and its provinces and territories. Generally we are subject to routine examinations by the Canada Revenue Agency ("CRA"). Income tax returns filed with various provincial jurisdictions are generally open to examination for periods of four five The Company also files income tax returns for our U.S. operations and subsidiary with the U.S. federal and state tax jurisdictions. Generally, we are subject to routine examination by taxing authorities in the U.S. jurisdictions. There are presently no |
Note 15 - Selected Quarterly Fi
Note 15 - Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 15. Selected quarterly financial data (unaudited): Selected financial data (unaudited) for the periods presented was as follows: March 31, June 30, September 30, December 31, Revenue $ - $ - $ - $ - Net loss (5,506 ) (6,218 ) (6,844 ) (7,709 ) Basic and diluted loss per common share (0.14 ) (0.13 ) (0.12 ) (0.13 ) March 31, June 30, September 30, December 31, Revenue $ - $ - $ - $ - Net loss (6,814 ) (10,262 ) (5,531 ) (6,261 ) Basic and diluted loss per common share (0.23 ) (0.30 ) (0.16 ) (0.17 ) |
Note 16 - Subsequent Events
Note 16 - Subsequent Events | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 16. Subsequent events (a) Subsequent to the year end, the Company issued 5,808,834 $6.82. 50% one 16.67% three 861,834 50% one 25% two (b) Subsequent to the year end, the Company issued 161,775 $2.68. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | (a) Basis of consolidation: These consolidated financial statements include the accounts of its subsidiaries. All intercompany transactions, balances, revenue and expenses are eliminated on consolidation. |
Basis of Accounting, Policy [Policy Text Block] | (b) Basis of presentation: These consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States, or GAAP and the rules and regulations of the Securities and Exchange Commission, or SEC, related to annual reports filed on Form 10 |
Use of Estimates, Policy [Policy Text Block] | (c) Significant accounting policies, estimates and judgments: The preparation of the consolidated financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting period. Actual outcomes could differ from those estimates. The consolidated financial statements include estimates, which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the consolidated financial statements and may The estimates and underlying assumptions are reviewed on a regular basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised and in any future periods affected. |
Lessee, Leases [Policy Text Block] | (d) Leases Effective January 1, 2019, No. 2016 02, 842 twelve Impact of adoption: As a result of adopting Topic 842, January 1, 2019, $1.570 $1.647 $78 |
Cash and Cash Equivalents, Policy [Policy Text Block] | (e) Cash and cash equivalents: Cash and cash equivalents are short-term highly liquid investments with original maturities of 90 |
Investment, Policy [Policy Text Block] | (f) Investments: Investments consist of time deposits with original maturities greater than 90 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | (g) Concentration of risk: The Company is subject to credit risk from the Company’s cash and cash equivalents and investments. The carrying amount of the financial assets represents the maximum credit exposure. The Company manages credit risk associated with its cash and cash equivalents and investments by maintaining minimum standards of R1 |
Property, Plant and Equipment, Policy [Policy Text Block] | (h) Property and equipment: Property and equipment is measured at cost less accumulated depreciation and accumulated impairment losses. Cost includes expenditures that are directly attributable to the acquisition of the asset. The Company records depreciation at rates that charge operations with the cost of the assets over their estimated useful lives on a straight-line basis as follows: Office furniture (years) 5 Laboratory equipment (years) 5 Computer hardware (years) 3 Computer software (years) 3 Leasehold improvements Life of lease The residual value, useful life and methods of depreciation of the assets are reviewed at each reporting period and adjusted prospectively if appropriate. |
Research and Development Expense, Policy [Policy Text Block] | (i) Research and development: Research and development (R&D) costs are expensed as incurred. R&D costs consist primarily of salaries and benefits, stock-based compensation, manufacturing, contract services, clinical trials, intangibles, and research related overhead. Non-refundable advance payments for goods and services that will be used in future research are recorded in prepaid and other assets and are expensed when the services are performed. |
Fair Value Measurement, Policy [Policy Text Block] | (j) Fair value: The Company measures its financial assets and liabilities at fair value. The carrying amounts for the Company’s financial instruments, including cash and cash equivalents, accounts payable and accrued liabilities approximate their fair value due to their short maturities. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. |
Share-based Payment Arrangement [Policy Text Block] | (k) Stock-based compensation: The Company has a stock-based compensation plan (the “Plan”) available to officers, directors, employees and consultants with grants under the Plan approved by the Company’s Board of Directors. Under the Plan, the exercise price of each option equals the closing trading price of the Company’s stock on the day prior to the grant if the grant is made during the trading day or the closing trading price on the day of grant if the grant is issued after markets have closed. Vesting is provided for at the discretion of the Board of Directors and the expiration of options is to be no 10 The Company uses the fair value based method of accounting for employee awards granted under the Plan. The Company calculates the fair value of each stock option grant using the Black-Scholes option pricing model at the grant date. The stock-based compensation cost of the options is recognized as stock-based compensation expense over the relevant vesting period of the stock options using an estimate of the number of options that will eventually vest. Stock options awarded to non-employees are accounted for at the fair value of the goods received or the services rendered. The fair value is measured at the grant date. In June 2018, No 2018 07, 718 December 15, 2018. not The Company has a stock incentive plan pursuant to which the Board may |
Segment Reporting, Policy [Policy Text Block] | (l) Segment reporting: Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker, or CODM. The Company’s Chief Executive Officer serves as its CODM. The Company views its operations and manages its business as one |
Earnings Per Share, Policy [Policy Text Block] | (m) Loss per share: Basic loss per share is computed by dividing the net loss available to common shareholders by the weighted average number of shares outstanding during the year. Diluted loss per share is computed similarly to basic loss per share except that the weighted average share outstanding is increased to include additional shares for the assumed exercise of stock options and warrants, if dilutive. The number of additional shares is calculated by assuming that outstanding stock options and warrants were exercised and that the proceeds from such exercises were used to acquire common stock at the average market price during the year. The inclusion of the Company’s stock options and warrants in the computation of diluted loss per share has an anti-dilutive effect on the loss per share and, therefore, they have been excluded from the calculation of diluted loss per share. |
Income Tax, Policy [Policy Text Block] | (n) Income taxes: The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which these temporary differences are expected to be recovered or settled. Valuation allowances are provided if, based on the weight of available evidence, it is more likely than not not The Company provides reserves for potential payments of tax to various tax authorities related to uncertain tax positions and other issues. Reserves are based on a determination of whether and how much of a tax benefit taken by the Company in its tax filing is more likely than not December 31, 2019 December 31, 2018, not not |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment, Useful Life [Table Text Block] | Office furniture (years) 5 Laboratory equipment (years) 5 Computer hardware (years) 3 Computer software (years) 3 Leasehold improvements Life of lease |
Note 4 - Property and Equipme_2
Note 4 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2019 Cost Accumulated Net book value Laboratory equipment $ 185 $ 160 $ 25 Computer hardware 122 60 62 Computer software 222 128 94 Office furniture 116 51 65 Leasehold improvements 177 89 88 $ 822 $ 488 $ 334 December 31, 2018 Cost Accumulated Net book value Laboratory equipment $ 176 $ 129 $ 47 Computer hardware 80 40 40 Computer software 222 80 142 Office furniture 82 28 54 Leasehold improvements 160 59 101 $ 720 $ 336 $ 384 |
Note 5 - Right of-use Assets,_2
Note 5 - Right of-use Assets, Operating Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Right-of-use Assets [Table Text Block] | Year ended Year ended Right-of-use assets, January 1, 2019 $ 1,570 - Additions to right-of-use assets 267 - Right-of-use assets, December 31, 2019 1,837 - Accumulated amortization (461 ) - Right-of use assets, NBV 1,376 - |
Note 6 - Investments (Tables)
Note 6 - Investments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Investment [Table Text Block] | December 31, 2019 Cost Unrealized Market Guaranteed investment certificate(s) 12,008 18 12,026 Commercial notes 3,736 - 3,736 Canadian promissory note 1,996 - 1,996 17,740 18 17,758 December 31, 2018 Cost Unrealized Market Guaranteed investment certificate(s) 440 - 440 |
Note 7 - Fair Value Measureme_2
Note 7 - Fair Value Measurements and Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | December 31, Level 1 Level 2 Level 3 Assets High interest savings account $ 2,989 $ - $ 2,989 - Commercial notes 6,235 - 6,235 - Canadian provincial promissory notes 5,493 - 5,493 - Guaranteed investment certificates, issued by a Canadian financial institution 81,243 - 81,243 - $ 95,960 $ - $ 95,960 $ - December 31, Level 1 Level 2 Level 3 Assets High interest savings account $ 496 $ - $ 496 $ - United States treasury bills 3,989 - 3,989 - Canadian provincial promissory notes 5,991 - 5,991 - Guaranteed investment certificates, Royal Bank of Canada 4,642 - 4,642 - $ 15,118 $ - $ 15,118 $ - |
Note 8 - Accrued Liabilities (T
Note 8 - Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, December 31, Accrued personnel related costs $ 1,739 $ 955 Accrued research and development expenses 1,062 257 Other accrued expenses 257 262 $ 3,058 $ 1,474 |
Note 9 - Lease Liability (Table
Note 9 - Lease Liability (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Years ending December 31, 2020 $ 534 2021 545 2022 463 2023 119 Thereafter - $ 1,661 |
Lessee, Operating Lease Liability and Weighted Average [Table Text Block] | Year ended Weighted-average remaining term – operating leases (years) 3.3 Weighted-average discount rate – operating leases 5.43 % Lease liability, current portion 521 Lease liability, long term portion 1,011 Lease liability, total 1,532 |
Schedule of Right-of-use Asset Obtained in Exchange For Operating Lease Liability [Table Text Block] | Year ended Right-of-use assets recorded upon adoption of Topic 842, January 1, 2019 $ 1,570 Right-of-use assets obtained in exchange for new operating lease liabilities in the period $ 267 |
Lease, Cost [Table Text Block] | Year ended Operating lease cost $ 551 Operating cash flows from operating leases $ 471 |
Note 10 - Share Capital (Tables
Note 10 - Share Capital (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | (in thousands) Year ended Year ended Net loss $ (26,277 ) $ (28,868 ) Weighted-average common shares – basic and diluted 50,160 33,391 Net loss per share – basic and diluted $ (0.52 ) $ (0.86 ) |
Note 11 - Stock-based Compens_2
Note 11 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Option numbers are in (000’s) Options Year ended Weighted Aggregate Outstanding, December 31, 2017 2,344 $ 3.46 Granted 2,320 2.98 Exercised (114 ) 2.04 Expired (51 ) 2.34 Forfeited (10 ) 4.97 Outstanding, December 31, 2018 4,489 $ 3.11 Granted 2,160 2.00 Exercised (312 ) 2.32 Expired (67 ) 4.61 Forfeited (329 ) 2.36 Outstanding, December 31, 2019 5,941 2.84 7.6 16,866,623 Exercisable, December 31, 2019 3,057 3.44 6.5 6,853,978 Vested and expected to vest, December 31, 2109 5,508 2.89 7.5 15,364,726 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year ended Year ended Risk-free interest rate 2.18 % 2.43 % Expected dividend yield - - Expected volatility 83.9 % 93.3 % Expected life of options (years) 5 5 Grant date fair value $ 1.34 $ 2.22 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Year ended, Year ended, Number Weighted Number Weighted Outstanding, December 31. 2018 - $ - - $ - Granted 80 2.00 150 3.35 Redeemed (40 ) 2.00 (150 ) 3.35 Outstanding, December 31, 2019 40 $ 2.00 - $ - |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year ended Year ended Research and development $ 474 $ 1,026 General and administrative 1,822 3,250 Total $ 2,296 $ 4,276 |
Note 14 - Income Taxes (Tables)
Note 14 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | December 31, 2019 December 31, 2018 Loss attributed to US foreign operations $ (20,470 ) $ (21,807 ) Loss attributed to Canadian operations (5,807 ) (7,061 ) Income (loss) before income taxes (26,277 ) (28,868 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year ended Year ended Net loss $ (26,277 ) $ (28,868 ) Statutory Canadian corporate tax rate 26.5 % 26.5 % Computed expected tax recovery $ (6,963 ) $ (7,650 ) Non-deductible permanent differences (1,305 ) 1,422 Change in valuation allowance 12,146 4,528 Foreign tax rate differential (286 ) (325 ) Foreign exchange differences - 2,183 Prior year true-up adjustments (3,563 ) - Other (29 ) (158 ) $ - $ - |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2019 December 31, 2018 Net operating losses carried forward $ 26,786 $ 19,567 Research and development expenditures 5,031 5,024 Property, equipment, and other intangible assets 4,191 4,161 Research and development tax credits 3,685 394 Financing costs 2,010 452 Right-of-use assets 41 - Total deferred tax assets 41,744 29,598 Valuation allowance (41,744 ) (29,598 ) Net deferred tax asset $ - $ - |
Note 15 - Selected Quarterly _2
Note 15 - Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | March 31, June 30, September 30, December 31, Revenue $ - $ - $ - $ - Net loss (5,506 ) (6,218 ) (6,844 ) (7,709 ) Basic and diluted loss per common share (0.14 ) (0.13 ) (0.12 ) (0.13 ) March 31, June 30, September 30, December 31, Revenue $ - $ - $ - $ - Net loss (6,814 ) (10,262 ) (5,531 ) (6,261 ) Basic and diluted loss per common share (0.23 ) (0.30 ) (0.16 ) (0.17 ) |
Note 1 - Reporting Entity (Deta
Note 1 - Reporting Entity (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($)shares | |
Stock Issued During Period, Shares, New Issues | shares | 30,043,750 |
Proceeds from Issuance of Common Stock, Gross | $ 95,450 |
Proceeds from Issuance of Common Stock, Net of Share Issuance Costs | $ 88,180 |
Aspire [Member] | |
Stock Issued During Period, Shares, New Issues | shares | 7,302,433 |
Proceeds from Issuance of Common Stock, Gross | $ 14,400 |
Proceeds from Issuance of Common Stock, Net of Share Issuance Costs | $ 14,400 |
Note 2 - Significant Accounti_3
Note 2 - Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Jan. 01, 2018 | |
Operating Lease, Right-of-Use Asset | $ 1,376 | $ 1,570 | ||
Operating Lease, Liability, Total | $ 1,532 | 1,647 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||
Accounting Standards Update 2016-02 [Member] | ||||
Landlord Inducements | $ (78) |
Note 2 - Significant Accounti_4
Note 2 - Significant Accounting Policies - Property, Plant and Equipment Useful Life (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Furniture and Fixtures [Member] | |
Property, plant and equipment, useful life (Year) | 5 years |
Laboratory Equipment [Member] | |
Property, plant and equipment, useful life (Year) | 5 years |
Computer Equipment [Member] | |
Property, plant and equipment, useful life (Year) | 3 years |
Software and Software Development Costs [Member] | |
Property, plant and equipment, useful life (Year) | 3 years |
Leasehold Improvements [Member] | |
Property, plant and equipment, estimated useful life | Life of lease |
Note 3 - Cash and Cash Equiva_2
Note 3 - Cash and Cash Equivalents (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Cash, Ending Balance | $ 1,640 | $ 621 |
Cash Equivalents, at Carrying Value, Total | $ 78,202 | $ 14,678 |
Note 4 - Property and Equipme_3
Note 4 - Property and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Property, plant and equipment, gross | $ 822 | $ 720 |
Accumulated depreciation | 488 | 336 |
Property, plant and equipment, net | 334 | 384 |
Laboratory Equipment [Member] | ||
Property, plant and equipment, gross | 185 | 176 |
Accumulated depreciation | 160 | 129 |
Property, plant and equipment, net | 25 | 47 |
Computer Equipment [Member] | ||
Property, plant and equipment, gross | 122 | 80 |
Accumulated depreciation | 60 | 40 |
Property, plant and equipment, net | 62 | 40 |
Software and Software Development Costs [Member] | ||
Property, plant and equipment, gross | 222 | 222 |
Accumulated depreciation | 128 | 80 |
Property, plant and equipment, net | 94 | 142 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | 116 | 82 |
Accumulated depreciation | 51 | 28 |
Property, plant and equipment, net | 65 | 54 |
Leasehold Improvements [Member] | ||
Property, plant and equipment, gross | 177 | 160 |
Accumulated depreciation | 89 | 59 |
Property, plant and equipment, net | $ 88 | $ 101 |
Note 5 - Right of-use Assets,_3
Note 5 - Right of-use Assets, Operating Leases - Schedule of Right-of-use Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2019 | Jan. 01, 2018 | |
Right-of-use assets, operating leases | $ 1,376 | $ 1,570 | ||
Additions to right-of-use assets | 267 | |||
Right-of-use assets before Accumulated amortization | 1,837 | |||
Accumulated amortization | (461) | |||
Right-of use assets | $ 1,376 | $ 1,570 |
Note 6 - Investments - Investme
Note 6 - Investments - Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Investment, Cost | $ 17,740 | |
Investment, Unrealized gain/(loss) | 18 | |
Investment, Market value | 17,758 | |
Investments [Member] | ||
Investment, Cost | 12,008 | $ 440 |
Investment, Unrealized gain/(loss) | 18 | |
Investment, Market value | 12,026 | $ 440 |
Corporate Debt Securities [Member] | ||
Investment, Cost | 3,736 | |
Investment, Unrealized gain/(loss) | ||
Investment, Market value | 3,736 | |
Canadian Provincial Promissory Notes [Member] | ||
Investment, Cost | 1,996 | |
Investment, Unrealized gain/(loss) | ||
Investment, Market value | $ 1,996 |
Note 7 - Fair Value Measureme_3
Note 7 - Fair Value Measurements and Financial Instruments - Assets Measured on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Assets, fair value | $ 95,960 | $ 15,118 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | ||
Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 95,960 | 15,118 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | ||
Bank Time Deposits [Member] | ||
Assets, fair value | 2,989 | 496 |
Bank Time Deposits [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | ||
Bank Time Deposits [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 2,989 | 496 |
Bank Time Deposits [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | ||
Corporate Debt Securities [Member] | ||
Assets, fair value | 6,235 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | ||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 6,235 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | ||
US Treasury Securities [Member] | ||
Assets, fair value | 3,989 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | ||
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 3,989 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | ||
Canadian Provincial Promissory Notes [Member] | ||
Assets, fair value | 5,493 | 5,991 |
Canadian Provincial Promissory Notes [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | ||
Canadian Provincial Promissory Notes [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 5,493 | 5,991 |
Canadian Provincial Promissory Notes [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | ||
Investments [Member] | ||
Assets, fair value | 81,243 | 4,642 |
Investments [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | ||
Investments [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 81,243 | 4,642 |
Investments [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value |
Note 8 - Accrued Liabilities -
Note 8 - Accrued Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Accrued personnel related costs | $ 1,739 | $ 955 |
Accrued research and development expenses | 1,062 | 257 |
Other accrued expenses | 257 | 262 |
$ 3,058 | $ 1,474 |
Note 9 - Lease Liability (Detai
Note 9 - Lease Liability (Details Textual) | Dec. 31, 2019 |
Lessee, Operating Lease, Renewal Term | 5 years |
Note 9 - Lease Liability - Sche
Note 9 - Lease Liability - Schedule of Minimum Payments Under Operating Leases (Details) $ in Thousands | Dec. 31, 2019USD ($) |
2020 | $ 534 |
2021 | 545 |
2022 | 463 |
2023 | 119 |
Thereafter | |
$ 1,661 |
Note 9 - Lease Liability - Leas
Note 9 - Lease Liability - Lease Liability (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Weighted-average remaining term – operating leases (Year) | 3 years 109 days | ||
Weighted-average discount rate – operating leases | 5.43% | ||
Lease liability, current portion | $ 521 | ||
Lease liability, long term portion | 1,011 | ||
Operating Lease, Liability, Total | $ 1,532 | $ 1,647 |
Note 9 - Lease Liability - Sc_2
Note 9 - Lease Liability - Schedule of Right-of-use Asset Obtained in Exchange for Operating Lease Liability (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2019 | Jan. 01, 2018 | |
Operating Lease, Right-of-Use Asset | $ 1,376 | $ 1,570 | ||
Right-of-use assets obtained in exchange for new operating lease liabilities in the period | $ 267 |
Note 9 - Lease Liability - Oper
Note 9 - Lease Liability - Operating Lease Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Operating lease cost | $ 551 | |
Operating cash flows from operating leases | $ 471 |
Note 10 - Share Capital (Detail
Note 10 - Share Capital (Details Textual) - USD ($) | Dec. 19, 2019 | Jun. 03, 2019 | May 24, 2019 | May 13, 2019 | Jun. 08, 2018 | May 24, 2019 | Dec. 16, 2019 | Dec. 31, 2019 | May 24, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | May 24, 2019 | Dec. 31, 2019 | May 07, 2019 | May 30, 2018 | Mar. 27, 2018 | Oct. 27, 2017 |
Stock Issued During Period, Shares, New Issues | 30,043,750 | ||||||||||||||||
Proceeds from Issuance of Common Stock, Gross | $ 95,450,000 | ||||||||||||||||
Proceeds from Issuance of Common Stock, Net of Share Issuance Costs | 88,180,000 | ||||||||||||||||
December 2019 Public Offering [Member] | |||||||||||||||||
Stock Issued During Period, Shares, New Issues | 18,543,750 | ||||||||||||||||
Shares Issued, Price Per Share | $ 4 | ||||||||||||||||
Proceeds from Issuance of Common Stock, Gross | $ 74,175,000 | ||||||||||||||||
Proceeds from Issuance of Common Stock, Net of Share Issuance Costs | $ 68,588,000 | ||||||||||||||||
Stock Issuance, Percent of Cash Commission to Broker | 7.00% | ||||||||||||||||
Stock Issued During Period, Value, New Issues | 68,588,000 | ||||||||||||||||
Proceeds from Issuance of Common Stock | 68,883,000 | ||||||||||||||||
June 2019 Public Offering [Member] | |||||||||||||||||
Stock Issued During Period, Shares, New Issues | 11,500,000 | ||||||||||||||||
Shares Issued, Price Per Share | $ 1.85 | ||||||||||||||||
Proceeds from Issuance of Common Stock, Gross | $ 21,275,000 | ||||||||||||||||
Proceeds from Issuance of Common Stock, Net of Share Issuance Costs | $ 19,594,000 | ||||||||||||||||
Stock Issuance, Percent of Cash Commission to Broker | 7.00% | ||||||||||||||||
Stock Issued During Period, Value, New Issues | 19,594,000 | ||||||||||||||||
Proceeds from Issuance of Common Stock | 19,736,000 | ||||||||||||||||
The 2019 Share Purchase Agreement [Member] | |||||||||||||||||
Stock Issued During Period, Shares, New Issues | 171,428 | 1,800,000 | |||||||||||||||
Shares Issued, Price Per Share | $ 2.43 | ||||||||||||||||
Proceeds from Issuance of Common Stock, Gross | $ 4,370,000 | ||||||||||||||||
Stock Issuance Program, Authorized Amount | $ 20,000,000 | ||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 360,000 | 4,730,000 | |||||||||||||||
Proceeds from Issuance of Common Stock | $ 4,370,000 | 4,370,000 | |||||||||||||||
The 2018 Purchase Agreement [Member] | |||||||||||||||||
Stock Issued During Period, Shares, New Issues | 170,261 | 5,502,433 | 6,409,980 | ||||||||||||||
Shares Issued, Price Per Share | $ 1.82 | $ 1.82 | $ 1.82 | $ 1.82 | |||||||||||||
Proceeds from Issuance of Common Stock, Gross | $ 10,000,000 | $ 11,900,000 | |||||||||||||||
Stock Issuance Program, Authorized Amount | $ 20,000,000 | ||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 600,000 | 10,000,000 | 2,526,000 | ||||||||||||||
Proceeds from Issuance of Common Stock | 10,000,000 | 10,000,000 | 11,900,000 | $ 1,926,000 | |||||||||||||
The 2017 Purchase Agreement [Member] | |||||||||||||||||
Stock Issued During Period, Shares, New Issues | 5,231,953 | 357,143 | |||||||||||||||
Shares Issued, Price Per Share | $ 2.87 | ||||||||||||||||
Proceeds from Issuance of Common Stock, Gross | $ 15,000,000 | ||||||||||||||||
Stock Issuance Program, Authorized Amount | $ 15,500,000 | ||||||||||||||||
Stock Issued During Period, Value, New Issues | 14,995,000 | ||||||||||||||||
Proceeds from Issuance of Common Stock | 15,000,000 | ||||||||||||||||
Proceeds from Issuance of Private Placement, Gross | $ 500,000 | ||||||||||||||||
Proceeds from Issuance of Private Placement | $ 15,000,000 | $ 324,000 | $ 15,500,000 | ||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 321,429 | ||||||||||||||||
The 2019 ATM Offering [Member] | |||||||||||||||||
Stock Issued During Period, Shares, New Issues | 0 | ||||||||||||||||
Stock Issuance Program, Authorized Amount | $ 40,000,000 | $ 40,000,000 | $ 40,000,000 | $ 40,000,000 | |||||||||||||
The 2018 ATM Offering [Member] | |||||||||||||||||
Stock Issued During Period, Shares, New Issues | 77,349 | 4,085,615 | |||||||||||||||
Shares Issued, Price Per Share | $ 2.37 | $ 2.37 | $ 2.37 | $ 2.71 | $ 2.37 | ||||||||||||
Proceeds from Issuance of Common Stock, Gross | $ 183,000 | $ 11,000,000 | $ 11,200,000 | ||||||||||||||
Stock Issuance, Percent of Cash Commission to Broker | 3.00% | 3.00% | 3.00% | 3.00% | |||||||||||||
Stock Issuance Program, Authorized Amount | $ 30,000,000 | ||||||||||||||||
Stock Issued During Period, Value, New Issues | 178,000 | 10,710,000 | |||||||||||||||
Proceeds from Issuance of Common Stock | $ 178,000 | $ 178,000 | $ 10,720,000 | $ 10,900,000 |
Note 10 - Share Capital - Loss
Note 10 - Share Capital - Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net loss | $ (7,709) | $ (6,844) | $ (6,218) | $ (5,506) | $ (6,261) | $ (5,531) | $ (10,262) | $ (6,814) | $ (26,277) | $ (28,868) |
Weighted-average common shares – basic and diluted (in shares) | 50,160 | 33,391 | ||||||||
Net loss per share – basic and diluted (in dollars per share) | $ (0.13) | $ (0.12) | $ (0.13) | $ (0.14) | $ (0.17) | $ (0.16) | $ (0.30) | $ (0.23) | $ (0.52) | $ (0.86) |
Note 11 - Stock-based Compens_3
Note 11 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands | Sep. 03, 2019 | Jun. 03, 2019 | Jul. 13, 2018 | Dec. 31, 2019 | Dec. 31, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Subscription Rate | 17.50% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares | 13,300,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 259 | $ 255 | |||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 1,380 | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 281 days | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,160,000 | 2,320,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 80,000 | 150,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 40,000 | 150,000 | |||
Employee Stock Option Vesting Schedule I [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 160,000 | 166,000 | |||
Employee Stock Option Vesting Schedule II [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 100.00% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 335,000 | 850,000 | |||
Restricted Stock Units (RSUs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 90 days | ||||
Stock Redemption, Shares Per Share | 1 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 80,000 | 150,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 40,000 | ||||
Share-based Payment Arrangement, Tranche One [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||
Share-based Payment Arrangement, Tranche One [Member] | Employee Stock Option Vesting Schedule I [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | 50.00% | |||
Share-based Payment Arrangement, Tranche One [Member] | Restricted Stock Units (RSUs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 90 days | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 40,000 | ||||
Share-based Payment Arrangement, Tranche Two [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 16.67% | 16.67% | |||
Share-based Payment Arrangement, Tranche Two [Member] | Employee Stock Option Vesting Schedule I [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | 25.00% | |||
Share-based Payment Arrangement, Tranche Two [Member] | Restricted Stock Units (RSUs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||
Share-based Payment Arrangement, Tranche Three [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 16.67% | 16.67% | |||
Share-based Payment Arrangement, Tranche Three [Member] | Employee Stock Option Vesting Schedule I [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | 25.00% | |||
Share-based Compensation Award, Tranche Four [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 16.67% | 16.67% |
Note 11 - Stock-based Compens_4
Note 11 - Stock-based Compensation - Stock Option Transactions (Details) - USD ($) $ / shares in Units, shares in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Outstanding (in shares) | 4,489 | 2,344 |
Outstanding, weighted average exercise price (in dollars per share) | $ 3.11 | $ 3.46 |
Granted (in shares) | 2,160 | 2,320 |
Granted, weighted average exercise price (in dollars per share) | $ 2 | $ 2.98 |
Exercised (in shares) | (312) | (114) |
Exercised, weighted average exercise price (in dollars per share) | $ 2.32 | $ 2.04 |
Expired (in shares) | (67) | (51) |
Expired, weighted average exercise price (in dollars per share) | $ 4.61 | $ 2.34 |
Forfeited (in shares) | (329) | (10) |
Forfeited, weighted average exercise price (in dollars per share) | $ 2.36 | $ 4.97 |
Outstanding (in shares) | 5,941 | 4,489 |
Outstanding, weighted average exercise price (in dollars per share) | $ 2.84 | $ 3.11 |
Outstanding, weighted average remaining contractual life (Year) | 7 years 219 days | |
Outstanding, aggregate intrinsic value | $ 16,866,623 | |
Exercisable (in shares) | 3,057 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 3.44 | |
Exercisable, weighted average remaining contractual life (Year) | 6 years 182 days | |
Exercisable, aggregate intrinsic value | $ 6,853,978 | |
Vested and expected to vest (in shares) | 5,508 | |
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ 2.89 | |
Vested and expected to vest, weighted average remaining contractual life (Year) | 7 years 182 days | |
Vested and expected to vest, aggregate intrinsic value | $ 15,364,726 |
Note 11 - Stock-based Compens_5
Note 11 - Stock-based Compensation - Weighted Average Assumptions (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Risk-free interest rate | 2.18% | 2.43% |
Expected dividend yield | ||
Expected volatility | 83.90% | 93.30% |
Expected life of options (Year) | 5 years | 5 years |
Grant date fair value (in dollars per share) | $ 1.34 | $ 2.22 |
Note 11 - Stock-based Compens_6
Note 11 - Stock-based Compensation - Restricted Stock Units (Details) - $ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Outstanding, balance (in shares) | |||
Outstanding, weighted average grant date fair value (in dollars per share) | $ 2 | ||
Granted (in shares) | 80 | 150 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 2 | $ 3.35 | |
Redeemed (in shares) | (40) | (150) | |
Redeemed, weighted average grant date fair value (in dollars per share) | $ 2 | $ 3.35 | |
Outstanding, balance (in shares) | 40 |
Note 11 - Stock-based Compens_7
Note 11 - Stock-based Compensation - Share-based Payment Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based payment expense | $ 2,296 | $ 4,276 |
Research and Development Expense [Member] | ||
Share-based payment expense | 474 | 1,026 |
General and Administrative Expense [Member] | ||
Share-based payment expense | $ 1,822 | $ 3,250 |
Note 12 - Related Party Trans_2
Note 12 - Related Party Transactions (Details Textual) - Moores Cancer Center at University of California San Diego [Member] - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | |
Extension for Services Agreement, Amount, Related Parties | $ 300,000 | ||
Research and Development Expense, Related Party [Member] | |||
Related Party Transaction, Amounts of Transaction | $ 223,000 | $ 279,000 |
Note 13 - Collaborative Agree_2
Note 13 - Collaborative Agreements (Details Textual) - USD ($) $ in Millions | Dec. 31, 2019 | Jun. 13, 2018 | Mar. 07, 2018 |
CrystalGenomics [Member] | |||
Collaborative Agreement, Milestone Payment | $ 16 | ||
Collaborative Agreement, Regulatory Milestone | $ 44 | ||
CrystalGenomics [Member] | Exclusive License to CG806 in China, Development Milestones [Member] | |||
Collaborative Agreement, Regulatory Milestone | $ 6 | ||
CrystalGenomics [Member] | Exclusive License to CG806 in China, Regulatory Milestones [Member] | |||
Collaborative Agreement, Regulatory Milestone | $ 20 | ||
Ohm Oncology [Member] | |||
Collaborative Agreements, Potential Additional Milestone Payments Receivable | $ 125 |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 26.50% | 26.50% |
Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | ||
Operating Loss Carryforwards, Total | $ 97,127 | |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Operating Loss Carryforwards, Total | 586 | |
Research Tax Credit Carryforward [Member] | ||
Tax Credit Carryforward, Amount | 18,958 | |
Research Tax Credit Carryforward [Member] | Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Tax Credit Carryforward, Amount | 557 | |
Investment Tax Credit Carryforward [Member] | Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | ||
Tax Credit Carryforward, Amount | $ 4,113 |
Note 14 - Income Taxes - Net Lo
Note 14 - Income Taxes - Net Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Loss attributed to US foreign operations | $ (20,470) | $ (21,807) | ||||||||
Loss attributed to Canadian operations | (5,807) | (7,061) | ||||||||
Net loss | $ (7,709) | $ (6,844) | $ (6,218) | $ (5,506) | $ (6,261) | $ (5,531) | $ (10,262) | $ (6,814) | $ (26,277) | $ (28,868) |
Note 14 - Income Taxes - Provis
Note 14 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net loss | $ (7,709) | $ (6,844) | $ (6,218) | $ (5,506) | $ (6,261) | $ (5,531) | $ (10,262) | $ (6,814) | $ (26,277) | $ (28,868) |
Statutory Canadian corporate tax rate | 26.50% | 26.50% | ||||||||
Computed expected tax recovery | $ (6,963) | $ (7,650) | ||||||||
Non-deductible permanent differences | (1,305) | 1,422 | ||||||||
Change in valuation allowance | 12,146 | 4,528 | ||||||||
Foreign tax rate differential | (286) | (325) | ||||||||
Foreign exchange differences | 2,183 | |||||||||
Prior year true-up adjustments | (3,563) | |||||||||
Other | $ (29) | $ (158) |
Note 14 - Income Taxes - Deferr
Note 14 - Income Taxes - Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Net operating losses carried forward | $ 26,786 | $ 19,567 |
Research and development expenditures | 5,031 | 5,024 |
Property, equipment, and other intangible assets | 4,191 | 4,161 |
Research and development tax credits | 3,685 | 394 |
Financing costs | 2,010 | 452 |
Right-of-use assets | 41 | |
Total deferred tax assets | 41,744 | 29,598 |
Valuation allowance | (41,744) | (29,598) |
Net deferred tax asset |
Note 15 - Selected Quarterly _3
Note 15 - Selected Quarterly Financial Data (Unaudited) - Quarterly Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue | ||||||||||
Net loss | $ (7,709) | $ (6,844) | $ (6,218) | $ (5,506) | $ (6,261) | $ (5,531) | $ (10,262) | $ (6,814) | $ (26,277) | $ (28,868) |
Basic and diluted loss per common share (in dollars per share) | $ (0.13) | $ (0.12) | $ (0.13) | $ (0.14) | $ (0.17) | $ (0.16) | $ (0.30) | $ (0.23) | $ (0.52) | $ (0.86) |
Note 16 - Subsequent Events (De
Note 16 - Subsequent Events (Details Textual) - $ / shares | Mar. 10, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,160,000 | 2,320,000 | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 2 | $ 2.98 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 312,000 | 114,000 | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 2.32 | $ 2.04 | |
Employee Stock Option Vesting Schedule I [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 160,000 | 166,000 | |
Employee Stock Option Vesting Schedule II [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 335,000 | 850,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 100.00% | ||
Share-based Payment Arrangement, Tranche One [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||
Share-based Payment Arrangement, Tranche One [Member] | Employee Stock Option Vesting Schedule I [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | 50.00% | |
Share-based Payment Arrangement, Tranche Two [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 16.67% | 16.67% | |
Share-based Payment Arrangement, Tranche Two [Member] | Employee Stock Option Vesting Schedule I [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | 25.00% | |
Share-based Payment Arrangement, Tranche Three [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 16.67% | 16.67% | |
Share-based Payment Arrangement, Tranche Three [Member] | Employee Stock Option Vesting Schedule I [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | 25.00% | |
Share-based Compensation Award, Tranche Four [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 16.67% | 16.67% | |
Subsequent Event [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 5,808,834 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 6.82 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 161,775 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 2.68 | ||
Subsequent Event [Member] | Employee Stock Option Vesting Schedule II [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 861,834 | ||
Subsequent Event [Member] | Share-based Payment Arrangement, Tranche One [Member] | Employee Stock Option Vesting Schedule I [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||
Subsequent Event [Member] | Share-based Payment Arrangement, Tranche One [Member] | Employee Stock Option Vesting Schedule II [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||
Subsequent Event [Member] | Share-based Payment Arrangement, Tranche Two [Member] | Employee Stock Option Vesting Schedule I [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 16.67% | ||
Subsequent Event [Member] | Share-based Payment Arrangement, Tranche Two [Member] | Employee Stock Option Vesting Schedule II [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ||
Subsequent Event [Member] | Share-based Payment Arrangement, Tranche Three [Member] | Employee Stock Option Vesting Schedule I [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 16.67% | ||
Subsequent Event [Member] | Share-based Payment Arrangement, Tranche Three [Member] | Employee Stock Option Vesting Schedule II [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ||
Subsequent Event [Member] | Share-based Compensation Award, Tranche Four [Member] | Employee Stock Option Vesting Schedule I [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 16.67% |