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APTO Aptose Biosciences

Document And Entity Information

Document And Entity Information - shares9 Months Ended
Sep. 30, 2020Nov. 10, 2020
Document Information [Line Items]
Entity Registrant NameAptose Biosciences Inc.
Entity Central Index Key0000882361
Trading Symbolapto
Current Fiscal Year End Date--12-31
Entity Filer CategoryNon-accelerated Filer
Entity Current Reporting StatusYes
Entity Emerging Growth Companytrue
Entity Ex Transition Periodtrue
Entity Small Businesstrue
Entity Interactive Data CurrentYes
Entity Common Stock, Shares Outstanding (in shares)88,861,737
Entity Shell Companyfalse
Document Type10-Q
Document Period End DateSep. 30,
2020
Document Fiscal Year Focus2020
Document Fiscal Period FocusQ3
Amendment Flagfalse
Title of 12(b) SecurityCommon Shares, no par value

Condensed Consolidated Interim

Condensed Consolidated Interim Statements of Financial Position (Current Period Unaudited) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Current assets:
Cash and cash equivalents $ 99,727 $ 79,842
Investments32,997 17,758
Prepaid expenses1,106 1,025
Other current assets115 141
Total current assets133,945 98,766
Non-current assets:
Property and equipment272 334
Right-of-use assets, operating leases1,041 1,376
Total non-current assets1,313 1,710
Total assets135,258 100,476
Current liabilities:
Accounts payable1,529 1,960
Accrued liabilities3,378 3,058
Current portion of lease liability, operating leases537 521
Total current liabilities5,444 5,539
Non-current liabilities:
Lease liability, operating leases658 1,011
Total liabilities6,102 6,550
Shareholders’ equity:
Common shares, no par value, unlimited authorized shares, 88,861,737 and 76,108,031 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively429,457 365,490
Additional paid-in capital46,454 34,649
Accumulated other comprehensive loss(4,315)(4,298)
Deficit(342,440)(301,915)
Total shareholders’ equity129,156 93,926
Total liabilities and shareholders’ equity $ 135,258 $ 100,476

Condensed Consolidated Interi_2

Condensed Consolidated Interim Statements of Financial Position (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in ThousandsSep. 30, 2020Dec. 31, 2019
Common shares, no par value (in dollars per share) $ 0 $ 0
Common shares, issued (in shares)88,861,737 76,108,031
Common shares, outstanding (in shares)88,861,737 76,108,031

Condensed Consolidated Interi_3

Condensed Consolidated Interim Statement of Loss and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Revenue
Expenses:
Research and development7,519 4,751 20,319 11,582
General and administrative5,775 2,276 20,690 7,391
Operating expenses13,294 7,027 41,009 18,973
Other income (expense):
Interest income46 187 485 407
Foreign exchange losses(1)(4)(1)(2)
Total other income45 183 484 405
Net loss(13,249)(6,844)(40,525)(18,568)
Other comprehensive gain/(loss):
Unrealized gain/(loss) on securities available-for-sale(2)(5)(17)13
Total comprehensive loss $ (13,251) $ (6,849) $ (40,542) $ (18,555)
Basic and diluted loss per common share (in dollars per share) $ (0.15) $ (0.12) $ (0.51) $ (0.39)
Weighted average number of common shares outstanding used in the calculation of basic and diluted loss per common share (in thousands) (in shares)85,860 55,454 79,477 47,315

Condensed Consolidated Interi_4

Condensed Consolidated Interim Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in ThousandsPublic Offering [Member]Common Stock [Member]Public Offering [Member]Additional Paid-in Capital [Member]Public Offering [Member]AOCI Attributable to Parent [Member]Public Offering [Member]Retained Earnings [Member]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]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]Common Stock [Member]Additional Paid-in Capital [Member]AOCI Attributable to Parent [Member]Retained Earnings [Member]Total
Balance (in shares) at Dec. 31, 201838,162,000
Balance at Dec. 31, 2018 $ 261,072 $ 32,963 $ (4,316) $ (275,638) $ 14,081
Common shares issued pursuant to the public offering (in shares)171,000 77,000 77,349 5,502,000 5,502,433 11,500,000
Common shares issued $ 360 $ 360 $ 178 $ 178 $ 10,000 $ 10,000 $ 19,594 $ 19,594
Common shares issued upon exercise of stock options (in shares)34,000 34,000
Common shares issued upon exercise of stock options $ 60 (24) $ 36
Stock-based compensation1,734 1,734
Common shares issued upon redemption of restricted share units (in shares)40,000
Common shares issued upon redemption of restricted share units $ 80 (80)
Other comprehensive gain (loss) 13 13
Net loss(18,568)(18,568)
Balance (in shares) at Sep. 30, 201955,486,000
Balance at Sep. 30, 2019 $ 291,344 34,593 (4,303)(294,206)27,428
Balance (in shares) at Dec. 31, 201976,108,000
Balance at Dec. 31, 2019 $ 365,490 34,649 (4,298)(301,915) $ 93,926
Common shares issued pursuant to the public offering (in shares)11,854,000
Common shares issued $ 58,234 $ 58,234
Common shares issued upon exercise of stock options (in shares)215,000 215,000
Common shares issued upon exercise of stock options $ 932 (401) $ 531
Stock-based compensation17,007 17,007
Common shares issued upon redemption of restricted share units (in shares)685,000
Common shares issued upon redemption of restricted share units $ 4,801 (4,801)
Other comprehensive gain (loss) (17) (17)
Net loss(40,525)(40,525)
Balance (in shares) at Sep. 30, 202088,862,000
Balance at Sep. 30, 2020 $ 429,457 $ 46,454 $ (4,315) $ (342,440) $ 129,156

Condensed Consolidated Interi_5

Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands3 Months Ended9 Months Ended18 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019Sep. 30, 2019
Cash flows from/(used in) operating activities:
Net loss for the period $ (13,249) $ (6,844) $ (40,525) $ (18,568)
Items not involving cash:
Stock-based compensation4,905 504 17,007 1,734
Shares issued to Aspire Capital as commitment fees 360
Depreciation and amortization37 33 115 115
Amortization of right-of-use assets116 115 345 346
Interest on lease liabilities17 22 54 69
Unrealized foreign exchange gain 5 9 2
Accrued interest on investments9 (58)22 (77)
Change in non-cash operating working capital:
Prepaid expenses(83)437 (81)361
Other current assets2 59 26 (8)
Operating lease payments(136)(126)(401)(345)
Account payable(374)(66)(431)(141)
Accrued liabilities486 735 320 825
Cash used in operating activities(8,270)(5,184)(23,540)(15,327)
Cash flows from/(used in) financing activities:
Cost of offerings (142)
Issuance of common shares upon exercise of stock options49 17 531 36
Cash provided by financing activities58,283 17 58,765 29,808
Cash flows from/(used in) investing activities:
Maturity (acquisition) of investments, net(4,398)(1,000)(15,278)(9,000)
Purchase of property and equipment (42)(53)(92)
Cash used in investing activities(4,398)(1,042)(15,331)(9,092)
Effect of exchange rate fluctuations on cash and cash equivalents held (3)(9)(2)
Increase/decrease in cash and cash equivalents45,615 (6,212)19,885 5,387
Cash and cash equivalents, beginning of period54,112 26,898 79,842 15,299
Cash and cash equivalents, end of period99,727 20,686 99,727 20,686 $ 20,686
Public Offering [Member]
Cash flows from/(used in) financing activities:
Issuance of common shares58,234 58,234 19,736
The 2018 Purchase Agreement [Member]
Cash flows from/(used in) financing activities:
Issuance of common shares 10,000
The 2018 ATM Offering [Member]
Cash flows from/(used in) financing activities:
Issuance of common shares $ 178 $ 10,900

Note 1 - Reporting Entity

Note 1 - Reporting Entity9 Months Ended
Sep. 30, 2020
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 offices are located in San Diego, California and its head office is located in Toronto, Canada. Aptose has two second CG026806 806” 3 1, 806 1 June 2020. 253, second 1b We are advancing first not 19 not 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. We do not We believe that our cash, cash equivalents and investments on hand at September 30, 2020 12 twelve may Our ability to raise additional funds could be affected by adverse market conditions, the status of our product pipeline, possible delays in enrollment in our trial related to COVID- 19, may not may

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block] 2. Significant accounting policies (a) Basis of consolidation: These condensed consolidated interim financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions, balances, revenue and expenses are eliminated on consolidation. (b) Basis of presentation: The accompanying unaudited condensed consolidated interim financial statements have been prepared in conformity with generally accepted accounting principles in the United States, or GAAP, for the interim financial information and the rules and regulations of the Securities and Exchange Commission, or SEC, related to quarterly reports on Form 10 not 10 March 10, 2020. not may (c) Significant accounting policies, estimates and judgments: During the three nine September 30, 2020, no 10 December 31, 2019. The preparation of the condensed consolidated interim 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 condensed consolidated interim financial statements include estimates, which, by their nature, are uncertain. Significant accounting policies and estimates made by management are the assumptions used in determining the valuation of share-based compensation and the estimates related to prepaid and accrued research and development costs. The impacts of such estimates are pervasive throughout the condensed consolidated interim 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) Foreign currency: The functional and presentation currency of the Company is the US dollar. (e) 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

Note 3 - Cash and Cash Equivale

Note 3 - Cash and Cash Equivalents9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block] 3. Cash and cash equivalents: Cash and cash equivalents consists of cash of $3.362 December 31, 2019 $1.640 90 $96.365 December 31, 2019 $78.202

Note 4 - Right-of-use Assets, O

Note 4 - Right-of-use Assets, Operating Leases9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Right-of-use Assets Disclosure [Text Block] 4. Right-of-use assets, operating leases: Nine months ended Year ended Right-of-use assets, beginning of period $ 1,837 1,570 Additions to right-of-use assets 10 267 Right-of-use assets, end of period 1,847 1,837 Accumulated amortization (806 ) (461 ) Right-of use assets, NBV 1,041 1,376

Note 5 - Investments

Note 5 - Investments9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] 5. Investments: Investments consisted of the following as of September 30, 2020 December 31, 2019: September 30, 2020 Cost Unrealized gain Market value Commercial notes $ 8,999 1 9,000 United States Treasury Bills 23,997 - 23,997 $ 32,996 1 32,997 December 31, 2019 Cost Unrealized gain Market value Guaranteed investment certificates, issued by a Canadian financial institution $ 12,008 18 12,026 Commercial notes 3,736 - 3,736 Canadian provincial promissory note 1,996 - 1,996 $ 17,740 18 17,758

Note 6 - Fair Value Measurement

Note 6 - Fair Value Measurements and Financial Instruments9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block] 6. 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 fair value of the Company's financial instruments for the periods presented: September 30, 2020 Level 1 Level 2 Level 3 Assets High interest savings account $ 96,365 $ - $ 96,365 - Commercial notes 9,000 - 9,000 - United States Treasury Bill 23,997 - 23,997 - $ 129,362 $ - $ 129,362 $ - December 31, 2019 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 $ -

Note 7 - Accrued Liabilities

Note 7 - Accrued Liabilities9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block] 7. Accrued liabilities: Accrued liabilities as of September 30, 2020 December 31, 2019 September 30, December 31, 2020 2019 Accrued personnel related costs $ 1,674 $ 1,739 Accrued research and development costs 1,526 1,062 Other accrued costs 178 257 $ 3,378 $ 3,058

Note 8 - Lease Liability

Note 8 - Lease Liability9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Lessee, Operating Leases [Text Block] 8. 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 28, 2022. June 30, 2023 5 not Minimum payments, undiscounted, under our operating leases are as follows: Years ending December 31, 2020 $ 136 2021 552 2022 464 2023 119 Thereafter - $ 1,271 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, September 30, 2020 December 31, 2019 Weighted-average remaining term – operating leases (in years) 2.4 3.3 Weighted-average discount rate – operating leases 5.40 % 5.43 % Lease liability, current portion 537 521 Lease liability, long term portion 658 1,011 Lease liability, total 1,195 1,532 Right-of-use assets obtained in exchange for operating lease liabilities are as follows: Nine months ended Nine months ended Right-of-use assets recorded upon adoption of Topic 842, beginning of period $ - $ $1,570 Right-of-use assets obtained in exchange for new operating lease liabilities in the period $ 10 $ $267 Operating lease costs and operating cash flows from our operating leases are as follows: Three months ended Nine months ended 2020 2019 2020 2019 Operating lease cost $ 132 $ 142 $ 399 $ 431 Operating cash flows - operating leases $ 136 $ 126 $ 401 $ 345

Note 9 - Share Capital

Note 9 - Share Capital9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block] 9. Share capital: The Company has authorized share capital of an unlimited number of common voting shares. (a) Equity issuances: (i) July/August 2020 On July 20, 2020 August 10, 2020, 11,854,472 $5.25 $62.236 $58.234 6% (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 December 16, 2019. September 30, 2019, not 2019 (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) 2018 On March 27, 2018, may, $30 nine September 30, 2019, 77,349 $2.37 $183 $178 3% September 30, 2019, $11.2 $10.9 May 24, 2019. (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: Three months ended Nine months ended (in thousands) 2020 2019 2020 2019 Net loss $ (13,249 ) $ (6,844 ) $ (40,525 ) $ (18,568 ) Weighted-average common shares – basic and diluted 85,860 55,454 79,477 47,315 Net loss per share – basic and diluted $ (0.15 ) $ (0.12 ) $ (0.51 ) $ (0.39 ) The effect of any potential exercise of the Company's stock options outstanding during the three nine September 30, 2020 September 30, 2019

Note 10 - Stock-based Compensat

Note 10 - Stock-based Compensation9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block] 10. Stock-based compensation: (a) Stock options Under the Company's stock option plan, options, rights and other entitlements may 17.5% 15.6 September 30, 2020. four 10 Stock option transactions for the nine September 30, 2020 September 30, 2019, Option numbers are in (000's) Nine months ended Options Weighted average Weighted average remaining Outstanding, beginning of period 5,941 $ 2.84 Granted 6,352 6.82 Exercised (215 ) 2.49 Forfeited (71 ) 2.87 Outstanding, end of the period 12,007 4.93 8.2 Exercisable, end of the period 4,310 2.99 6.5 Vested and expected to vest, end of period 10,853 4.82 8.1 Option numbers are in (000's) Nine months ended Options Weighted average Weighted average remaining Outstanding, beginning of period 4,489 $ 3.11 Granted 2,018 1.97 Exercised (34 ) 1.11 Forfeited (322 ) 2.36 Expired (47 ) 4.33 Outstanding, end of the period 6,104 2.81 7.8 Exercisable, end of the period 3,340 3.34 6.8 Vested and expected to vest, end of period 5,689 2.86 7.7 As of September 30, 2020, $14.1 1.7 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 period, and the resultant weighted average fair values: Nine months ended Nine months ended Risk-free interest rate 1.27 % 2.21 % Expected dividend yield - - Expected volatility 85.9 % 83.9 % Expected life of options (in years) 5 5 Grant date fair value $ 4.59 $ 1.32 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. The following table presents the vesting terms of options granted in the period: Option numbers are in (000's) Nine months ended Nine months ended Number of options Number of options Cliff vesting after one year anniversary 300 335 3 year vesting (50%-25%-25%) 862 160 4 year vesting (50%-16 2/3%-16 2/3%-16 2/3%) 5,190 1,523 Total stock options granted in the period 6,352 2,018 (b) Restricted share units The Company has a stock incentive plan (SIP) pursuant to which the Board may one nine September 30, 2020 2019 Nine months ended, Nine months ended, Number Weighted Number Weighted Outstanding, beginning of period 40 $ 2.00 - $ - Granted 645 7.32 80 2.0 Vested (685 ) 7.01 (40 ) 2.0 Outstanding, end of period - $ - 40 $ 2.0 On March 10, 2020, 645,000 three May 5, 2020, three four July 10, 2020, 645,000 On June 3, 2019, 80,000 40,000 three one May 5, 2020, one one one July 2, 2020, 40,000 The grant date fair value of the March 10, 2020 June 3, 2019 (c) Share-based payment expense The Company recorded share-based payment expense related to stock options and RSUs as follows: Three months ended Nine months ended 2020 2019 2020 2019 Research and development $ 1,051 $ 34 $ 2,784 $ 309 General and administrative 3,854 470 14,223 1,425 $ 4,905 $ 504 $ 17,007 $ 1,734

Note 11 - Related Party Transac

Note 11 - Related Party Transactions9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block] 11. 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 a member of our Scientific Advisory Board and former Acting Chief Medical Officer of Aptose up to January 1, 2020, March 2015 During the comparative period ended September 30, 2019, $154

Note 4 - Right-of-use Assets,_2

Note 4 - Right-of-use Assets, Operating Leases (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Schedule of Right-of-use Assets [Table Text Block] Nine months ended Year ended Right-of-use assets, beginning of period $ 1,837 1,570 Additions to right-of-use assets 10 267 Right-of-use assets, end of period 1,847 1,837 Accumulated amortization (806 ) (461 ) Right-of use assets, NBV 1,041 1,376

Note 5 - Investments (Tables)

Note 5 - Investments (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Investment [Table Text Block] September 30, 2020 Cost Unrealized gain Market value Commercial notes $ 8,999 1 9,000 United States Treasury Bills 23,997 - 23,997 $ 32,996 1 32,997 December 31, 2019 Cost Unrealized gain Market value Guaranteed investment certificates, issued by a Canadian financial institution $ 12,008 18 12,026 Commercial notes 3,736 - 3,736 Canadian provincial promissory note 1,996 - 1,996 $ 17,740 18 17,758

Note 6 - Fair Value Measureme_2

Note 6 - Fair Value Measurements and Financial Instruments (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block] September 30, 2020 Level 1 Level 2 Level 3 Assets High interest savings account $ 96,365 $ - $ 96,365 - Commercial notes 9,000 - 9,000 - United States Treasury Bill 23,997 - 23,997 - $ 129,362 $ - $ 129,362 $ - December 31, 2019 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 $ -

Note 7 - Accrued Liabilities (T

Note 7 - Accrued Liabilities (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Schedule of Accrued Liabilities [Table Text Block] September 30, December 31, 2020 2019 Accrued personnel related costs $ 1,674 $ 1,739 Accrued research and development costs 1,526 1,062 Other accrued costs 178 257 $ 3,378 $ 3,058

Note 8 - Lease Liability (Table

Note 8 - Lease Liability (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block] Years ending December 31, 2020 $ 136 2021 552 2022 464 2023 119 Thereafter - $ 1,271
Lessee, Operating Lease Liability and Weighted Average [Table Text Block] September 30, 2020 December 31, 2019 Weighted-average remaining term – operating leases (in years) 2.4 3.3 Weighted-average discount rate – operating leases 5.40 % 5.43 % Lease liability, current portion 537 521 Lease liability, long term portion 658 1,011 Lease liability, total 1,195 1,532
Schedule of Right-of-use Asset Obtained in Exchange For Operating Lease Liability [Table Text Block] Nine months ended Nine months ended Right-of-use assets recorded upon adoption of Topic 842, beginning of period $ - $ $1,570 Right-of-use assets obtained in exchange for new operating lease liabilities in the period $ 10 $ $267
Lease, Cost [Table Text Block] Three months ended Nine months ended 2020 2019 2020 2019 Operating lease cost $ 132 $ 142 $ 399 $ 431 Operating cash flows - operating leases $ 136 $ 126 $ 401 $ 345

Note 9 - Share Capital (Tables)

Note 9 - Share Capital (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] Three months ended Nine months ended (in thousands) 2020 2019 2020 2019 Net loss $ (13,249 ) $ (6,844 ) $ (40,525 ) $ (18,568 ) Weighted-average common shares – basic and diluted 85,860 55,454 79,477 47,315 Net loss per share – basic and diluted $ (0.15 ) $ (0.12 ) $ (0.51 ) $ (0.39 )

Note 10 - Stock-based Compens_2

Note 10 - Stock-based Compensation (Tables)9 Months Ended
Sep. 30, 2020
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block] Option numbers are in (000's) Nine months ended Options Weighted average Weighted average remaining Outstanding, beginning of period 5,941 $ 2.84 Granted 6,352 6.82 Exercised (215 ) 2.49 Forfeited (71 ) 2.87 Outstanding, end of the period 12,007 4.93 8.2 Exercisable, end of the period 4,310 2.99 6.5 Vested and expected to vest, end of period 10,853 4.82 8.1 Option numbers are in (000's) Nine months ended Options Weighted average Weighted average remaining Outstanding, beginning of period 4,489 $ 3.11 Granted 2,018 1.97 Exercised (34 ) 1.11 Forfeited (322 ) 2.36 Expired (47 ) 4.33 Outstanding, end of the period 6,104 2.81 7.8 Exercisable, end of the period 3,340 3.34 6.8 Vested and expected to vest, end of period 5,689 2.86 7.7
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] Nine months ended Nine months ended Risk-free interest rate 1.27 % 2.21 % Expected dividend yield - - Expected volatility 85.9 % 83.9 % Expected life of options (in years) 5 5 Grant date fair value $ 4.59 $ 1.32
Schedule of Share-based Payment Award, Options, Grants in Period [Table Text Block] Option numbers are in (000's) Nine months ended Nine months ended Number of options Number of options Cliff vesting after one year anniversary 300 335 3 year vesting (50%-25%-25%) 862 160 4 year vesting (50%-16 2/3%-16 2/3%-16 2/3%) 5,190 1,523 Total stock options granted in the period 6,352 2,018
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] Nine months ended, Nine months ended, Number Weighted Number Weighted Outstanding, beginning of period 40 $ 2.00 - $ - Granted 645 7.32 80 2.0 Vested (685 ) 7.01 (40 ) 2.0 Outstanding, end of period - $ - 40 $ 2.0
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] Three months ended Nine months ended 2020 2019 2020 2019 Research and development $ 1,051 $ 34 $ 2,784 $ 309 General and administrative 3,854 470 14,223 1,425 $ 4,905 $ 504 $ 17,007 $ 1,734

Note 3 - Cash and Cash Equiva_2

Note 3 - Cash and Cash Equivalents (Details Textual) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Cash, Ending Balance $ 3,362 $ 1,640
Cash Equivalents, at Carrying Value, Total $ 96,365 $ 78,202

Note 4 - Right-of-use Assets,_3

Note 4 - Right-of-use Assets, Operating Leases - Schedule of Right-of-use Assets (Details) - USD ($) $ in Thousands9 Months Ended12 Months Ended
Sep. 30, 2020Dec. 31, 2019Jan. 01, 2020Jan. 01, 2019
Right-of-use assets, beginning of period $ 1,041 $ 1,376 $ 1,837 $ 1,570
Additions to right-of-use assets10 267
Right-of-use assets, end of period1,847 1,837
Accumulated amortization(806)(461)
Right-of use assets $ 1,041 $ 1,376 $ 1,837 $ 1,570

Note 5 - Investments - Investme

Note 5 - Investments - Investments (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Investment, Cost $ 32,996 $ 17,740
Investment, Unrealized gain/(loss)1 18
Investment, Market value32,997 17,758
Corporate Debt Securities [Member]
Investment, Cost8,999 3,736
Investment, Unrealized gain/(loss)1
Investment, Market value9,000 3,736
Investments [Member]
Investment, Cost12,008
Investment, Unrealized gain/(loss)18
Investment, Market value12,026
US Treasury Securities [Member]
Investment, Cost23,997
Investment, Unrealized gain/(loss)
Investment, Market value $ 23,997
Canadian Provincial Promissory Notes [Member]
Investment, Cost1,996
Investment, Unrealized gain/(loss)
Investment, Market value $ 1,996

Note 6 - Fair Value Measureme_3

Note 6 - Fair Value Measurements and Financial Instruments - Assets Measured on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Assets, fair value $ 129,362 $ 95,960
Fair Value, Inputs, Level 1 [Member]
Assets, fair value
Fair Value, Inputs, Level 2 [Member]
Assets, fair value129,362 95,960
Fair Value, Inputs, Level 3 [Member]
Assets, fair value
Bank Time Deposits [Member]
Assets, fair value96,365 2,989
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 value96,365 2,989
Bank Time Deposits [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value
Corporate Debt Securities [Member]
Assets, fair value9,000 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 value9,000 6,235
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value
US Treasury Securities [Member]
Assets, fair value23,997
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 value23,997
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value
Canadian Provincial Promissory Notes [Member]
Assets, fair value5,493
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 value5,493
Canadian Provincial Promissory Notes [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value
Investments [Member]
Assets, fair value81,243
Investments [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, fair value
Investments [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, fair value81,243
Investments [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value

Note 7 - Accrued Liabilities -

Note 7 - Accrued Liabilities - Accrued Expenses (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Accrued personnel related costs $ 1,674 $ 1,739
Accrued research and development costs1,526 1,062
Other accrued costs178 257
Accrued Liabilities, Current, Total $ 3,378 $ 3,058

Note 8 - Lease Liability (Detai

Note 8 - Lease Liability (Details Textual)Sep. 30, 2020
Lessee, Operating Lease, Renewal Term (Year)5 years

Note 8 - Lease Liability - Sche

Note 8 - Lease Liability - Schedule of Minimum Payments Under Operating Leases (Details) $ in ThousandsSep. 30, 2020USD ($)
2020 $ 136
2021552
2022464
2023119
Thereafter
Lessee, Operating Lease, Liability, to be Paid, Total $ 1,271

Note 8 - Lease Liability - Leas

Note 8 - Lease Liability - Lease Liability (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Weighted-average remaining term – operating leases (in years) (Year)2 years 146 days3 years 109 days
Weighted-average discount rate – operating leases5.40%5.43%
Lease liability, current portion $ 537 $ 521
Lease liability, long term portion658 1,011
Lease liability, total $ 1,195 $ 1,532

Note 8 - Lease Liability - Sc_2

Note 8 - Lease Liability - Schedule of Right-of-use Asset Obtained in Exchange for Operating Lease Liability (Details) - USD ($) $ in Thousands9 Months Ended12 Months Ended
Sep. 30, 2020Sep. 30, 2019Dec. 31, 2019Jan. 01, 2020Jan. 01, 2019
Right-of-use assets, beginning of period $ 1,041 $ 1,376 $ 1,837 $ 1,570
Right-of-use assets obtained in exchange for new operating lease liabilities in the period10 $ 267
Accounting Standards Update 2016-02 [Member]
Right-of-use assets, beginning of period $ 1,570
Right-of-use assets obtained in exchange for new operating lease liabilities in the period $ 10 $ 267

Note 8 - Lease Liability - Oper

Note 8 - Lease Liability - Operating Lease Cost (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Operating lease cost $ 132 $ 142 $ 399 $ 431
Operating cash flows - operating leases $ 136 $ 126 $ 401 $ 345

Note 9 - Share Capital (Details

Note 9 - Share Capital (Details Textual) - USD ($) $ / shares in Units, $ in ThousandsAug. 10, 2020Jun. 03, 2019May 24, 2019May 13, 2019Jun. 08, 2018Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019May 07, 2019Sep. 30, 2019May 30, 2018Mar. 27, 2018
Stock Issued During Period, Value, New Issues $ 19,594
July 2020 Confidentially Marketed Public Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)11,854,472
Shares Issued, Price Per Share (in dollars per share) $ 5.25
Proceeds from Issuance of Common Stock, Gross $ 62,236
Proceeds from Issuance of Common Stock, Net of Share Issuance Costs $ 58,234
Stock Issuance, Percent of Cash Commission to Broker6.00%
June 2019 Public Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)11,500,000
Shares Issued, Price Per Share (in dollars per share) $ 1.85
Proceeds from Issuance of Common Stock, Gross $ 21,275
Proceeds from Issuance of Common Stock, Net of Share Issuance Costs $ 19,594
Stock Issuance, Percent of Cash Commission to Broker7.00%
The 2019 Share Purchase Agreement [Member]
Stock Issued During Period, Shares, New Issues (in shares)171,428
Stock Issuance Program, Authorized Amount $ 20,000
Stock Issued During Period, Value, New Issues $ 360 $ 360
The 2018 Purchase Agreement [Member]
Stock Issued During Period, Shares, New Issues (in shares)6,409,980 170,261 5,502,433
Shares Issued, Price Per Share (in dollars per share) $ 1.82 $ 1.82 $ 1.82
Proceeds from Issuance of Common Stock, Gross $ 10,000 $ 11,900
Stock Issuance Program, Authorized Amount $ 20,000
Stock Issued During Period, Value, New Issues $ 600 10,000
Proceeds from Issuance of Common Stock $ 10,000
The 2018 ATM Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)77,349
Shares Issued, Price Per Share (in dollars per share) $ 2.37 $ 2.37 $ 2.37
Proceeds from Issuance of Common Stock, Gross $ 183 $ 11,200
Stock Issuance, Percent of Cash Commission to Broker3.00%3.00%3.00%
Stock Issuance Program, Authorized Amount $ 30,000
Stock Issued During Period, Value, New Issues $ 178
Proceeds from Issuance of Common Stock $ 178 $ 10,900

Note 9 - Share Capital - Loss P

Note 9 - Share Capital - Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Net loss for the period $ (13,249) $ (6,844) $ (40,525) $ (18,568)
Weighted-average common shares – basic and diluted (in shares)85,860 55,454 79,477 47,315
Net loss per share – basic and diluted (in dollars per share) $ (0.15) $ (0.12) $ (0.51) $ (0.39)

Note 10 - Stock-based Compens_3

Note 10 - Stock-based Compensation (Details Textual) - USD ($) $ in MillionsJul. 10, 2020Jul. 02, 2020May 05, 2020Mar. 10, 2020Jun. 03, 2019Sep. 30, 2020Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Subscription Rate17.50%
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares (in shares)15.6
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)4 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)10 years
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount $ 14.1
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)1 year 255 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)120 days90 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)645,000 40,000 645,000 80,000 645,000 80,000
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)90 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)40,000
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)1 year 30 days1 year

Note 10 - Stock-based Compens_4

Note 10 - Stock-based Compensation - Stock Option Transactions (Details) - $ / shares shares in Thousands9 Months Ended
Sep. 30, 2020Sep. 30, 2019
Outstanding, options (in shares)5,941 4,489
Outstanding, weighted average exercise price (in dollars per share) $ 2.84 $ 3.11
Granted, options (in shares)6,352 2,018
Granted, weighted average exercise price (in dollars per share) $ 6.82 $ 1.97
Exercised, options (in shares)(215)(34)
Exercised, weighted average exercise price (in dollars per share) $ 2.49 $ 1.11
Forfeited, options (in shares)(71)(322)
Forfeited, weighted average exercise price (in dollars per share) $ 2.87 $ 2.36
Outstanding, weighted average remaining contractual life (Year)8 years 73 days7 years 292 days
Exercisable, end of the period, options (in shares)4,310 3,340
Exercisable, end of the Exercisable, weighted average exercise price (in dollars per share) $ 2.99 $ 3.34
Exercisable, weighted average remaining contractual life (Year)6 years 182 days6 years 292 days
Vested and expected to vest, end of period, options (in shares)10,853 5,689
Vested and expected to vest, weighted average exercise price (in dollars per share) $ 4.82 $ 2.86
Vested and expected to vest, weighted average remaining contractual life (Year)8 years 36 days7 years 255 days
Expired, options (in shares)(47)
Expired, weighted average exercise price (in dollars per share) $ 4.33
Outstanding, options (in shares)12,007 6,104
Outstanding, weighted average exercise price (in dollars per share) $ 4.93 $ 2.81

Note 10 - Stock-based Compens_5

Note 10 - Stock-based Compensation - Weighted Average Assumptions (Details) - $ / shares9 Months Ended
Sep. 30, 2020Sep. 30, 2019
Risk-free interest rate1.27%2.21%
Expected dividend yield
Expected volatility85.90%83.90%
Expected life of options (Year)5 years5 years
Grant date fair value (in dollars per share) $ 4.59 $ 1.32

Note 10 - Stock-based Compens_6

Note 10 - Stock-based Compensation - Vesting Terms of Options Granted (Details) - shares shares in Thousands9 Months Ended
Sep. 30, 2020Sep. 30, 2019
Stock options granted in the period (in shares)6,352 2,018
Options with Cliff Vesting After One Year Anniversary [Member]
Stock options granted in the period (in shares)300 335
Options with Three Year Vesting [Member]
Stock options granted in the period (in shares)862 160
Options with Four Year Vesting [Member]
Stock options granted in the period (in shares)5,190 1,523

Note 10 - Stock-based Compens_7

Note 10 - Stock-based Compensation - Vesting Terms of Options Granted (Details) (Parentheticals)9 Months Ended
Sep. 30, 2020Sep. 30, 2019
Options with Three Year Vesting [Member] | Share-based Payment Arrangement, Tranche One [Member]
Vesting percentage50.00%50.00%
Options with Three Year Vesting [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Vesting percentage25.00%25.00%
Options with Three Year Vesting [Member] | Share-based Payment Arrangement, Tranche Three [Member]
Vesting percentage25.00%25.00%
Options with Four Year Vesting [Member] | Share-based Payment Arrangement, Tranche One [Member]
Vesting percentage50.00%50.00%
Options with Four Year Vesting [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Vesting percentage16.67%16.67%
Options with Four Year Vesting [Member] | Share-based Payment Arrangement, Tranche Three [Member]
Vesting percentage16.67%16.67%
Options with Four Year Vesting [Member] | Share-based Payment Arrangement, Tranche Four [Member]
Vesting percentage16.67%16.67%

Note 10 - Stock-based Compens_8

Note 10 - Stock-based Compensation - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member] - $ / sharesJul. 10, 2020Jul. 02, 2020Mar. 10, 2020Jun. 03, 2019Sep. 30, 2020Sep. 30, 2019
Outstanding, beginning of period (in shares)40,000
Outstanding, beginning of period, weighted average grant date fair value (in dollars per share) $ 2
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)645,000 40,000 645,000 80,000 645,000 80,000
Granted, weighted average grant date fair value (in dollars per share) $ 7.32 $ 2
Vested (in shares)(685,000)(40,000)
Vested, end of period, weighted average grant date fair value (in dollars per share) $ 7.01 $ 2
Outstanding, end of period (in shares) 40,000
Outstanding, end of period, weighted average grant date fair value (in dollars per share) $ 2

Note 10 - Stock-based Compens_9

Note 10 - Stock-based Compensation - Share-based Payment Expense (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Share-based payment expense $ 4,905 $ 504 $ 17,007 $ 1,734
Research and Development Expense [Member]
Share-based payment expense1,051 34 2,784 309
General and Administrative Expense [Member]
Share-based payment expense $ 3,854 $ 470 $ 14,223 $ 1,425

Note 11 - Related Party Trans_2

Note 11 - Related Party Transactions (Details Textual) $ in Thousands9 Months Ended
Sep. 30, 2019USD ($)
Moores Cancer Center at University of California San Diego [Member] | Research and Development Expense, Related Party [Member]
Related Party Transaction, Amounts of Transaction $ 154