Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 10, 2020 | |
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 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) | 88,861,737 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Shares, no par value |
Condensed Consolidated Interim
Condensed Consolidated Interim Statements of Financial Position (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 99,727 | $ 79,842 |
Investments | 32,997 | 17,758 |
Prepaid expenses | 1,106 | 1,025 |
Other current assets | 115 | 141 |
Total current assets | 133,945 | 98,766 |
Non-current assets: | ||
Property and equipment | 272 | 334 |
Right-of-use assets, operating leases | 1,041 | 1,376 |
Total non-current assets | 1,313 | 1,710 |
Total assets | 135,258 | 100,476 |
Current liabilities: | ||
Accounts payable | 1,529 | 1,960 |
Accrued liabilities | 3,378 | 3,058 |
Current portion of lease liability, operating leases | 537 | 521 |
Total current liabilities | 5,444 | 5,539 |
Non-current liabilities: | ||
Lease liability, operating leases | 658 | 1,011 |
Total liabilities | 6,102 | 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, respectively | 429,457 | 365,490 |
Additional paid-in capital | 46,454 | 34,649 |
Accumulated other comprehensive loss | (4,315) | (4,298) |
Deficit | (342,440) | (301,915) |
Total shareholders’ equity | 129,156 | 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 Thousands | Sep. 30, 2020 | Dec. 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 Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenue | ||||
Expenses: | ||||
Research and development | 7,519 | 4,751 | 20,319 | 11,582 |
General and administrative | 5,775 | 2,276 | 20,690 | 7,391 |
Operating expenses | 13,294 | 7,027 | 41,009 | 18,973 |
Other income (expense): | ||||
Interest income | 46 | 187 | 485 | 407 |
Foreign exchange losses | (1) | (4) | (1) | (2) |
Total other income | 45 | 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 Thousands | Public 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, 2018 | 38,162,000 | |||||||||||||||||||||
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 compensation | 1,734 | 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, 2019 | 55,486,000 | |||||||||||||||||||||
Balance at Sep. 30, 2019 | $ 291,344 | 34,593 | (4,303) | (294,206) | 27,428 | |||||||||||||||||
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 | |||||||||||||||||
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 compensation | 17,007 | 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, 2020 | 88,862,000 | |||||||||||||||||||||
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 Thousands | 3 Months Ended | 9 Months Ended | 18 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 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 compensation | 4,905 | 504 | 17,007 | 1,734 | |
Shares issued to Aspire Capital as commitment fees | 360 | ||||
Depreciation and amortization | 37 | 33 | 115 | 115 | |
Amortization of right-of-use assets | 116 | 115 | 345 | 346 | |
Interest on lease liabilities | 17 | 22 | 54 | 69 | |
Unrealized foreign exchange gain | 5 | 9 | 2 | ||
Accrued interest on investments | 9 | (58) | 22 | (77) | |
Change in non-cash operating working capital: | |||||
Prepaid expenses | (83) | 437 | (81) | 361 | |
Other current assets | 2 | 59 | 26 | (8) | |
Operating lease payments | (136) | (126) | (401) | (345) | |
Account payable | (374) | (66) | (431) | (141) | |
Accrued liabilities | 486 | 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 options | 49 | 17 | 531 | 36 | |
Cash provided by financing activities | 58,283 | 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 equivalents | 45,615 | (6,212) | 19,885 | 5,387 | |
Cash and cash equivalents, beginning of period | 54,112 | 26,898 | 79,842 | 15,299 | |
Cash and cash equivalents, end of period | 99,727 | 20,686 | 99,727 | 20,686 | $ 20,686 |
Public Offering [Member] | |||||
Cash flows from/(used in) financing activities: | |||||
Issuance of common shares | 58,234 | 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 Entity | 9 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 Policies | 9 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 Equivalents | 9 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 Leases | 9 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 - Investments | 9 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 Instruments | 9 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 Liabilities | 9 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 Liability | 9 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 Capital | 9 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 Compensation | 9 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 Transactions | 9 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 Thousands | Sep. 30, 2020 | Dec. 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 Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Dec. 31, 2019 | Jan. 01, 2020 | Jan. 01, 2019 | |
Right-of-use assets, beginning of period | $ 1,041 | $ 1,376 | $ 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 | $ 1,041 | $ 1,376 | $ 1,837 | $ 1,570 |
Note 5 - Investments - Investme
Note 5 - Investments - Investments (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Investment, Cost | $ 32,996 | $ 17,740 |
Investment, Unrealized gain/(loss) | 1 | 18 |
Investment, Market value | 32,997 | 17,758 |
Corporate Debt Securities [Member] | ||
Investment, Cost | 8,999 | 3,736 |
Investment, Unrealized gain/(loss) | 1 | |
Investment, Market value | 9,000 | 3,736 |
Investments [Member] | ||
Investment, Cost | 12,008 | |
Investment, Unrealized gain/(loss) | 18 | |
Investment, Market value | 12,026 | |
US Treasury Securities [Member] | ||
Investment, Cost | 23,997 | |
Investment, Unrealized gain/(loss) | ||
Investment, Market value | $ 23,997 | |
Canadian Provincial Promissory Notes [Member] | ||
Investment, Cost | 1,996 | |
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 Thousands | Sep. 30, 2020 | Dec. 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 value | 129,362 | 95,960 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | ||
Bank Time Deposits [Member] | ||
Assets, fair value | 96,365 | 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 value | 96,365 | 2,989 |
Bank Time Deposits [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | ||
Corporate Debt Securities [Member] | ||
Assets, fair value | 9,000 | 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 value | 9,000 | 6,235 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | ||
US Treasury Securities [Member] | ||
Assets, fair value | 23,997 | |
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 value | 23,997 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | ||
Canadian Provincial Promissory Notes [Member] | ||
Assets, fair value | 5,493 | |
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 value | 5,493 | |
Canadian Provincial Promissory Notes [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value | ||
Investments [Member] | ||
Assets, fair value | 81,243 | |
Investments [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets, fair value | ||
Investments [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets, fair value | 81,243 | |
Investments [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets, fair value |
Note 7 - Accrued Liabilities -
Note 7 - Accrued Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Accrued personnel related costs | $ 1,674 | $ 1,739 |
Accrued research and development costs | 1,526 | 1,062 |
Other accrued costs | 178 | 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 Thousands | Sep. 30, 2020USD ($) |
2020 | $ 136 |
2021 | 552 |
2022 | 464 |
2023 | 119 |
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 Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Weighted-average remaining term – operating leases (in years) (Year) | 2 years 146 days | 3 years 109 days |
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 |
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 Thousands | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | Jan. 01, 2020 | Jan. 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 period | 10 | $ 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 Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 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 Thousands | Aug. 10, 2020 | Jun. 03, 2019 | May 24, 2019 | May 13, 2019 | Jun. 08, 2018 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | May 07, 2019 | Sep. 30, 2019 | May 30, 2018 | Mar. 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 Broker | 6.00% | ||||||||||||
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 Broker | 7.00% | ||||||||||||
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 Broker | 3.00% | 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 Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 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 Millions | Jul. 10, 2020 | Jul. 02, 2020 | May 05, 2020 | Mar. 10, 2020 | Jun. 03, 2019 | Sep. 30, 2020 | Sep. 30, 2019 |
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 (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 days | 90 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 days | 1 year |
Note 10 - Stock-based Compens_4
Note 10 - Stock-based Compensation - Stock Option Transactions (Details) - $ / shares shares in Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 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 days | 7 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 days | 6 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 days | 7 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) - $ / shares | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Risk-free interest rate | 1.27% | 2.21% |
Expected dividend yield | ||
Expected volatility | 85.90% | 83.90% |
Expected life of options (Year) | 5 years | 5 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 Thousands | 9 Months Ended | |
Sep. 30, 2020 | Sep. 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, 2020 | Sep. 30, 2019 | |
Options with Three Year Vesting [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||
Vesting percentage | 50.00% | 50.00% |
Options with Three Year Vesting [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||
Vesting percentage | 25.00% | 25.00% |
Options with Three Year Vesting [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||
Vesting percentage | 25.00% | 25.00% |
Options with Four Year Vesting [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||
Vesting percentage | 50.00% | 50.00% |
Options with Four Year Vesting [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||
Vesting percentage | 16.67% | 16.67% |
Options with Four Year Vesting [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||
Vesting percentage | 16.67% | 16.67% |
Options with Four Year Vesting [Member] | Share-based Payment Arrangement, Tranche Four [Member] | ||
Vesting percentage | 16.67% | 16.67% |
Note 10 - Stock-based Compens_8
Note 10 - Stock-based Compensation - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | Jul. 10, 2020 | Jul. 02, 2020 | Mar. 10, 2020 | Jun. 03, 2019 | Sep. 30, 2020 | Sep. 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 Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Share-based payment expense | $ 4,905 | $ 504 | $ 17,007 | $ 1,734 |
Research and Development Expense [Member] | ||||
Share-based payment expense | 1,051 | 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 Thousands | 9 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 |