Quarterly report pursuant to Section 13 or 15(d)

SHARE-BASED COMPENSATION (Tables)

v3.22.2.2
SHARE-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2022
SHARE-BASED COMPENSATION  
Summary of the activity of share options

Weighted

    

Weighted

    

Average

Average

Number of

Exercise

Remaining

Aggregate

Share

Price Per

Contractual

Intrinsic

    

Options

    

Share

    

Term (years)

    

Value

Outstanding as of December 31, 2021

 

738,037

$

8.15

 

5.1

$

2,231,253

Granted

 

360,000

 

7.54

 

 

Forfeited

 

(55,012)

 

15.98

 

 

Outstanding as of September 30, 2022

 

1,043,025

 

7.53

 

6.4

 

2,377,874

Vested and exercisable as of September 30, 2022

 

648,698

$

7.32

 

4.4

$

2,073,899

Summary of fair value of share options granted estimated using Black Scholes with the assumptions

Nine Months Ended

 

September 30, 

    

2022

    

2021

 

Weighted average fair value of Common Shares

 

C$

5.84

 

C$

6.24

Expected volatility

 

95.34

%  

94.43

%

Risk-free interest rate

 

2.71

%  

0.81

%

Expected dividend yield

 

0

%  

0

%

Expected term (years)

 

6.0

 

4.1

Summary of total share-based compensation

Three Months Ended

 

Nine Months Ended

September 30, 

September 30, 

    

2022

    

2021

    

2022

    

2021

Research and development

$

39,627

$

31,286

$

151,062

$

157,147

General and administrative

 

68,957

 

158,343

 

197,799

 

240,333

Total share-based compensation expense

$

108,584

$

189,629

$

348,861

$

397,480