Annual report pursuant to Section 13 and 15(d)

SHARE-BASED COMPENSATION (Tables)

v3.22.4
SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2022
SHARE-BASED COMPENSATION  
Summary of the activity of share options

    

    

    

Weighted

    

 

 

Weighted

 

Average

 

 

 

Average

 

Remaining

 

Number of

 

Exercise

 

Contractual

Aggregate

Share

 

Price Per

 

Term

Intrinsic

Options

Share

 

(years)

Value

Outstanding as of January 1, 2021

 

646,195

$

7.80

 

4.8

$

1,155,145

Granted

 

197,291

 

12.00

 

  

 

  

Forfeited

 

(104,166)

 

14.40

 

  

 

  

Expired

 

(1,283)

 

18.00

 

  

 

  

Outstanding as of December 31, 2021

 

738,037

 

8.40

 

5.1

$

2,231,293

Granted

 

360,000

 

7.54

 

  

 

  

Forfeited

 

(55,012)

 

15.98

 

  

 

  

Outstanding as of December 31, 2022

 

1,043,025

 

5.60

 

6.1

$

1,183,860

Vested and exercisable as of December 31, 2022

 

665,185

$

5.35

 

4.3

$

1,183,860

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

Year Ended

 

December 31, 

    

2022

    

2021

Weighted average fair value of Common Shares

C$

5.84

C$

6.00

Expected volatility

 

95

%  

92

%

Risk-free interest rate

 

2.71

%  

0.95

%

Expected dividend yield

 

%  

%

Expected term (years)

 

6.0

 

4.5

Summary of total share-based compensation

Year Ended December 31, 

2022

    

2021

Research and development

$

297,933

$

144,905

General and administrative

 

189,697

 

370,724

Total share-based compensation

$

487,630

$

515,629