Quarterly report pursuant to Section 13 or 15(d)

Note 10 - Share Capital

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Note 10 - Share Capital
 3 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
 

10.

Share capital:

 

The Company has authorized share capital of an unlimited number of common voting shares.

 

 

(a)

Equity issuances:

 

2020 At‑The‑Market (“ATM”) Facility

 

On May 5, 2020, the Company entered into an equity distribution agreement with Piper Sandler and Canaccord Genuity acting as co-agents in connection with the 2020 ATM Facility. Under the terms of the 2020 ATM Facility, the Company may, from time to time, sell Common Shares having an aggregate offering value of up to $75 million through Piper Sandler and Canaccord Genuity on the Nasdaq Capital Market. During the first quarter ended March 21, 2022, the Company did not issue any shares under the 2020 ATM Facility (year ended December 31, 2021 – issued 15,315 shares under the ATM Facility at an average price of $2.446 for gross proceeds of $37 thousand ($36 thousand net of share issue costs)).

 

 

(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
March 31, 2022

    

Three months ended
March 31, 2021

  
                 

Net loss

   $ (11,481 )   $ (16,227 )

Weighted-average common shares – basic and diluted

     92,226       88,884  

Net loss per share – basic and diluted

   $ (0.12 )   $ (0.18 )

 

The effect of any potential exercise of the Company’s stock options outstanding during the three month periods ended March 31, 2022 and March 31, 2021 has been excluded from the calculation of diluted loss per common share as it would be anti‑dilutive.