XML 65 R36.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stockholders' equity (Tables)
12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
Schedule of Common Stock Outstanding Roll Forward [Table Text Block]
 
 
Number
 
Common stock
 
of shares
 
 
 
 
 
 
Balance, December 31, 2011
 
 
12,225,818
 
Issuance of common stock (note 18)
 
 
244,517
 
 
 
 
 
 
Balance, December 31, 2012
 
 
12,470,335
 
Issued on acquisition of Correvio (note 4)
 
 
2,481,596
 
Issued for cash upon exercise of options
 
 
5,192
 
Issued upon exercise of options in cashless transaction (note 12(c))
 
 
1,154
 
Balance, December 31, 2013
 
 
14,958,277
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
Details of the stock option transactions for the years ended December 31, 2013 and 2012 are summarized as follows:
 
 
 
 
 
Weighted
 
Weighted average
 
 
 
 
 
 
 
average
 
remaining
 
Aggregate
 
 
 
 
 
exercise price
 
contractual life
 
intrinsic value
 
 
 
Number
 
(CAD$)
 
(years)
 
(CAD$)
 
Outstanding as at December 31, 2011
 
976,993
 
35.25
 
1.99
 
Nil
 
 
 
 
 
 
 
 
 
 
 
Options granted
 
590,000
 
2.10
 
 
 
 
 
Options forfeited
 
(260,431)
 
30.90
 
 
 
 
 
Options expired
 
(188,450)
 
59.75
 
 
 
 
 
Outstanding as at December 31, 2012
 
1,118,112
 
14.64
 
2.94
 
67
 
 
 
 
 
 
 
 
 
 
 
Options granted
 
545,000
 
3.28
 
 
 
 
 
Options exercised
 
(6,710)
 
1.70
 
 
 
 
 
Options forfeited
 
(245,226)
 
22.53
 
 
 
 
 
Options expired
 
(209,264)
 
33.40
 
 
 
 
 
Outstanding as at December 31, 2013
 
1,201,912
 
4.68
 
3.71
 
4,400
 
Exercisable as at December 31, 2013
 
602,438
 
6.18
 
3.14
 
2,218
 
Vested and expected to vest as at December 31, 2013
 
1,171,343
 
4.70
 
3.69
 
4,317
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
At December 31, 2013, stock options to executive officers and directors, employees and consultants were outstanding as follows:
 
 
 
Options outstanding
 
Options exercisable
 
 
 
 
 
Weighted
 
Weighted
 
 
 
Weighted
 
 
 
 
 
average
 
average
 
 
 
average
 
 
 
 
 
remaining
 
exercise
 
 
 
exercise
 
Range of
 
 
 
contractual
 
price
 
 
 
price
 
exercise prices (CAD$)
 
Number
 
life (years)
 
(CAD$)
 
Number
 
(CAD$)
 
 
 
 
 
 
 
 
 
 
 
 
 
$1.65 to $1.67
 
272,000
 
4.22
 
1.65
 
60,250
 
1.65
 
$1.68 to $2.08
 
268,000
 
3.25
 
1.70
 
189,956
 
1.70
 
$2.09 to $3.78
 
300,000
 
3.50
 
2.45
 
211,972
 
2.45
 
$3.79 to $43.20
 
361,912
 
3.83
 
11.01
 
140,260
 
19.84
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,201,912
 
3.71
 
4.68
 
602,438
 
6.18
 
Schedule Of Nonvested Option Activity [Table Text Block]
A summary of the Company’s non-vested stock option activity and related information for the year ended December 31, 2013 is as follows:
 
 
 
Number
 
Weighted average
 
 
 
of
 
grant-date fair value
 
Non-vested options
 
options
 
(U.S.$)
 
 
 
 
 
 
 
Non-vested at December 31, 2012
 
341,686
 
1.81
 
Granted
 
545,000
 
2.17
 
Vested
 
(256,973)
 
1.87
 
Forfeited
 
(30,239)
 
2.11
 
 
 
 
 
 
 
Non-vested at December 31, 2013
 
599,474
 
2.10
 
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
Compensation expense is recorded in research and development expenses and selling, general and administration expenses as follows:
 
 
 
December 31,
 
December 31,
 
 
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Research and development
 
$
-
 
$
(128)
 
Selling, general and administration
 
 
645
 
 
674
 
 
 
 
 
 
 
 
 
Total
 
$
645
 
$
546
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The estimated fair value of the stock options granted was determined using the Black-Scholes option pricing model with the following weighted-average assumptions:
 
 
 
December 31,
 
 
December 31,
 
 
 
2013
 
 
2012
 
 
 
 
 
 
 
 
Dividend yield
 
0
%
 
0
%
Expected volatility
 
82.7
%
 
80.5
%
Risk-free interest rate
 
1.3
%
 
1.2
%
Expected average life of the options
 
3.7 years
 
 
3.3 years
 
Estimated forfeiture rate
 
13.4
%
 
13.9
%