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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Schedule of RSU Activity
The following table summarizes the Company’s RSU activity under the New Plan since December 31, 2023:
Number of RSUsWeighted-
average grant
date fair value
($)
Outstanding, December 31, 2023771,413 8.63 
Granted957,750 10.56 
Vested and settled(224,104)8.65 
Forfeited(137,220)11.10 
Outstanding, June 30, 20241,367,839 9.73 
Schedule of Stock Options Granted
The following table summarizes the Company’s stock options granted in Canadian dollars under the Original Plan and the New Plan:
Number
of Options
Weighted-
Average
Exercise Price
(C$)
Weighted-
Average
Exercise Price
($)
Weighted-
Average
Contractual
Term
(years)
Aggregate
intrinsic value
(C$)
Aggregate
intrinsic value
($)
Outstanding, December 31, 20231,489,478 19.59 14.39 5.502,987 2,255 
Granted— — — 
Exercised(136,946)10.97 8.12 
Forfeited(93,744)23.89 17.56 
Outstanding, June 30, 20241,258,788 20.21 14.84 5.071,288 942 
The following table summarizes the Company’s stock options granted in U.S. dollars under the New Plan and the Inducement Plan:
Number
of Options
Weighted-
Average
Exercise Price
($)
Weighted-
Average
Contractual
Term
(years)
Aggregate
intrinsic value
($)
Outstanding, December 31, 20236,069,242 12.97 7.679,213 
Granted2,174,800 10.48 
Exercised(221,011)7.61 
Forfeited(405,426)11.70 
Outstanding, June 30, 20247,617,605 12.49 7.812,637 
Schedule of Stock-Based Compensation Expense for Equity Classified Instruments Stock-based compensation expense for equity classified instruments, RSUs, as well as the financial statement impact of the amortization and periodic revaluation of liability classified instruments, are recorded in research and development expense and general and administration expense as follows:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Research and development expense
$2,381 $(1,085)$4,306 $(640)
General and administrative expense
2,107 1,411 3,641 3,143 
Schedule of Estimated Fair Value of Stock Options Granted and Weighted-Average Option Pricing Assumptions
The estimated fair value of stock options granted under the New Plan was determined using the Black-Scholes option pricing model with the following weighted-average assumptions:
Six Months Ended June 30,
20242023
Dividend yield%%
Expected volatility64.9 %67.7 %
Risk-free interest rate4.08 %3.80 %
Expected average life of options6.04 years6.05 years
The weighted-average Black-Scholes option pricing assumptions for liability classified stock options outstanding at June 30, 2024 and 2023 are as follows:
June 30,
2024
June 30,
2023
Dividend yield
%%
Expected volatility
43.4 %79.3 %
Risk-free interest rate
3.90 %4.50 %
Expected average option term
0.61 years1.68 years
Number of liability classified stock options outstanding
353,694512,155