0001403752-21-000005 | 10-K | XBRL Viewer

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Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Dec. 31, 2020	Feb. 22, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38068
Entity Registrant Name	ZYMEWORKS INC.
Entity Incorporation, State or Country Code	Z4
Entity Tax Identification Number	98-1398788
Entity Address, Address Line One	Suite 540—1385 West 8th Avenue
Entity Address, City or Town	Vancouver
Entity Address, State or Province	BC
Entity Address, Postal Zip Code	V6H 3V9
City Area Code	604
Local Phone Number	678-1388
Title of 12(b) Security	Common shares, no par value per share
Trading Symbol	ZYME
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,323.6
Entity Common Stock, Shares Outstanding		46,135,906
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement in connection with the registrant’s 2021 annual meeting of shareholders, which will be filed with the Securities and Exchange Commission (the “SEC”) subsequent to the date hereof, are incorporated by reference into Part III of this Form 10-K. Such proxy statement will be filed with the SEC not later than 120 days following the end of the registrant’s fiscal year ended December 31, 2020.
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Central Index Key	0001403752

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 242,036	$ 128,451
Short-term investments (note 5)	184,318	170,453
Accounts receivable	15,293	2,185
Prepaid expenses and other current assets	13,429	10,741
Total current assets	455,076	311,830
Deferred financing fees	805	650
Long-term investments (note 5)	25,921	0
Long-term prepaid assets	2,290	2,306
Deferred tax asset (note 15)	1,723	1,218
Property and equipment, net (note 7)	12,185	11,100
Operating lease right-of-use assets (note 16)	5,429	5,400
Intangible assets, net (note 8)	5,303	6,057
Acquired in-process research and development (note 6)	17,628	17,628
Goodwill (note 6)	12,016	12,016
Total assets	538,376	368,205
Current liabilities:
Accounts payable and accrued liabilities (note 9)	43,655	35,691
Fair value of liability-classified stock options (note 17)	39,284	45,569
Current portion of operating lease liability (note 16)	2,710	1,282
Other current liabilities	17	10
Total current liabilities	85,666	82,552
Long-term portion of operating lease liability (note 16)	5,812	5,599
Deferred revenue (note 13)	32,941	32,941
Other long-term liabilities (note 9)	2,857	1,024
Deferred tax liability (note 15)	1,178	408
Total liabilities	128,454	122,524
Shareholders’ equity:
Common shares, no par value; unlimited authorized shares at December 31, 2020 and 2019; 46,035,389 and 39,564,529 shares issued and outstanding at December 31, 2020 and 2019, respectively (note 11b)	724,219	450,210
Additional paid-in capital	163,623	92,839
Accumulated other comprehensive loss	(6,659)	(6,659)
Accumulated deficit	(471,261)	(290,709)
Total shareholders’ equity	409,922	245,681
Total liabilities and shareholders’ equity	538,376	368,205
Commitments and contingencies (note 18)

Consolidated Balance Sheets (Parenthetical) - shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common shares, outstanding (in shares)	46,035,389	39,564,529

Consolidated Statements of Loss and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue:
Research and development collaborations (note 13)	$ 38,951	$ 29,544	$ 53,019
Operating expenses:
Research and development	168,534	115,900	56,926
General and administrative	57,885	64,177	29,457
Impairment of acquired IPR&D (note 6)	0	768	0
Total operating expenses	226,419	180,845	86,383
Loss from operations	(187,468)	(151,301)	(33,364)
Other income (expense):
Interest income	5,697	5,877	2,607
Other income (expense), net (note 14)	1,648	(595)	(3,628)
Total other income (expense), net	7,345	5,282	(1,021)
Loss before income taxes	(180,123)	(146,019)	(34,385)
Income tax (expense) recovery, net (note 15)	(429)	582	(2,171)
Net loss	$ (180,552)	$ (145,437)	$ (36,556)
Net loss per common share (note 4):
Basic and diluted (in dollars per share)	$ (3.58)	$ (3.83)	$ (1.26)
Weighted-average common shares outstanding (note 4):
Basic and diluted (in shares)	50,382,497	38,022,014	29,089,896

Consolidated Statements of Changes in Shareholders’ Equity - USD ($) $ in Thousands	Total	Common shares	Accumulated deficit	Accumulated other comprehensive loss	Additional paid-in capital
Beginning balance (in shares) at Dec. 31, 2017		25,444,006
Beginning balance at Dec. 31, 2017	$ 116,428	$ 222,991	$ (108,716)	$ (6,659)	$ 8,812
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares on exercise of stock options (in shares)		94,812
Issuance of common shares on exercise of stock options (note 11e)	825	$ 1,166			(341)
Issuance of common shares through employee stock purchase plan (in shares)		22,489
Issuance of common shares through employee stock purchase plan (note 11f)	252	$ 252
Stock-based compensation	3,876				3,876
Issuance of common shares on exercise of warrants (in shares)		206,361
Issuance of common shares on exercise of warrants (note 10)	4,913	$ 4,913
Issuance of common shares and pre-funded warrants in connection with public offering, net of offering costs (in shares)		6,210,000
Issuance of common shares and pre-funded warrants in connection with public offering, net of offering costs	90,752	$ 90,752
Net loss	(36,556)		(36,556)
Ending balance (in shares) at Dec. 31, 2018		31,977,668
Ending balance at Dec. 31, 2018	180,490	$ 320,074	(145,272)	(6,659)	12,347
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares on exercise of stock options (in shares)		529,661
Issuance of common shares on exercise of stock options (note 11e)	9,303	$ 11,432			(2,129)
Issuance of common shares through employee stock purchase plan (in shares)		43,308
Issuance of common shares through employee stock purchase plan (note 11f)	763	$ 763
Stock-based compensation	12,676				12,676
Fair value adjustments upon reclassification of stock options to liabilities	(119)				(119)
Issuance of common shares and pre-funded warrants in connection with public offering, net of offering costs (in shares)		7,013,892
Issuance of common shares and pre-funded warrants in connection with public offering, net of offering costs	188,005	$ 117,941			70,064
Net loss	(145,437)		(145,437)
Ending balance (in shares) at Dec. 31, 2019		39,564,529
Ending balance at Dec. 31, 2019	245,681	$ 450,210	(290,709)	(6,659)	92,839
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares on exercise of stock options (in shares)		602,158
Issuance of common shares on exercise of stock options (note 11e)	15,430	$ 18,373			(2,943)
Issuance of common shares through employee stock purchase plan (in shares)		43,973
Issuance of common shares through employee stock purchase plan (note 11f)	1,618	$ 1,618
Stock-based compensation	26,945				26,945
Fair value adjustments upon reclassification of stock options to liabilities	(110)				(110)
Issuance of common shares and pre-funded warrants in connection with public offering, net of offering costs (in shares)		5,824,729
Issuance of common shares and pre-funded warrants in connection with public offering, net of offering costs	300,910	$ 254,018			46,892
Net loss	(180,552)		(180,552)
Ending balance (in shares) at Dec. 31, 2020		46,035,389
Ending balance at Dec. 31, 2020	$ 409,922	$ 724,219	$ (471,261)	$ (6,659)	$ 163,623

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net loss	$ (180,552)	$ (145,437)	$ (36,556)
Items not involving cash:
Depreciation and amortization of property and equipment	3,355	2,312	1,880
Amortization of intangible assets	4,160	3,113	1,750
Impairment of acquired IPR&D	0	768	0
Stock-based compensation (note 11e)	29,116	48,996	13,441
Amortization and impairment of operating lease right-of-use assets	2,764	1,906	0
Deferred income tax expense (recovery)	266	(726)	(17)
Non-cash consideration from licensing agreement	(218)	0	0
Change in fair value of contingent consideration liability (note 18)	307	271	237
Change in fair value of warrant liabilities (note 10)	0	0	3,565
Unrealized foreign exchange (gain) loss	(453)	504	(48)
Changes in non-cash operating working capital:
Accounts receivable	(13,107)	(1,828)	(119)
Prepaid expenses and other current assets	(3,519)	(8,680)	(251)
Accounts payable and accrued liabilities	7,618	21,572	3,684
Operating lease liabilities	(1,140)	(795)	0
Deferred revenue	0	(3,530)	36,471
Income taxes payable	0	(299)	140
Net cash (used in) provided by operating activities	(151,403)	(81,853)	24,177
Cash flows from financing activities:
Proceeds from public offerings, net of issuance costs (note 11a)	300,910	188,231	90,752
Issuance of common shares on exercise of stock options (note 11e)	7,111	5,498	682
Issuance of common shares through employee stock purchase plan (note 11f)	1,111	598	233
Deferred financing fees	(113)	(650)	(225)
Finance lease payments	(41)	(16)	(11)
Net cash provided by financing activities	308,978	193,661	91,431
Cash flows from investing activities:
Net redemptions (purchases) of short-term investments	13,325	(11,714)	(105,626)
Purchases of long-term investments	(50,500)	0	0
Acquisition of property and equipment	(4,310)	(6,322)	(803)
Acquisition of intangible assets	(1,955)	(7,556)	(2,617)
Net cash used in investing activities	(43,440)	(25,592)	(109,046)
Effect of exchange rate changes on cash and cash equivalents	(550)	30	(303)
Net change in cash and cash equivalents	113,585	86,246	6,259
Cash and cash equivalents, beginning of year	128,451	42,205	35,946
Cash and cash equivalents, end of year	242,036	128,451	42,205
Supplemental disclosure of non-cash investing and finance items:
Leased assets obtained in exchange for operating lease liabilities	2,407	7,026	0
Acquisition of property and equipment in accounts payable and accrued liabilities	130	607	382
Cashless exercise of warrants (note10)	$ 0	$ 0	$ 4,913

Nature of Operations	12 Months Ended
Nature of Operations	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations Zymeworks Inc. (the “Company” or “Zymeworks”) is a clinical-stage biopharmaceutical company dedicated to the development of next-generation multifunctional biotherapeutics. Zymeworks was incorporated on September 8, 2003 under the laws of the Canada Business Corporations Act. On October 22, 2003, the Company was registered as an extra-provincial company under the Company Act (British Columbia). On May 2, 2017, the Company continued under the Business Corporations Act (British Columbia). Since its inception, the Company has devoted substantially all of its resources to research and development activities, including developing its therapeutic platforms and identifying and developing potential product candidates by undertaking preclinical studies and clinical trials. The Company supports these activities through general and administrative support, as well as by raising capital, conducting business planning and protecting its intellectual property.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

The consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of Zymeworks Inc. and its wholly owned subsidiary, Zymeworks Biopharmaceuticals Inc., which was incorporated in the State of Washington on December 5, 2014. All inter-company accounts and transactions have been eliminated on consolidation.

All amounts expressed in the consolidated financial statements of the Company and the accompanying notes thereto are expressed in thousands of U.S. dollars, except for share and per share data and where otherwise indicated. References to “$” are to U.S. dollars and references to “C$” are to Canadian dollars.

Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.

Foreign Currency

The functional currency of the Company is the U.S. dollar. Transactions denominated in foreign currencies are translated at the approximate exchange rate prevailing on the date of the transaction. At period end, monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates in effect at the balance sheet date. Resulting foreign exchange gains and losses are reflected in the Consolidated Statements of Loss and Comprehensive Loss.

Use of Estimates

The preparation of consolidated financial statements in accordance with U.S. GAAP requires the Company to make estimates and judgments in certain circumstances that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, the Company evaluates its estimates, most notably those related to revenue recognition including estimated timing of completion of performance obligations required to meet revenue recognition criteria, accrual of expenses including clinical and preclinical study expense accruals, stock-based compensation, valuation allowance for deferred taxes, benefits under the Scientific Research and Experimental Development (“SR&ED”) program, and other contingencies. Management bases its estimates on historical experience and on various other assumptions that it believes to be reasonable under the circumstances. Actual results could differ from these estimates.

The full extent to which the COVID-19 pandemic may directly or indirectly impact the Company’s business, results of operations and financial condition, including revenues, expenses, clinical trials, research and development costs and employee-related amounts, will depend on future developments that are evolving and highly uncertain, such as the duration and severity of outbreaks, including potential future waves or cycles, and the effectiveness of actions taken to contain and treat COVID-19. The Company considered the potential impact of COVID-19 when making certain estimates and judgments relating to the preparation of these consolidated financial statements. While there was no material impact to the Company’s consolidated financial statements as of and for the year ended December 31, 2020, the Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in a material impact to the Company’s consolidated financial statements in future reporting periods.

Revenue Recognition

Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (“ASC 606” or “Topic 606”) applies to all contracts with customers, except for contracts that are within the scope of other standards, such as leases, insurance, collaboration arrangements and financial instruments. In accordance with ASC 606, the Company recognizes revenue when the Company’s customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services.

The Company applied ASC 606 to all revenue arrangements to date. For collaborative arrangements that fall within the scope of ASC 808, Collaborative Arrangements (“ASC 808”), the Company applies the revenue recognition model under ASC 606 to part or all of the arrangements, when deemed appropriate.

In accordance with ASC 606, the Company recognizes revenue when the Company’s customer obtains control of promised goods or services, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. In determining the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements, the Company performs the following steps: (i) identification of the promised deliverables in the contract; (ii) determination of whether the promised deliverables are performance obligations including whether they are distinct; (iii) measurement of the transaction price, including uncertainties related to variable consideration; (iv) allocation of the transaction price to the performance obligations based on the stand-alone selling prices; and (v) recognition of revenue when or as the Company satisfies each performance obligation.

The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration that it is entitled to in exchange for the goods and services transferred to the customer. At contract inception, the Company assesses the goods or services promised within each contract that falls under the scope of Topic 606, to identify distinct performance obligations. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when or as the performance obligation is satisfied.

The Company has entered into a number of collaboration and licensing agreements. Promised deliverables within these agreements may include: (i) grants of licenses, or options to obtain licenses, to the Company’s intellectual property, (ii) research and development services, (iii) drug product manufacturing, and (iv) participation on joint research and/or development committees. The terms of these agreements typically include one or more of the following types of payments to the Company:

• non-refundable, upfront license and platform technology access fees;

• research, development and regulatory milestone payments;

• research support payments; and

• royalties and commercial milestone payments.

If the expectation at contract inception is such that the period between payment by the licensee and the completion of related performance obligations will be one year or less, the Company assumes that the contract does not have a significant financing component.

When applying the revenue recognition criteria of ASC 606 to license and collaboration agreements, the Company may be required to apply significant judgment when evaluating whether contractual obligations represent distinct performance obligations, allocating transaction price to performance obligations within a contract, determining when performance obligations have been met, assessing the recognition and future reversal of variable consideration, and determining and applying appropriate methods of measuring progress for performance obligations satisfied over time. These judgments are discussed in more detail in the following paragraphs for each type of payment received by the Company under the terms of the license and collaborations agreements.

Non-refundable, upfront license and platform technology access fees

If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenue from non-refundable, upfront fees allocated to the license when the license is transferred to the licensee and the licensee is able to use and benefit from the license. For licenses that are not distinct from other promises, the Company uses judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue from non-refundable, upfront fees. The

Company evaluates the measure of progress each reporting period and, if necessary, adjusts the related revenue recognition accordingly.

Research, development and regulatory milestone payments

At the inception of each arrangement that includes research, development or regulatory milestone payments, the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. When it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the control of the Company or the licensee, such as regulatory approvals, are not considered probable of being achieved until those approvals are received. The transaction price is then allocated to each performance obligation on a relative stand-alone selling price basis, for which the Company recognizes revenue as or when the performance obligations under the contract are satisfied. At the end of each subsequent reporting period, the Company re-evaluates the probability of achievement of such development milestones and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect license, collaboration and other revenues and earnings in the period of adjustment. The probability of successfully achieving the criteria for the milestone payments is highly uncertain. Consequently, there is a significant risk that the Company may not earn all of the milestone payments from each of its strategic partners.

Research and development milestones in the Company’s collaboration agreements may include some, but not necessarily all, of the following types of events:

• completion of preclinical research and development work leading to selection of product candidates;

• initiation of Phase 1, Phase 2 and Phase 3 clinical trials; and

• achievement of certain other technical, scientific or development criteria.

Regulatory milestone payments may include the following types of events:

• filing of regulatory applications for marketing approval in the United States, Europe or Japan, including Investigational New Drug (“IND”) applications and Biologics License Application (“BLA”); and

• marketing approval in major markets, such as the United States, Europe or Japan.

Research support and other payments

Payments by the licensees in exchange for research activities performed by the Company on behalf of the licensee are recognized as revenue upon performance of such activities at rates consistent with prevailing market rates. Payments for research supplies provided are recognized as revenue upon delivery of the supplies.

Royalties and commercial milestone payments

For arrangements that include sales-based royalties, including commercial milestone payments based on pre-specified level of sales, the Company recognizes revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Achievement of these royalties and commercial milestones may solely depend upon performance of the licensee.

Contract assets and liabilities

Contract assets are mainly comprised of trade receivables net of expected credit losses, which includes amounts billed and currently due from customers.

Contract liabilities are mainly comprised of deferred revenues. Amounts received prior to satisfying all revenue recognition criteria are recorded as deferred revenue in the Company’s consolidated financial statements. Amounts not expected to be recognized as revenue within the next twelve months of the consolidated balance sheet date are classified as long-term deferred revenue.

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with original maturities of 90 days or less at the date of acquisition to be cash equivalents. Cash and cash equivalents consist primarily of money market funds and are recorded at cost, which approximates fair value.

Investments

The Company’s short-term and long-term investments include guaranteed investment certificates and term deposits with original maturities exceeding three months. These investments are recorded at cost plus accrued interest, which approximates their fair value.

The Company also holds debt securities and equity securities in private entities which are accounted for as available for sale financial instruments with changes in fair value recorded through other comprehensive income or at cost subject to impairment (note 5).

Accounts Receivable and Expected Credit Losses

Accounts receivable are recorded at invoiced amounts, net of any allowance for doubtful accounts. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in existing accounts receivable.

The Company evaluates the collectability of accounts receivable on a regular basis based upon various factors including the financial condition and payment history of customers, an overall review of collections experience on other accounts and economic factors or events expected to affect future collections experience. Expected credit losses on our accounts receivable were immaterial as at December 31, 2020 and 2019.

Deferred Financing Fees

Deferred financing fees consist of amounts charged by underwriters, attorneys, accountants and printers that are directly attributable to future financing transactions. These costs are deferred and subsequently charged against the gross proceeds of the related financing transaction upon closing of such transaction.

Segment Information

The Company operates and manages its business in one segment, which is the discovery, development and commercialization of next-generation multifunctional biotherapeutics. Operating segments are defined as components of an enterprise about which separate discrete information is available for the chief operating decision maker, or decision making group, in deciding how to allocate resources and assessing performance.

Property and Equipment

Property and equipment are recorded at cost net of accumulated depreciation. Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in earnings. Repairs and maintenance costs are expensed as incurred.

The Company records depreciation using the straight-line method over the estimated useful lives of the property and equipment as follows:


Asset Class						Rate
Computer hardware						3 years
Office equipment						3 years
Furniture and fixtures						5 years
Laboratory equipment						7 years
Leasehold improvements						Shorter of the initial lease term or useful life

Property and equipment acquired or disposed of during the year are depreciated proportionately for the period they are in use.

Leases

The Company accounts for leases in accordance with ASC 842, Leases, which was adopted on January 1, 2019. The Company elected not to adjust comparative periods presented and applied a modified retrospective transition approach as of the effective date of adoption. The Company determines if an arrangement contains a lease at inception. The adjustments due to the adoption of ASC 842 primarily related to the recognition of operating lease right-of-use (ROU) assets and operating lease liabilities. No adjustment was made to accumulated deficit as of January 1, 2020. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from that lease. For leases with a term greater than 12 months, ROU assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The lease term includes the option to extend the lease when it is reasonably certain the Company will exercise that option. When available, the Company uses the rate implicit in the lease to discount lease payments to present value. In the case the implicit rate is not available, the Company uses its incremental borrowing rate based on information available at the lease commencement date, to determine the present value of lease payments.

Patents and Intellectual Property Costs

Costs incurred to acquire patents and to prosecute and maintain intellectual property rights are expensed as incurred to general and administrative expense due to the uncertainty surrounding the drug development process and the uncertainty of future benefits. Patents and intellectual property acquired from third parties are capitalized and amortized over the remaining life of the patent, if related to approved products or if there are alternative future uses for the underlying technology. No patent or intellectual property costs have been capitalized to date.

Impairment of Long-Lived Assets

The Company assesses the recoverability of its long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the long-lived asset is measured by a comparison of the carrying amount of the asset to future undiscounted net cash flows expected to be generated by the asset or group of assets. If carrying value exceeds the sum of undiscounted cash flows, the Company then determines the fair value of the underlying asset. Any impairment to be recognized is measured by the amount by which the carrying amount of the asset group exceeds the estimated fair value of the asset or asset group. Assets classified as held for sale are reported at the lower of the carrying amount or fair value, less costs to sell. As of December 31, 2020 and 2019, the Company determined that there were no indicators of impairment of long-lived assets and there were no assets held-for-sale.

Government Grants and Credits

Government grants are recognized where there is reasonable assurance that the grant will be received and all associated conditions will be complied with. Reimbursements of eligible research and development expenditures pursuant to government assistance programs are recorded as reductions of research and development costs when the related costs have been incurred and there is reasonable assurance regarding collection of the claim.

Grant claims not settled by the balance sheet date are recorded as receivables, provided their receipt is probable. The determination of the amount of the claim, and hence the receivable amount, requires management to make calculations based on its interpretation of eligible expenditures in accordance with the terms of the programs. The reimbursement claims submitted by the Company are subject to review by the relevant government agencies. The Company has used its best judgment and understanding of the related program agreements in determining the receivable amount.

The Company participates in SR&ED and Research Tax Credit Programs, two federal tax incentive programs that encourage Canadian and U.S. businesses to conduct research and development in Canada and in United States, respectively. The benefits of investment tax credits for scientific research and development expenditures are recognized in the year the qualifying expenditure is made provided there is reasonable assurance of recoverability. These investment tax credits are recorded as reductions to research and development expenditures.

The Company also participates in the Canada Emergency Wage Subsidy (“CEWS”) program announced by the Government of Canada in April 2020, in order to help employers keep and/or return Canadian-based employees to payrolls in response to challenges posed by the COVID-19 pandemic. The Company recognizes CEWS grants when it is probable that it complied with relevant eligibility requirements and conditions of the grant and that the grant would be received.

Research and Development Costs

Research and development costs are expensed as incurred and include costs that the Company incurs for its own and for the Company’s strategic partners’ research and development activities. These costs primarily consist of expenses incurred under agreements with contract research organizations on the Company’s behalf, investigative sites and consultants that conduct the Company’s clinical trials, the cost of acquiring and manufacturing clinical trial materials and other allocated expenses, the cost of acquired research patents and intellectual property that do not meet the requirements for capitalization, employee related expenses, including salaries and benefits, stock-based compensation expense, and costs associated with nonclinical activities and regulatory approvals.

Clinical Trial Expense Accruals

Clinical trial expenses represent a significant component of research and development expenses and the Company outsources a significant portion of these activities to third party contract research organizations. Third-party clinical trial expenses include investigator fees, site costs, clinical research organization costs and other trial-related vendor costs. As part of preparing the consolidated financial statements, the Company estimates accrued liabilities for services that have been performed by clinical research organizations or investigator sites but have not yet been invoiced to the Company. When making these estimates, the Company uses operational and contractual information from third party service providers and operational data from internal personnel. The Company makes considerable judgements and estimates in determining the progress of patients based on enrollment and treatment data provided by the third-party service providers and internal personnel. The accrued balance factors in the Company’s best estimate of the date on which certain services commence, the level of services performed before a given date, whether certain services are invoiceable and the cost of such services. Any changes to the estimates could have a significant impact on the accruals for clinical trial activities outsourced to third party contract research organizations recorded by the Company. If the actual timing of provision of services or level of effort varies from the Company’s estimates, the Company adjusts research and development expense and accrued liabilities accordingly on a prospective basis.

Income Taxes

The Company accounts for income taxes using an asset and liability method. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The measurement of deferred tax assets is reduced, if necessary, by the extent of a valuation allowance. The recognition of uncertain tax positions is evaluated based on whether it is considered more likely than not that the position taken, or expected to be taken, on a tax return will be sustained upon examination through litigation or appeal. For those positions that meet the recognition criteria, they are measured as the largest amount that is more than 50% likely to be realized upon ultimate settlement.

Interest and tax penalties are expensed as incurred.

Stock-Based Compensation

The Company recognizes stock-based compensation expense on equity and liability classified stock-based awards granted to employees, directors, and certain consultants. The Company measures the cost of such awards based on the fair value of the award, net of estimated forfeitures, and recognizes stock-based compensation expense in the consolidated statements of loss and comprehensive loss on a straight-line basis over the requisite service period. The requisite service period generally equals the vesting period of the awards. The fair values of stock option awards are estimated using the Black-Scholes option pricing model which uses various inputs including estimated fair value of the Company’s underlying common share at the grant date, expected term, estimated volatility, risk-free interest rate and expected dividend yields of the Company’s common shares. The Company applies an estimated forfeiture rate derived from historical employee termination behavior. If the actual number of forfeitures differs from those estimated by management, adjustments to compensation expense may be required in future periods. The fair value of restricted stock units (“RSU”) is measured using the per share fair value of the Company’s common stock on the dates of grant.

Equity classified awards are measured using their grant date fair value. Liability classified awards are initially measured using their grant date fair value and are subsequently remeasured at fair value at each balance sheet date until exercised or cancelled, with changes in fair value recognized as compensation cost (ASC 718 awards) or other income and expenses (ASC 815 awards) for the period, while fair value changes below the grant date fair value of the original awards are recorded in additional paid-in capital.

ASC 718 “Compensation—Stock Options” (“ASC 718”), with an exercise price which is not denominated in: (a) the currency of a market in which a substantial portion of the Company’s equity securities trades, (b) the currency in which the individual’s pay is denominated, or (c) the Company’s functional currency, are required to be classified as liabilities. For awards accounted for under ASC 815 “Derivatives and Hedging” (“ASC 815”), any warrant or option that provides for an exercise price which is not denominated in the Company’s functional currency is required to be classified as a liability. Certain option awards which were classified as equity on grant dates were subsequently reclassified to liability upon the change of the compensation currency for certain executives and employees holding these option awards from Canadian dollars to U.S. dollars. Total fair value of these options on reclassification date were recorded as liability awards. Accumulated expense amount to reclassification date was reversed from additional paid-in capital and the remaining amount was recorded to the statement of loss on reclassification date.

The Company has an employee stock purchase plan which is considered compensatory. Accordingly, the Company recognizes compensation expense on these awards based on their estimated grant date fair value using the Black-Scholes option pricing model. The Company recognizes compensation expense in the consolidated statements of loss and comprehensive loss on a straight-line basis over the requisite service period.

Business Combinations and Goodwill

Business combinations are accounted for using the acquisition method. The fair value of total purchase consideration is allocated to the fair values of identifiable tangible and intangible assets acquired and liabilities assumed, with the remaining amount being classified as goodwill. All assets, liabilities and contingent liabilities acquired or assumed in a business combination are recorded at their fair values at the date of acquisition. If the Company’s interest in the fair value of the acquiree’s net identifiable assets exceeds the cost of the acquisition, the excess is recognized in earnings or loss immediately. Transaction costs that are incurred in connection with a business combination, other than costs associated with the issuance of debt or equity securities, are expensed as incurred.

Goodwill is evaluated for impairment on an annual basis or more frequently if an indicator of impairment is present (note 6). As part of the impairment evaluation, the Company may elect to perform an assessment of qualitative factors. If this qualitative assessment indicates that it is more likely than not that the fair value of the reporting unit that includes the goodwill is less than its carrying value, then a quantitative impairment test would be prepared to compare the fair value to the carrying value and record an impairment charge if the carrying value exceeds the fair value.

Acquired In-Process Research and Development (IPR&D) and Definite-lived Intangible Assets

Acquired IPR&D represents the fair value assigned to research and development assets that have not reached technological feasibility. IPR&D is classified as an indefinite-lived intangible asset and is not amortized. IPR&D becomes definite-lived upon the completion or abandonment of the associated research and development efforts. All research and development costs incurred subsequent to the acquisition of IPR&D are expensed as incurred. Indefinite-lived intangible assets are evaluated for impairment on an annual basis or more frequently if an indicator of impairment is present.

Definite-lived intangible assets include computer software and a research license and are amortized on a basis which reflects the pattern in which the economic benefits are consumed. Amortization begins when the assets are put into use. If there is an event indicating that the carrying value of a definite-lived intangible asset may be impaired, then the Company will perform an impairment test. When an impairment test is performed, if the carrying value exceeds the recoverable value, based on the sum of undiscounted future cash flows, then such asset is written down to its fair value.

Net loss per share

Basic net loss per share attributable to common shareholders is computed by dividing the net loss attributable to common shareholders by the weighted average number of common shares outstanding for the year. Diluted net loss per share attributable to common shareholders is computed by adjusting net loss attributable to common shareholders to reallocate undistributed earnings based on the potential impact of dilutive securities, including outstanding stock options and warrants. Diluted net loss per share attributable to common shareholders is computed by dividing the diluted net loss attributable to common shareholders by the weighted-average number of common shares outstanding for the year, including potential dilutive common shares assuming the dilutive effect of outstanding instruments. The treasury stock method is used to determine the dilutive effect of the Company’s stock option grants and warrants. ASC 260 “Earnings Per Share” requires an adjustment to the numerator for any income or loss related to ASC 815 liability classified warrants and stock options, if dilutive, if they are presumed to be share

settled. The stock options outstanding were all excluded from the calculation of diluted loss per share because their inclusion would have been anti-dilutive.

Recent Accounting Pronouncements	12 Months Ended
Recent Accounting Pronouncements	Dec. 31, 2020
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Initial adoption of new accounting pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses (Topic 326), in order to improve financial reporting of expected credit losses on financial instruments and other commitments to extend credit. ASU 2016-13 requires that an entity measure and recognize expected credit losses for financial assets held at amortized cost and replaces the incurred loss impairment methodology in prior GAAP with a methodology that requires consideration of a broader range of information to estimate credit losses. The Company adopted this accounting standard as of January 1, 2020. The adoption of this standard did not have any impact to the Company’s consolidated financial statements as credit losses at the transition date were not expected to be significant, based on the evaluation of the financial condition of payment partners, and external market factors. In August 2018, the FASB issued ASU 2018–13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this ASU eliminate, add and modify certain disclosure requirements for fair value measurements as part of its disclosure framework project. The standard is effective for the Company in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted this accounting standard as of January 1, 2020. The adoption of this new accounting standard did not have a significant impact on the Company’s consolidated financial statements. In August 2018, the FASB issued ASU 2018–15, Intangibles — Goodwill and Other — Internal Use Software (Subtopic 350–40). This ASU addresses the accounting for implementation costs incurred by a customer in a cloud computing arrangement that is a service contract and also adds certain disclosure requirements related to implementation costs incurred for internal-use software and cloud computing arrangements. The amendment aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted this accounting standard as of January 1, 2020 and has applied it prospectively to all implementation costs incurred after January 1, 2020. The adoption of this new accounting standard did not have a significant impact on the Company’s consolidated financial statements. Recent accounting pronouncements not yet adopted The Company has reviewed other recent accounting pronouncements and concluded that they are either not applicable to the business, or that no material impact is expected on the consolidated financial statements as a result of future adoption.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (g)(2)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI http://asc.fasb.org/topic&trid=2122394

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 65
-Paragraph 1
-Subparagraph (i)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Section S99
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=112272810&loc=SL108384541-122693

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (i)(2)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (g)(1)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
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-Paragraph 2
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-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SAB Topic 11.M.Q2)
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Net Loss per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Net Loss per Share

Net loss per share for the years ended December 31, 2020, 2019 and 2018 was as follows:


	Year Ended December 31,
	2020		2019		2018
Numerator:
Net loss attributable to common shareholders:
Basic and diluted	$	(180,552)	$	(145,437)	$	(36,556)

Denominator:
Weighted-average common shares outstanding:
Basic and diluted	50,382,497		38,022,014		29,089,896

Net loss per common share – basic and diluted	$	(3.58)	$	(3.83)	$	(1.26)

Weighted average number of common shares used in the basic and diluted earnings per share calculations include the pre-funded warrants issued in connection with the Company’s June 2019 and January 2020 offerings as the warrants are exercisable at any time for nominal cash consideration.

Investments	12 Months Ended
Investments	Dec. 31, 2020
Investments, All Other Investments [Abstract]
Investments	Investments Short-term Investments Short-term investments consist of guaranteed investment certificates (“GICs”) and term deposits purchased from financial institutions in accordance with the Company’s cash investment policy. Short-term GICs and term deposits bear interest at rates of 0.5%-1.6% per annum with original maturities of between 3 to 12 months, and are classified as held to maturity and are accounted for at amortized cost. Long-term Investments Long-term investments at December 31, 2020 consist of a GIC of $25,203 (December 31, 2019 - $nil) purchased from a financial institution in accordance with the Company’s cash investment policy and other debt and equity securities of $718 (December 31, 2019 - $nil) acquired for strategic purposes or in connection with licensing and collaboration agreements. Long-term GIC bear interest at rate of 1.0% per annum with original maturity of 24 months, is classified as held to maturity and is accounted for at amortized cost. Other long-term debt and equity securities are accounted for as available for sale financial instruments with changes in fair value recorded through other comprehensive income or at cost subject to impairment.

IPR&D and Goodwill

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

IPR&D and Goodwill

Acquired IPR&D

In-process research and development assets (“IPR&D”) acquired in the 2016 Kairos Therapeutics Inc. (“Kairos”) business combination are classified as indefinite-lived intangible assets and are not currently being amortized. The following table summarizes the carrying value of IPR&D, net of impairment:


	Acquired IPR&D		Accumulated Impairment		Net
Balance at December 31, 2017	$	20,700	$	(2,304)	$	18,396
Change during the period	—		—		—
Balance at December 31, 2018	$	20,700	$	(2,304)	$	18,396
Change during the period	—		(768)		(768)
Balance at December 31, 2019	$	20,700	$	(3,072)	$	17,628
Change during the period	—		—		—
Balance at December 31, 2020	$	20,700	$	(3,072)	$	17,628

For the year ended December 31, 2019, the Company recorded an impairment charge of $768 related to the fair value of IPR&D recognized in relation to collaboration efforts with VAR2 Pharmaceuticals ApS (“VAR2”) as the parties jointly decided not to pursue opportunities for the co-development and collaboration for antibody-based therapies. The Company concluded that IPR&D was not impaired as of December 31, 2020.

Goodwill

The Company performed its annual impairment test of goodwill as of December 31, 2020 and concluded that no impairment existed. As part of the evaluation of the recoverability of goodwill, the Company identified only one reporting unit to which the total carrying amount of goodwill has been assigned. As at December 31, 2020, the Company performed a qualitative assessment for its annual impairment test of goodwill after concluding that it was not more likely than not that the fair value of the reporting unit was less than its carrying value. Consequently, the quantitative impairment test was not required.

Property and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consist of the following:


	December 31,
	2020		2019
Computer hardware	$	2,691	$	2,438
Furniture and fixtures	1,559		1,248
Office equipment	971		729
Laboratory equipment	7,280		6,628
Leasehold improvements	9,054		6,374
Construction in progress	964		915
Property and equipment	$	22,519	$	18,332
Less accumulated depreciation	(10,334)		(7,232)
Property and equipment, net	$	12,185	$	11,100

Depreciation expense on property and equipment including assets acquired under capital leases for the years ended December 31, 2020, 2019 and 2018 was $3,355, $2,312 and $1,880, respectively.

Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets consist of the following:


	December 31,
	2020		2019
Research licenses and computer software	$	16,390	$	12,985
Less accumulated amortization	(11,087)		(6,928)
Intangible assets, net	$	5,303	$	6,057

Amortization expense on intangible assets for the years ended December 31, 2020, 2019 and 2018 was $4,160, $3,113 and $1,750, respectively.

At December 31, 2020, amortization expense on intangible assets is estimated to be as follows for each of the next five years:


	Amortization expense
2021	$	2,786
2022	$	583
2023	$	438
2024	$	427
2025	$	427
	$	4,661

Liabilities

12 Months Ended

Dec. 31, 2020

Payables and Accruals [Abstract]

Liabilities

Accounts payable and accrued expenses consisted of the following:


	December 31,
	2020		2019
Trade payables	$	6,244	$	5,349
Accrued research and development expenses	25,962		24,262
Employee compensation and vacation accruals	9,439		5,009
Accrued legal and professional fees	859		231
Other	1,151		840
Total	$	43,655	$	35,691

Other long term liabilities consisted of the following:


	December 31,
	2020		2019
Liability for contingent consideration (note18)	$	1,285	$	978
Liabilities from in-licensing agreements	1,450		—
Finance lease liability (note 16)	122		46
Total	$	2,857	$	1,024

Exercise of liability classified warrants	12 Months Ended
Exercise of liability classified warrants	Dec. 31, 2020
Debt Disclosure [Abstract]
Exercise of liability classified warrants	Exercise of liability classified warrants On June 2, 2016, the Company entered into a Credit Agreement (the “Perceptive Debt”) with Perceptive Credit Opportunities Fund L.P. and PCOF Phoenix II Fund L.P. (collectively, “Perceptive”). The total outstanding balance of the Perceptive Debt of $7,500 was repaid by the Company in 2017 ahead of the maturity date, pursuant to the terms of the Credit Agreement. Pursuant to the terms of the Perceptive Debt, the Company also issued Warrant Certificates which entitled Perceptive to purchase up to 398,076 common shares at an exercise price of $8.67 per share. During 2018, Perceptive exercised the warrants on a cashless basis for a net issuance of 206,361 common shares to Perceptive. The fair value of the Perceptive warrants increased by $3,565 during the period from January 1, 2018 to the date of exercise of these warrants which was recorded in other income (expense) in the consolidated statement of loss for the year ended December 31, 2018.

Shareholders' Equity

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

a.Equity Offerings

2018 Public Offering

On June 11, 2018, the Company closed an offering pursuant to which the Company sold 6,210,000 common shares including the sale of 810,000 common shares to the underwriters upon their full exercise of their over-allotment option at an offering price of $15.75 per share. The Company received net proceeds of approximately $90,752, after underwriting discounts, commissions and offering expenses of $7,056.

2019 Public Offering

On June 24, 2019, the Company closed an offering pursuant to which the Company sold 7,013,892 common shares including the sale of 1,458,336 common shares to the underwriters upon their full exercise of their over-allotment option at an offering price of $18.00 per common share and 4,166,690 Pre-Funded Warrants (note 11d) in lieu of common shares at $17.9999 per Pre-Funded Warrant. Net proceeds were approximately $188,005, after underwriting discounts, commissions and offering expenses of $13,245.

2020 Public Offering

On January 27, 2020, the Company closed a public offering pursuant to which the Company sold 5,824,729 common shares, including the sale of 900,000 common shares to the underwriters upon their full exercise of their over-allotment option, at $46.50 per common share and 1,075,271 Pre-Funded Warrants (note 11d) in lieu of common shares at $46.4999 per Pre-Funded Warrant. Net proceeds were $300,910, after underwriting discounts, commissions and offering expenses of $19,940.

b.Authorized

The Company has an unlimited authorized number of voting Common Shares and Preferred Shares without par value.

c.Preferred Shares

As of December 31, 2020 and 2019, no preferred shares were issued or outstanding, respectively.

Holders of Preferred Shares will be entitled to preference with respect to payment of dividends over the Common Shares and any other shares ranking junior to the Preferred Shares.

d.Pre-Funded Common Share Warrants

In connection with a public offering completed on June 24, 2019 (note 11a), the Company issued 4,166,690 Pre-Funded Warrants at a price of $17.9999 per Pre-Funded Warrant which granted holders of warrants the right to purchase up to 4,166,690 common shares of the Company, at an exercise price of $0.0001 per share.

In connection with a public offering completed on January 27, 2020 (note 11a), the Company issued 1,075,271 Pre-Funded Warrants at a price of $46.4999 per Pre-Funded Warrant which granted holders of warrants the right to purchase up to 1,075,271 common shares of the Company, at an exercise price of $0.0001 per share.

The Pre-Funded Warrants are exercisable by the holders at any time on or after the original issue date. The Pre-Funded Warrants do not expire unless they are exercised or settled in accordance with the Pre-Funded Warrant agreement. As the Pre-Funded Warrants meet the condition for equity classification, proceeds from issuance of the Pre-Funded Warrants, net of any transaction costs, are recorded in additional paid-in capital. Upon exercise of the Pre-Funded Warrants, the historical costs recorded in additional paid-in capital along with exercise price collected from holders will be recorded in common shares. No Pre-Funded Warrants have been exercised during the years ended December 31, 2020 and 2019.

e.Stock-Based Compensation

Original Stock Option Plan:

On July 14, 2006, the shareholders of the Company approved an employee stock option plan (the “Original Plan”). The Original Plan provides for the granting of options to directors, officers, employees and consultants. Options to purchase common shares may be granted at an exercise price of each option equal to the last private issuance of common shares immediately preceding the date of the grant. The total number of options outstanding is not to exceed 20% of the issued common shares of the Company.

Options granted under the Original Plan are exercisable at various dates over their 10-year life. Common shares are issued from treasury when options are exercised.

Options issued to employees under the Original Plan vest over 4 years, with 25% of the options subject to vesting one year after grant and the remainder of the options vesting monthly over the following three years in equal installments. Options issued to directors under the Original Plan vest over 3 years in equal monthly installments, and options issued to consultants and members of the Scientific Advisory Board under the Original Plan vest immediately upon issuance.

The exercise prices of the Company’s stock options under the Original Plan are denominated in Canadian dollars. The Canadian dollar amounts have been translated to U.S. dollars using the period end rate or the average foreign exchange rate for the period, as applicable, and have been provided for information purposes. Upon the effectiveness of the Company’s New Stock Option Plan described below, no further options were issuable under the Original Plan. However, all outstanding options granted under the Original Plan remain outstanding, subject to the terms of the Original Plan and the applicable grant documents, until such outstanding options are exercised or they terminate or expire by their terms.

New Stock Option and Equity Compensation Plan

On April 10, 2017, the Company’s shareholders approved a new stock option plan, which became effective immediately prior to the consummation of the Company’s IPO. This plan allows for the grant of options to directors, officers, employees and consultants in U.S. or Canadian dollars, and also permits the Company to grant incentive stock options (“ISOs”), within the meaning of Section 422 of the Internal Revenue Code, to its employees. On June 7, 2018, the Company’s shareholders approved an amendment and restatement of this plan (this plan, as amended and restated, the “New Plan”), which was further amended on March 4, 2020, that includes an article that allows the Company to grant restricted shares, restricted share units (“RSUs”) and other share-based awards, in addition to stock options. The terms and vesting provisions of options to be granted under the New Stock Option Plan remained same as the Original Stock Option Plan.

The maximum number of common shares reserved for issuance under the New Plan is 8,654,682, which includes 6,075,895 shares issuable upon exercise of stock options outstanding as of December 31, 2020. Beginning in 2020 and ending in 2028, this maximum number may be increased on the first day of each calendar year by up to 4.0% of the number of outstanding shares on the last day of the immediately preceding calendar year. ISOs may be granted with respect to a maximum fixed amount equal to 20% of the shares reserved for issuance under the New Plan as of June 7, 2018.

RSUs

During the year ended December 31, 2020, the Company granted RSUs to certain employees that vest over a period of three years, in the amount of one-third each year on the anniversary of the grant date. RSUs are equity-settled on each vesting date, subject to the grantee’s continued employment with the Company on the vesting date. The fair value of RSUs granted was calculated by using the Company’s closing stock price on the grant date.


	Number of RSUs	Weighted- average grant date fair value ($)
Outstanding, December 31, 2019	—	—
Granted	82,704	35.19
Vested and settled	—	—
Forfeited	—	—
Outstanding, December 31, 2020	82,704	35.19

As of December 31, 2020, there was $1,510 of unamortized RSU expense that will be recognized over a weighted average period of 1.56 years.

Stock Options

All options granted under the New Plan will have an exercise price determined and approved by the Board on the date of the grant, which shall not be less than the market price of the common shares at such time. For the purposes of the New Plan, the market price of a common share shall be the closing sale price of a share on the grant date reported by the stock exchange with the greatest trading volume or, if such day is not a trading day, the closing sale price reported for the immediately preceding trading day. The Company may convert a market price denominated in Canadian dollars into United States dollars and vice versa and such converted amount shall be the market price.

An option shall be exercisable during a period established by the Board which shall commence on the date of the grant and shall terminate not later than ten years after the date of the granting of the option. The New Plan provides that the exercise period shall automatically be extended if the date on which it is scheduled to terminate shall fall during a black-out period. In such cases, the extended exercise period shall terminate on the tenth business day after the last day of the black-out period, provided that the exercise period shall in no case be extended beyond the tenth anniversary of the date the option was granted. All options shall vest in accordance with the terms of their grant agreements.

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, 2018	2,445,990	14.66	10.74	6.99	14,421	10,571
Granted	358,800	22.92	17.14
Expired	(1,047)	4.75	3.65
Exercised	(403,553)	12.53	9.46
Forfeited	(43,777)	18.42	13.91
Outstanding, December 31, 2019	2,356,413	16.21	12.46	6.70	101,404	77,807
Granted	413,750	49.22	36.25
Expired	—	—	—
Exercised	(404,963)	13.82	10.48
Forfeited	(79,631)	33.89	25.30
Outstanding, December 31, 2020	2,285,569	22.00	17.27	6.46	87,545	68,664
December 31, 2020
Exercisable	1,594,793	15.89	12.46	5.42	70,665	55,424
Vested and expected to vest	2,244,532	21.72	17.03	6.35	86,461	67,814

The following table summarizes the Company’s stock options granted in U.S. dollars under the New Plan:


	Number of Options	Weighted- Average Exercise Price ($)	Weighted- Average Contractual Term (years)	Aggregate intrinsic value ($)
Outstanding, December 31, 2018	1,539,778	11.67	9.02	4,876
Granted	1,501,750	19.89
Expired	—	—
Exercised	(126,108)	13.32
Forfeited	(62,074)	14.91
Outstanding, December 31, 2019	2,853,346	15.85	8.66	84,481
Granted	1,247,550	37.11
Expired	—	—
Exercised	(197,195)	14.59
Forfeited	(113,375)	18.01
Outstanding, December 31, 2020	3,790,326	22.85	8.20	92,705
December 31, 2020
Exercisable	1,500,039	14.20	7.42	49,588
Vested and expected to vest	3,655,033	22.61	8.18	90,264

During the year ended December 31, 2020, the Company received cash proceeds of $7,111 (2019: $5,498, 2018: $682) from stock options exercised. The stock options outstanding at December 31, 2020 expire at various dates from July 1, 2021 to December 9, 2030.

A summary of the non-vested stock option activity and related information of the Company’s stock options granted in Canadian dollars is as follows:


	Number of options	Weighted-average grant date fair value (C$)	Weighted- average grant date fair value (US$)
Non-vested, December 31, 2019	733,129	16.03	12.30
Options granted	413,750	32.42	25.43
Options vested	(377,519)	18.76	14.71
Options forfeited and cancelled	(78,584)	24.90	19.53
Non-vested, December 31, 2020	690,776	24.44	19.17

A summary of the non-vested stock option activity and related information of the Company’s stock options granted in U.S. dollars is as follows:


	Number of options	Weighted- average grant date fair value (US$)
Non-vested, December 31, 2019	2,140,923	11.21
Options granted	1,247,550	24.55
Options vested	(984,811)	10.54
Options forfeited and cancelled	(113,375)	10.83
Non-vested, December 31, 2020	2,290,287	18.75

The estimated fair values of options granted to officers, directors, employees and consultants are amortized over the relevant vesting periods. Stock-based compensation expense for equity classified instruments, as well as the financial statement impact of the amortization and periodic revaluation of liability classified instruments (note 2), are recorded in research and development expenses, general and administration expense and finance expense as follows:


	Year Ended December 31,
	2020		2019		2018
Research and development expense:
Stock-based compensation for equity classified instruments	$	12,299	$	5,939	$	2,203
Change in fair value of liability classified instruments	(6)		8,358		2,032
	$	12,293	$	14,297	$	4,235
General and administrative expense:
Stock-based compensation for equity classified instruments	$	14,645	$	6,737	$	3,693
Change in fair value of liability classified instruments	1,416		27,470		5,362
	$	16,061	$	34,207	$	9,055
Finance expense (income):
Stock-based compensation for equity classified instruments	$	—	$	—	$	1
Change in fair value of liability classified instruments	(41)		166		150
	$	(41)	$	166	$	151

Amounts for equity classified instruments above include stock-based compensation expense relating to RSUs of $1,387 for the year ended December 31, 2020 (2019 and 2018: $nil).

For the year ended December 31, 2020, stock-based compensation expense of $26,945 was recorded in additional paid-in capital and $2,171 was recorded in the liability classified stock options and ESPP liability accounts (2019: $12,676 in additional paid-in capital and $36,320 in liability classified stock options and ESPP liability accounts, 2018: $3,876 in additional paid-in capital including the impact for the minimum amount of compensation expense based on the grant date fair value of the original awards and $7,658 in liability classified stock options and ESPP liability accounts).

The estimated fair value of stock options granted in Canadian dollars under the Original Plan and the New Plan was determined using the Black-Scholes option pricing model with the following weighted-average assumptions:


	Year ended December 31,
	2020		2019		2018
Dividend yield	0	%	0	%	0	%
Expected volatility	76.33	%	73.59	%	66.25	%
Risk-free interest rate	0.60	%	1.47	%	2.18	%
Expected average life of options	6.07 years		6.05 years		5.91 years

The estimated fair value of stock options granted in U.S. dollars under the New Plan was determined using the Black-Scholes option pricing model with the following weighted-average assumptions:


	Year ended December 31,
	2020		2019		2018
Dividend yield	0	%	0	%	0	%
Expected volatility	76.95	%	73.15	%	66.78	%
Risk-free interest rate	0.68	%	2.23	%	2.69	%
Expected average life of options	6.03 years		6.03 years		5.88 years

Expected Volatility — Volatility is a measure of the amount by which a financial variable such as a share price has fluctuated (historical volatility) or is expected to fluctuate (expected volatility) during a period. As the Company does not yet have sufficient history of its own volatility, the Company has identified several public entities of similar complexity and stage of development and calculates historical volatility using the volatility of these companies.

Risk-Free Interest Rate — This rate is from the Government of Canada and U.S. Federal Reserve marketable bonds for the month prior to each option grant during the year, having a term that most closely resembles the expected life of the option.

Expected Term — This is the period of time that the options granted are expected to remain unexercised. Options granted have a maximum term of ten years. The Company uses the simplified method to calculate the average expected term, which represents the average of the vesting period and the contractual term.

Share Fair Value — Options granted after the Company’s IPO are issued with exercise price equal to the fair market value of the Company’s stock on the date the grant is approved by the Board. Before the IPO, the Company granted stock options at exercise prices not less than the fair value of its common shares as determined by the Board, with input from management. Management estimated the fair value of its common shares based on a number of objective and subjective factors, including the most recently available valuation of common shares prepared by independent valuation specialists, external market considerations affecting the biotechnology industry and the historic prices at which the Company sold common shares.

The weighted-average Black-Scholes option pricing assumptions for liability classified stock options outstanding at December 31, 2020 and 2019 are as follows:


	December 31, 2020		December 31, 2019
Dividend yield	0	%	0	%
Expected volatility	77.20	%	76.09	%
Risk-free interest rate	0.43	%	1.68	%
Expected average option term	2.47 years		3.38 years
Number of liability classified stock options outstanding	1,028,676		1,249,365

The total intrinsic value of stock options exercised during the years ended December 31, 2020, 2019 and 2018 was $19,446, $9,416 and $2,388 respectively. At December 31, 2020, the unamortized compensation expense related to unvested options was $27,352. The remaining unamortized compensation expense as of December 31, 2020 will be recognized over a weighted-average period of 1.8 years.

f.Employee Stock Purchase Plan:

On April 10, 2017, the Company’s shareholders approved an employee stock purchase plan (“ESPP”) which became effective immediately prior to the consummation of the Company’s IPO. On June 7, 2018, certain amendments to the ESPP were approved by shareholders. Prior to these amendments, the ESPP allowed eligible employees to acquire common shares at a discounted purchase price of 85% of the market value of the Company’s common shares on the purchase date. The ESPP, as amended, allows eligible employees to acquire common shares at a discounted purchase price of the lesser of (i) 85% of the market price of a common share on the first day of the applicable purchase period and (ii) 85% of the market price of a common share on the purchase date. The ESPP qualifies as an “employee stock purchase plan” within the meaning of Section 423 of the Code for employees who are United States taxpayers.

The Company currently holds offerings consisting of a single six-month purchase period commencing on January 1 and July 1 of each calendar year, with a single purchase date at the end of the purchase period on June 30 and December 31 of each calendar year.

Eligible employees are able to contribute up to 15% of their gross base earnings for purchases under the ESPP through regular payroll deductions. Purchases of shares under the ESPP are limited for each employee at $25 thousand worth of the Company’s common shares (determined using the lesser of (i) the market price of a common share on the first day of the applicable purchase period and (ii) the market price of a common share on the purchase date) for each year such purchase right is outstanding.

As this plan is considered compensatory, the Company recognizes compensation expense on these awards based on their estimated grant date fair value using the Black-Scholes option pricing model. The Company recognizes compensation expense in the consolidated statements of loss and comprehensive loss on a straight-line basis over the requisite service period. For the year ended December 31, 2020, the Company recorded compensation expense of $803 (2019: $326) in research and development expense and general and administrative expense accounts. As of December 31, 2020, the total amount contributed by ESPP participants and not yet settled is $926 (December 31, 2019: $435).

Government Grants and Credits

12 Months Ended

Dec. 31, 2020

Government Grants and Credits [Abstract]

Government Grants and Credits


	Year Ended December 31,
	2020		2019		2018
CEWS and other subsidies	$	3,031	$	—	$	—
SR&ED credits (expense), net	$	142	$	110	$	(5)
Total	$	3,173	$	110	$	(5)

In April 2020, the Government of Canada announced the CEWS program for Canadian employers whose businesses were affected by the COVID-19 pandemic. The CEWS provides a subsidy of up to a certain percentage of eligible employees’ eligible remuneration, subject to certain criteria. The Company applied for the CEWS to the extent it met the requirements to receive the subsidy and recognized $3,005 in total subsidies during the year ended December 31, 2020 as a reduction to salaries and benefits expense in research and development expense and general administrative expense in the consolidated statement of loss and comprehensive loss.

For the year ended December 31, 2020, the Company recognized refundable investment tax credits of $142 as a reduction of research and development expense. Although the Company has used its best judgment and understanding of the related income tax legislation in determining its claims, it is possible the amounts could increase or decrease materially in the future, as the Canada Revenue Agency and Revenue Québec reserve the right to review and audit the investment tax credit claims.

Research, Collaboration and Licensing Agreements

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Research, Collaboration and Licensing Agreements

Revenue recognized from the Company’s strategic partnerships is summarized as follows:


	Year ended December 31,
	2020		2019		2018
BeiGene:
Milestone revenue	$	15,000	$	—	$	—
Recognition of upfront fee	—		3,530		23,530
BMS:
Upfront fee relating to amendment	12,000		—		—
Option exercise fee	—		7,500		4,000
Iconic:
Partner revenue	4,000		—		—
Milestone revenue	—		1,000		—
Merck:
Milestone revenue	—		2,000		—
Lilly:
Milestone revenue	—		8,000		2,000
Daiichi Sankyo:
Technology access fee	—		—		18,000
Commercial license option fee	—		3,500		—
LEO:
Recognition of upfront fee	—		—		5,000
Research support payments and other payments	7,951		4,014		489
	$	38,951	$	29,544	$	53,019

Contract Assets and Liabilities

As at December 31, 2020 and 2019, contract assets from research, collaboration and licensing agreements were $nil and contract liabilities were $32,941. Contract liabilities relate to deferred revenue from the BeiGene agreement described below.

2020 Agreements:

In July 2020, the Company entered into a new licensing agreement with Merck granting Merck a worldwide, royalty-bearing license to research, develop and commercialize up to three new multispecific antibodies toward Merck’s therapeutic targets in the human health field and up to three new multispecific antibodies toward Merck’s therapeutic targets in the animal health field using the Company’s Azymetric and EFECT platforms. The Company is eligible to receive up to $419.3 million in option exercise fees and clinical development and regulatory approval milestone payments and up to $502.5 million in commercial milestone payments, as well as tiered royalties on worldwide sales.

2019 and prior agreements:

Research and License Agreement with Merck Sharp & Dohme Research Ltd. (“Merck”)

On August 22, 2011, the Company entered into a research and license agreement with Merck, which was amended and restated in December 2014, to develop and commercialize three bispecific antibodies generated through the use of the Company’s Azymetric and EFECT platforms. Under the terms of the agreement, the Company granted Merck a worldwide, royalty-bearing antibody sequence pair exclusive license to research, develop and commercialize certain licensed products. The amendments did not impact the determination of units of accounting or the allocation of the arrangement consideration.

Over the life of the agreement, the Company is eligible to receive payments up to $190.75 million, for various license and milestone payments including an upfront payment. From contract inception to December 31, 2020, the Company has received an upfront payment of $1.25 million and research and development related payments totaling $5.5 million. The Company is eligible to receive additional payments for completion of investigational new drug (“IND”) enabling studies of up to $4.0

million, development milestone payments of up to $66.0 million and commercial milestone payments of up to $114.0 million. In addition, the Company is eligible to receive tiered royalties in the low to mid-single digits on product sales. Merck will have exclusive worldwide commercialization rights to products derived from the agreement. The events and conditions resulting in payments for research, development and commercial milestones solely depend on Merck’s performance.

Licensing and Collaboration Agreement with Eli Lilly and Company (“Lilly”)

On December 17, 2013, the Company entered into a Licensing and Collaboration Agreement with Lilly to develop novel bispecific antibody therapeutics using the Company’s proprietary Azymetric platform. The Company will apply its Azymetric platform in combination with Lilly’s proprietary targets to create novel bispecific antibodies which Lilly will have the right to develop and commercialize worldwide.

The Company is eligible to receive up to $52.0 million for various license and milestone payments. From contract inception to December 31, 2020, the Company has received an upfront payment of $1.0 million and research and development related payments of $3.0 million. The Company is eligible to receive additional development milestone payments of up to $8.0 million and commercial milestone payments of up to $40.0 million. In addition, the Company is eligible to receive tiered royalties in the low to mid-single digits on product sales. Over the life of the agreement, the Company will receive funding for internal and external research costs incurred on behalf of Lilly on the project. Lilly will have exclusive worldwide commercialization rights to products derived from the collaboration. The Company determined that other than the research milestone, the events and conditions resulting in payments for development and commercial milestones solely depend on Lilly’s performance.

Lilly was a related party during 2018 but was not considered to be a related party as of December 31, 2018 and thereafter.

Licensing and Collaboration Agreement with Lilly

On October 22, 2014, the Company entered into a second Licensing and Collaboration Agreement with Lilly to develop novel bispecific antibody therapeutics using the Company’s proprietary Azymetric platform. This agreement did not alter or amend the initial agreement entered into on December 17, 2013. Under the terms of this agreement Lilly was granted a worldwide, royalty-bearing antibody sequence pair-specific license to research, develop and commercialize certain licensed products. Each of the two agreements with Lilly were negotiated independently and the deliverables covered by the respective contracts are unrelated to one another as they cover different product candidates. Accordingly, the second Licensing and Collaboration Agreement with Lilly has been accounted for as a new arrangement.

The Company is eligible to receive up to $125.0 million in various license and milestone payments. From contract inception to December 31, 2020, the Company has received research and development related payments totaling $10.0 million. The Company is eligible to receive additional development milestone payments of up to $20.0 million and commercial milestone payments of up to $95.0 million. In addition, the Company is eligible to receive tiered royalties in the low to mid-single digits on product sales. Lilly will have exclusive worldwide commercialization rights to products derived from the collaboration. The Company determined that other than one specific research milestone, the events and conditions resulting in payments for development and commercial milestones solely depend on Lilly’s performance.

Licensing and Collaboration Agreement with Celgene Corporation & Celgene Alpine Investment Co. LLC (formerly “Celgene” and now a Bristol- Myers Squibb company, “BMS”)

On December 23, 2014, the Company entered into an agreement with Celgene (now “BMS”) to develop novel bispecific antibody therapeutics using the Company’s proprietary Azymetric platform. The Company will apply its Azymetric platform in combination with BMS’s proprietary targets to create novel bispecific antibodies for which BMS has an option to develop and commercialize a certain number of products (“Commercial License Option”).

Upon the execution of the Agreement, the Company received an upfront payment of $8.0 million and an expansion fee of $4.0 million. BMS has the right to exercise options on up to ten programs and if BMS opts in on a program, the Company is eligible to receive up to $164.0 million per product candidate (up to $1.64 billion for all ten programs), comprised of a commercial license option payment of $7.5 million, development milestone payments of up to $101.5 million and commercial milestone payments of up to $55.0 million. From contract inception to December 31, 2020, BMS has exercised one commercial license option and the Company has received a total of $7.5 million in product candidate-specific payments. After conclusion of BMS’s research period, BMS will be solely responsible for the research, development, manufacturing and commercialization of the products. In addition, the Company is eligible to receive tiered royalties calculated upon the global net sales of the resulting products. BMS will have exclusive worldwide commercialization rights to products derived from the agreement if BMS elects

to exercise a Commercial License Option for each product. The Company determined that, the events and conditions resulting in payments for research, development and commercial milestones solely depend on BMS’s performance.

In June 2020, the Company’s existing collaboration agreement with BMS was amended to expand the license grant to include the use of the Company’s EFECT platform for the development of therapeutic candidates and to extend the research term. The amendment included an upfront fee of $12.0 million and all other financial terms were unchanged. The Company’s performance obligations in relation to the upfront fee were met on the date of amendment. Accordingly, the upfront payment was recognized as revenue during the year ended December 31, 2020.

Collaboration and License Agreement with GlaxoSmithKline Intellectual Property Development Ltd. (“GSK”)

On December 1, 2015, the Company entered into a Collaboration and License Agreement with GSK for the research, development, and commercialization of novel Fc-engineered monoclonal and bispecific antibody therapeutics, which have been optimized for specific therapeutic effects. The Company and GSK will collaborate to further develop the Company’s EFECT platform through the design, engineering, and testing of novel engineered Fc domains tailored to induce specific antibody-mediated immune responses.

At the conclusion of the research collaboration, both GSK and the Company will have the right to develop and commercialize monoclonal and bispecific antibody candidates that incorporate the Company’s optimized immune-modulating Fc domains.

Under the terms of the agreement, GSK will have the right to develop a minimum of four products across multiple disease areas, and the Company will be eligible to receive up to $1.1 billion, including research, development, and commercial milestones of up to $110.0 million for each product. In addition, the Company is eligible to receive tiered sales royalties. Under the terms of the agreement, each party is liable for their own internal and external research costs incurred in the project. Furthermore, the Company will have the right to develop up to four products with the intellectual property arising from the collaboration without any royalty or milestone payment to GSK. The Company determined that, the events and conditions resulting in payments for research, development and commercial milestones solely depend on GSK’s performance.

No development or commercial milestone payments or royalties have been received to date.

Platform Technology Transfer and License Agreement with GSK

On April 21, 2016, the Company entered into a Platform Technology Transfer and License Agreement with GSK for the research, development, and commercialization of novel bispecific antibodies enabled using the Company’s Azymetric platform. Each of the two agreements with GSK were negotiated independently and the deliverables covered by the respective contracts utilize different therapeutic platforms and are unrelated to one another. Accordingly, the Platform Technology and License Agreement with GSK has been accounted for as a new arrangement. In May 2019, this agreement was expanded to provide GSK access to the Company’s unique heavy-light chain pairing technology under the Azymetric platform. This may include bispecific antibodies incorporating new engineered Fc regions generated under the 2015 GSK agreement.

The Company is eligible to receive up to $1.1 billion in milestone and other payments. From contract inception to December 31, 2020, the Company has received an upfront technology access fee payment of $6.0 million. The Company is also eligible to receive research milestone payments of up to $37.5 million, development milestone payments of up to $183.5 million and commercial milestone payments of up to $867.0 million. In addition, the Company is entitled to receive tiered royalties on potential sales. The Company determined that, the events and conditions resulting in payments for research, development and commercial milestones solely depend on GSK’s performance.

No research, development or commercial milestone payments or royalties have been received to date.

Collaboration and Cross License Agreement with Daiichi Sankyo, Co., Ltd. (“Daiichi Sankyo”)

On September 26, 2016, the Company entered into a Collaboration and Cross License Agreement with Daiichi Sankyo for the research, development, and commercialization of novel bispecific antibodies enabled using the Company’s Azymetric and EFECT platforms. Additionally, the Company will license immuno-oncology antibodies from Daiichi Sankyo, with the right to research, develop and commercialize multiple products globally in exchange for royalties on product sales. Under the agreement, Daiichi Sankyo will have the option to develop and commercialize a single bispecific immuno-oncology therapeutic.

The Company is also eligible to $149.9 million in milestone and other payments. From contract inception to December 31, 2020, the Company has received an upfront technology access fee payment of $2.0 million and research and commercial option related payments totaling $4.5 million. The Company is also eligible to receive additional development milestone payments of up to $63.4 million, and commercial milestone payments of up to $80.0 million. In addition, the Company is eligible to receive tiered royalties ranging from the low single digits up to 10% on product sales. The Company also has non-exclusive rights to develop and commercialize up to three products using Daiichi Sankyo’s proprietary immune-oncology antibodies, with royalties in the low single digits to be paid to Daiichi Sankyo on sales of such products. Daiichi Sankyo is solely responsible for the research, development, manufacturing and commercialization of the products. Under the non-exclusive immuno-oncology antibody license to Zymeworks, Zymeworks is solely responsible for all research, development and commercialization of the resulting products.

Second License Agreement with Daiichi Sankyo

In May 2018, the Company entered into a second license agreement with Daiichi Sankyo to research, develop and commercialize two bispecific antibodies generated through the use of the Company’s Azymetric and EFECT platforms. Under the terms of the agreement, the Company granted Daiichi Sankyo a worldwide, royalty-bearing, antibody sequence pair-specific, exclusive license to research, develop and commercialize certain products. Under the agreement, Daiichi Sankyo will be solely responsible for the research, development, manufacturing and commercialization of the products.

The Company is also eligible to receive up to $484.7 million in various milestone and other payments. From contract inception to December 31, 2020, the Company has received an upfront technology access fee payment of $18.0 million. The Company is also eligible to receive development milestone payments totaling up to $126.7 million and commercial milestone payments of up to $340.0 million. In addition, the Company is eligible to receive tiered royalties ranging from the low single digits up to 10% on product sales, with the royalty term being, on a product-by-product and country-by-country basis, either (i) for as long as there is Zymeworks platform patent coverage on products, or (ii) for 10 years beginning from the first commercial sale, whichever period is longer. If there is no Zymeworks patent coverage on products, royalty rates may be reduced.

No development or commercial milestone payments or royalties have been received to date.

Collaboration and License Agreement with Janssen Biotech, Inc. (“Janssen”)

On November 13, 2017, the Company entered into a Collaboration and License Agreement with Janssen to research, develop and commercialize up to six bispecific antibodies generated through the use of the Azymetric and EFECT platforms. Under the terms of the agreement, the Company granted Janssen a worldwide, royalty-bearing, antibody sequence pair-specific exclusive license to research, develop and commercialize certain products. Janssen also has the option to develop two additional bispecific antibodies under this agreement subject to a future option payment. Under the agreement, Janssen will be solely responsible for the research, development, manufacturing and commercialization of the products.

The Company is eligible to $1.45 billion in various license and milestone payments. From contract inception to December 31, 2020, the Company has received an upfront payment of $50.0 million. The Company is also eligible to receive development milestone payments of up to $282.0 million and commercial milestone payments of up to $1.12 billion. In addition, Company is eligible to receive tiered royalties in the mid-single digits on product sales, with the royalty term being, on a product-by-product and country-by-country basis, either (i) for as long as there is Zymeworks platform patent coverage on products, or (ii) for 10 years, beginning from the first commercial sale, whichever period is longer. If there is no Zymeworks patent coverage on products, royalty rates may be potentially reduced. Janssen has the right, prior to the first dosing of a patient in a Phase 3 clinical trial for a product, to buy down the royalty relating to such product by one percentage point with a payment of $10.0 million. The Company determined that, the events and conditions resulting in payments for research, development and commercial milestones solely depend on Janssen’s performance.

No development or commercial milestone payments or royalties have been received to date.

Research and License Agreement with LEO Pharma A/S (“LEO”)

On October 23, 2018, the Company entered into a collaboration agreement with LEO. The Company granted LEO a worldwide, royalty-bearing, antibody sequence pair-specific exclusive license to research, develop and commercialize two bispecific antibodies, generated through the use of the Company’s Azymetric and EFECT platforms, for dermatologic indications. The Company will retain rights to develop antibodies resulting from this collaboration in all other therapeutic areas. The Company

and LEO are jointly responsible for certain research activities, with the Company’s cost to be fully reimbursed by LEO. Each party is solely responsible for the development, manufacturing, and commercialization of their own products.

Pursuant to this agreement, the Company received an upfront payment of $5.0 million in 2018. In addition, (i) for the first therapeutic candidate, the Company is eligible to receive preclinical and development milestone payments of up to $74.0 million and commercial milestone payments of up to $157.0 million together with tiered royalties on future sales of up to 20% in the United States and up to high single digits elsewhere, and (ii) for the second therapeutic candidate, the Company is eligible to receive preclinical and development milestone payments of up to $86.5 million and commercial milestone payments of up to $157.0 million together with tiered royalties on future sales of up to low double digits globally. For products developed by the Company outside of dermatology, LEO is eligible to receive commercial milestone payments and up to single-digit royalties on future sales.

No development or commercial milestone payments or royalties have been received to date.

Collaboration and License Agreements with BeiGene, Ltd. (“BeiGene”)

On November 26, 2018, the Company entered into three concurrent agreements with BeiGene whereby the Company granted BeiGene royalty-bearing exclusive licenses for the research, development and commercialization of its bispecific therapeutic candidates, zanidatamab (formerly known as “ZW25”) (“Zanidatamab Agreement”) and ZW49 (“ZW49 Agreement”) in Asia (excluding Japan but including the People’s Republic of China, South Korea and other countries), Australia and New Zealand. In addition, the Company also granted BeiGene a worldwide, royalty-bearing, antibody sequence pair-specific license to research, develop and commercialize globally three bispecific antibodies generated through the use of the Company’s Azymetric and EFECT platforms.

Pursuant to these agreements, the Company received an upfront payment of $60.0 million in 2018 for the totality of the rights described. The Company considered the fair value of performance obligations based on the Company’s best estimate of their relative stand-alone selling prices, and allocated $40.0 million of transaction price to the License and Collaboration Agreements for zanidatamab and ZW49 and $20.0 million to the Company’s performance obligations under the Research and Licensing Agreement for Azymetric and EFECT Platforms.

License and Collaboration Agreements for Zanidatamab and ZW49

The Company is also eligible to receive development and commercial milestone payments of up to $390.0 million, together with tiered royalties from high single digits and up to 20% on future sales of the products. Under the agreements, the Company and BeiGene are collaborating on certain global clinical studies and both the Company and BeiGene will be independently conducting clinical studies in their own respective territories. Each of the Company and BeiGene are responsible for all the development and commercialization costs in their own territories.

In relation to the Zanidatamab Agreement, the Company identified the following promised goods and services at the inception of the BeiGene agreement that are material: development and commercial licenses, initial transfer of the Company’s technologies and relevant know-how, continuing technology transfer, participation in the Joint Steering Committee (“JSC”) and other sub-committees, manufacturing technology transfer, provision of development supply, provision of commercial supply, and transfer of future rights related to the development and commercial license. The Company concluded that the licenses and initial technology transfer are distinct together and the continuing technology transfer and the Company’s participation to the JSC and other sub-committees’ activities are also distinct together. Remaining deliverables were individually determined to be distinct.

Development and commercial licenses as well as initial transfer of technologies and relevant know-how were considered to be a single performance obligation. The consideration of $7.1 million allocated to this performance obligation was recognized as revenue over a two-month period during which the delivery of the license and transfer of the relevant technology occurred. Deliverables of continuing technology transfer and participation in the JSC and other sub-committees together were considered to be a single performance obligation and the consideration allocated to this performance obligation will be recognized as revenue over time as these activities are completed. Remaining deliverables are considered individually distinct and the revenue will be recognized as delivery or transfer of future rights to BeiGene occurs.

In March 2020, BeiGene dosed the first patient in a two-arm Phase 1b/2 trial evaluating zanidatamab in combination with chemotherapy as a first-line treatment for patients with metastatic HER2-positive breast cancer and in combination with chemotherapy and BeiGene’s PD-1-targeted antibody tislelizumab as a first-line treatment for patients with metastatic HER2-

positive GEA. The Company recognized revenue of $5.0 million in relation to this milestone. Also, in November 2020, BeiGene dosed the first patient in South Korea in a pivotal, single-arm clinical trial of zanidatamab monotherapy in patients with advanced or metastatic HER2-amplified BTC. The Company recognized revenue of $10.0 million in relation to this milestone.

In relation to the ZW49 Agreement, the Company identified the following promised goods and services at the inception of the BeiGene agreement that are material: development and commercial licenses, initial transfer of the Company’s technologies and relevant know-how, continuing technology transfer, participation in the JSC and other sub-committees, manufacturing technology transfer, provision of development supply, provision of commercial supply, and transfer of future rights related to the development and commercial license. The Company concluded that the licenses and initial technology transfer together are distinct together and the continuing technology transfer and the Company’s participation to the JSC and other sub-committees’ activities are also distinct together. Manufacturing technology transfer, provision of development supply and provision of commercial supply were individually determined to be distinct.

Development and commercial licenses as well as initial transfer of technologies and relevant know-how were considered to be a single performance obligation while continuing technology transfer and participation in the JSC and other sub-committees together were considered as a single performance obligation. Remaining deliverables were considered individually distinct. No performance obligations were completed by the Company as of December 31, 2020 as the initial transfer of technologies and relevant know-how is not going to start until the earlier of completion of the Company’s Phase-1 clinical studies for ZW49 or completion of dose escalation studies. Accordingly, no revenue was recognized from the ZW49 Agreement to date.

As of December 31, 2020, the Company recorded $32,941 of the upfront fees from the zanidatamab and ZW49 agreements as deferred revenue on the Company’s consolidated balance sheet (December 31, 2019: $32,941). Amounts not expected to be recognized as revenue within the next twelve months of the consolidated balance sheet date are classified as long-term deferred revenue.

Research and Licensing Agreement for Azymetric and EFECT Platforms

For the development and commercialization licenses of up to three bispecific antibody therapeutics using the Company’s Azymetric and EFECT platforms, the Company received an upfront payment of $20.0 million. The Company is also eligible to receive development and commercial milestone payments of up to $702.0 million. In addition, the Company is eligible to receive tiered royalties in the mid-single digits on product sales. No development or commercial milestone payments or royalties have been received to date. BeiGene is solely responsible for the research, development, manufacturing, and commercialization of the products.

License Agreement with Iconic Therapeutics, Inc. (“Iconic”)

On May 13, 2019, the Company entered into a license agreement with Iconic to develop and commercialize an antibody-drug conjugate (ICON-2) targeting tissue factor generated through the use of the Company’s ZymeLink platform. Under the terms of this agreement, the Company granted Iconic a worldwide, royalty-bearing, antibody sequence-specific, exclusive license to develop and commercialize certain products. Iconic is responsible for the development, manufacturing, and commercialization of the products.

Pursuant to this agreement, the Company was initially eligible to receive development and commercial milestone payments and tiered royalties on worldwide net sales. From contract inception to December 31, 2020, the Company has received $1.0 million in milestone payments. This agreement also provides the Company with co-promotion rights with increased royalties for products generated from this collaboration. If Iconic was to sublicense the program, in lieu of co-promotion rights, the Company would receive a share of the revenue Iconic receives from any partners as well as tiered royalties on worldwide net sales.

In December 2020, Exelixis, Inc. exercised an option under an existing agreement with Iconic to license ICON-2 (subsequently renamed XB002) and under the Company’s agreement with Iconic, the Company received $4.0 million accordingly, a share of the $20.0 million option fee paid to Iconic by Exelixis. The Company is eligible to receive a share of all future revenue received by Iconic from Exelixis under this license, as well as tiered royalties on worldwide sales. Iconic and its partners are responsible for the development, manufacturing, and commercialization of the products.

Other expense, net

12 Months Ended

Dec. 31, 2020

Other Income and Expenses [Abstract]

Other expense, net

Other expenses consist of the following:


	Year ended December 31,
	2020		2019		2018
Foreign exchange (loss) gain	$	1,683	$	(567)	$	72
Change in fair value of warrant liabilities (note 10)	—		—		(3,565)
Other	(35)		(28)		(135)
	$	1,648	$	(595)	$	(3,628)

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

a. Income tax (expense) recovery is comprised of the following:


	Year Ended December 31,
	2020		2019		2018
Current income tax expense	$	(292)	$	(1,373)	$	(2,188)
Deferred income tax (expense) recovery	(137)		1,955		17
Income tax (expense) recovery	$	(429)	$	582	$	(2,171)

Current income tax expense for the years ended December 31, 2020, 2019 and 2018 arose from the operations of Zymeworks Biopharmaceuticals Inc., the Company’s wholly owned subsidiary in the United States, and from the withholding taxes paid by the Company abroad in 2020, 2019 and 2018.

b. Income tax (expense) recovery varies from the amounts that would be computed by applying the expected Canadian income tax rate of 27% (2019: 27%, 2018: 27%) to loss before income taxes as shown in the following tables:


	Year Ended December 31,
	2020		2019		2018
Computed taxes at Canadian tax rate	$	48,627	$	39,453	$	9,284
Non-deductible expenses	(9,191)		(13,020)		(4,311)
Difference between domestic and foreign tax rate	185		104		14
Effect of change in tax rates	—		(10)		(2)
Adjustments to prior year	(441)		(39)		(543)
Change in valuation allowance	(48,411)		(29,057)		(9,340)
Share issuance costs in equity	5,385		3,578		1,906
Change in recognition and measurement of tax positions	—		(2,391)		(672)
Changes due to SR&ED and research credits	4,067		2,200		1,668
Other	(650)		(236)		(175)
Income tax (expense) recovery	$	(429)	$	582	$	(2,171)

c. Deferred income tax assets and liabilities result from the temporary differences between the amounts of assets and liabilities recognized for financial statement and income tax purposes. The significant components of the deferred income tax assets and liabilities are as follows:


	December 31, 2020		December 31, 2019
Deferred tax assets:
Non-capital losses carried forward	$	71,566	$	33,016
Deferred revenue	8,894		8,894
Share issue costs	8,365		5,473
Property and equipment	1,423		1,731
Intangible assets	1,352		191
Research and development deductions and credits	27,994		21,813
Contingent consideration	366		264
Stock options	2,038		1,242
Operating lease liability	1,837		1,540
Other	280		157
	$	124,115	$	74,321
Deferred tax liabilities:
Property and equipment	(1,296)		(583)
IPR&D	(4,760)		(4,760)
Operating lease right-of-use assets	(1,181)		(1,016)
Outside basis difference in foreign subsidiary	(1,178)		(434)
Other	—		26
	$	(8,415)	$	(6,767)
	115,700		67,554
Less: valuation allowance	(115,155)		(66,744)
Net deferred tax assets	$	545	$	810
Deferred tax asset	$	1,723	$	1,218
Deferred tax liability	(1,178)		(408)
Net deferred tax assets	$	545	$	810

The realization of deferred income tax assets is dependent upon the generation of sufficient taxable income during future periods in which the temporary differences are expected to reverse. The valuation allowance is reviewed on a quarterly basis and if the assessment of the “more likely than not” criterion changes, the valuation allowance is adjusted accordingly.

d. At December 31, 2020, the Company has net operating losses carried forward for tax purposes in Canada, which are available to reduce taxable income of future years of approximately $265.1 million (December 31, 2019: $122.3 million) expiring commencing 2035 through 2040.

At December 31, 2020, the Company also has unclaimed tax deductions for scientific research and experimental development expenditures of approximately $69.5 million (December 31, 2019: $58.2 million), with no expiry. At December 31, 2020, the Company has approximately $11.7 million (December 31, 2019: $8.1 million) of investment tax credits available to offset Canadian federal and provincial taxes payable expiring commencing in 2029 through 2040.

e. The investment tax credits and non-capital losses for income tax purposes expire as follows:


Expiry date	Investment tax credits		Non-capital losses
2029	1,169		—
2030	1,365		—
2031	—		—
2032	—		—
2033	—		—
2034	229		—
2035	1,068		3,961
2036	862		24,578
2037	1,586		10,625
2038	1,485		—
2039	1,818		81,253
2040	2,162		144,644
	$	11,744	$	265,061

f. A reconciliation of total unrecognized tax benefits for the years ended December 31, 2020, 2019, and 2018 are as follows:


	Year Ended December 31,
	2020		2019		2018
Balance, beginning of year	$	3,063	$	672	$	—
Increases related to prior year tax positions	—		—		142
Increases related to current year tax positions	—		2,391		530
Balance, end of year	$	3,063	$	3,063	$	672

Included in the balance of unrecognized tax benefits at December 31, 2020, 2019 and 2018 are potential benefits of $nil that, if recognized, would affect the effective tax rate on income from continuing operations. Recognition of these potential benefits would result in a deferred tax asset in the form of net operating loss carry-forward, which would be subject to a valuation allowance based on conditions existing at the reporting date.

The Company recognizes interest expense and penalties related to unrecognized tax benefits within the provision for income tax expense on the consolidated statements of loss and comprehensive loss.

The Company currently files income tax returns in Canada and the United States, the jurisdictions in which the Company believes that it is subject to tax. Further, while the statute of limitations in each jurisdiction where an income tax return has been filed generally limits the examination period, as a result of loss carry-forwards, the limitation period for examination generally does not expire until several years after the loss carry-forwards are utilized. Other than routine audits by tax authorities for tax credits and tax refunds that the Company has claimed, management is not aware of any other material income tax examination currently in progress by any taxing jurisdiction. Tax years ranging from 2006 to 2020 remain subject to Canadian income tax examinations. Tax years ranging from 2017 to 2020 remain subject to U.S. income tax examinations.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the COVID-19 pandemic. The CARES Act makes qualified improvement property eligible for 15-year cost-recovery and 100% bonus depreciation. The enactment of the CARES Act did not result in any significant impact on the Company's 2020 and 2019 tax provision.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

LeasesThe Company leases separate office and laboratory spaces in Vancouver, British Columbia, with terms of each lease expiring in February 2022. On January 25, 2019, the Company entered into a lease for a new building in Vancouver to serve as the Company’s future headquarters, including both office and laboratory space. The commencement date of this lease depends upon completion of construction of the building and is currently estimated to be no later than the fourth quarter of 2021. This lease has an initial term of ten years, with two five-year extension options. In addition, the Company leases office space in

Seattle, Washington with lease terms expiring in February 2022 and September 2025. None of the optional extension periods have been included in the determination of the right-of-use asset or the lease liability for operating leases as the Company did not consider it reasonably certain that the Company would exercise any such options. The Company also leases office equipment under capital lease agreements.

The balance sheet classification of the Company’s lease liabilities was as follows:


	December 31, 2020		December 31, 2019
Operating lease liabilities:
Current portion	$	2,710	$	1,282
Long-term portion	5,812		5,599
Total operating lease liabilities	8,522		$	6,881
Finance lease liabilities:
Current portion included in other current liabilities	17		10
Long-term portion included in other long-term liabilities	122		46
Total finance lease liabilities	139		56
Total lease liabilities	$	8,661	$	6,937

Cash paid for amounts included in the measurement of operating lease liabilities for the year ended December 31, 2020 was $2,851 and was included in net cash used in operating activities in the consolidated statement of cash flows.

As of December 31, 2020, the maturities of the Company’s operating lease liabilities were as follows:


	Operating leases
Within 1 year	$	2,838
1 to 2 years	1,712
2 to 3 years	1,641
3 to 4 years	1,546
4 to 5 years	1,186
Thereafter	—
Total operating lease payments	8,923
Less:
Imputed interest	(401)
Operating lease liabilities	$	8,522

As of December 31, 2020, the weighted average remaining lease term is 4.0 years and the discount rate used to determine the operating lease liability was 4.6% for leases in Canadian dollars and 2.7% for leases in U.S. dollars.

During the year ended December 31, 2020, the Company incurred total operating lease expenses of $3,595 (2019 - $2,845), which included lease expenses associated with fixed lease payments of $3,156 (2019 - $2,639), and variable payments associated with common area maintenance and similar expenses of $439 (2019 - $251).

During the year ended December 31, 2020, the Company recognized impairment losses of $667, on the right of use asset relating to the Company’s lease of office space in Seattle which has been vacated.

In addition to the operating lease liabilities included in the table above, the Company has commitments for future operating lease payments of $26,153 under the terms of the lease for the Company’s future head office, which is expected to commence in fourth quarter of 2021.

The Company also leases office equipment under finance lease agreements. As of December 31, 2020, the maturities of the Company’s finance lease liabilities were as follows:


	Finance leases
Within 1 year	$	17
1 to 2 years	23
2 to 3 years	23
3 to 4 years	50
4 to 5 years	28
Thereafter	—
Total finance lease payments	141
Less:
Imputed interest	(2)
Finance lease liabilities	$	139

Financial Instruments

12 Months Ended

Dec. 31, 2020

Investments, All Other Investments [Abstract]

Financial Instruments

The Company evaluates financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level of classification each reporting period. This determination requires the Company to make subjective judgments as to the significance of inputs used in determining fair value and where such inputs lie within the fair value hierarchy.

Fair Value Measurements

The Company measures certain financial instruments and other items at fair value.

To determine fair value, the Company uses a fair value hierarchy that prioritizes the inputs, assumptions and valuation techniques used to measure fair value. The three levels of the fair value hierarchy are as follows:

• Level 1 inputs are unadjusted quoted market prices for identical instruments available in active markets.

• Level 2 inputs are inputs other than Level 1 prices, such as prices for a similar asset or liability that are observable either directly or indirectly. If the asset or liability has a contractual term, the input must be observable for substantially the full term. An example includes quoted market prices for similar assets or liabilities in active markets.

• Level 3 inputs are unobservable inputs for the asset or liability and will reflect management’s assessment about market assumptions that would be used to price the asset or liability.

Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurements. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy.

The Company’s financial instruments consist of cash and cash equivalents, short-term and long-term investments in marketable and other securities, amounts receivable, accounts payable and accrued liabilities, finance and operating lease obligations, liability classified stock options and other long-term liabilities.

The carrying values of cash and cash equivalents, short-term investments in marketable securities, amounts receivable and accounts payable and accrued liabilities approximate their fair values due to the near-term maturities of these financial instruments. As at December 31, 2020, the carrying values of long-term investments in debt securities with financial institutions approximate their fair values which is comprised of principal investment and accrued interest to date. Other long term investments in debt and equity securities private entities are accounted for as available for sale at their fair values. As quoted prices for the liability classified stock options are not readily available, the Company uses a Black-Scholes option pricing model to estimate fair value, which utilizes level 3 inputs as defined above. Other long-term liabilities for contingent consideration related to business acquisitions are recorded at fair value on the acquisition date and are adjusted quarterly for changes in fair value. Changes in the fair value of contingent consideration liabilities can result from changes in anticipated milestone

payments and changes in assumed discount periods and rates. These inputs are unobservable in the market and therefore categorized as level 3 inputs as defined above.

The following tables present information about the Company’s liabilities that are measured at fair value on a recurring basis, and indicate the fair value hierarchy of the valuation techniques used to determine such fair value:


	December 31, 2020		Level 1		Level 2		Level 3
Liabilities
Liability classified stock options	$	39,284	$	—	$	—	$	39,284
Liability for contingent consideration	1,285		—		—		1,285
Total	$	40,569	$	—	$	—	$	40,569


	December 31, 2019		Level 1		Level 2		Level 3
Liabilities
Liability classified stock options	$	45,569	$	—	$	—	$	45,569
Liability for contingent consideration	978		—		—		978
Total	$	46,547	$	—	$	—	$	46,547

The following table presents the changes in fair value of the Company’s liability for contingent consideration:


	Liability at the beginning of the period		Increase (decrease) in fair value of liability for contingent consideration		Liability at end of the period
Year ended December 31, 2020	$	978	$	307	$	1,285
Year ended December 31, 2019	$	707	$	271	$	978

The following table presents the changes in fair value of liability-classified stock options:


	Liability at beginning of the period		Reclassification to liabilities from equity		Increase (decrease) in fair value of liability classified stock options		Exercise of options		Unrealized foreign currency loss (gain)		Liability at end of the period
Year ended December 31, 2020	$	45,569	$	110	$	1,369	$	(8,320)	$	556	$	39,284
Year ended December 31, 2019	$	12,603	$	119	$	35,994	$	(3,804)	$	657	$	45,569

The change in fair value of liability classified stock options for the period is presented within research and development expenses and general and administrative expenses (note 11e).

Concentration of Credit Risk

Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash and cash equivalents, short-term investments, long-term investments and accounts receivable. Cash and cash equivalents and investments in marketable securities are invested in accordance with the Company’s cash investment policy with the primary objective being the preservation of capital and maintenance of liquidity. The cash investment policy includes guidelines on the quality of financial instruments and defines allowable investments that the Company believes minimizes the exposure to concentration of credit risk. The Company limits its exposure to credit loss by placing its cash and cash equivalents, short-term investments and long-term investments with high credit quality financial institutions.

At December 31, 2020, the maximum exposure to credit risk for accounts receivable was $15,293 (December 31, 2019: $2,185) and all accounts receivable are due within the next 12 months. As at December 31, 2020 and December 31, 2019, the Company has not recognized any provision for expected credit losses in relation to accounts receivable.

Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company’s short-term cash requirements are primarily to settle its financial liabilities, which consist primarily of accounts payable and accrued liabilities falling due within 45 days and current portion of lease obligations falling due within the next 12 months, with medium term requirements to invest in property and equipment and research and development. The Company’s principal sources of liquidity to settle its financial liabilities are cash, cash equivalents and short-term investments, collection of accounts receivable relating to research collaboration and license agreements and additional public equity offerings as required. The Company believes that these principal sources of liquidity are sufficient to fund its operations for at least the next 12 months.

Foreign Currency Risk

The Company incurs certain operating expenses in currencies other than the U.S. dollar and accordingly is subject to foreign exchange risk due to fluctuations in exchange rates. The Company does not use derivative instruments to hedge exposure to foreign exchange risk due to the low volume of transactions denominated in foreign currencies. At December 31, 2020, the Company’s net monetary assets denominated in Canadian dollars were $19.6 million (C$25.0 million).

The operating results and financial position of the Company are reported in U.S. dollars in the Company’s consolidated financial statements. The fluctuation of the U.S. dollar relative to the Canadian dollar and other foreign currencies will have an impact on the reported balances for net assets, net loss and shareholders’ equity in the Company’s consolidated financial statements.

Commitment and Contingencies	12 Months Ended
Commitment and Contingencies	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments The Company has entered into research collaboration agreements with strategic partners in the ordinary course of operations that may include contractual milestone payments related to the achievement of pre-specified research, development, regulatory and commercialization events and indemnification provisions, which are common in such agreements. Pursuant to the agreements, the Company is obligated to make research and development and regulatory milestone payments upon the occurrence of certain events and royalty payments based on net sales. The maximum amount of potential future indemnification is unlimited, however, the Company currently holds commercial and product liability insurance that limits the Company’s liability and may enable it to recover a portion of any future amounts paid. Historically, the Company has not made any indemnification payments under such agreements and believes that the fair value of these indemnification obligations is minimal. Accordingly, the Company has not recognized any liabilities relating to indemnification obligations for any period presented in the consolidated financial statements. In connection with the Company’s 2016 Kairos acquisition, the Company may be required to make future payments to CDRD Ventures Inc. (“CVI”) upon the direct achievement of certain development milestones for products incorporating certain Kairos intellectual property, as well as royalty payments on the net sales of such products. For out-licensed products and technologies incorporating certain Kairos intellectual property, the Company may be required to pay CVI a mid-single digit percentage of the future revenue as a result of a revenue sharing agreement. As of December 31, 2020, the contingent consideration had an estimated fair value of approximately $1,285, which has been recorded within other long-term liabilities on the Company’s consolidated balance sheet (December 31, 2019: $978). The contingent consideration was calculated using a probability weighted assessment of the likelihood of the milestones being met, a probability adjusted discount rate that reflects the stage of the development and time to complete the development. Contingent consideration is a financial liability and measured at its fair value at each reporting period, with any changes in fair value from the previous reporting period recorded in the statement of loss and comprehensive loss. Contingencies From time to time, the Company may be subject to various legal proceedings and claims related to matters arising in the ordinary course of business. The Company does not believe it is currently subject to any material matters where there is at least a reasonable possibility that a material loss may be incurred.

Supplemental Financial Information

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Supplemental Financial Information (unaudited)

The following unaudited quarterly financial information should be read in conjunction with our financial statements and related notes included elsewhere in this report. The operating results for any quarter are not necessarily indicative of results for any future period. Selected quarterly results from operations for the years ended December 31, 2020 and 2019 were as follows:


	Quarter Ended
	December 31, 2020		September 30, 2020		June 30, 2020		March 31, 2020
Revenue from research and development collaborations	$	15,680	$	2,643	$	12,359	$	8,269
Operating expenses	53,225		76,337		52,708		44,149
Net loss	(37,893)		(72,562)		(38,961)		(31,136)
Net loss per common share - Basic and diluted	$	(0.74)	$	(1.43)	$	(0.77)	$	(0.64)


	Quarter Ended
	December 31, 2019		September 30, 2019		June 30, 2019		March 31, 2019
Revenue from research and development collaborations	$	1,877	$	7,860	$	7,882	$	11,925
Operating expenses	75,629		41,424		37,314		26,478
Net loss	(72,244)		(30,475)		(29,077)		(13,641)
Net loss per common share - Basic and diluted	$	(1.66)	$	(0.70)	$	(0.89)	$	(0.43)

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Basis of Presentation

Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.

Foreign Currency

Use of Estimates

Revenue Recognition

• non-refundable, upfront license and platform technology access fees;

• research, development and regulatory milestone payments;

• research support payments; and

• royalties and commercial milestone payments.

Non-refundable, upfront license and platform technology access fees

Company evaluates the measure of progress each reporting period and, if necessary, adjusts the related revenue recognition accordingly.

Research, development and regulatory milestone payments

Research and development milestones in the Company’s collaboration agreements may include some, but not necessarily all, of the following types of events:

• completion of preclinical research and development work leading to selection of product candidates;

• initiation of Phase 1, Phase 2 and Phase 3 clinical trials; and

• achievement of certain other technical, scientific or development criteria.

Regulatory milestone payments may include the following types of events:

• marketing approval in major markets, such as the United States, Europe or Japan.

Research support and other payments

Royalties and commercial milestone payments

Contract Assets and Liabilities

Contract assets and liabilities

Contract assets are mainly comprised of trade receivables net of expected credit losses, which includes amounts billed and currently due from customers.

Cash and Cash Equivalents

Investments

Accounts Receivable and Expected Credit Losses

Deferred Financing Costs

Deferred Financing Fees

Segment Information

Property and Equipment

The Company records depreciation using the straight-line method over the estimated useful lives of the property and equipment as follows:


Asset Class						Rate
Computer hardware						3 years
Office equipment						3 years
Furniture and fixtures						5 years
Laboratory equipment						7 years
Leasehold improvements						Shorter of the initial lease term or useful life

Property and equipment acquired or disposed of during the year are depreciated proportionately for the period they are in use.

Leases

Patents and Intellectual Property Costs

Impairment of Long-Lived Assets

Government Grants and Credits

Research and Development Costs

Clinical Trial Expense Accruals

Income Taxes

Interest and tax penalties are expensed as incurred.

Stock-Based Compensation

Business Combination and Goodwill

Business Combinations and Goodwill

Acquired In-Process Research and Development and Definite-lived Intangible Assets

Acquired In-Process Research and Development (IPR&D) and Definite-lived Intangible Assets

Net Loss Per Share

Net loss per share

settled. The stock options outstanding were all excluded from the calculation of diluted loss per share because their inclusion would have been anti-dilutive.

Initial adoption of new accounting pronouncements

In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses (Topic 326), in order to improve financial reporting of expected credit losses on financial instruments and other commitments to extend credit. ASU 2016-13 requires that an entity measure and recognize expected credit losses for financial assets held at amortized cost and replaces the incurred loss impairment methodology in prior GAAP with a methodology that requires consideration of a broader range of information to estimate credit losses. The Company adopted this accounting standard as of January 1, 2020. The adoption of this standard did not have any impact to the Company’s consolidated financial statements as credit losses at the transition date were not expected to be significant, based on the evaluation of the financial condition of payment partners, and external market factors.

In August 2018, the FASB issued ASU 2018–13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in this ASU eliminate, add and modify certain disclosure requirements for fair value measurements as part of its disclosure framework project. The standard is effective for the Company in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted this accounting standard as of January 1, 2020. The adoption of this new accounting standard did not have a significant impact on the Company’s consolidated financial statements.

In August 2018, the FASB issued ASU 2018–15, Intangibles — Goodwill and Other — Internal Use Software (Subtopic 350–40). This ASU addresses the accounting for implementation costs incurred by a customer in a cloud computing arrangement that is a service contract and also adds certain disclosure requirements related to implementation costs incurred for internal-use software and cloud computing arrangements. The amendment aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted this accounting standard as of January 1, 2020 and has applied it prospectively to all implementation costs incurred after January 1, 2020. The adoption of this new accounting standard did not have a significant impact on the Company’s consolidated financial statements.

Recent accounting pronouncements not yet adopted

The Company has reviewed other recent accounting pronouncements and concluded that they are either not applicable to the business, or that no material impact is expected on the consolidated financial statements as a result of future adoption.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives

The Company records depreciation using the straight-line method over the estimated useful lives of the property and equipment as follows:


Asset Class						Rate
Computer hardware						3 years
Office equipment						3 years
Furniture and fixtures						5 years
Laboratory equipment						7 years
Leasehold improvements						Shorter of the initial lease term or useful life

Net Loss per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Summary of Calculation of Diluted Loss Per Share

Net loss per share for the years ended December 31, 2020, 2019 and 2018 was as follows:


	Year Ended December 31,
	2020		2019		2018
Numerator:
Net loss attributable to common shareholders:
Basic and diluted	$	(180,552)	$	(145,437)	$	(36,556)

Denominator:
Weighted-average common shares outstanding:
Basic and diluted	50,382,497		38,022,014		29,089,896

Net loss per common share – basic and diluted	$	(3.58)	$	(3.83)	$	(1.26)

IPR&D and Goodwill (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Carrying Value of IPR&D, Net of Impairment

The following table summarizes the carrying value of IPR&D, net of impairment:


	Acquired IPR&D		Accumulated Impairment		Net
Balance at December 31, 2017	$	20,700	$	(2,304)	$	18,396
Change during the period	—		—		—
Balance at December 31, 2018	$	20,700	$	(2,304)	$	18,396
Change during the period	—		(768)		(768)
Balance at December 31, 2019	$	20,700	$	(3,072)	$	17,628
Change during the period	—		—		—
Balance at December 31, 2020	$	20,700	$	(3,072)	$	17,628

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Components of Property and Equipment

Property and equipment consist of the following:


	December 31,
	2020		2019
Computer hardware	$	2,691	$	2,438
Furniture and fixtures	1,559		1,248
Office equipment	971		729
Laboratory equipment	7,280		6,628
Leasehold improvements	9,054		6,374
Construction in progress	964		915
Property and equipment	$	22,519	$	18,332
Less accumulated depreciation	(10,334)		(7,232)
Property and equipment, net	$	12,185	$	11,100

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible assets consist of the following:


	December 31,
	2020		2019
Research licenses and computer software	$	16,390	$	12,985
Less accumulated amortization	(11,087)		(6,928)
Intangible assets, net	$	5,303	$	6,057

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

At December 31, 2020, amortization expense on intangible assets is estimated to be as follows for each of the next five years:


	Amortization expense
2021	$	2,786
2022	$	583
2023	$	438
2024	$	427
2025	$	427
	$	4,661

Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consisted of the following:


	December 31,
	2020		2019
Trade payables	$	6,244	$	5,349
Accrued research and development expenses	25,962		24,262
Employee compensation and vacation accruals	9,439		5,009
Accrued legal and professional fees	859		231
Other	1,151		840
Total	$	43,655	$	35,691

Schedule of Other Long-term Liabilities

Other long term liabilities consisted of the following:


	December 31,
	2020		2019
Liability for contingent consideration (note18)	$	1,285	$	978
Liabilities from in-licensing agreements	1,450		—
Finance lease liability (note 16)	122		46
Total	$	2,857	$	1,024

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note [Abstract]

Share-based Payment Arrangement, Restricted Stock Unit, Activity


	Number of RSUs	Weighted- average grant date fair value ($)
Outstanding, December 31, 2019	—	—
Granted	82,704	35.19
Vested and settled	—	—
Forfeited	—	—
Outstanding, December 31, 2020	82,704	35.19

Summary 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, 2018	2,445,990	14.66	10.74	6.99	14,421	10,571
Granted	358,800	22.92	17.14
Expired	(1,047)	4.75	3.65
Exercised	(403,553)	12.53	9.46
Forfeited	(43,777)	18.42	13.91
Outstanding, December 31, 2019	2,356,413	16.21	12.46	6.70	101,404	77,807
Granted	413,750	49.22	36.25
Expired	—	—	—
Exercised	(404,963)	13.82	10.48
Forfeited	(79,631)	33.89	25.30
Outstanding, December 31, 2020	2,285,569	22.00	17.27	6.46	87,545	68,664
December 31, 2020
Exercisable	1,594,793	15.89	12.46	5.42	70,665	55,424
Vested and expected to vest	2,244,532	21.72	17.03	6.35	86,461	67,814

The following table summarizes the Company’s stock options granted in U.S. dollars under the New Plan:


	Number of Options	Weighted- Average Exercise Price ($)	Weighted- Average Contractual Term (years)	Aggregate intrinsic value ($)
Outstanding, December 31, 2018	1,539,778	11.67	9.02	4,876
Granted	1,501,750	19.89
Expired	—	—
Exercised	(126,108)	13.32
Forfeited	(62,074)	14.91
Outstanding, December 31, 2019	2,853,346	15.85	8.66	84,481
Granted	1,247,550	37.11
Expired	—	—
Exercised	(197,195)	14.59
Forfeited	(113,375)	18.01
Outstanding, December 31, 2020	3,790,326	22.85	8.20	92,705
December 31, 2020
Exercisable	1,500,039	14.20	7.42	49,588
Vested and expected to vest	3,655,033	22.61	8.18	90,264

Schedule of Non-Vested Stock Option Activity

A summary of the non-vested stock option activity and related information of the Company’s stock options granted in Canadian dollars is as follows:


	Number of options	Weighted-average grant date fair value (C$)	Weighted- average grant date fair value (US$)
Non-vested, December 31, 2019	733,129	16.03	12.30
Options granted	413,750	32.42	25.43
Options vested	(377,519)	18.76	14.71
Options forfeited and cancelled	(78,584)	24.90	19.53
Non-vested, December 31, 2020	690,776	24.44	19.17

A summary of the non-vested stock option activity and related information of the Company’s stock options granted in U.S. dollars is as follows:


	Number of options	Weighted- average grant date fair value (US$)
Non-vested, December 31, 2019	2,140,923	11.21
Options granted	1,247,550	24.55
Options vested	(984,811)	10.54
Options forfeited and cancelled	(113,375)	10.83
Non-vested, December 31, 2020	2,290,287	18.75

Schedule of Stock-based Compensation Expense for Equity Classified Instruments

Stock-based compensation expense for equity classified instruments, as well as the financial statement impact of the amortization and periodic revaluation of liability classified instruments (note 2), are recorded in research and development expenses, general and administration expense and finance expense as follows:


	Year Ended December 31,
	2020		2019		2018
Research and development expense:
Stock-based compensation for equity classified instruments	$	12,299	$	5,939	$	2,203
Change in fair value of liability classified instruments	(6)		8,358		2,032
	$	12,293	$	14,297	$	4,235
General and administrative expense:
Stock-based compensation for equity classified instruments	$	14,645	$	6,737	$	3,693
Change in fair value of liability classified instruments	1,416		27,470		5,362
	$	16,061	$	34,207	$	9,055
Finance expense (income):
Stock-based compensation for equity classified instruments	$	—	$	—	$	1
Change in fair value of liability classified instruments	(41)		166		150
	$	(41)	$	166	$	151

Amounts for equity classified instruments above include stock-based compensation expense relating to RSUs of $1,387 for the year ended December 31, 2020 (2019 and 2018: $nil).

Schedule of Estimated Fair Value of Stock Options Assumptions


	Year ended December 31,
	2020		2019		2018
Dividend yield	0	%	0	%	0	%
Expected volatility	76.33	%	73.59	%	66.25	%
Risk-free interest rate	0.60	%	1.47	%	2.18	%
Expected average life of options	6.07 years		6.05 years		5.91 years

The estimated fair value of stock options granted in U.S. dollars under the New Plan was determined using the Black-Scholes option pricing model with the following weighted-average assumptions:


	Year ended December 31,
	2020		2019		2018
Dividend yield	0	%	0	%	0	%
Expected volatility	76.95	%	73.15	%	66.78	%
Risk-free interest rate	0.68	%	2.23	%	2.69	%
Expected average life of options	6.03 years		6.03 years		5.88 years

The weighted-average Black-Scholes option pricing assumptions for liability classified stock options outstanding at December 31, 2020 and 2019 are as follows:


	December 31, 2020		December 31, 2019
Dividend yield	0	%	0	%
Expected volatility	77.20	%	76.09	%
Risk-free interest rate	0.43	%	1.68	%
Expected average option term	2.47 years		3.38 years
Number of liability classified stock options outstanding	1,028,676		1,249,365

Government Grants and Credits (Tables)

12 Months Ended

Dec. 31, 2020

Government Grants and Credits [Abstract]

Component of Government Grants and Credits


	Year Ended December 31,
	2020		2019		2018
CEWS and other subsidies	$	3,031	$	—	$	—
SR&ED credits (expense), net	$	142	$	110	$	(5)
Total	$	3,173	$	110	$	(5)

Research, Collaboration and Licensing Agreements (Tables)

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Revenue Recognized from Strategic Partnerships

Revenue recognized from the Company’s strategic partnerships is summarized as follows:


	Year ended December 31,
	2020		2019		2018
BeiGene:
Milestone revenue	$	15,000	$	—	$	—
Recognition of upfront fee	—		3,530		23,530
BMS:
Upfront fee relating to amendment	12,000		—		—
Option exercise fee	—		7,500		4,000
Iconic:
Partner revenue	4,000		—		—
Milestone revenue	—		1,000		—
Merck:
Milestone revenue	—		2,000		—
Lilly:
Milestone revenue	—		8,000		2,000
Daiichi Sankyo:
Technology access fee	—		—		18,000
Commercial license option fee	—		3,500		—
LEO:
Recognition of upfront fee	—		—		5,000
Research support payments and other payments	7,951		4,014		489
	$	38,951	$	29,544	$	53,019

Other expense, net (Tables)

12 Months Ended

Dec. 31, 2020

Other Income and Expenses [Abstract]

Schedule of Other Nonoperating Income (Expense)

Other expenses consist of the following:


	Year ended December 31,
	2020		2019		2018
Foreign exchange (loss) gain	$	1,683	$	(567)	$	72
Change in fair value of warrant liabilities (note 10)	—		—		(3,565)
Other	(35)		(28)		(135)
	$	1,648	$	(595)	$	(3,628)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense (Recovery)

Income tax (expense) recovery is comprised of the following:


	Year Ended December 31,
	2020		2019		2018
Current income tax expense	$	(292)	$	(1,373)	$	(2,188)
Deferred income tax (expense) recovery	(137)		1,955		17
Income tax (expense) recovery	$	(429)	$	582	$	(2,171)

Schedule of Effective Income Tax Rate Reconciliation

Income tax (expense) recovery varies from the amounts that would be computed by applying the expected Canadian income tax rate of 27% (2019: 27%, 2018: 27%) to loss before income taxes as shown in the following tables:


	Year Ended December 31,
	2020		2019		2018
Computed taxes at Canadian tax rate	$	48,627	$	39,453	$	9,284
Non-deductible expenses	(9,191)		(13,020)		(4,311)
Difference between domestic and foreign tax rate	185		104		14
Effect of change in tax rates	—		(10)		(2)
Adjustments to prior year	(441)		(39)		(543)
Change in valuation allowance	(48,411)		(29,057)		(9,340)
Share issuance costs in equity	5,385		3,578		1,906
Change in recognition and measurement of tax positions	—		(2,391)		(672)
Changes due to SR&ED and research credits	4,067		2,200		1,668
Other	(650)		(236)		(175)
Income tax (expense) recovery	$	(429)	$	582	$	(2,171)

Schedule of Significant Components of the Deferred Income Tax Assets and Liabilities

The significant components of the deferred income tax assets and liabilities are as follows:


	December 31, 2020		December 31, 2019
Deferred tax assets:
Non-capital losses carried forward	$	71,566	$	33,016
Deferred revenue	8,894		8,894
Share issue costs	8,365		5,473
Property and equipment	1,423		1,731
Intangible assets	1,352		191
Research and development deductions and credits	27,994		21,813
Contingent consideration	366		264
Stock options	2,038		1,242
Operating lease liability	1,837		1,540
Other	280		157
	$	124,115	$	74,321
Deferred tax liabilities:
Property and equipment	(1,296)		(583)
IPR&D	(4,760)		(4,760)
Operating lease right-of-use assets	(1,181)		(1,016)
Outside basis difference in foreign subsidiary	(1,178)		(434)
Other	—		26
	$	(8,415)	$	(6,767)
	115,700		67,554
Less: valuation allowance	(115,155)		(66,744)
Net deferred tax assets	$	545	$	810
Deferred tax asset	$	1,723	$	1,218
Deferred tax liability	(1,178)		(408)
Net deferred tax assets	$	545	$	810

Schedule of Expiry Details of Investment Tax Credits, Non-Capital Losses and Net Operating Losses for Income Tax Purposes

The investment tax credits and non-capital losses for income tax purposes expire as follows:


Expiry date	Investment tax credits		Non-capital losses
2029	1,169		—
2030	1,365		—
2031	—		—
2032	—		—
2033	—		—
2034	229		—
2035	1,068		3,961
2036	862		24,578
2037	1,586		10,625
2038	1,485		—
2039	1,818		81,253
2040	2,162		144,644
	$	11,744	$	265,061

Schedule of Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits

A reconciliation of total unrecognized tax benefits for the years ended December 31, 2020, 2019, and 2018 are as follows:


	Year Ended December 31,
	2020		2019		2018
Balance, beginning of year	$	3,063	$	672	$	—
Increases related to prior year tax positions	—		—		142
Increases related to current year tax positions	—		2,391		530
Balance, end of year	$	3,063	$	3,063	$	672

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Balance Sheet Classification of Lease Liabilities

The balance sheet classification of the Company’s lease liabilities was as follows:


	December 31, 2020		December 31, 2019
Operating lease liabilities:
Current portion	$	2,710	$	1,282
Long-term portion	5,812		5,599
Total operating lease liabilities	8,522		$	6,881
Finance lease liabilities:
Current portion included in other current liabilities	17		10
Long-term portion included in other long-term liabilities	122		46
Total finance lease liabilities	139		56
Total lease liabilities	$	8,661	$	6,937

Schedule of Maturities of Operating Lease Liabilities

As of December 31, 2020, the maturities of the Company’s operating lease liabilities were as follows:


	Operating leases
Within 1 year	$	2,838
1 to 2 years	1,712
2 to 3 years	1,641
3 to 4 years	1,546
4 to 5 years	1,186
Thereafter	—
Total operating lease payments	8,923
Less:
Imputed interest	(401)
Operating lease liabilities	$	8,522

Schedule of Maturities of Finance Lease Liabilities

The Company also leases office equipment under finance lease agreements. As of December 31, 2020, the maturities of the Company’s finance lease liabilities were as follows:


	Finance leases
Within 1 year	$	17
1 to 2 years	23
2 to 3 years	23
3 to 4 years	50
4 to 5 years	28
Thereafter	—
Total finance lease payments	141
Less:
Imputed interest	(2)
Finance lease liabilities	$	139

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Investments, All Other Investments [Abstract]

Schedule of Financial Liabilities Measured at Fair Value on a Recurring Basis


	December 31, 2020		Level 1		Level 2		Level 3
Liabilities
Liability classified stock options	$	39,284	$	—	$	—	$	39,284
Liability for contingent consideration	1,285		—		—		1,285
Total	$	40,569	$	—	$	—	$	40,569


	December 31, 2019		Level 1		Level 2		Level 3
Liabilities
Liability classified stock options	$	45,569	$	—	$	—	$	45,569
Liability for contingent consideration	978		—		—		978
Total	$	46,547	$	—	$	—	$	46,547

Summary of Changes in Fair Value of the Company's Liability for Contingent Consideration

The following table presents the changes in fair value of the Company’s liability for contingent consideration:


	Liability at the beginning of the period		Increase (decrease) in fair value of liability for contingent consideration		Liability at end of the period
Year ended December 31, 2020	$	978	$	307	$	1,285
Year ended December 31, 2019	$	707	$	271	$	978

Schedule of Changes in Fair Value of Liability Classified Stock Options

The following table presents the changes in fair value of liability-classified stock options:


	Liability at beginning of the period		Reclassification to liabilities from equity		Increase (decrease) in fair value of liability classified stock options		Exercise of options		Unrealized foreign currency loss (gain)		Liability at end of the period
Year ended December 31, 2020	$	45,569	$	110	$	1,369	$	(8,320)	$	556	$	39,284
Year ended December 31, 2019	$	12,603	$	119	$	35,994	$	(3,804)	$	657	$	45,569

Supplemental Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information


	Quarter Ended
	December 31, 2020		September 30, 2020		June 30, 2020		March 31, 2020
Revenue from research and development collaborations	$	15,680	$	2,643	$	12,359	$	8,269
Operating expenses	53,225		76,337		52,708		44,149
Net loss	(37,893)		(72,562)		(38,961)		(31,136)
Net loss per common share - Basic and diluted	$	(0.74)	$	(1.43)	$	(0.77)	$	(0.64)


	Quarter Ended
	December 31, 2019		September 30, 2019		June 30, 2019		March 31, 2019
Revenue from research and development collaborations	$	1,877	$	7,860	$	7,882	$	11,925
Operating expenses	75,629		41,424		37,314		26,478
Net loss	(72,244)		(30,475)		(29,077)		(13,641)
Net loss per common share - Basic and diluted	$	(1.66)	$	(0.70)	$	(0.89)	$	(0.43)

Nature of Operations - Additional Information (Detail)	12 Months Ended
Nature of Operations - Additional Information (Detail)	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Date of incorporation	Sep. 08, 2003

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020 Segment programme
Schedule Of Accounting Policies [Line Items]
Number of operating segments \| Segment	1
Federal Tax Incentive
Schedule Of Accounting Policies [Line Items]
Number of operating programs \| programme	2

Summary of Significant Accounting Policies - Summary of Estimated Useful Lives (Detail)	12 Months Ended
	Dec. 31, 2020
Computer hardware
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	3 years
Office equipment
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	3 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	5 years
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	7 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	Shorter of the initial lease term or useful life

Net Loss per Share - Summary of Calculation of Diluted Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Net loss attributable to common shareholders basic									$ (180,552)	$ (145,437)	$ (36,556)
Net loss attributable to common shareholders diluted									$ (180,552)	$ (145,437)	$ (36,556)
Weighted-average common shares outstanding:
Basic and diluted (in shares)									50,382,497	38,022,014	29,089,896
Net loss per common share – basic and diluted (in dollars per share)	$ (0.74)	$ (1.43)	$ (0.77)	$ (0.64)	$ (1.66)	$ (0.70)	$ (0.89)	$ (0.43)	$ (3.58)	$ (3.83)	$ (1.26)

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1377-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Investments - Additional Information (Detail) - USD ($)	12 Months Ended
Investments - Additional Information (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Investments [Line Items]
Debt securities, available-for-sale, noncurrent	$ 718,000	$ 0
Long-term Guaranteed investment Certificates
Investments [Line Items]
Investments interest rate	1.00%
Commercial paper	$ 25,203,000	$ 0
Minimum \| Short-term Guaranteed investment Certificates
Investments [Line Items]
Investments interest rate	0.50%
Short-term investments maturity term	3 months
Maximum \| Short-term Guaranteed investment Certificates
Investments [Line Items]
Investments interest rate	1.60%
Short-term investments maturity term	12 months
Maximum \| Long-term Guaranteed investment Certificates
Investments [Line Items]
Long term investments maturity term	24 months

IPR&D and Goodwill - Summary of Carrying Value of IPR&D, Net of Impairment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Indefinite-lived Intangible Assets [Roll Forward]
Beginning balance	$ 17,628	$ 18,396	$ 18,396
Change during the period	0	(768)	0
Ending balance	17,628	17,628	18,396
IPR&D
Indefinite-lived Intangible Assets [Roll Forward]
Acquired IPR&D, beginning balance	20,700	20,700	20,700
Acquired IPR&D, Change during the period	0	0	0
Acquired IPR&D, ending balance	20,700	20,700	20,700
Indefinite-lived Intangible Assets Accumulated Impairment [Roll Forward]
Beginning balance	(3,072)	(2,304)	(2,304)
Change during the period	0	(768)	0
Ending balance	$ (3,072)	$ (3,072)	$ (2,304)

IPR&D and Goodwill - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) reporting_unit	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Acquired Indefinite-lived Intangible Assets [Line Items]
Impairment of acquired IPR&D (note 6)	$ 0	$ 768	$ 0
Number of reporting units \| reporting_unit	1
IPR&D
Acquired Indefinite-lived Intangible Assets [Line Items]
Impairment of acquired IPR&D (note 6)		$ 768

Property and Equipment - Components of Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment	$ 22,519	$ 18,332
Less accumulated depreciation	(10,334)	(7,232)
Property and equipment, net	12,185	11,100
Computer hardware
Property, Plant and Equipment [Line Items]
Property and equipment	2,691	2,438
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment	1,559	1,248
Office equipment
Property, Plant and Equipment [Line Items]
Property and equipment	971	729
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property and equipment	7,280	6,628
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	9,054	6,374
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment	$ 964	$ 915

Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 3,355	$ 2,312	$ 1,880

Intangible Assets - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Research licenses and computer software	$ 16,390	$ 12,985
Less accumulated amortization	(11,087)	(6,928)
Intangible assets, net	$ 5,303	$ 6,057

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense on intangible assets	$ 4,160	$ 3,113	$ 1,750

Intangible Assets - Schedule of Future Amortization Expense (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 2,786
2022	583
2023	438
2024	427
2025	427
Intangible assets, net	$ 4,661

Liabilities - Schedule of Accounts Payable and Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounts Payable and Accrued Liabilities, Current [Abstract]
Trade payables	$ 6,244	$ 5,349
Accrued research and development expenses	25,962	24,262
Employee compensation and vacation accruals	9,439	5,009
Accrued legal and professional fees	859	231
Other	1,151	840
Total	$ 43,655	$ 35,691

Liabilities - Schedule of Other Long-term Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Other Liabilities, Noncurrent [Abstract]
Liability for contingent consideration (note18)	$ 1,285	$ 978
Liabilities from in-licensing agreements	1,450	0
Finance lease liability (note 16)	122	46
Total	$ 2,857	$ 1,024

Exercise of liability classified warrants - Perceptive Debt - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 24, 2019	Dec. 31, 2017	Jun. 02, 2016
Line of Credit Facility [Line Items]
Warrants issued to purchase shares						398,076
Warrants exercise price				$ 0.0001		$ 8.67
Increase (decrease) in fair value of warrants	$ 0	$ 0	$ 3,565,000
Perceptive Debt \| Tranche A Term Loans
Line of Credit Facility [Line Items]
Credit facility					$ 7,500
Perceptive Warrants
Line of Credit Facility [Line Items]
Common stock issued upon exercise of warrants			206,361
Increase (decrease) in fair value of warrants			$ 3,565,000

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Shareholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands					12 Months Ended			108 Months Ended
	Jan. 27, 2020	Jun. 24, 2019	Jun. 11, 2018	Jul. 14, 2006	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2028	Jun. 02, 2016
Temporary Equity [Line Items]
Warrant exercise price		$ 0.0001							$ 8.67
Preferred stock, shares issued (in shares)					0	0
Preferred stock, shares outstanding (in shares)					0	0
Stock-based compensation					$ 26,945	$ 12,676	$ 3,876
Derivative liability, classified stock options and ESPP					$ 2,171	36,320	7,658
Expected average life of options					10 years
Unamortized compensation expense related to unvested options					$ 27,352
Remaining unamortized compensation expense, weighted-average period					1 year 9 months 18 days
Share-based Payment Arrangement, Tranche One
Temporary Equity [Line Items]
Award vesting rights, percentage				25.00%
Offering
Temporary Equity [Line Items]
Number of common shares issued (in shares)	5,824,729	7,013,892	6,210,000
Payments of stock issuance costs	$ 19,940	$ 13,245	$ 7,056
Net proceeds from issuance \| $	$ 300,910	$ 188,005	$ 90,752
Warrant exercise price	$ 0.0001
Warrants issued price per pre funded warrant (in dollars per share)	46.4999	$ 17.9999
Share issued price per share (in dollars per share)	$ 46.50	$ 18.00	$ 15.75
Over-Allotment Option
Temporary Equity [Line Items]
Number of shares issued to underwriters (in shares)	900,000	1,458,336	810,000
Pre funded warrants issued in lieu of common shares to underwriters	1,075,271	4,166,690
Original Stock Option Plan
Temporary Equity [Line Items]
Shares granted with respect to maximum fixed amount equal, percentage				20.00%
Shares available for issuance, vesting period				4 years
Share-based compensation arrangement by share-based payment award, expiration period					10 years
New Stock Option Plan
Temporary Equity [Line Items]
Proceeds from stock options exercised					$ 7,111	5,498	682
Option exercised intrinsic value					$ 19,446	$ 9,416	$ 2,388
U.S Dollar Under the New Option Stock Plan
Temporary Equity [Line Items]
Maximum number of common shares reserved for issuance (in shares)					8,654,682
Shares issuable upon exercise of stock options (in shares)					6,075,895
Expected average life of options					6 years 10 days	6 years 10 days	5 years 10 months 17 days
U.S Dollar Under the New Option Stock Plan \| Forecast
Temporary Equity [Line Items]
Maximum number of common shares reserved for issuance increase in percentage								4.00%
Employees Stock Purchase Plan
Temporary Equity [Line Items]
Maximum eligible employees contribution under ESPP					15.00%
Purchase of shares under ESPP, maximum limit for each employee					$ 25
Compensation charge					803	$ 326
Total amount contributed by ESPP participants					$ 926	435
Restricted Stock Units (RSUs)
Temporary Equity [Line Items]
Shares available for issuance, vesting period					3 years
Nonvested award, cost not yet recognized, amount					$ 1,510
Nonvested award, cost not yet recognized, period for recognition					1 year 6 months 21 days
Compensation charge					$ 1,387	$ 0	$ 0
Director
Temporary Equity [Line Items]
Shares available for issuance, vesting period				3 years

Shareholders' Equity - Summary of RSUs Outstanding (Details) - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Number of RSUs
Outstanding, December 31, 2019 (in shares) \| shares	0
Granted (in shares) \| shares	82,704
Vested and settled (in shares) \| shares	0
Forfeited (in shares) \| shares	0
Outstanding, December 31, 2020 (in shares) \| shares	82,704
Weighted- average grant date fair value ($)
Outstanding, December 31, 2019 (in dollars per shares) \| $ / shares	$ 0
Granted (in dollars per share) \| $ / shares	35.19
Vested and settled (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	0
Outstanding, December 31, 2020 (in dollars per shares) \| $ / shares	$ 35.19

Shareholders' Equity - Summary of Stock Options Granted (Detail) $ / shares in Units, $ / shares in Units, $ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2020 CAD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) $ / shares shares	Dec. 31, 2020 CAD ($) $ / shares shares	Dec. 31, 2019 CAD ($)	Dec. 31, 2018 CAD ($)
Number of Options
Granted (in shares)	413,750	413,750
Canadian Dollar Under the New Option Stock Plan
Number of Options
Outstanding, beginning balance (in shares)	2,356,413	2,356,413	2,445,990	2,445,990
Granted (in shares)	413,750	413,750	358,800	358,800
Expired (in shares)	0	0	(1,047)	(1,047)
Exercised (in shares)	(404,963)	(404,963)	(403,553)	(403,553)
Forfeited (in shares)	(79,631)	(79,631)	(43,777)	(43,777)
Outstanding, ending balance (in shares)	2,285,569	2,285,569	2,356,413	2,356,413	2,445,990	2,445,990
Exercisable (in shares)	1,594,793						1,594,793
Vested and expected to vest (in shares)	2,244,532						2,244,532
Weighted- Average Exercise Price ($)
Beginning balance (in dollars per share) \| (per share)	$ 12.46	$ 16.21	$ 10.74	$ 14.66
Granted (in dollars per share) \| (per share)	36.25	49.22	17.14	22.92
Expired (in dollars per share) \| (per share)	0	0	3.65	4.75
Exercised (in dollars per share) \| (per share)	10.48	13.82	9.46	12.53
Forfeited (in dollars per share) \| (per share)	25.30	33.89	13.91	18.42
Ending balance (in dollars per share) \| (per share)	17.27	22.00	$ 12.46	$ 16.21	$ 10.74	$ 14.66
Exercisable (in dollars per share) \| (per share)	12.46	$ 15.89
Vested and expected to vest (in dollars per share) \| (per share)	$ 17.03						$ 21.72
Weighted- Average Contractual Term (years)
Weighted-average contractual term, outstanding	6 years 5 months 15 days	6 years 5 months 15 days	6 years 8 months 12 days	6 years 8 months 12 days	6 years 11 months 26 days	6 years 11 months 26 days
Weighted-average contractual term, exercisable	5 years 5 months 1 day	5 years 5 months 1 day
Weighted-average contractual term, vested and expected to vest	6 years 4 months 6 days	6 years 4 months 6 days
Aggregate intrinsic value ($)
Aggregate intrinsic value outstanding	$ 68,664		$ 77,807	$ 77,807	$ 10,571	$ 10,571	$ 87,545	$ 101,404	$ 14,421
Aggregate intrinsic value exercisable	55,424	$ 70,665
Aggregate intrinsic value vested and expected to vest \| $							$ 86,461
Vested and expected to vest \| $	$ 67,814
U.S Dollar Under the New Option Stock Plan
Number of Options
Outstanding, beginning balance (in shares)	2,853,346	2,853,346	1,539,778	1,539,778
Granted (in shares)	1,247,550	1,247,550	1,501,750	1,501,750
Expired (in shares)	0	0	0	0
Exercised (in shares)	(197,195)	(197,195)	(126,108)	(126,108)
Forfeited (in shares)	(113,375)	(113,375)	(62,074)	(62,074)
Outstanding, ending balance (in shares)	3,790,326	3,790,326	2,853,346	2,853,346	1,539,778	1,539,778
Exercisable (in shares)	1,500,039						1,500,039
Vested and expected to vest (in shares)	3,655,033						3,655,033
Weighted- Average Exercise Price ($)
Beginning balance (in dollars per share) \| $ / shares	$ 15.85		$ 11.67
Granted (in dollars per share) \| $ / shares	37.11		19.89
Expired (in dollars per share) \| $ / shares	0		0
Exercised (in dollars per share) \| $ / shares	14.59		13.32
Forfeited (in dollars per share) \| $ / shares	18.01		14.91
Ending balance (in dollars per share) \| $ / shares	22.85		$ 15.85		$ 11.67
Exercisable (in dollars per share) \| $ / shares	14.20
Vested and expected to vest (in dollars per share) \| $ / shares	$ 22.61
Weighted- Average Contractual Term (years)
Weighted-average contractual term, outstanding	8 years 2 months 12 days	8 years 2 months 12 days	8 years 7 months 28 days	8 years 7 months 28 days	9 years 7 days	9 years 7 days
Weighted-average contractual term, exercisable	7 years 5 months 1 day	7 years 5 months 1 day
Weighted-average contractual term, vested and expected to vest	8 years 2 months 4 days	8 years 2 months 4 days
Aggregate intrinsic value ($)
Aggregate intrinsic value outstanding \| $	$ 92,705		$ 84,481	$ 84,481	$ 4,876	$ 4,876
Aggregate intrinsic value exercisable \| $	49,588
Aggregate intrinsic value vested and expected to vest \| $	$ 90,264

Shareholders' Equity - Schedule of Non-Vested Stock Option Activity (Detail)	12 Months Ended
	Dec. 31, 2020 $ / shares shares	Dec. 31, 2020 $ / shares shares
Number of options
Non-vested, beginning balance (in shares)	733,129	733,129
Options granted (in shares)	413,750	413,750
Options vested (in shares)	(377,519)	(377,519)
Options forfeited and cancelled (in shares)	(78,584)	(78,584)
Non-vested, ending balance (in shares)	690,776	690,776
Weighted-average grant date fair value
Non-vested, beginning balance (in dollars per share) \| (per share)	$ 12.30	$ 16.03
Options granted (in dollars per share) \| (per share)	25.43	32.42
Options vested (in dollars per share) \| (per share)	14.71	18.76
Options forfeited and cancelled (in dollars per share) \| (per share)	19.53	24.90
Non-vested, ending balance (in dollars per share) \| (per share)	$ 19.17	$ 24.44
Share-based Payment Arrangement, Option
Number of options
Non-vested, beginning balance (in shares)	2,140,923	2,140,923
Options granted (in shares)	1,247,550	1,247,550
Options vested (in shares)	(984,811)	(984,811)
Options forfeited and cancelled (in shares)	(113,375)	(113,375)
Non-vested, ending balance (in shares)	2,290,287	2,290,287
Weighted-average grant date fair value
Non-vested, beginning balance (in dollars per share) \| $ / shares	$ 11.21
Options granted (in dollars per share) \| $ / shares	24.55
Options vested (in dollars per share) \| $ / shares	10.54
Options forfeited and cancelled (in dollars per share) \| $ / shares	10.83
Non-vested, ending balance (in dollars per share) \| $ / shares	$ 18.75

Shareholders' Equity - Schedule of Stock-based Compensation Expense for Equity Classified Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Research and development expenses	$ 168,534	$ 115,900	$ 56,926
General and administrative expenses	57,885	64,177	29,457
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation charge	1,387	0	0
Research and Development Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation for equity classified instruments	12,299	5,939	2,203
Change in fair value of liability classified instruments	(6)	8,358	2,032
Research and development expenses	12,293	14,297	4,235
General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation for equity classified instruments	14,645	6,737	3,693
Change in fair value of liability classified instruments	1,416	27,470	5,362
General and administrative expenses	16,061	34,207	9,055
Finance Expense (Income)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation for equity classified instruments	0	0	1
Change in fair value of liability classified instruments	(41)	166	150
Finance expenses	$ (41)	$ 166	$ 151

Shareholders' Equity - Schedule of Estimated Fair Value of Stock Options Assumptions (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected average life of options	10 years
Canadian Dollar Under the New Option Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%	0.00%
Expected volatility	76.33%	73.59%	66.25%
Risk-free interest rate	0.60%	1.47%	2.18%
Expected average life of options	6 years 25 days	6 years 18 days	5 years 10 months 28 days
Number of liability classified stock options outstanding (in shares)	2,285,569	2,356,413	2,445,990
U.S Dollar Under the New Option Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%	0.00%
Expected volatility	76.95%	73.15%	66.78%
Risk-free interest rate	0.68%	2.23%	2.69%
Expected average life of options	6 years 10 days	6 years 10 days	5 years 10 months 17 days
Number of liability classified stock options outstanding (in shares)	3,790,326	2,853,346	1,539,778
Liability Classified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Expected volatility	77.20%	76.09%
Risk-free interest rate	0.43%	1.68%
Expected average life of options	2 years 5 months 19 days	3 years 4 months 17 days
Number of liability classified stock options outstanding (in shares)	1,028,676	1,249,365

Government Grants and Credits - Component of Government Grants and Credits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
CEWS and other subsidies
Government Grants And Credits [Line Items]
Research and development collaborations (note 13)	$ 3,031	$ 0	$ 0
SR&ED credits (expense), net
Government Grants And Credits [Line Items]
Research and development collaborations (note 13)	142	110	(5)
Grant
Government Grants And Credits [Line Items]
Research and development collaborations (note 13)	$ 3,173	$ 110	$ (5)

Government Grants and Credits - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Government Grants And Credits [Line Items]
Accrued refundable investment tax credits	$ 142
Canada Emergency Wage Subsidy
Government Grants And Credits [Line Items]
Research and development collaborations (note 13)	$ 3,005

Research, Collaboration and Licensing Agreements - Schedule Of Collaborative Arrangements and Noncollaborative Arrangement Transactions (Detail) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended								12 Months Ended			31 Months Ended
	Nov. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 13)			$ 15,680	$ 2,643	$ 12,359	$ 8,269	$ 1,877	$ 7,860	$ 7,882	$ 11,925	$ 38,951	$ 29,544	$ 53,019
Research support payments and other payments
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 13)											7,951	4,014	489
Bei Gene \| Up-front Technology Access Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 13)											0	3,530	23,530
Bei Gene \| Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 13)	$ 10,000	$ 5,000									15,000	0	0
BMS
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 13)												0	0
BMS \| Option Exercise Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 13)											0	7,500	4,000
Iconic Therapeutics Inc \| Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 13)											0	1,000	0
Iconic Therapeutics Inc \| Partner Revenue
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 13)											4,000	0	0
Merck Sharp and Dohme Research Ltd. \| Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 13)											0	2,000	0
Eli Lilly and Company \| Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 13)											0	8,000	2,000
Daiichi Sankyo, Co., Ltd \| Up-front Technology Access Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 13)											0	0	18,000	$ 18,000
Daiichi Sankyo, Co., Ltd \| Commercial License Option Exercise
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 13)											0	3,500	0
LEO Pharma \| Up-front Technology Access Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development collaborations (note 13)											$ 0	$ 0	$ 5,000

Research, Collaboration and Licensing Agreements - Additional Information - Strategic Partnership Revenue (Detail) - USD ($)	Dec. 31, 2020	Jul. 31, 2020	Dec. 31, 2019
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Contract assets	$ 0		$ 0
Contract liabilities	$ 32,941,000		$ 32,941,000
Merck Sharp and Dohme Research Ltd.
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Maximum exercise fees and milestone payments		$ 419,300,000
Maximum milestone payments and tiered royalties		$ 502,500,000

Research, Collaboration and Licensing Agreements - Additional Information - Merck (Detail) - USD ($)		3 Months Ended								12 Months Ended			112 Months Ended
	Aug. 22, 2011	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue		$ 15,680,000	$ 2,643,000	$ 12,359,000	$ 8,269,000	$ 1,877,000	$ 7,860,000	$ 7,882,000	$ 11,925,000	$ 38,951,000	$ 29,544,000	$ 53,019,000
Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Merck Sharp and Dohme Research Ltd. \| Research Support Payments
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue													$ 5,500,000
Merck Sharp and Dohme Research Ltd. \| Research and License Agreement \| Arrangement Other than Collaborative \| Eligible to Receive \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 190,750,000
Merck Sharp and Dohme Research Ltd. \| Research and License Agreement \| Arrangement Other than Collaborative \| Eligible to Receive \| Maximum \| Investigational New Drug
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										4,000,000.0
Merck Sharp and Dohme Research Ltd. \| Research and License Agreement \| Arrangement Other than Collaborative \| Eligible to Receive \| Maximum \| Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										66,000,000.0
Merck Sharp and Dohme Research Ltd. \| Research and License Agreement \| Arrangement Other than Collaborative \| Eligible to Receive \| Maximum \| Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										$ 114,000,000.0
Merck Sharp and Dohme Research Ltd. \| Research and License Agreement \| Arrangement Other than Collaborative \| Up-front Technology Access Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue													$ 1,250,000

Research, Collaboration and Licensing Agreements - Additional Information - Lilly (Detail) - USD ($)		3 Months Ended								12 Months Ended			84 Months Ended
	Dec. 17, 2013	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue		$ 15,680,000	$ 2,643,000	$ 12,359,000	$ 8,269,000	$ 1,877,000	$ 7,860,000	$ 7,882,000	$ 11,925,000	$ 38,951,000	$ 29,544,000	$ 53,019,000
Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Eli Lilly and Company \| Research Support Payments
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue													$ 3,000,000.0
Eli Lilly and Company \| License Agreement \| Collaborative Arrangement \| Eligible to Receive \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payment	$ 52,000,000.0
Eli Lilly and Company \| License Agreement \| Collaborative Arrangement \| Eligible to Receive \| Maximum \| Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payment										8,000,000.0
Eli Lilly and Company \| License Agreement \| Collaborative Arrangement \| Eligible to Receive \| Maximum \| Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payment										$ 40,000,000.0
Eli Lilly and Company \| License Agreement \| Collaborative Arrangement \| Up-front Technology Access Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue													$ 1,000,000.0

Research, Collaboration and Licensing Agreements - Additional Information - Lilly Two (Detail) - USD ($)		3 Months Ended								12 Months Ended			74 Months Ended
	Oct. 22, 2014	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue		$ 15,680,000	$ 2,643,000	$ 12,359,000	$ 8,269,000	$ 1,877,000	$ 7,860,000	$ 7,882,000	$ 11,925,000	$ 38,951,000	$ 29,544,000	$ 53,019,000
Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Eli Lilly and Company \| License Agreement \| Collaborative Arrangement \| Project Two \| Research and Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue													$ 10,000,000.0
Eli Lilly and Company \| License Agreement \| Collaborative Arrangement \| Project Two \| Eligible to Receive \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 125,000,000.0
Eli Lilly and Company \| License Agreement \| Collaborative Arrangement \| Project Two \| Eligible to Receive \| Maximum \| Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										20,000,000.0
Eli Lilly and Company \| License Agreement \| Collaborative Arrangement \| Project Two \| Eligible to Receive \| Maximum \| Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										$ 95,000,000.0

Research, Collaboration and Licensing Agreements - Additional Information - Celgene (Detail)		3 Months Ended								12 Months Ended			72 Months Ended
	Dec. 23, 2014 USD ($) unit_Program	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2020 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue		$ 15,680,000	$ 2,643,000	$ 12,359,000	$ 8,269,000	$ 1,877,000	$ 7,860,000	$ 7,882,000	$ 11,925,000	$ 38,951,000	$ 29,544,000	$ 53,019,000
Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Celgene
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										$ 12,000,000
Celgene \| License Agreement \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative agreement expansion fee	$ 4,000,000.0
Number of potential products to developed and commercialized \| unit_Program	10
Celgene \| License Agreement \| Collaborative Arrangement \| Option Exercise Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue													$ 7,500,000
Celgene \| License Agreement \| Collaborative Arrangement \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 164,000,000.0
Celgene \| License Agreement \| Collaborative Arrangement \| Eligible to Receive \| License Option
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	7,500,000
Celgene \| License Agreement \| Collaborative Arrangement \| Eligible to Receive \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payment	1,640,000,000
Celgene \| License Agreement \| Collaborative Arrangement \| Eligible to Receive \| Maximum \| Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	101,500,000
Celgene \| License Agreement \| Collaborative Arrangement \| Eligible to Receive \| Maximum \| Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	55,000,000.0
Celgene \| License Agreement \| Collaborative Arrangement \| Up-front Technology Access Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 8,000,000.0

Research, Collaboration and Licensing Agreements - Additional Information - GSK (Detail) - USD ($)		3 Months Ended								12 Months Ended
	Dec. 01, 2015	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue		$ 15,680,000	$ 2,643,000	$ 12,359,000	$ 8,269,000	$ 1,877,000	$ 7,860,000	$ 7,882,000	$ 11,925,000	$ 38,951,000	$ 29,544,000	$ 53,019,000
Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										$ 0
Glaxo Smith Kline Intellectual Property Development Ltd \| License Agreement \| Collaborative Arrangement \| Eligible to Receive \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 1,100,000,000
Glaxo Smith Kline Intellectual Property Development Ltd \| License Agreement \| Collaborative Arrangement \| Eligible to Receive \| Maximum \| Research Development and Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 110,000,000.0

Research, Collaboration and Licensing Agreements - Additional Information - GSK Two (Detail) - USD ($)		3 Months Ended								12 Months Ended			56 Months Ended
	Apr. 21, 2016	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue		$ 15,680,000	$ 2,643,000	$ 12,359,000	$ 8,269,000	$ 1,877,000	$ 7,860,000	$ 7,882,000	$ 11,925,000	$ 38,951,000	$ 29,544,000	$ 53,019,000
Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Glaxo Smith Kline Intellectual Property Development Ltd \| Eligible to Receive \| Maximum \| Milestone and Other Payments
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 1,100,000,000
Glaxo Smith Kline Intellectual Property Development Ltd \| Platform Technology Transfer and License Agreement \| Arrangement Other than Collaborative \| Technology Access Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue													$ 6,000,000.0
Glaxo Smith Kline Intellectual Property Development Ltd \| Platform Technology Transfer and License Agreement \| Arrangement Other than Collaborative \| Eligible to Receive \| Maximum \| Research Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										37,500,000
Glaxo Smith Kline Intellectual Property Development Ltd \| Platform Technology Transfer and License Agreement \| Arrangement Other than Collaborative \| Eligible to Receive \| Maximum \| Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										183,500,000
Glaxo Smith Kline Intellectual Property Development Ltd \| Platform Technology Transfer and License Agreement \| Arrangement Other than Collaborative \| Eligible to Receive \| Maximum \| Commercial Sales Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										$ 867,000,000.0

Research, Collaboration and Licensing Agreements - Additional Information - Daiichi Sankyo (Detail) - USD ($)		3 Months Ended								12 Months Ended			39 Months Ended
	Sep. 26, 2016	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue		$ 15,680,000	$ 2,643,000	$ 12,359,000	$ 8,269,000	$ 1,877,000	$ 7,860,000	$ 7,882,000	$ 11,925,000	$ 38,951,000	$ 29,544,000	$ 53,019,000
Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Cross License Agreement \| Collaborative Arrangement \| Eligible to Receive \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalty percentage earned from sales of product	10.00%
Daiichi Sankyo, Co., Ltd \| Cross License Agreement \| Collaborative Arrangement \| Technology Access Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue													$ 2,000,000.0
Daiichi Sankyo, Co., Ltd \| Cross License Agreement \| Collaborative Arrangement \| Research, Development, Commercial License Option Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue													$ 4,500,000
Daiichi Sankyo, Co., Ltd \| Cross License Agreement \| Collaborative Arrangement \| Commercial Milestones \| Eligible to Receive \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										80,000,000.0
Daiichi Sankyo, Co., Ltd \| Cross License Agreement \| Collaborative Arrangement \| Development Milestone \| Eligible to Receive \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payment										$ 63,400,000
Daiichi Sankyo, Co., Ltd \| Cross License Agreement \| Collaborative Arrangement \| Milestone and Other Payments \| Eligible to Receive \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Milestone payment	$ 149,900,000

Research, Collaboration and Licensing Agreements - Additional Information - Daiichi Sankyo Two (Detail) - USD ($)		3 Months Ended								12 Months Ended			31 Months Ended
	May 30, 2018	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue		$ 15,680,000	$ 2,643,000	$ 12,359,000	$ 8,269,000	$ 1,877,000	$ 7,860,000	$ 7,882,000	$ 11,925,000	$ 38,951,000	$ 29,544,000	$ 53,019,000
Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Daiichi Sankyo, Co., Ltd \| Up-front Technology Access Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0	$ 0	$ 18,000,000	$ 18,000,000.0
Daiichi Sankyo, Co., Ltd \| License Agreement \| Arrangement Other than Collaborative \| Eligible to Receive \| Royalty
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalty agreement term	10 years
Daiichi Sankyo, Co., Ltd \| License Agreement \| Arrangement Other than Collaborative \| Eligible to Receive \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 484,700,000
Daiichi Sankyo, Co., Ltd \| License Agreement \| Arrangement Other than Collaborative \| Eligible to Receive \| Maximum \| Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										126,700,000
Daiichi Sankyo, Co., Ltd \| License Agreement \| Arrangement Other than Collaborative \| Eligible to Receive \| Maximum \| Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										$ 340,000,000.0
Daiichi Sankyo, Co., Ltd \| License Agreement \| Arrangement Other than Collaborative \| Eligible to Receive \| Maximum \| Royalty
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalty percentage earned from sales of product	10.00%

Research, Collaboration and Licensing Agreements - Additional Information - Janssen (Detail) - USD ($)		3 Months Ended								12 Months Ended			38 Months Ended
	Nov. 13, 2017	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue		$ 15,680,000	$ 2,643,000	$ 12,359,000	$ 8,269,000	$ 1,877,000	$ 7,860,000	$ 7,882,000	$ 11,925,000	$ 38,951,000	$ 29,544,000	$ 53,019,000
Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Janssen Biotech, Inc. \| License Agreement \| Collaborative Arrangement \| Up-front Technology Access Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue													$ 50,000,000.0
Janssen Biotech, Inc. \| License Agreement \| Collaborative Arrangement \| Development Milestone \| Eligible to Receive \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										282,000,000.0
Janssen Biotech, Inc. \| License Agreement \| Collaborative Arrangement \| Commercial Milestones \| Eligible to Receive \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										$ 1,120,000,000
Janssen Biotech, Inc. \| License Agreement \| Collaborative Arrangement \| Royalty
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalty agreement term	10 years
Payment for royalty	$ 10,000,000.0
Janssen Biotech, Inc. \| License Agreement \| Collaborative Arrangement \| License and Milestone Payments \| Eligible to Receive \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 1,450,000,000

Research, Collaboration and Licensing Agreements - Additional Information - LEO (Detail) - USD ($)		3 Months Ended								12 Months Ended
	Oct. 23, 2018	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue		$ 15,680,000	$ 2,643,000	$ 12,359,000	$ 8,269,000	$ 1,877,000	$ 7,860,000	$ 7,882,000	$ 11,925,000	$ 38,951,000	$ 29,544,000	$ 53,019,000
Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										0
LEO Pharma \| Up-front Technology Access Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue										$ 0	$ 0	5,000,000
LEO Pharma \| Research and License Agreement \| Collaborative Arrangement \| First Therapeutic
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalty payments on future global net sales	20.00%
LEO Pharma \| Research and License Agreement \| Collaborative Arrangement \| First Therapeutic \| Maximum \| Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 74,000,000.0
LEO Pharma \| Research and License Agreement \| Collaborative Arrangement \| First Therapeutic \| Maximum \| Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	157,000,000.0
LEO Pharma \| Research and License Agreement \| Collaborative Arrangement \| Second Therapeutic \| Maximum \| Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	86,500,000
LEO Pharma \| Research and License Agreement \| Collaborative Arrangement \| Second Therapeutic \| Maximum \| Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 157,000,000.0
LEO Pharma \| Research and License Agreement \| Collaborative Arrangement \| Up-front Technology Access Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue												$ 5,000,000.0

Research, Collaboration and Licensing Agreements - Additional Information - BeiGene (Detail)		1 Months Ended		3 Months Ended								12 Months Ended
	Nov. 26, 2018 USD ($) Agreement	Nov. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue				$ 15,680,000	$ 2,643,000	$ 12,359,000	$ 8,269,000	$ 1,877,000	$ 7,860,000	$ 7,882,000	$ 11,925,000	$ 38,951,000	$ 29,544,000	$ 53,019,000
Contract liabilities				32,941,000				32,941,000				32,941,000	32,941,000
Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue												0
Development Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue												0
License Agreement \| Collaborative Arrangement \| Up-front Technology Access Fee \| ZW25 and ZW49 Agreements
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Contract liabilities				$ 32,941,000				$ 32,941,000				32,941,000	32,941,000
Bei Gene \| Milestone
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue		$ 10,000,000.0	$ 5,000,000.0									15,000,000	0	0
Bei Gene \| Up-front Technology Access Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue												$ 0	$ 3,530,000	23,530,000
Bei Gene \| Research and License Agreement \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Fair value of consideration allocated to a group of contracts that were considered as a single contract														20,000,000.0
Bei Gene \| Research and License Agreement \| Collaborative Arrangement \| Bispecific Therapeutic \| Maximum \| Commercial and Development Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 702,000,000.0
Bei Gene \| Research and License Agreement \| Collaborative Arrangement \| Up-front Technology Access Fee \| Bispecific Therapeutic
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 20,000,000.0
Bei Gene \| License Agreement \| Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of agreements \| Agreement	3
Fair value of consideration allocated to a group of contracts that were considered as a single contract														40,000,000.0
Bei Gene \| License Agreement \| Collaborative Arrangement \| ZW25 Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Fair value of consideration allocated to a group of contracts that were considered as a single contract	$ 7,100,000
Bei Gene \| License Agreement \| Collaborative Arrangement \| ZW25 and ZW49 Agreements
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalty payments on future global net sales	20.00%
Bei Gene \| License Agreement \| Collaborative Arrangement \| ZW25 and ZW49 Agreements \| Maximum \| Commercial Milestones
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue	$ 390,000,000.0
Bei Gene \| License Agreement \| Collaborative Arrangement \| Up-front Technology Access Fee
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront payment received														$ 60,000,000.0

Research, Collaboration and Licensing Agreements - Additional Information - Iconic (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended								12 Months Ended			20 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue		$ 15,680	$ 2,643	$ 12,359	$ 8,269	$ 1,877	$ 7,860	$ 7,882	$ 11,925	$ 38,951	$ 29,544	$ 53,019
Iconic Therapeutics Inc \| Milestone Payment
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue													$ 1,000
Iconic Therapeutics Inc \| Research and License Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Portion of fee received	$ 4,000
Iconic Therapeutics Inc \| Up-front Technology Access Fee \| Research and License Agreement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Option Fee, Total	$ 20,000

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Subparagraph (a)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Other expense, net -Schedule Of Other Non operating Income Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Income and Expenses [Abstract]
Foreign exchange (loss) gain	$ 1,683	$ (567)	$ 72
Change in fair value of warrant liabilities (note 10)	0	0	(3,565)
Other	(35)	(28)	(135)
Total	$ 1,648	$ (595)	$ (3,628)

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Line Items]
Expected income tax rate	27.00%	27.00%	27.00%
Net operating loss carry forwards	$ 265,100	$ 122,300
Tax credit carryforward, amount	11,744	8,100
Research
Income Tax Disclosure [Line Items]
Tax credit carryforward, amount	$ 69,500	$ 58,200
Earliest Tax Year
Income Tax Disclosure [Line Items]
Operating loss carry forwards, expiration year	2035
Tax credit carryforward, expiration year	2029
Earliest Tax Year \| CANADA
Income Tax Disclosure [Line Items]
Income tax examination, year under examination	2006
Earliest Tax Year \| UNITED STATES
Income Tax Disclosure [Line Items]
Income tax examination, year under examination	2017
Latest Tax Year
Income Tax Disclosure [Line Items]
Operating loss carry forwards, expiration year	2040
Tax credit carryforward, expiration year	2040
Latest Tax Year \| CANADA
Income Tax Disclosure [Line Items]
Income tax examination, year under examination	2020
Latest Tax Year \| UNITED STATES
Income Tax Disclosure [Line Items]
Income tax examination, year under examination	2020

Income Taxes - Schedule of Income Tax Expense (Recovery) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Current income tax expense	$ (292)	$ (1,373)	$ (2,188)
Deferred income tax (expense) recovery	(137)	1,955	17
Income tax (expense) recovery	$ (429)	$ 582	$ (2,171)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Computed taxes at Canadian tax rate	$ 48,627	$ 39,453	$ 9,284
Non-deductible expenses	(9,191)	(13,020)	(4,311)
Difference between domestic and foreign tax rate	185	104	14
Effect of change in tax rates	0	(10)	(2)
Adjustments to prior year	(441)	(39)	(543)
Change in valuation allowance	(48,411)	(29,057)	(9,340)
Share issuance costs in equity	5,385	3,578	1,906
Change in recognition and measurement of tax positions	0	(2,391)	(672)
Changes due to SR&ED and research credits	4,067	2,200	1,668
Other	(650)	(236)	(175)
Income tax (expense) recovery	$ (429)	$ 582	$ (2,171)

Income Taxes - Summary of Significant Components of Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Non-capital losses carried forward	$ 71,566	$ 33,016
Deferred revenue	8,894	8,894
Share issue costs	8,365	5,473
Property and equipment	1,423	1,731
Intangible assets	1,352	191
Research and development deductions and credits	27,994	21,813
Contingent consideration	366	264
Stock options	2,038	1,242
Operating lease liability	1,837	1,540
Other	280	157
Gross deferred tax assets	124,115	74,321
Deferred tax liabilities:
Property and equipment	(1,296)	(583)
IPR&D	(4,760)	(4,760)
Operating lease right-of-use assets	(1,181)	(1,016)
Outside basis difference in foreign subsidiary	(1,178)	(434)
Other	0	26
Gross deferred tax liabilities	(8,415)	(6,767)
Deferred tax assets liabilities before valuation allowance	115,700	67,554
Less: valuation allowance	(115,155)	(66,744)
Net deferred tax assets	545	810
Deferred tax asset	1,723	1,218
Deferred tax liability	(1,178)	(408)
Deferred Tax Net
Deferred tax liabilities:
Net deferred tax assets	$ 545	$ 810

Income Taxes - Summary of Expiry Details of Investment Tax Credits, Non-Capital Losses and Net Operating Losses for Income Tax Purposes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Investment tax credits	$ 11,744	$ 8,100
Non-capital losses	$ 265,061
Tax Year 2029
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Expiry Date	2029
Investment tax credits	$ 1,169
Non-capital losses	$ 0
Tax Year 2030
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Expiry Date	2030
Investment tax credits	$ 1,365
Non-capital losses	$ 0
Tax Year 2031
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Expiry Date	2031
Investment tax credits	$ 0
Non-capital losses	$ 0
Tax Year 2032
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Expiry Date	2032
Investment tax credits	$ 0
Non-capital losses	$ 0
Tax Year 2033
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Expiry Date	2033
Investment tax credits	$ 0
Non-capital losses	$ 0
Tax Year 2034
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Expiry Date	2034
Investment tax credits	$ 229
Non-capital losses	$ 0
Tax Year 2035
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Expiry Date	2035
Investment tax credits	$ 1,068
Non-capital losses	$ 3,961
Tax Year 2036
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Expiry Date	2036
Investment tax credits	$ 862
Non-capital losses	$ 24,578
Tax Year 2037
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Expiry Date	2037
Investment tax credits	$ 1,586
Non-capital losses	$ 10,625
Tax Year 2038
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Expiry Date	2038
Investment tax credits	$ 1,485
Non-capital losses	$ 0
Tax Year 2039
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Expiry Date	2039
Investment tax credits	$ 1,818
Non-capital losses	$ 81,253
Tax Year 2040
Summary Of Tax Credit Carry Forward And Operating Loss Carry Forwards [Line Items]
Expiry Date	2040
Investment tax credits	$ 2,162
Non-capital losses	$ 144,644

Income Taxes - Schedule of Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance, beginning of year	$ 3,063	$ 672	$ 0
Increases related to prior year tax positions	0	0	142
Increases related to current year tax positions	0	2,391	530
Balance, end of year	$ 3,063	$ 3,063	$ 672

Leases - Additional Information (Detail) $ in Thousands		12 Months Ended
Leases - Additional Information (Detail) $ in Thousands	Jan. 25, 2019 renewal_option	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Operating lease payments		$ 2,851
Weighted average remaining lease term		4 years
Operating lease expense		$ 3,595	$ 2,845
Fixed lease payment		3,156	2,639
Variable lease payment		439	$ 251
Impairment loss		667
Future lease payments		$ 26,153
BRITISH COLUMBIA \| Building
Operating lease, term of contract	10 years
Number of renewal options \| renewal_option	2
Renewal term	5 years
Canada, Dollars
Discount rate		4.60%
United States of America, Dollars
Discount rate		2.70%

Leases - Schedule of Balance Sheet Classification of Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Current portion	$ 2,710	$ 1,282
Long-term portion	5,812	5,599
Total operating lease liabilities	8,522	6,881
Current portion included in other current liabilities	17	10
Long-term portion included in other long-term liabilities	122	46
Finance lease liabilities	139	56
Total lease liabilities	$ 8,661	$ 6,937

Leases - Schedule of Future Minimum Lease Payment Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Within 1 year	$ 2,838
1 to 2 years	1,712
2 to 3 years	1,641
3 to 4 years	1,546
4 to 5 years	1,186
Thereafter	0
Total operating lease payments	8,923
Imputed interest	(401)
Total operating lease liabilities	$ 8,522	$ 6,881

Leases - Schedule of Maturities of Finance Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Within 1 year	$ 17
1 to 2 years	23
2 to 3 years	23
3 to 4 years	50
4 to 5 years	28
Thereafter	0
Total finance lease payments	141
Imputed interest	(2)
Finance lease liabilities	$ 139	$ 56

Financial Instruments - Schedule of Financial Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Liabilities
Financial liabilities measured at fair value	$ 40,569	$ 46,547
Liability Classified Stock Options
Liabilities
Financial liabilities measured at fair value	39,284	45,569
Liability for Contingent Consideration
Liabilities
Financial liabilities measured at fair value	1,285	978
Level 3
Liabilities
Financial liabilities measured at fair value	40,569	46,547
Level 3 \| Liability Classified Stock Options
Liabilities
Financial liabilities measured at fair value	39,284	45,569
Level 3 \| Liability for Contingent Consideration
Liabilities
Financial liabilities measured at fair value	$ 1,285	$ 978

Financial Instruments - Summary of Changes in Fair Value of the Company's Liability for Contingent Consideration (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Liability Roll Forward [Roll Forward]
Liability at the beginning of the period	$ 978	$ 707
Increase (decrease) in fair value of liability for contingent consideration	307	271	$ 237
Liability at end of the period	$ 1,285	$ 978	$ 707

Financial Instruments - Schedule of Changes in Fair Value of Liability Classified Stock Options (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Derivative Liability Roll Forward [Roll Forward]
Liability at beginning of the period	$ 45,569
Liability at end of the period	39,284	$ 45,569
Liability Classified Stock Options
Derivative Liability Roll Forward [Roll Forward]
Liability at beginning of the period	45,569	12,603
Reclassification to liabilities from equity	110	119
Increase (decrease) in fair value of liability classified stock options	1,369	35,994
Exercise of options	(8,320)	(3,804)
Unrealized foreign currency loss (gain)	556	657
Liability at end of the period	$ 39,284	$ 45,569

Financial Instruments - Additional Information (Detail) $ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2020 CAD ($)
Financial Instruments [Line Items]
Maximum exposure to credit risk for accounts receivable	$ 15,293	$ 2,185
Capital and operating lease due, period	12 months
Net monetary assets	$ 19,600		$ 25.0
Accounts Payable and Accrued Liabilities
Financial Instruments [Line Items]
Financial obligation due period	45 days

Commitment and Contingencies (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Other Commitments [Line Items]
Financial liabilities measured at fair value	$ 40,569	$ 46,547
Liability for Contingent Consideration
Other Commitments [Line Items]
Financial liabilities measured at fair value	$ 1,285	$ 978

Supplemental Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 15,680	$ 2,643	$ 12,359	$ 8,269	$ 1,877	$ 7,860	$ 7,882	$ 11,925	$ 38,951	$ 29,544	$ 53,019
Operating expenses	53,225	76,337	52,708	44,149	75,629	41,424	37,314	26,478
Net loss	$ (37,893)	$ (72,562)	$ (38,961)	$ (31,136)	$ (72,244)	$ (30,475)	$ (29,077)	$ (13,641)	$ (180,552)	$ (145,437)	$ (36,556)
Net loss per common share – basic and diluted (in dollars per share)	$ (0.74)	$ (1.43)	$ (0.77)	$ (0.64)	$ (1.66)	$ (0.70)	$ (0.89)	$ (0.43)	$ (3.58)	$ (3.83)	$ (1.26)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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