Quarterly report pursuant to Section 13 or 15(d)

Clinical Trial Deposit

v3.21.2
Clinical Trial Deposit
3 Months Ended
Sep. 30, 2021
Other Liabilities [Abstract]  
Clinical Trial Deposit

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Clinical trial deposit

In October 2020, the Company announced that it had entered into a final agreement with a contract research organization (“CRO”) for the management of the Company’s registration study for glioblastoma multiforme. Under the agreement, the Company will supply the drug for the study and the CRO will manage all operational aspects of the study including site activation and patient enrollment. The Company is required to make certain payments under the agreement related to patient enrollment milestones. For the three months ended September 30, 2021, the Company has recognized $1,952 (2020 – $nil) of expenses for this study in relation to clinical site initiation and patient enrollment.

In relation to this study, the Company has made a deposit payment of $2,100 to the CRO.  It is anticipated that the deposit will be applied to future invoices, or refunded to the Company, beyond twelve months from September 30, 2021.  The Company can terminate the study at any time.  Upon termination, the Company will be liable for any payments due to the effective date of the termination as well as any non-refundable costs incurred by the CRO prior to the date of termination.