0001171843-21-003878 | 40-F | XBRL Viewer | Medicenna Therapeutics Corp

Document And Entity Information	12 Months Ended
Document And Entity Information	Mar. 31, 2021 shares
Document Information [Line Items]
Entity Registrant Name	Medicenna Therapeutics Corp.
Entity Central Index Key	0001807983
Trading Symbol	mdna
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)	53,547,709
Document Type	40-F
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Title of 12(b) Security	Common shares

Consolidated Statements of Financial Position - CAD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Assets
Cash and cash equivalents (Note 2d)	$ 30,375	$ 22,698
Marketable securities (Note 2d)	10,010	15,003
Prepaids and deposits	1,354	94
Other receivables	410	57
Total current assets	42,149	37,852
Intangible assets (Note 13)	71	76
Right-of-use assets (Note 7)	32	68
Total assets	42,252	37,996
Liabilities
Accounts payable and accrued liabilities (Note 8)	4,073	1,780
Current portion of lease liability (Note 7)	34	35
Total current liabilities	4,107	1,815
Lease liability (Note 7)		32
Total liabilities	4,107	1,847
Shareholders' Equity
Common shares (Note 9)	79,587	56,578
Contributed surplus (Notes 10 and 11)	6,680	10,390
Accumulated other comprehensive income	234	248
Deficit	(48,356)	(31,067)
Total equity	38,145	36,149
Total equity and liabilities	$ 42,252	$ 37,996

Consolidated Statements of Loss and Comprehensive Loss - CAD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Line Items [Line Items]
General and administration (Note 16)	$ 6,525	$ 2,375
Research and development (Note 16)	10,870	5,870
Total operating expenses	17,395	8,245
Finance income (Note 2d)	(314)	(7)
Foreign exchange loss	208	39
Nonoperating income (expense)	(106)	32
Net loss for the year	(17,289)	(8,277)
Cumulative translation adjustment	(14)	91
Comprehensive loss for the year	$ (17,303)	$ (8,186)
Basic and diluted loss per share for the year (in CAD per share)	$ (0.35)	$ (0.26)
Weighted average common shares issued and outstanding, end of year (in shares)	49,661,776	31,899,640

Consolidated Statements of Cash Flows - CAD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating activities
Net loss for the year	$ (17,289)	$ (8,277)
Depreciation	40	8
Stock based compensation	1,006	1,125
Government grant expense recoveries (Note 12)		2,463
Unrealized foreign exchange	267	62
Accrued interest	(15)	(3)
Other receivables and deposits	(1,612)	139
Accounts payable and accrued liabilities	2,292	(932)
Net cash flows from (used in) operating activities	(15,311)	(5,415)
Investing activities
Acquisition of marketable securities	(10,000)	(15,000)
Disposition of marketable securities	15,013
Net cash flows from (used in) investing activities	5,013	(15,000)
Financing activities
Repayment of lease liabilities	(39)	(3)
Issuance of share capital, net of issuance costs (Note 9)	11,411	38,375
Warrant and option exercises (Notes 10 and 11)	6,884	2,373
Net cash flows from (used in) financing activities	18,256	40,745
Effect of foreign exchange on cash	(281)	(3)
Net increase in cash	7,677	20,327
Cash, beginning of year	22,698	2,371
Cash, end of year	30,375	22,698
Other non-cash transactions
Broker warrants issued	69	561
Warrants issued		705
Share issuance costs accrued through accounts payable and accrued liabilities		$ 257

Consolidated Statements of Changes In Shareholders' Equity - CAD ($) $ in Thousands	Shares issued in public offering in October 2019 [member] Issued capital [member]	Shares issued in public offering in October 2019 [member] Share premium [member]	Shares issued in public offering in October 2019 [member]	Shares issued in public offering in March 2020 [member] Issued capital [member]	Shares issued in public offering in March 2020 [member] Share premium [member]	Shares issued in public offering in March 2020 [member]	Over-allotment shares option issued in connection with March 2020 public offering [member] Issued capital [member]	Over-allotment shares option issued in connection with March 2020 public offering [member] Share premium [member]	Over-allotment shares option issued in connection with March 2020 public offering [member]	Shares issued in connection with ATM Offering [member] Issued capital [member]	Shares issued in connection with ATM Offering [member]	Issued capital [member]	Share premium [member]	Accumulated other comprehensive income [member]	Retained earnings [member]	Total
Common shares issued and outstanding, beginning of year (in shares) at Mar. 31, 2019												28,578,137				28,578,137
Balance at Mar. 31, 2019												$ 16,616	$ 8,633	$ 157	$ (22,790)	$ 2,616
Statement Line Items [Line Items]
Stock based compensation													1,125			$ 1,125
Warrant and option exercises (in shares)												1,623,675				482,319
Warrant and option exercises												$ 3,008	(635)			$ 2,373
Issued financing (in shares)	5,307,693			11,290,323
Issued financing	$ 5,319	$ 811	$ 6,130	$ 31,635	$ 456	$ 32,091
Cumulative translation adjustment														91		91
Net loss for the year															(8,277)	$ (8,277)
Common shares issued and outstanding, end of year (in shares) at Mar. 31, 2020												46,799,828				46,799,828
Balance at Mar. 31, 2020												$ 56,578	10,390	248	(31,067)	$ 36,149
Statement Line Items [Line Items]
Stock based compensation													1,006			$ 1,006
Warrant and option exercises (in shares)												3,655,976				1,055,772
Warrant and option exercises												$ 11,667	(4,785)			$ 6,882
Issued financing (in shares)							1,693,548			1,398,357
Issued financing							$ 4,783	$ 69	$ 4,852	$ 6,559	$ 6,559
Cumulative translation adjustment														(14)		(14)
Net loss for the year															(17,289)	$ (17,289)
Common shares issued and outstanding, end of year (in shares) at Mar. 31, 2021												53,547,709				53,547,709
Balance at Mar. 31, 2021												$ 79,587	$ 6,680	$ 234	$ (48,356)	$ 38,145

Note 1 - Nature of Business

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Description of nature of business [text block]

Nature of business

The Company's principal business activity is the development and commercialization of IL-

IL-

and IL-

Superkines and Empowered Superkines for the treatment of cancer and other diseases. Medicenna has

four

wholly owned subsidiaries, Medicenna Therapeutics Inc. (“MTI”) (British Columbia), Medicenna Biopharma Inc. (“MBI”) (Delaware), Medicenna Biopharma Inc. (“MBI”) (British Columbia) and Medicenna Australia PTY Ltd (“MAL”) (Australia). Medicenna is traded on both the Toronto Stock Exchange and the Nasdaq Capital Market (“NASDAQ”) under the symbol ‘'MDNA”. On

March 30, 2021,

the company set up it's wholly owned subsidiary MAL and on

April 15, 2021

set up its wholly owned subsidiary MTU.

As at

March 31, 2021,

the head and registered office is located at

Bloor St W,

Floor, Toronto, Ontario, Canada.

COVID-

Update

March 2020,

the World Health Organization declared the COVID-

outbreak a global pandemic and the Company continues to evaluate the COVID-

situation and monitor any impacts or any potential impacts to the business. Medicenna has implemented health and safety measures in accordance with health officials and guidance from local government authorities. Further, the pandemic has had an impact on the Company's

third

-party vendors resulting in delays in receiving components and supplies which delayed our ability to start certain studies and could result in development delays including the ongoing pre-clinical, manufacturing and planned clinical activities related to

MDNA11.

The Company asked all our business partners to engage us by telephone or video conference where possible, minimizing business travel and requiring self-isolation for employees travelling outside of Canada. As the COVID-

health crisis continues, the Company will continue to rely on guidance and recommendations from local health authorities, Health Canada and the Centers for Disease Control and Prevention to update the Company's policies.

Note 2 - Basis of Presentation and Significant Accounting Policies

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of significant accounting policies [text block]

Basis of presentation and significant accounting policies

Statement of compliance

These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IASB”) (“IFRS”)and the Interpretations of the International Financial Reporting and Interpretations Committee (“IFRIC”).

The Consolidated financial statements were approved by the Company's Board of Directors and authorized for issue on

May 27, 2021.

Principles of Consolidation

These consolidated financial statements include the accounts of the Company and its wholly owned Subsidiaries MTI, MBI, MAL and MBIBC (British Columbia, Inactive). Subsidiaries are fully consolidated from the date at which control is determined to have occurred and are deconsolidated from the date that the Company

longer controls the entity. The financial statements of the subsidiaries are prepared for the same reporting period as the Company using consistent accounting policies. Intercompany transactions, balances, and gains and losses on transactions between subsidiaries are eliminated.

Functional and presentation currency

The functional currency of an entity and its subsidiary is the currency of the primary economic environment in which the entity operates. The functional currency of the parent company is the Canadian dollar and the functional currency of MBI is the US dollar, the functional currency of MTI and MBI BC is the Canadian dollar, the functional currency of MAL is the Australian dollar, and the presentation currency of the Company is the Canadian dollar.

Cash and cash equivalents and marketable securities

Cash and cash equivalents

Cash equivalents include guaranteed investment certificates (

March 31, 2021 -

nil,

March 31, 2020 -

$20.0

million) with a maturity of

days or less and are readily redeemable for cash. The Company has classified its cash and cash equivalents at fair value through profit or loss.

Marketable securities

Marketable securities consist of guaranteed investment certificates with a maturity of greater than

days and less than

one

year. The Company has classified its marketable securities at fair value through profit or loss.

Research and development costs

Expenditures on research and development activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, are recognized in profit or loss as incurred. Investment tax credits related to current expenditures are included in the determination of net income as the expenditures are incurred when there is reasonable assurance they will be realized.

Development activities involve a plan or design for the production of new or substantially improved products and processes. Development expenditures are capitalized only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the Company intends to and has sufficient resources to complete development and to use or sell the asset. These criteria will be deemed by the Company to have been met when revenue is received by the Company and a determination that it has sufficient resources to market and sell its product offerings. Upon a determination that the criteria to capitalize development expenditures have been met, the expenditures capitalized will include the cost of materials, direct labour and overhead costs that are directly attributable to preparing the asset for its intended use. Other development expenditures will be expensed as incurred.

Capitalized development expenditures will be measured at cost less accumulated amortization and accumulated impairment losses.

development costs have been capitalized to date.

Government assistance

Government grants, including grants from similar bodies, consisting of investment tax credits are recorded as a reduction of the related expense or cost of the asset acquired. Government grants are recognized when there is reasonable assurance that the Company has met the requirements of the approved grant program and there is reasonable assurance that the grant will be received.

Research grants that compensate the Company for expenses incurred are recognized in profit, or loss in reduction thereof on a systematic basis in the same years in which the expenses are recognized.

Grants that compensate the Company for the cost of an asset are recognized in profit or loss on a systematic basis over the useful life of the asset.

Intangible assets

The Company owns certain patents, intellectual property licenses and options to acquire intellectual property. The Company expenses patent costs, including license fees and other maintenance costs, until such time as the Company has certainty over the future recoverability of the intellectual property at which time it capitalizes the costs incurred. The Company capitalizes costs directly related to the acquisition of existing license patents. The Company does

not

hold any intangible asset with an indefinite life.

Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset

may

be impaired. The amortization method and amortization period of an intangible asset with a finite life is reviewed at least annually. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset is accounted for by changing the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognized in general and administrative expenses.

Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets from the date they are available for use to

August 31, 2035.

Income taxes

Current tax and deferred tax are recognized in the Company's profit and loss, except to the extent that it relates to a business combination or items recognized directly in equity or in net loss and comprehensive loss.

Current income taxes are recognized for the estimated taxes payable or receivable on taxable income or loss for the current year and any adjustment to income taxes payable in respect of previous years. Current income taxes are determined using tax rates and tax laws that have been enacted or substantively enacted by the period end date.

Deferred tax assets and liabilities are recognized where the carrying amount of an asset or liability differs from its tax base, except for taxable temporary differences arising on the initial recognition of goodwill and temporary differences arising on the initial recognition of an asset or liability in a transaction which is

not

a business combination and at the time of the transaction affects neither accounting nor taxable profit or loss.

Recognition of deferred tax assets for unused tax losses, tax credits and deductible temporary differences is restricted to those instances where it is probable that future taxable profit will be available against which the deferred tax assets can be utilized. At the end of each reporting period, the Company reassesses unrecognized deferred tax assets. The Company recognizes a previously unrecognized deferred tax asset to the extent that it has been probable that future taxable profit will allow the deferred tax asset to be recovered.

Basic and diluted loss per common share

Basic loss per share is computed by dividing the loss available to common shareholders by the weighted average number of common shares outstanding during the year. The computation of diluted earnings per share assumes the conversion, exercise or contingent issuance of securities only when such conversion, exercise or issuance would have a dilutive effect on earnings per share. The dilutive effect of convertible securities is reflected in diluted earnings per share by application of the “if converted” method. The dilutive effect of outstanding options and warrants and their equivalents is reflected in diluted earnings per share. Since the Company has losses, the exercise of outstanding options and warrants have

not

been included in this calculation as it would be anti-dilutive.

Equipment

The Company's fixed assets comprise of computer equipment for use in general and administrative and research activities.

Depreciation is recognized using the straight-line method based on an expected life of the assets


Computer equipment	2 years
Right-of-use-assets	Over the lease term

Impairment of long-lived assets:

The Company's long-lived assets are reviewed for indications of impairment at the date of preparing each statement of financial position. If indication of impairment exists, the asset's recoverable amount is estimated.

An impairment loss is recognized when the carrying value of an asset, or its cash-generating unit, exceeds its recoverable amount. A cash-generating unit is the smallest identifiable group of assets that generates cash inflows that are largely independent of cash inflows from other assets or groups of assets. For the purpose of impairment testing, the Company determined it has

one

cash-generating unit. The recoverable amount is the greater of the asset's fair value less cost to sell and value in use.

Stock-based compensation

The Company has a stock-based compensation plan (the "Plan") available to officers, directors, employees and consultants with grants under the Plan approved by the Company's Board of Directors. Under the Plan, the exercise price of each option equals the closing trading price of the Company's stock on the day prior to the grant or a higher price as determined by the Board of Directors. Vesting is provided for at the discretion of the Board of Directors and the expiration of options is to be

not

greater than

years from the date of grant. The Company uses the fair value-based method of accounting for employee awards granted under the Plan. The Company calculates the fair value of each stock option grant using the Black Scholes option pricing model at the grant date. The stock-based compensation cost of the options is recognized as stock-based compensation expense over the relevant vesting period of the stock options using an estimate of the number of options that will eventually vest.

Stock options awarded to non-employees are accounted for at the fair value of the goods received or the services rendered. The fair value is measured at the date the Company obtains the goods or the date the counterparty renders the service. If the fair value of the goods or services cannot be reliably measured, the fair value of the options granted will be used.

Share Capital

Common shares are classified as equity. Incremental costs directly attributable to the issue of common shares are recognized as a reduction of equity.

The Corporation has adopted a relative fair value method with respect to the measurement of shares and warrants issued as private placement units. The relative fair value method allocates value to each component on a pro-rata basis, based on the fair value of the components calculated independently of

one

another. The Company measures the fair value of the warrant component of the unit using the Black-Scholes option pricing model. The unit value is then allocated, pro-rata, between the

two

components, with the fair value attributed to the warrants being recorded to contributed surplus.

Financial Instruments

Financial assets and liabilities are recognized when the Company becomes a party to the contractual provisions of the instrument. Financial assets are derecognized when the rights to receive cash flows from the assets have expired or have been transferred and the Company has transferred substantially all risks and rewards of ownership.

Financial assets and liabilities are offset and the net amount is reported in the consolidated statement of financial position when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis, or realize the asset and settle the liability simultaneously.

The Company recognizes financial instruments based on their classification. Depending on the financial instruments' classification, changes in subsequent measurements are recognized in net loss and comprehensive loss.

The Company has implemented the following classifications:

Cash, cash equivalents and marketable securities are classified at fair value through profit or loss.

Government grant receivable and amounts receivable are classified as amortized cost. After their initial fair value measurement, they are measured at amortized cost using the effective interest method; and

Accounts payable and accrued liabilities are classified as other amortized cost. After their initial fair value measurement, they are measured at amortized cost using the effective interest method.

Impairment of financial assets

The Company applies the simplified method of the expected credit loss model required under IFRS

Under this method, the Company estimates a lifetime expected loss allowance for all receivables. Receivables are written off when there is

reasonable expectation of recovery.

If there is objective evidence that an impairment loss has been incurred, the amount of the loss is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows. The present value of the estimated future cash flows is discounted at the financial asset's original effective interest rate.

Employee benefits

Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognized for the amount expected to be paid in short-term cash bonuses if the Company expects to pay these amounts as approved by the Board of Directors as a result of past services provided by the employee and the obligation can be estimated reliably.

Provisions

A provision is recognized if, as a result of a past event, the Company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are assessed by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount on provisions is recognized in finance costs. A provision for onerous contracts is recognized when the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it. The provision is measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost of continuing with the contract.

Note 3 - New Standards and Interpretations Not yet Adopted

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of changes in accounting policies [text block]

New standards and interpretations

not

yet adopted

January 2020,

the IASB issued amendments to Presentation of financial statements (“IAS

1”

) to provide a more general approach to the classification of liabilities under IAS

based on the contractual arrangements in place at the reporting date. The amendments to IAS

are effective for annual reporting periods beginning on or after

January 1, 2023.

The company is currently evaluating the potential impacts of adoption.

There are

other standards, interpretations or amendments to existing standards that are

not

yet effective that are expected to have a material impact on the consolidated financial statements of the Corporation.

Note 4 - Key Sources of Estimation Uncertainty and Judgement

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of key sources of estimation uncertainty [text block]

Key sources of estimation uncertainty and judgement

The preparation of consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are accounted for prospectively.

The key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities are discussed below:

Valuation of stock-based compensation and warrants

Management measures the costs for stock-based compensation and warrants using market-based option valuation techniques. Assumptions are made and estimates are used in applying the valuation techniques. These include estimating the future volatility of the share price, expected dividend yield, expected risk-free interest rate, future employee turnover rates, future exercise behaviors and corporate performance. Such estimates and assumptions are inherently uncertain. Changes in these assumptions affect the fair value estimates of stock-based compensation and warrants.

Note 5 - Capital Disclosures

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of objectives, policies and processes for managing capital [text block]

Capital disclosures

The Company's objectives, when managing capital, are to safeguard cash and cash equivalents as well as maintain financial liquidity and flexibility in order to preserve its ability to meet financial obligations and deploy capital to grow its businesses.

The Company's financial strategy is designed to maintain a flexible capital structure consistent with the objectives stated above and to respond to business growth opportunities and changes in economic conditions. In order to maintain or adjust its capital structure, the Company

may

issue shares or issue debt (secured, unsecured, convertible and/or other types of available debt instruments).

There were

changes to the Company's capital management policy during the year. The Company is

not

subject to any externally imposed capital requirements.

Note 6 - Financial Risk Management

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of financial risk management [text block]

Financial risk management

(a)

Fair value

The Company's financial instruments recognized on the Consolidated statements of financial position consist of cash and cash equivalents, marketable securities, government and other receivables, and accounts payable and accrued liabilities. The fair value of these instruments, approximate their carrying values due to their short-term maturity.

Classification of financial instruments

Financial instruments measured at fair value on the statements of financial position are summarized into the following fair value hierarchy levels:

Level

quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level

inputs other than quoted prices included within Level

that are observable for the asset or liability.

Level

inputs for the asset or liability that are

not

based on observable market data (unobservable inputs).

The Company classifies its financial assets and liabilities depending on the purpose for which the financial instruments were acquired, their characteristics, and management intent as outlined below:

Cash and cash equivalents and marketable securities are measured using Level

inputs and changes in fair value are recognized through profit or loss, with changes in fair value being recorded in net income at each year-end.

Other receivables and government receivables are measured at amortized cost less impairments.

Accounts payable and accrued liabilities, deferred government grants and license fee payable are measured at amortized cost.

The Company has exposure to the following risks from its use of financial instruments: credit, interest rate, currency, and liquidity risk. The Company reviews its risk management framework on a quarterly basis and makes adjustments as necessary.

(b)

Credit risk

Credit risk arises from the potential that a counterparty will fail to perform its obligations. The financial instruments that are exposed to concentrations of credit risk consist of cash and cash equivalents and marketable securities.

The Company manages credit risk associated with its cash and cash equivalents and marketable securities by maintaining minimum standards of

-med or A-high investments.

(c)

Interest rate risk

Interest rate risk is the risk that the fair values and future cash flows of the Company will fluctuate because of changes in market interest rates. The Company believes that its exposure to interest rate risk is

not

significant.

(d)

Liquidity risk

Liquidity risk is the risk that the Company will

not

be able to meet its financial obligations as they fall due. The Company currently settles all of its financial obligations out of cash and cash equivalents. The ability to do so relies on the Company maintaining sufficient cash in excess of anticipated needs. As at

March 31, 2021,

the Company's liabilities consist of accounts payable and accrued liabilities that have contracted maturities of less than

one

year.

(e)

Currency risk

Currency risk is the risk that future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Company is exposed to currency risk from employee costs as well as the purchase of goods and services primarily in the United States and cash and cash equivalent balances held in foreign currencies. Fluctuations in the US dollar exchange rate could have a significant impact on the Company's results. Assuming all other variables remain constant, a

10%

depreciation or appreciation of the Canadian dollar against the US dollar would result in an increase or decrease in loss and comprehensive loss for the year ended

March 31, 2021

$938

thousand (

March 31, 2020 -

$108

thousand).

Balances in US dollars are as follows:

	March 31, 2021			March 31, 2020
	$			$
Cash and cash equivalents		9,593			135
Accounts payable and accrued liabilities		(2,147	)		(900	)
		7,446			(765	)

Note 7 - Right-of-use Asset and Lease Liability

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of leases [text block]

7.	Right-of-use asset and lease liability

The Company recognized a right-of-use asset based on the amount equal to the lease liability, adjusted for any related prepaid and accrued lease payments previously recognized. The lease liability was recognized based on the present value of remaining lease payments, discounted using the incremental borrowing rate at the date of initial application. The lease payments include fixed payments less any lease incentives receivable, variable lease payments that depend on an index or rate, and amounts expected to be paid under residual value guarantees. The variable lease payments that do

not

depend on an index or a rate are recognized as expense in the year as incurred.

The carrying amounts of the Company's right-of-use asset and lease liability and movements during the year ended

March 31, 2021

were as follows:

	Right-of-Use Asset			Lease Liability
	$			$
Balance, March 31, 2020		68			67
Depreciation		(36	)		-
Lease payments		-			(39	)
Lease interest		-			6
Balance, March 31, 2021		32			34

Classification:
Current portion of lease liability		-			34
Long-term portion of lease liability		-			-
		-			34

Note 8 - Accounts Payable and Accrued Liabilities

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of trade and other payables [text block]

Accounts payable and accrued liabilities

	March 31, 2021		March 31, 2020
	$		$
Trade payables		2,245		456
Accrued liabilities		1,828		1,324
		4,073		1,780

Note 9 - Share Capital

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of share capital, reserves and other equity interest [text block]

Share capital

Authorized

Unlimited common shares

Equity Issuances

March 17, 2020,

the Company completed a public offering raising total gross proceeds of

$35

million. The Company issued

11,290,323

common shares at

$3.10

per share and issued a

15%

overallotment option to the underwriters. The Company paid commission to the agents totaling

$2.5

million, share issuance costs of

$0.5

million and issued

790,323

warrants to the agents exercisable into

one

common share of the Company at an exercise price of

$3.10

for a period of

months. The fair value of the warrants issued was determined to be

$0.5

million.

April 15, 2020,

the Company announced the full exercise of the overallotment option, issuing an additional

1,693,548

common shares at

$3.10

per share for additional proceeds of

$5.3

million. The Company paid commission to the agents totaling

$368

thousand, share issuance costs of

$32

thousand and issued

118,723

warrants to the agents exercisable into

one

common share of the Company at an exercise price of

$3.10

expiring on

March 17, 2022.

The fair value of the warrants issued was determined to be

$69

thousand.

December 30, 2020,

the Company entered into a sales agreement with SVB Leerink acting as sales agent, pursuant to which the Company

may,

from time to time sell, through at-the-market (“ATM”) on the NASDAQ such number of common shares as would have an aggregate offering price of up to

US$25.0

million (the ATM Offering). The Company plans to use the net proceeds of the ATM offering for general corporate purposes including, but

not

limited to working capital expenditures, research and development expenditures, and clinical trial expenditures. As of

March 31, 2021,

the Company has issued

1,398,357

common shares raising total gross proceeds of

$7.1

million to date. Costs associated with setting up the ATM are approximately

$0.5

million. The Company recorded the total costs associated with the offering as a reduction in share capital, net of gross proceeds.

Calculation of loss per share

Loss per common share is calculated using the weighted average number of common shares outstanding. For the year ended

March 31, 2021

and

2020,

the calculation was as follows:

	2021		2020
Common shares issued and outstanding, beginning of year		46,799,828		28,578,137
Shares issued in March/April 2020 financing		1,623,950		431,870
Shares issued in October 2019 financing		-		2,407,314
ATM issuances		182,226		-
Effect of warrants and options exercised		1,055,772		482,319
Weighted average common shares issued and outstanding, end of year		49,661,776		31,899,640
Common shares issued and outstanding, end of year		53,547,709		46,799,828

The effect of any potential exercise of the Company's stock options and warrants outstanding during the year has been excluded from the calculation of diluted loss per common share as it would be anti- dilutive.

Note 10 - Warrants

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Warrants [text block]

10.

Warrants

Warrant continuity:

	Number of Warrants			Weighted average exercise price
Balance outstanding at March 31, 2019		5,145,083		$	1.65
Common share purchase warrants issued in the October 2019 financing		2,653,846			1.75
Broker warrants issued in the financing October 2019 financing		350,134			1.30
Broker warrants issued in the March 2020 financing		790,323			3.10
Warrants exercised during the year		(1,623,675	)		1.46
Warrants outstanding at March 31, 2020		7,315,711		$	1.86
Broker warrants issued in overallotment		118,548			3.10
Warrants exercised during the year		(3,415,266	)		1.96
Warrants outstanding at March 31, 2021		4,018,993			1.82

The following warrants were exercised during the year ended

March 31, 2021:

Number of Warrants		Exercise Price		Proceeds		Expiry Date
		$		$
	57,500		1.20		69,000	December 21, 2020
	115,000		1.20		138,000	December 21, 2023
	139,759		1.30		181,687	October 17, 2021
	152,214		1.75		266,375	October 17, 2022
	2,812,083		2.00		5,624,166	January 1, 2021
	138,710		3.10		430,001	March 17, 2022
	3,415,266				6,709,229

March 31, 2021,

warrants were outstanding and exercisable, enabling holders to acquire common shares as follows:

Number of Warrants		Exercise Price		Expiry Date
			$
	18,000		2.00	April 5, 2021
	71,744		1.30	October 17, 2021
	770,161		3.10	March 17, 2022
	1,806,088		1.75	October 17, 2022
	1,353,000		1.20	December 21, 2023
	4,018,993

Note 11 - Stock Options

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of share-based payment arrangements [text block]

11.

Stock options

Year ended

March 31, 2021

During the year ended

March 31, 2021,

the Company granted

450,084

stock options at an average exercise price of

$5.14

per share.

212,464

of the options were granted to the Company's officers and employees and vest

1/3

after

one

year,

1/3

after

two

years and

1/3

after

three

years, and have a

ten

-year life;

62,620

stock options granted to the Company's Board of Directors vest

50%

immediately and

50%

after

one

year and have a

five

-year life;

75,000

stock options granted to a consultant vest monthly over

months and have a

-year life; and

100,000

stock options granted to a consultant vest monthly over

months and have a

-year life.

Year ended

March 31, 2020

During the year ended

March 31, 2020

the Company granted

1,030,000

stock options exercisable at

$1.30

per share. Of these options,

300,000

vest

50%

upon issuance and

50%

after

one

year and have a

five

-year life.

730,000

options vest

50%

after

one

year,

25%

after

years and

25%

after

years and have a

ten

-year life.

200,000

options were also issued, exercisable at

$1.38

per share.

50,000

of the options granted vest

50%

after

one

year,

25%

after

two

years and

25%

after

three

years,

150,000

of the options vest

50%

September 1, 2019

and

50%

December 1, 2019

and have a

ten

-year life.

Stock option transactions for the years ended

March 31, 2021

are set forth below:

	Number of options			Weighted average exercise price
Balance outstanding at March 31, 2018		2,175,000		$	2.11
Forfeited		(275,000	)		2.40
Granted		1,375,000		$	1.00
Balance outstanding at March 31, 2019		3,275,000		$	1.67
Granted		1,230,000		$	1.38
Forfeited		(375,000	)		1.09
Balance outstanding at March 31, 2020		4,130,000			1.56
Granted		450,084			5.14
Exercised		(240,710	)		1.29
Forfeited		(184,290	)		1.67
Balance outstanding at March 31, 2021		4,155,084		$	1.96

The following table summarizes information about stock options outstanding at

March 31, 2021:

			Options Outstanding						Options Exercisable
Exercise Prices			Options		Weighted average remaining contractual life		Weighted average exercise price		Options		Weighted average exercise price
	$				Years		$				$
1.00	-	1.99		2,055,000		7.49		1.17		1,477,500		1.15
2.00	-	2.99		1,650,000		5,95		2.08		1,650,000		2.08
3.00	-	5.19		450,084		2.71		5.14		31,310		5.11
				4,155,084		6.36		1.96		3,158,810		1.69

The following assumptions were used in the Black-Scholes option-pricing model to determine the fair value of stock options granted during the year:

	March 31, 2021			March 31, 2020

Exercise price	$5.11	-	$5.19	$1.30	-	$1.38
Grant date share price	$5.11	-	$5.19	$1.30	-	$1.38
Risk free interest rate		1.0%			1.5%
Expected life of options (years)		5		2.5	-	5
Expected volatility		103%		100	-	114%
Expected dividend yield		-			-
Forfeiture rate
Weighted average fair value of options granted during the period		$4.01			$0.94

Note 12 - Government Assistance

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of government grants [text block]

12.	Government assistance

CPRIT assistance

February 2015,

the Company received notice that it had been awarded a grant by the Cancer Prevention Research Institute of Texas (“CPRIT”) whereby the Company is eligible to receive up to

US$14.1

million on eligible expenditures over a

three

-year period related to the development of the Company's phase

clinical program for

MDNA55.

October 2017,

the Company was granted a

one

-year extension to the grant allowing expenses to be claimed over a

four

-year period ending

February 28, 2019.

February 4, 2019,

the Company was approved for a further

six

-month extension ending

August 31, 2019;

July 25, 2019,

an additional

six

-month extension was granted to

February 28, 2020

and on

January 6, 2020,

an additional

six

-month extension was granted to

August 28, 2020

and as of

March 31, 2021

the grant with CPRIT is substantially complete.

Of the

US$14.1

million grant approved by CPRIT, Medicenna has received

US$12.7

million from CPRIT as at

March 31, 2021.

The Company is eligible to receive the remaining

US$1.4

million upon the achievement of certain criteria as determined by CPRIT, from time to time. There can be

assurances that the balance of such grants will be received from CPRIT.

Ongoing program funding from CPRIT is subject to a number of conditions including the satisfactory achievement of milestones that must be met to release additional CPRIT funding, proof the Company has raised

50%

matching funds and maintaining substantial functions of the Company related to the project grant in Texas as well as using Texas-based subcontractors and collaborators wherever possible. There can be

assurances that the Company will continue to meet the necessary CPRIT criteria, satisfactorily achieve milestones, or that CPRIT will continue to advance additional funds to the Company.

If the Company is found to have used any grant proceeds for purposes other than intended, is in violation of the terms of the grant, or relocates its

MDNA55

related operations outside of the state of Texas, then the Company is required to repay any grant proceeds received.

Under the terms of the grant, the Company is also required to pay a royalty to CPRIT, comprised of

of revenues on net sales of

MDNA55

until aggregate royalty payments equal

400%

of the grant funds received at which time the ongoing royalty will be

0.5%.

At this time the royalty is

not

probable and therefore

liability has been recorded.

During the year ended

March 31, 2021,

the Company did

not

receive any funds from CPRIT (

2020

$3.5

million).

Note 13 - Commitments

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of commitments [text block]

13.

Commitments

Intellectual property

August 21, 2015,

the Company exercised its right to enter into

two

license agreements (the “Stanford License Agreements”) with the Board of Trustees of the Leland Stanford Junior University (“Stanford”). In connection with this licensing agreement, the Company issued

649,999

common shares with a value of

$0.1

million to Stanford and affiliated inventors. The value of these shares has been recorded as an intangible asset that is being amortized over the life of the underlying patents. As at

March 31, 2021,

the Company's intangible assets have a remaining capitalized net book value of

$71

thousand (

March 31, 2020 -

$76

thousand).

The development milestones under the Stanford License Agreements were updated during the year ended

March 31, 2020

to reflect the current stage of development of the Company's programs.

The Company has entered into various license agreements with respect to accessing patented technology. In order to maintain these agreements, the Company is obligated to pay certain costs based on timing or certain milestones within the agreements, the timing of which is uncertain. These costs include ongoing license fees, patent prosecution and maintenance costs, royalty and other milestone payments. As at

March 31, 2021,

the Company is obligated to pay the following:

•

Patent licensing costs due within

months totaling

$165

thousand.

•

Patent licensing costs, including the above, due within the next

five

years totaling

$1.6

million.

•

Given the current development plans and expected timelines of the Company it is assumed that project milestones of

US$0.3

million will be due in the next

five

years.

•

Project milestone payments, assuming continued success in the development programs, of uncertain timing totaling

US$2.0

million and an additional

US$2.0

million in sales milestones.

•

A liquidity payment of

$0.3

million is due to the National Institute of Health (“NIH”), which represents the remaining payments resulting from the Company's liquidity event in

March 2017.

Contractual obligations	Less than 1 year		1-3 years		3-5 years		Total
	$		$		$		$
Patent licensing costs		165		826		584		1,575
Lease payments		35		-		-		35
Liquidity event payment		328		-		-		328

As at

March 31, 2021,

the Company had obligations to make future payments, representing significant research and development and manufacturing contracts and other commitments that are known and committed in the amount of approximately

$9.3

million, of which

million has been paid or accrued as at

March 31, 2021.

Most of these agreements are cancellable by the Company with notice. These commitments include agreements for manufacturing and preclinical studies.

Note 14 - Related Party Disclosures

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of related party [text block]

14.

Related party disclosures

(a)

Key management personnel

Key management personnel, which consists of the Company's officers (President and Chief Executive Officer, Chief Financial Officer, and Chief Development Officer) and directors, earned the following compensation for the following years:

	2021		2020
	$		$
Salaries and wages		1,501		892
Board fees		230		142
Stock option expense		797		873
		2,528		1,907

(b)

Amounts payable to related parties

As at

March 31, 2021,

the Company had trade and other payables in the normal course of business, owing to directors and officers of

$0.2

million, (

2020

$0.2

million) related to board fees and accrued vacation.

Note 15 - Income Taxes

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of income tax [text block]

15.

Income taxes

a) Provision for Income Tax

A reconciliation of income taxes at statutory rates with the reported taxes is as follows:

	2021			2020
	$			$
Loss before income taxes		(17,289	)		(8,277	)
Tax rate		27.0	%		27.0	%
Expected tax recovery		(4,668	)		(2,235	)

Change in statutory rates and foreign exchange rates		(288	)		35
Permanent differences		272			309
Share issuance costs		(153	)		(993	)
Change in unrecognized deductible temporary difference		4,837			2,884
Total income tax expense (recovery)		-			-

15.

Income taxes cont'd

b) Deferred Income Tax

The significant components of the Company's deferred tax assets that have

not

been included on the consolidated statement of financial position are as follows:

	2021			2020
		$			$
Non-capital losses carry-forward		10,971			6,287
Property and equipment		50			50
Share issuance costs		1,093			940
		12,114			7,277
Unrecognized deferred tax asset		(12,114	)		(7,277	)
Net deferred tax assets		-			-

The significant components of the Company's temporary differences, unused tax credits and unused tax losses that have

not

been included in the consolidated statements of financial position are as follows:

Type	Amount		Expiry
Non-capital losses carry-forward	$	41,422,000	2035	-	2041
Property and equipment		186,000		N/A
Share issuance costs		4,047,000	2039	-	2042

Note 16 - Components of Expenses

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of expenses [text block]

16.	Components of Expenses

	2021		2020
		$		$
General and Administration Expenses
Depreciation expense		40		8
Stock based compensation		614		639
Facilities and operations		304		253
Public company expenses		4,677		1,004
Salaries and benefits		890		596
CPRIT grant claimed in eligible expenses (Note 12)		-		(125	)
		6,525		2,375

16.

Components of Expenses cont'd

	2021		2020
	$		$
Research and Development Expenses
Chemistry, manufacturing, and controls		2,356		343
Regulatory		801		433
Discovery and pre-clinical		2,896		1,899
Clinical		1,225		1,528
Salaries and benefits		1,413		1,095
Licensing, patent, legal fees and royalties		1,620		811
Stock based compensation		391		486
CPRIT grant claimed in eligible expenses (Note 12)		-		(951	)
Other research and development expenses		168		226
		10,870		5,870

Significant Accounting Policies (Policies)

12 Months Ended

Mar. 31, 2021

Discloure of Significant Accounting Policies

Description of accounting policy for basis of measurement and statement of compliance [text block]

Statement of compliance

The Consolidated financial statements were approved by the Company's Board of Directors and authorized for issue on

May 27, 2021.

Description of accounting policy for subsidiaries [text block]

b)	Principles of Consolidation

Description of accounting policy for functional currency [text block]

c)	Functional and presentation currency

Description of accounting policy for restricted cash and cash equivalents [text block]

d)	Cash and cash equivalents and marketable securities

Cash and cash equivalents

Cash equivalents include guaranteed investment certificates (

March 31, 2021 -

nil,

March 31, 2020 -

$20.0

million) with a maturity of

days or less and are readily redeemable for cash. The Company has classified its cash and cash equivalents at fair value through profit or loss.

Marketable securities

Marketable securities consist of guaranteed investment certificates with a maturity of greater than

days and less than

one

year. The Company has classified its marketable securities at fair value through profit or loss.

Description of accounting policy for research and development expense [text block]

e)	Research and development costs

Capitalized development expenditures will be measured at cost less accumulated amortization and accumulated impairment losses.

development costs have been capitalized to date.

Description of accounting policy for government grants [text block]

Government assistance

Research grants that compensate the Company for expenses incurred are recognized in profit, or loss in reduction thereof on a systematic basis in the same years in which the expenses are recognized.

Grants that compensate the Company for the cost of an asset are recognized in profit or loss on a systematic basis over the useful life of the asset.

Description of accounting policy for intangible assets other than goodwill [text block]

g)	Intangible assets

not

hold any intangible asset with an indefinite life.

Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset

may

Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets from the date they are available for use to

August 31, 2035.

Description of accounting policy for income tax [text block]

h)	Income taxes

not

a business combination and at the time of the transaction affects neither accounting nor taxable profit or loss.

Description of accounting policy for earnings per share [text block]

i)	Basic and diluted loss per common share

not

been included in this calculation as it would be anti-dilutive.

Description of accounting policy for property, plant and equipment [text block]

Equipment

The Company's fixed assets comprise of computer equipment for use in general and administrative and research activities.

Depreciation is recognized using the straight-line method based on an expected life of the assets


Computer equipment	2 years
Right-of-use-assets	Over the lease term

Impairment of long-lived assets:

one

cash-generating unit. The recoverable amount is the greater of the asset's fair value less cost to sell and value in use.

Description of accounting policy for share-based payment transactions [text block]

k)	Stock-based compensation

not

greater than

Description of accounting policy for issued capital [text block]

Share Capital

Common shares are classified as equity. Incremental costs directly attributable to the issue of common shares are recognized as a reduction of equity.

one

another. The Company measures the fair value of the warrant component of the unit using the Black-Scholes option pricing model. The unit value is then allocated, pro-rata, between the

two

components, with the fair value attributed to the warrants being recorded to contributed surplus.

Description of accounting policy for financial instruments [text block]

Financial Instruments

The Company has implemented the following classifications:

Cash, cash equivalents and marketable securities are classified at fair value through profit or loss.

Accounts payable and accrued liabilities are classified as other amortized cost. After their initial fair value measurement, they are measured at amortized cost using the effective interest method.

Description of accounting policy for impairment of financial assets [text block]

Impairment of financial assets

The Company applies the simplified method of the expected credit loss model required under IFRS

Under this method, the Company estimates a lifetime expected loss allowance for all receivables. Receivables are written off when there is

reasonable expectation of recovery.

Description of accounting policy for employee benefits [text block]

Employee benefits

Description of accounting policy for provisions [text block]

Provisions

Note 6 - Financial Risk Management (Tables)

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Summary quantitative data about entity's exposure to risk [text block]

	March 31, 2021			March 31, 2020
	$			$
Cash and cash equivalents		9,593			135
Accounts payable and accrued liabilities		(2,147	)		(900	)
		7,446			(765	)

Note 7 - Right-of-use Asset and Lease Liability (Tables)

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of quantitative information about right-of-use assets and lease liabilities [text block]

	Right-of-Use Asset			Lease Liability
	$			$
Balance, March 31, 2020		68			67
Depreciation		(36	)		-
Lease payments		-			(39	)
Lease interest		-			6
Balance, March 31, 2021		32			34

Classification:
Current portion of lease liability		-			34
Long-term portion of lease liability		-			-
		-			34

Note 8 - Accounts Payable and Accrued Liabilities (Tables)

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Accounts payable and accrued liabilities [text block]

	March 31, 2021		March 31, 2020
	$		$
Trade payables		2,245		456
Accrued liabilities		1,828		1,324
		4,073		1,780

Note 9 - Share Capital (Tables)

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Earnings per share [text block]

	2021		2020
Common shares issued and outstanding, beginning of year		46,799,828		28,578,137
Shares issued in March/April 2020 financing		1,623,950		431,870
Shares issued in October 2019 financing		-		2,407,314
ATM issuances		182,226		-
Effect of warrants and options exercised		1,055,772		482,319
Weighted average common shares issued and outstanding, end of year		49,661,776		31,899,640
Common shares issued and outstanding, end of year		53,547,709		46,799,828

Note 10 - Warrants (Tables)

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Changes in warrants [text block]

	Number of Warrants			Weighted average exercise price
Balance outstanding at March 31, 2019		5,145,083		$	1.65
Common share purchase warrants issued in the October 2019 financing		2,653,846			1.75
Broker warrants issued in the financing October 2019 financing		350,134			1.30
Broker warrants issued in the March 2020 financing		790,323			3.10
Warrants exercised during the year		(1,623,675	)		1.46
Warrants outstanding at March 31, 2020		7,315,711		$	1.86
Broker warrants issued in overallotment		118,548			3.10
Warrants exercised during the year		(3,415,266	)		1.96
Warrants outstanding at March 31, 2021		4,018,993			1.82

Warrants exercised [text block]

Number of Warrants		Exercise Price		Proceeds		Expiry Date
		$		$
	57,500		1.20		69,000	December 21, 2020
	115,000		1.20		138,000	December 21, 2023
	139,759		1.30		181,687	October 17, 2021
	152,214		1.75		266,375	October 17, 2022
	2,812,083		2.00		5,624,166	January 1, 2021
	138,710		3.10		430,001	March 17, 2022
	3,415,266				6,709,229

Warrants outstanding and exercisable [text block]

Number of Warrants		Exercise Price		Expiry Date
			$
	18,000		2.00	April 5, 2021
	71,744		1.30	October 17, 2021
	770,161		3.10	March 17, 2022
	1,806,088		1.75	October 17, 2022
	1,353,000		1.20	December 21, 2023
	4,018,993

Note 11 - Stock Options (Tables)

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of number and weighted average exercise prices of share options [text block]

	Number of options			Weighted average exercise price
Balance outstanding at March 31, 2018		2,175,000		$	2.11
Forfeited		(275,000	)		2.40
Granted		1,375,000		$	1.00
Balance outstanding at March 31, 2019		3,275,000		$	1.67
Granted		1,230,000		$	1.38
Forfeited		(375,000	)		1.09
Balance outstanding at March 31, 2020		4,130,000			1.56
Granted		450,084			5.14
Exercised		(240,710	)		1.29
Forfeited		(184,290	)		1.67
Balance outstanding at March 31, 2021		4,155,084		$	1.96

Disclosure of range of exercise prices of outstanding share options [text block]

			Options Outstanding						Options Exercisable
Exercise Prices			Options		Weighted average remaining contractual life		Weighted average exercise price		Options		Weighted average exercise price
	$				Years		$				$
1.00	-	1.99		2,055,000		7.49		1.17		1,477,500		1.15
2.00	-	2.99		1,650,000		5,95		2.08		1,650,000		2.08
3.00	-	5.19		450,084		2.71		5.14		31,310		5.11
				4,155,084		6.36		1.96		3,158,810		1.69

Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [text block]

	March 31, 2021			March 31, 2020

Exercise price	$5.11	-	$5.19	$1.30	-	$1.38
Grant date share price	$5.11	-	$5.19	$1.30	-	$1.38
Risk free interest rate		1.0%			1.5%
Expected life of options (years)		5		2.5	-	5
Expected volatility		103%		100	-	114%
Expected dividend yield		-			-
Forfeiture rate
Weighted average fair value of options granted during the period		$4.01			$0.94

Note 13 - Commitments (Tables)

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of maturity analysis of contractual obligations [text block]

Contractual obligations	Less than 1 year		1-3 years		3-5 years		Total
	$		$		$		$
Patent licensing costs		165		826		584		1,575
Lease payments		35		-		-		35
Liquidity event payment		328		-		-		328

Note 14 - Related Party Disclosures (Tables)

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of transactions between related parties [text block]

	2021		2020
	$		$
Salaries and wages		1,501		892
Board fees		230		142
Stock option expense		797		873
		2,528		1,907

Note 15 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of Reconciliation of Income Taxes [text block]

	2021			2020
	$			$
Loss before income taxes		(17,289	)		(8,277	)
Tax rate		27.0	%		27.0	%
Expected tax recovery		(4,668	)		(2,235	)

Change in statutory rates and foreign exchange rates		(288	)		35
Permanent differences		272			309
Share issuance costs		(153	)		(993	)
Change in unrecognized deductible temporary difference		4,837			2,884
Total income tax expense (recovery)		-			-

Disclosure of deferred taxes [text block]

	2021			2020
		$			$
Non-capital losses carry-forward		10,971			6,287
Property and equipment		50			50
Share issuance costs		1,093			940
		12,114			7,277
Unrecognized deferred tax asset		(12,114	)		(7,277	)
Net deferred tax assets		-			-

Disclosure of temporary difference, unused tax losses and unused tax credits [text block]

Type	Amount		Expiry
Non-capital losses carry-forward	$	41,422,000	2035	-	2041
Property and equipment		186,000		N/A
Share issuance costs		4,047,000	2039	-	2042

Note 16 - Components of Expenses (Tables)

12 Months Ended

Mar. 31, 2021

Statement Line Items [Line Items]

Disclosure of general and administrative expense [text block]

	2021		2020
		$		$
General and Administration Expenses
Depreciation expense		40		8
Stock based compensation		614		639
Facilities and operations		304		253
Public company expenses		4,677		1,004
Salaries and benefits		890		596
CPRIT grant claimed in eligible expenses (Note 12)		-		(125	)
		6,525		2,375

Disclosure of research and development expense [text block]

	2021		2020
	$		$
Research and Development Expenses
Chemistry, manufacturing, and controls		2,356		343
Regulatory		801		433
Discovery and pre-clinical		2,896		1,899
Clinical		1,225		1,528
Salaries and benefits		1,413		1,095
Licensing, patent, legal fees and royalties		1,620		811
Stock based compensation		391		486
CPRIT grant claimed in eligible expenses (Note 12)		-		(951	)
Other research and development expenses		168		226
		10,870		5,870

Note 2 - Basis of Presentation and Significant Accounting Policies (Details Textual) $ in Thousands	12 Months Ended
	Mar. 31, 2021 CAD ($)	Mar. 31, 2020 CAD ($)
Statement Line Items [Line Items]
Short-term investments, classified as cash equivalents	$ 0	$ 20,000
Total intangible assets other than goodwill	71	$ 76
Intangible assets with indefinite useful life	$ 0
Number of cash-generating units	1
Option life, share options granted	5
Top of range [member]
Statement Line Items [Line Items]
Option life, share options granted	10	5
Computer equipment [member]
Statement Line Items [Line Items]
Useful life measured as period of time, property, plant and equipment (Year)	2 years
Capitalised development expenditure [member]
Statement Line Items [Line Items]
Total intangible assets other than goodwill	$ 0

Note 6 - Financial Risk Management (Details Textual) - CAD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Line Items [Line Items]
Increase (decrease) in net income (loss) from 10 percent change in foreign currency	$ 938	$ 108

Note 6 - Financial Risk Management - Balances in US Dollars (Details) $ in Thousands, $ in Thousands	Mar. 31, 2021 CAD ($)	Mar. 31, 2021 USD ($)	Mar. 31, 2020 CAD ($)	Mar. 31, 2020 USD ($)	Mar. 31, 2019 CAD ($)
Statement Line Items [Line Items]
Cash and cash equivalents (Note 2d)	$ 30,375		$ 22,698		$ 2,371
Accounts payable and accrued liabilities	$ (4,073)		$ (1,780)
Currency risk [member]
Statement Line Items [Line Items]
Cash and cash equivalents (Note 2d)		$ 9,593		$ 135
Accounts payable and accrued liabilities		(2,147)		(900)
Risk exposure associated with instruments sharing characteristic		$ 7,446		$ (765)

Note 7 - Right-of-use Asset and Lease Liability - Carrying Amounts and Movements of Right-of-use Asset and Lease Liability (Details) - CAD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Statement Line Items [Line Items]
Balance, right of use asset	$ 68
Balance, liability	67
Depreciation	(36)
Repayment of lease liabilities	(39)	$ (3)
Lease interest	6
Balance, right of use asset	32	68
Balance, liability	34	67
Current portion of lease liability (Note 7)			$ 34	$ 35
Lease liability (Note 7)				32
Total lease liabilities	$ 34	$ 67	$ 34	$ 67

Note 8 - Accounts Payable and Accrued Liabilities - Accounts Payable and Accrued Liabilities (Details) - CAD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Statement Line Items [Line Items]
Trade payables	$ 2,245	$ 456
Accrued liabilities	1,828	1,324
Total trade and other current payables	$ 4,073	$ 1,780

Note 9 - Share Capital (Details Textual) $ / shares in Units, $ in Thousands, $ in Millions			3 Months Ended	12 Months Ended
	Apr. 15, 2020 CAD ($) $ / shares shares	Mar. 17, 2020 CAD ($) $ / shares shares	Mar. 31, 2021 CAD ($) shares	Mar. 31, 2021 CAD ($)	Mar. 31, 2020 CAD ($)	Dec. 30, 2020 USD ($)
Statement Line Items [Line Items]
Proceeds from issuing shares		$ 35,000		$ 11,411	$ 38,375
Increase (decrease) in number of shares outstanding through issued financing (in shares) \| shares		11,290,323
Price per shares issued (in CAD per share) \| $ / shares		$ 3.10
Issuance of shares, overallotment option, percentage		15.00%
Payments for commissions		$ 2,500
Payments for share issue costs		$ 500
Over-allotment shares option issued in connection with March 2020 public offering [member]
Statement Line Items [Line Items]
Proceeds from issuing shares	$ 5,300
Increase (decrease) in number of shares outstanding through issued financing (in shares) \| shares	1,693,548
Price per shares issued (in CAD per share) \| $ / shares	$ 3.10
Payments for commissions	$ 368
Payments for share issue costs	$ 32
Shares issued in connection with ATM Offering [member]
Statement Line Items [Line Items]
Proceeds from issuing shares			$ 7,100
Increase (decrease) in number of shares outstanding through issued financing (in shares) \| shares			1,398,357
Shares to be issued, maximum aggregate offering price						$ 25
Share issue related cost			$ 500
Agents [member]
Statement Line Items [Line Items]
Number of warrants issued (in shares) \| shares		790,323
Number of shares issued upon exercise of each warrant (in shares) \| shares		1
Exercise price of warrants (in CAD per share) \| $ / shares		$ 3.10
Period of warrants (Month)		2 years
Agents [member] \| Warrants issued in overallotment [member]
Statement Line Items [Line Items]
Number of warrants issued (in shares) \| shares	118,723
Number of shares issued upon exercise of each warrant (in shares) \| shares	1
Exercise price of warrants (in CAD per share) \| $ / shares	$ 3.10
Agents [member] \| Warrants [member]
Statement Line Items [Line Items]
Financial liabilities, at fair value		$ 500
Agents [member] \| Warrants [member] \| Warrants issued in overallotment [member]
Statement Line Items [Line Items]
Financial liabilities, at fair value	$ 69

Note 9 - Share Capital - Calculation of Loss Per Share (Details) - shares		12 Months Ended
	Mar. 17, 2020	Mar. 31, 2021	Mar. 31, 2020
Statement Line Items [Line Items]
Common shares issued and outstanding, beginning of year (in shares)		46,799,828	28,578,137
Increase (decrease) in number of shares outstanding through issued financing (in shares)	11,290,323
Effect of warrants and options exercised (in shares)		1,055,772	482,319
Weighted average common shares issued and outstanding, end of year (in shares)		49,661,776	31,899,640
Common shares issued and outstanding, end of year (in shares)		53,547,709	46,799,828
Shares Issued in Short-form Prospectus Offering in December 2018 [Member]
Statement Line Items [Line Items]
Increase (decrease) in number of shares outstanding through issued financing (in shares)		1,623,950	431,870
Shares issued in public offering in October 2019 [member]
Statement Line Items [Line Items]
Increase (decrease) in number of shares outstanding through issued financing (in shares)			2,407,314
Shares issued in connection with ATM Offering [member]
Statement Line Items [Line Items]
Increase (decrease) in number of shares outstanding through issued financing (in shares)		182,226

Note 10 - Warrants - Warrant Continuity (Details) - $ / shares	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Line Items [Line Items]
Balance outstanding (in shares)	7,315,711	5,145,083
Balance outstanding, weighted average exercise price (in CAD per share)	$ 1.86	$ 1.65
Warrants exercised during the year (in shares)	(3,415,266)	(1,623,675)
Warrants exercised during the year, weighted average exercise price (in CAD per share)	$ 1.96	$ 1.46
Warrants outstanding (in shares)	4,018,993	7,315,711
Balance outstanding, weighted average exercise price (in CAD per share)	$ 1.82	$ 1.86
Warrants issued in October 2019 financing [member]
Statement Line Items [Line Items]
Common share purchase warrants issued (in shares)		2,653,846
Common share purchase warrants issued, weighted average exercise price (in CAD per share)		$ 1.75
Broker warrants issued (in shares)		350,134
Broker warrants issued, weighted average exercise price (in CAD per share)		$ 1.30
Warrants issued in March 2020 financing [member]
Statement Line Items [Line Items]
Broker warrants issued (in shares)		790,323
Broker warrants issued, weighted average exercise price (in CAD per share)		$ 3.10
Warrants issued in overallotment [member]
Statement Line Items [Line Items]
Broker warrants issued (in shares)	118,548
Broker warrants issued, weighted average exercise price (in CAD per share)	$ 3.10

Note 10 - Warrants - Warrants Exercised (Details) - CAD ($)	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Line Items [Line Items]
Number of warrants (in shares)	3,415,266	1,623,675
Warrants exercised during the year, weighted average exercise price (in CAD per share)	$ 1.96	$ 1.46
Proceeds	$ 6,709,229
Warrants with expiration date of December 21, 2020 [member]
Statement Line Items [Line Items]
Number of warrants (in shares)	57,500
Warrants exercised during the year, weighted average exercise price (in CAD per share)	$ 1.20
Proceeds	$ 69,000
Warrants with expiration date of December 21, 2023 [member]
Statement Line Items [Line Items]
Number of warrants (in shares)	115,000
Warrants exercised during the year, weighted average exercise price (in CAD per share)	$ 1.20
Proceeds	$ 138,000
Warrants with an expiration date of October 17, 2021 [member]
Statement Line Items [Line Items]
Number of warrants (in shares)	139,759
Warrants exercised during the year, weighted average exercise price (in CAD per share)	$ 1.30
Proceeds	$ 181,687
Warrants with an expiration date of October 17, 2022 [member]
Statement Line Items [Line Items]
Number of warrants (in shares)	152,214
Warrants exercised during the year, weighted average exercise price (in CAD per share)	$ 1.75
Proceeds	$ 266,375
Warrants with an expiration date of January 1, 2021 [member]
Statement Line Items [Line Items]
Number of warrants (in shares)	2,812,083
Warrants exercised during the year, weighted average exercise price (in CAD per share)	$ 2
Proceeds	$ 5,624,166
Warrants with an expiration date of March 17, 2022 [member]
Statement Line Items [Line Items]
Number of warrants (in shares)	138,710
Warrants exercised during the year, weighted average exercise price (in CAD per share)	$ 3.10
Proceeds	$ 430,001

Note 10 - Warrants - Warrants Outstanding and Exercisable (Details) - $ / shares	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Statement Line Items [Line Items]
Number of warrants (in shares)	4,018,993	7,315,711	5,145,083
Warrants with an expiration date of April 5, 2021 [member]
Statement Line Items [Line Items]
Number of warrants (in shares)	18,000
Exercise price (in CAD per share)	$ 2
Warrants with an expiration date of October 17, 2021 [member]
Statement Line Items [Line Items]
Number of warrants (in shares)	71,744
Exercise price (in CAD per share)	$ 1.30
Warrants with an expiration date of March 17, 2022 [member]
Statement Line Items [Line Items]
Number of warrants (in shares)	770,161
Exercise price (in CAD per share)	$ 3.10
Warrants with an expiration date of October 17, 2022 [member]
Statement Line Items [Line Items]
Number of warrants (in shares)	1,806,088
Exercise price (in CAD per share)	$ 1.75
Warrants with an expiration date of December 21, 2023 [member]
Statement Line Items [Line Items]
Number of warrants (in shares)	1,353,000
Exercise price (in CAD per share)	$ 1.20

Note 11 - Stock Options (Details Textual)	12 Months Ended
Note 11 - Stock Options (Details Textual)	Mar. 31, 2021 $ / shares	Mar. 31, 2020 $ / shares	Mar. 31, 2019 $ / shares
Statement Line Items [Line Items]
Number of share options granted in share-based payment arrangement	450,084	1,230,000	1,375,000
Weighted average exercise price of share options granted in share-based payment arrangement (in CAD per share)	$ 5.14	$ 1.38	$ 1
Option life, share options granted	5
Options with an average exercise price of $5.14 per share [member]
Statement Line Items [Line Items]
Number of share options granted in share-based payment arrangement	450,084
Weighted average exercise price of share options granted in share-based payment arrangement (in CAD per share)	$ 5.14
Options with an average exercise price of $5.14 per share [member] \| Officers and employees [member]
Statement Line Items [Line Items]
Number of share options granted in share-based payment arrangement	212,464
Option life, share options granted	10
Options with an average exercise price of $5.14 per share [member] \| Board of Directors [member]
Statement Line Items [Line Items]
Number of share options granted in share-based payment arrangement	62,620
Option life, share options granted	5
Options with an average exercise price of $5.14 per share [member] \| Consultant one [member]
Statement Line Items [Line Items]
Number of share options granted in share-based payment arrangement	75,000
Option life, share options granted	10
Share options granted in share-based payment arrangement, vesting period, months	48
Options with an average exercise price of $5.14 per share [member] \| Consultant two [member]
Statement Line Items [Line Items]
Number of share options granted in share-based payment arrangement	100,000
Option life, share options granted	5
Share options granted in share-based payment arrangement, vesting period, months	16
Options with an average exercise price of $5.14 per share, portion vesting after one year [member] \| Officers and employees [member]
Statement Line Items [Line Items]
Percentage of options to vest	33.33%
Options with an average exercise price of $5.14 per share, portion vesting after one year [member] \| Board of Directors [member]
Statement Line Items [Line Items]
Percentage of options to vest	50.00%
Options with an average exercise price of $5.14 per share, portion vesting after two years [member] \| Officers and employees [member]
Statement Line Items [Line Items]
Percentage of options to vest	33.33%
Options with an average exercise price of $5.14 per share, portion vesting after three years [member] \| Officers and employees [member]
Statement Line Items [Line Items]
Percentage of options to vest	33.33%
Options with an average exercise price of $5.14 per share, portion vesting immediately [member] \| Board of Directors [member]
Statement Line Items [Line Items]
Percentage of options to vest	50.00%
Options with exercise price of 1.30 [member]
Statement Line Items [Line Items]
Number of share options granted in share-based payment arrangement		1,030,000
Weighted average exercise price of share options granted in share-based payment arrangement (in CAD per share)		$ 1.30
First set of options with exercise price of 1.30 [member]
Statement Line Items [Line Items]
Number of share options granted in share-based payment arrangement		300,000
Option life, share options granted		5
First set of options with exercise price of 1.30, vesting immediately [member]
Statement Line Items [Line Items]
Percentage of options to vest		50.00%
First set of options with exercise price of 1.30, vesting in year one [member]
Statement Line Items [Line Items]
Percentage of options to vest		50.00%
Vesting period, options (Year)		1 year
Second set of options with exercise price of 1.30 [member]
Statement Line Items [Line Items]
Number of share options granted in share-based payment arrangement		730,000
Option life, share options granted		10
Second set of options with exercise price 1.30, vesting in year one [member]
Statement Line Items [Line Items]
Percentage of options to vest		50.00%
Vesting period, options (Year)		1 year
Second set of options with exercise price of 1.30, vesting in year two [member]
Statement Line Items [Line Items]
Percentage of options to vest		25.00%
Vesting period, options (Year)		2 years
Second set of options with exercise price of 1.30, vesting in year three [member]
Statement Line Items [Line Items]
Percentage of options to vest		25.00%
Vesting period, options (Year)		3 years
Options with an exercise price of 1.00 [member]
Statement Line Items [Line Items]
Number of share options granted in share-based payment arrangement		200,000
Weighted average exercise price of share options granted in share-based payment arrangement (in CAD per share)		$ 1.38
First set of options with exercise price of 1.00 [member]
Statement Line Items [Line Items]
Number of share options granted in share-based payment arrangement		50,000
First set of options with exercise price of 1.00, vesting year one [member]
Statement Line Items [Line Items]
Percentage of options to vest		50.00%
Vesting period, options (Year)		1 year
First set of options with exercise price and 1.00, vesting year two [member]
Statement Line Items [Line Items]
Percentage of options to vest		25.00%
Vesting period, options (Year)		2 years
First set of options with exercise price of 1.00, vesting year three [member]
Statement Line Items [Line Items]
Percentage of options to vest		25.00%
Vesting period, options (Year)		3 years
Second set of options with exercise price of 1.00 [member]
Statement Line Items [Line Items]
Number of share options granted in share-based payment arrangement		150,000
Option life, share options granted		10
Second set of options with exercise price of 1.00, vesting September 1, 2019 [member]
Statement Line Items [Line Items]
Percentage of options to vest		50.00%
Second set of options with exercise price of 1.00, vesting December 1, 2019 [member]
Statement Line Items [Line Items]
Percentage of options to vest		50.00%

Note 11 - Stock Options - Stock Option Transactions (Details)	12 Months Ended
	Mar. 31, 2021 $ / shares	Mar. 31, 2020 $ / shares	Mar. 31, 2019 $ / shares
Statement Line Items [Line Items]
Balance outstanding, number of options	4,130,000	3,275,000	2,175,000
Balance outstanding, weighted average exercise price (in CAD per share)	$ 1.56	$ 1.67	$ 2.11
Forfeited, number of options	(184,290)	(375,000)	(275,000)
Forfeited, weighted average exercise price (in CAD per share)	$ 1.67	$ 1.09	$ 2.40
Granted, number of options	450,084	1,230,000	1,375,000
Granted, weighted average exercise price (in CAD per share)	$ 5.14	$ 1.38	$ 1
Exercised, number of options	(240,710)
Exercised (in CAD per share)	$ 1.29
Balance outstanding, number of options	4,155,084	4,130,000	3,275,000
Balance outstanding, weighted average exercise price (in CAD per share)	$ 1.96	$ 1.56	$ 1.67

Note 11 - Stock Options - Summary of Information About Stock Options Outstanding (Details)	12 Months Ended
	Mar. 31, 2021 $ / shares	Mar. 31, 2020 $ / shares	Mar. 31, 2019 $ / shares	Mar. 31, 2018 $ / shares
Statement Line Items [Line Items]
Options outstanding	4,155,084	4,130,000	3,275,000	2,175,000
Options outstanding, weighted average remaining contractual life (Year)	6 years 131 days
Options outstanding, weighted average exercise price (in CAD per share)	$ 1.96	$ 1.56	$ 1.67	$ 2.11
Options exercisable	3,158,810
Options exercisable, weighed average exercise price (in CAD per share)	$ 1.69
Range one [member]
Statement Line Items [Line Items]
Options outstanding	2,055,000
Options outstanding, weighted average remaining contractual life (Year)	7 years 178 days
Options outstanding, weighted average exercise price (in CAD per share)	$ 1.17
Options exercisable	1,477,500
Options exercisable, weighed average exercise price (in CAD per share)	$ 1.15
Range two [member]
Statement Line Items [Line Items]
Options outstanding	1,650,000
Options outstanding, weighted average remaining contractual life (Year)	595 years
Options outstanding, weighted average exercise price (in CAD per share)	$ 2.08
Options exercisable	1,650,000
Options exercisable, weighed average exercise price (in CAD per share)	$ 2.08
Range three [member]
Statement Line Items [Line Items]
Options outstanding	450,084
Options outstanding, weighted average remaining contractual life (Year)	2 years 259 days
Options outstanding, weighted average exercise price (in CAD per share)	$ 5.14
Options exercisable	31,310
Options exercisable, weighed average exercise price (in CAD per share)	$ 5.11
Bottom of range [member] \| Range one [member]
Statement Line Items [Line Items]
Exercise prices (in CAD per share)	1
Bottom of range [member] \| Range two [member]
Statement Line Items [Line Items]
Exercise prices (in CAD per share)	2
Bottom of range [member] \| Range three [member]
Statement Line Items [Line Items]
Exercise prices (in CAD per share)	3
Top of range [member] \| Range one [member]
Statement Line Items [Line Items]
Exercise prices (in CAD per share)	1.99
Top of range [member] \| Range two [member]
Statement Line Items [Line Items]
Exercise prices (in CAD per share)	2.99
Top of range [member] \| Range three [member]
Statement Line Items [Line Items]
Exercise prices (in CAD per share)	$ 5.19

Note 11 - Stock Options - Assumptions Used to Determine Fair Value (Details) - $ / shares	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Line Items [Line Items]
Risk free interest rate	1.00%	1.50%
Expected life of options (years)	5
Expected volatility	103.00%
Expected dividend yield
Weighted average fair value of options granted during the period (in CAD per share)	$ 4.01	$ 0.94
Bottom of range [member]
Statement Line Items [Line Items]
Exercise price (in CAD per share)	5.11	1.30
Grant date share price (in CAD per share)	5.11	$ 1.30
Expected life of options (years)		2.5
Expected volatility		100.00%
Top of range [member]
Statement Line Items [Line Items]
Exercise price (in CAD per share)	5.19	$ 1.38
Grant date share price (in CAD per share)	$ 5.19	$ 1.38
Expected life of options (years)	10	5
Expected volatility		114.00%

Note 12 - Government Assistance (Details Textual) - Cancer Prevention Research Institute of Texas [member] $ in Thousands, $ in Millions				1 Months Ended		12 Months Ended
	Jul. 25, 2019	Feb. 04, 2019	Feb. 08, 2015	Oct. 31, 2017	Feb. 28, 2015 USD ($)	Mar. 31, 2021 CAD ($)	Mar. 31, 2020 CAD ($)	Mar. 31, 2021 USD ($)
Statement Line Items [Line Items]
Government grant, maximum receivable					$ 14.1
Government grant, period of eligibility (Year)				4 years	3 years
Government grant, extension period (Year)	180 days	180 days		1 year
Government grants								$ 12.7
Government grant, remaining receivable								$ 1.4
Government grant, percentage matching funds raised requirement					50.00%
Royalty, percentage of revenues on sales, after aggregate royalty payments equal 400 percent of grant fund			0.50%
Royalty-related liability						$ 0
Income from government grants						$ 0	$ 3,500
Bottom of range [member]
Statement Line Items [Line Items]
Royalty, percentage revenue of sales			3.00%
Top of range [member]
Statement Line Items [Line Items]
Royalty, percentage revenue of sales			5.00%

Note 13 - Commitments (Details Textual) $ in Thousands, $ in Millions	Aug. 21, 2015 CAD ($) shares	Mar. 31, 2021 CAD ($)	Mar. 31, 2021 USD ($)	Mar. 31, 2020 CAD ($)
Statement Line Items [Line Items]
Total intangible assets other than goodwill		$ 71		$ 76
Patent license costs to be paid		1,575
Liquidity event payable		328
Miscellaneous other provisions [member]
Statement Line Items [Line Items]
Total other provisions		9,300
Other provisions, cumulative amount that has been paid or accrued		2,000
Not later than one year [member]
Statement Line Items [Line Items]
Patent license costs to be paid		165
Liquidity event payable		328
Stanford [member]
Statement Line Items [Line Items]
Increase (decrease) in number of shares outstanding from licensing agreement (in shares) \| shares	649,999
Issue of equity	$ 100
License agreement, second project milestone			$ 2.0
License agreement, sales milestone			2.0
Stanford [member] \| Not later than one year [member]
Statement Line Items [Line Items]
Patent license costs to be paid		165
Stanford [member] \| Not later than five years [member]
Statement Line Items [Line Items]
Patent license costs to be paid		1,600
Licensing agreement, first project milestone			$ 0.3
National Institute of Health [member]
Statement Line Items [Line Items]
Liquidity event payable		$ 300

Note 13 - Commitments - Contractual Obligations (Details) $ in Thousands	Mar. 31, 2021 CAD ($)
Statement Line Items [Line Items]
Patent licensing costs	$ 1,575
Lease payments	35
Liquidity event payment	328
Not later than one year [member]
Statement Line Items [Line Items]
Patent licensing costs	165
Lease payments	35
Liquidity event payment	328
Later than one year and not later than three years [member]
Statement Line Items [Line Items]
Patent licensing costs	826
Lease payments
Liquidity event payment
Later than three years and not later than five years [member]
Statement Line Items [Line Items]
Patent licensing costs	584
Lease payments
Liquidity event payment

Note 14 - Related Party Disclosures (Details Textual) - CAD ($) $ in Millions	Mar. 31, 2021	Mar. 31, 2020
Directors and officers [member]
Statement Line Items [Line Items]
Amounts payable, related party transactions	$ 0.2	$ 0.2

Note 14 - Related Party Disclosures - Key Management Personnel Compensation (Details) - CAD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Line Items [Line Items]
Salaries and wages	$ 1,501	$ 892
Board fees	230	142
Stock option expense	797	873
Key management personnel compensation	$ 2,528	$ 1,907

Note 15 - Income Taxes - Reconciliation of Income Taxes at Statutory Rates with the Reported Taxes (Details) - CAD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Line Items [Line Items]
Loss before income taxes	$ (17,289)	$ (8,277)
Tax rate	27.00%	27.00%
Expected tax recovery	$ (4,668)	$ (2,235)
Change in statutory rates and foreign exchange rates	(288)	35
Permanent differences	272	309
Share issuance costs	(153)	(993)
Change in unrecognized deductible temporary difference	4,837	2,884
Total income tax expense (recovery)

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Note 15 - Income Taxes - Significant Components of Deferred Tax Assets (Details) - CAD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Statement Line Items [Line Items]
Deferred tax asset	$ 12,114	$ 7,277
Unrecognized deferred tax asset	(12,114)	(7,277)
Net deferred tax assets
Unused tax losses [member]
Statement Line Items [Line Items]
Deferred tax asset	10,971	6,287
Temporary differences, property, plant and equipment [member]
Statement Line Items [Line Items]
Deferred tax asset	50	50
Temporary differences, share issuance costs [member]
Statement Line Items [Line Items]
Deferred tax asset	$ 1,093	$ 940

Note 15 - Income Taxes - Significant Components of Temporary Differences, Unused Tax Credits, and Unused Tax Losses (Details)	Mar. 31, 2021 CAD ($)
Statement Line Items [Line Items]
Non-capital losses carry-forward	$ 41,422,000
Temporary differences, property, plant and equipment [member]
Statement Line Items [Line Items]
Temporary differences not recognized	186,000
Temporary differences, share issuance costs [member]
Statement Line Items [Line Items]
Temporary differences not recognized	$ 4,047,000

Note 16 - Components of Expenses - General and Administrative Expenses (Details) - CAD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Line Items [Line Items]
Depreciation expense	$ 40	$ 8
Stock based compensation	614	639
Facilities and operations	304	253
Public company expenses	4,677	1,004
Salaries and benefits	890	596
CPRIT grant claimed in eligible expenses (Note 12)		(125)
General and administrative expense	$ 6,525	$ 2,375

Note 16 - Components of Expenses - Research and Development Expenses (Details) - CAD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Line Items [Line Items]
Chemistry, manufacturing, and controls	$ 2,356	$ 343
Regulatory	801	433
Discovery and pre-clinical	2,896	1,899
Clinical	1,225	1,528
Salaries and benefits	1,413	1,095
Licensing, patent, legal fees and royalties	1,620	811
Stock based compensation	391	486
CPRIT grant claimed in eligible expenses (Note 12)		(951)
Other research and development expenses	168	226
Research and development expense	$ 10,870	$ 5,870