Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Prepaid expenses

Prepaid expenses
12 Months Ended
Dec. 31, 2021
Prepaid Expenses  
Prepaid expenses


6. Prepaid expenses


The Company’s prepaid expenses relate to the following:



December 31



December 31


      $       $  
Research and development     714,716       220,084  
Insurance     441,388        
Investor relations conferences and services     60,254       44,115  
Consulting     50,000        
Administrative services     4,198        
Prepaid expenses     1,270,556       264,199  


During 2018, the Company entered into an agreement with Cato Research Canada Inc. (“Cato”) to manage a planned clinical study. As part of this agreement, the Company made a payment of US$505,331 and has committed to utilize Cato for this clinical study, subject to certain conditions. During the year ended December 31, 2020, Cato agreed to apply $436,240 of the payments against the accounts payable balance owing to Cato and forgive interest on these balances of $36,234.