Quarterly report pursuant to Section 13 or 15(d)

Document And Entity Information

v3.3.1.900
Document And Entity Information - shares
6 Months Ended
Jun. 30, 2015
Aug. 13, 2015
Document Information [Line Items]    
Entity Registrant Name Bionik Laboratories Corp.  
Entity Central Index Key 0001508381  
Current Fiscal Year End Date --12-31  
Entity Filer Category Smaller Reporting Company  
Trading Symbol BNKL  
Entity Common Stock, Shares Outstanding   22,408,313
Exchangeable Shares   50,000,000
Document Type 10-Q  
Amendment Flag true  
Document Period End Date Jun. 30, 2015  
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2015  
Amendment Description As described in the Current Report on Form 8-K filed on March 11, 2016, the Registrant is filing this Amendment No. 1 on Form 10-Q/A (this “Form 10-Q/A” or "Amended Filing") to amend its Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, originally filed with the Securities and Exchange Commission (the “SEC”) on August 14, 2015 (the “Original Filing”), to restate its unaudited consolidated financial statements and related footnote disclosures for the six months ended June 30, 2015. This Form 10-Q/A also amends certain other Items in the Original Filing, as listed below. The Registrant re-evaluated its accounting for the common stock purchase warrants issued in the first quarter of 2015 as part of the Registrant’s 2015 private placement. During the year-end audit of the Registrant’s December 31, 2015 consolidated financial statements, it was determined that such warrants contained price protection provisions that allow for the reduction in the exercise price of the warrants in the event the Registrant subsequently issues common stock or options, rights, warrants or securities convertible or exchangeable for shares of common stock at a price lower than the exercise price of the warrants. The price protection provision results in the warrants being recorded as a warrant derivative liability. As such, (a) the consolidated financial statements in Item 1 have been restated to give effect to the liability treatment of the warrants issued and outstanding during the period reported and (b) the Management's Discussion and Analysis of Financial Condition and Results of Operations in Item 2 has been revised to reflect the changes to the consolidated financial statements in Item 1. The Registrant is also correcting certain typographical and other immaterial errors found in the Original Filing. Additionally, in connection with the Original Filing, our management evaluated our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, and concluded that our disclosure controls and procedures were ineffective as of June 30, 2015. Subsequently, the Registrant’s management has determined that the improper accounting of the warrants was a deficiency in its internal control over financial reporting. In accordance with applicable SEC rules, this Form 10-Q/A includes new certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, as amended, from the Registrant’s Chief Executive Officer and Chief Financial Officer dated as of the filing date of this Form 10-Q/A. Accordingly, the Registrant hereby amends Part II - Item 6 of the Original Filing to reflect the filing of the new certifications. Except for the items mentioned above, this Amendment No. 1 does not amend the Registrant's previously filed Form 10-Q, nor does it modify or update those disclosures affected by subsequent events or discoveries. It also does not affect information contained in the 10-Q which was not impacted by these restatements. This Amendment No. 1 should be read in conjunction with the Registrant's filings made with the Securities and Exchange Commission subsequent to the filing of the previously filed Form 10-Q filing, including any amendments to those filings.