Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.7.0.1
STOCK-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]
The following table summarizes amounts charged to expense for stock-based compensation related to employee and director stock option grants and recorded in connection with stock options granted to non-employee consultants:
 
 
 
Three Months Ended
 
 
 
March 31,
 
 
 
2017
 
2016
 
 
 
 
 
 
 
Employee and director stock option grants:
 
 
 
 
 
 
 
Research and development
 
$
16,648
 
$
11,035
 
General and administrative
 
 
149,026
 
 
92,249
 
 
 
 
165,674
 
 
103,284
 
 
 
 
 
 
 
 
 
Non-employee consultant stock option grants:
 
 
 
 
 
 
 
Research and development
 
 
—
 
 
(366)
 
 
 
 
—
 
 
(366)
 
 
 
 
 
 
 
 
 
Total stock-based compensation
 
$
165,674
 
$
102,918
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
A summary of stock option activity is as follows:
 
 
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
Number of
 
 
 
 
 
Average
 
 
 
 
 
 
Shares Issuable
 
 
 
 
 
Remaining
 
 
 
 
 
 
Upon Exercise
 
 
Weighted
 
 
Contracted
 
 
Aggregate
 
 
 
of Outstanding
 
 
Average
 
 
Term in
 
 
Intrinsic
 
 
 
Options
 
 
Exercise Price
 
 
Years
 
 
Value
 
Outstanding at December 31, 2016
 
 
471,433
 
 
$
7.59
 
 
 
 
 
 
 
 
 
Granted
 
 
37,300
 
 
$
2.18
 
 
 
 
 
 
 
 
 
Expired
 
 
—
 
 
$
—
 
 
 
 
 
 
 
 
 
Forfeited
 
 
—
 
 
$
—
 
 
 
 
 
 
 
 
 
Outstanding at March 31, 2017
 
 
508,733
 
 
$
7.19
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Vested, March 31, 2017
 
 
104,106
 
 
$
19.84
 
 
 
8.70
 
 
$
54,579
 
Unvested, March 31, 2017
 
 
404,627
 
 
$
3.94
 
 
 
9.17
 
 
$
167,134
 
Exercisable at March 31, 2017
 
 
104,106
 
 
$
19.84
 
 
 
8.70
 
 
$
54,579