Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.7.0.1
STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 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 grants and stock option grants and recorded in connection with stock options granted to non-employee consultants:
 
 
 
Three Months Ended
 
Six Months Ended
 
 
 
June 30,
 
June 30,
 
 
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Employee and director stock and stock option grants:
 
 
 
 
 
 
 
 
 
 
 
 
 
Research and development
 
$
40,072
 
$
13,335
 
$
56,720
 
$
24,370
 
General and administrative
 
 
191,014
 
 
106,606
 
 
340,040
 
 
198,855
 
 
 
 
231,086
 
 
119,941
 
 
396,760
 
 
223,225
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-employee consultant stock option grants:
 
 
 
 
 
 
 
 
 
 
 
 
 
Research and development
 
 
—
 
 
28
 
 
—
 
 
(338)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total stock-based compensation
 
$
231,086
 
$
119,969
 
$
396,760
 
$
222,887
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
A summary of stock option activity is as follows:
 
 
 
Number of 
Shares Issuable 
Upon Exercise
 
Weighted 
 
Weighted 
Average 
Remaining
Contracted 
 
Aggregate
 
 
 
of Outstanding 
Options
 
Average 
Exercise Price
 
Term in
Years
 
Intrinsic 
Value
 
Outstanding at December 31, 2016
 
 
471,433
 
$
7.59
 
 
 
 
 
 
 
Granted
 
 
87,300
 
$
1.93
 
 
 
 
 
 
 
Expired
 
 
—
 
$
—
 
 
 
 
 
 
 
Forfeited
 
 
—
 
$
—
 
 
 
 
 
 
 
Outstanding at June 30, 2017
 
 
558,733
 
$
6.70
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Vested, June 30, 2017
 
 
146,360
 
$
16.31
 
 
8.53
 
$
13,819
 
Unvested, June 30, 2017
 
 
412,373
 
$
3.30
 
 
9.07
 
$
27,641
 
Exercisable at June 30, 2017
 
 
146,360
 
$
16.31
 
 
8.53
 
$
13,819