Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.20.1
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2019
STOCK-BASED COMPENSATION  
Schedule of Accounting for Stock-Based Compensation

The following table summarizes amounts charged to expense for stock-based compensation related to employee and director stock option grants:

 

 

 

 

 

 

 

 

 

 

 

Twelve Months Ended

 

 

December 31, 

 

    

2019

    

2018

Employee and director stock option grants:

 

  

 

 

  

 

Research and development

 

$

62,932

 

$

94,865

General and administrative

 

 

803,859

 

 

626,344

Total stock-based compensation

 

$

866,791

 

$

721,209

 

Schedule of weighted-average values and assumptions used for stock

The following table summarizes the weighted-average values and assumptions used for stock options granted to employees and directors in the periods indicated:

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

 

    

2019

    

2018

 

Volatility

 

 

91-93

%  

 

91-106

%

Risk-free interest rate

 

 

1.62-3.05

%  

 

2.64-3.05

%

Expected life (years)

 

 
6

 

 

 6

 

Dividend

 

 

 0

%  

 
0

%

Weighted-average exercise price

 

$

2.33

 

$

2.99

 

Weighted-average grant-date fair value

 

$

1.76

 

$

2.30

 

 

Schedule of Stock Options Activity

A summary of stock option activity is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of

 

 

 

 

Weighted

 

 

 

 

 

Shares

 

 

 

 

Average

 

 

 

 

 

Issuable Upon

 

Weighted

 

Remaining

 

 

 

 

 

Exercise of

 

Average

 

Contracted

 

Aggregate

 

 

Outstanding

 

Exercise

 

Term in

 

Intrinsic

 

    

Options

    

Price

    

Years

    

Value

Outstanding at December 31, 2017

 

53,165

 

$

73.82

 

  

 

 

  

Granted

 

184,129

 

$

2.99

 

  

 

 

  

Expired

 

(2,344)

 

$

463.16

 

  

 

 

  

Forfeited

 

(2,607)

 

$

19.46

 

  

 

 

  

Outstanding at December 31, 2018

 

232,343

 

$

14.37

 

9.30

 

$

 —

Granted

 

411,930

 

$

2.33

 

  

 

 

  

Expired

 

 —

 

$

 —

 

  

 

 

  

Forfeited

 

(33,559)

 

$

4.78

 

  

 

 

  

Outstanding at December 31, 2019

 

610,714

 

$

6.78

 

8.83

 

$

34,750

 

 

 

 

 

 

 

 

 

 

 

Exercisable, December 31, 2019

 

248,971

 

$

13.15

 

8.36

 

$

100

Unvested, December 31, 2019

 

361,743

 

$

2.39

 

9.16

 

$

34,650

 

Schedule of Restricted Stock Grants

The following table summarizes the restricted stock grants:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

Grant Date

 

Total Grant

 

 

Number of

 

Fair Value

 

Date Fair

 

 

Shares

 

Per Share

 

Value

Outstanding at December 31, 2017

    
38,000

    

$

20.95

    

$

796,000

Granted

 

 —

 

 

 —

 

 

   

Vested

 

(12,665)

 

 

20.95

 

 

(265,000)

Forfeited

 

(6,667)

 

 

20.80

 

 

(139,000)

Outstanding at December 31, 2018

 

18,668

 

 

21.00

 

 

392,000

Granted

 

 —

 

 

 —

 

 

 —

Vested

 

(9,334)

 

 

21.00

 

 

(196,000)

Forfeited

 

 —

 

 

 —

 

 

 —

Outstanding at December 31, 2019

 

9,334

 

$

21.00

 

$

196,000