Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.24.1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2023
STOCK-BASED COMPENSATION  
Summary of the expense for stock-based compensation related to stock option grants

Twelve Months Ended

December 31, 

    

2023

    

2022

Employee and director stock option and stock grants:

  

  

Research and development

$

505,155

$

165,461

General and administrative

 

1,905,133

1,287,502

Total stock-based compensation

$

2,410,288

$

1,452,964

Schedule of assumptions used for stock

Year Ended December 31, 

 

    

2023

    

2022

 

Volatility

 

82.02-83.28

%  

82.47-100

%

Risk-free interest rate

 

3.59-4.68

%  

1.65-3.96

%

Expected life (years)

 

6

 

6

Dividend

 

0

%  

0

%

Summary of stock options activity

Number of

Shares

Issuable

Weighted

Upon

Average

Exercise

Weighted

Remaining

of

Average

Contracted

Aggregate

 

Outstanding

Exercise

 

Term in

Intrinsic

    

Options

    

Price

    

Years

    

Value

Outstanding as of December 31, 2021

 

423,820

$

22.70

 

  

 

  

Granted

 

440,250

$

4.51

 

 

  

Expired

 

(6)

$

15,000.00

 

 

  

Forfeited

 

(117,807)

$

12.02

 

 

  

Outstanding as of December 31, 2022

 

746,257

$

13.48

 

8.58

 

$

Granted

1,617,000

$

1.78

Expired

(8)

$

8,325

Forfeited

(11,346)

$

1.92

Outstanding as of December 31, 2023

2,351,903

$

5.46

8.64

$

1,682,667

Exercisable as of December 31, 2023

 

514,171

$

15.68

 

$

30,817

Unvested as of December 31, 2023

 

1,837,732

$

2.58

 

$

1,652,350