Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.20.4
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2020
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, 

 

    

2020

    

2019

Employee and director stock option grants:

 

  

 

 

  

 

Research and development

 

$

72,579

 

$

62,932

General and administrative

 

 

394,962

 

 

803,859

Total stock-based compensation

 

$

467,541

 

$

866,791

 

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, 

 

 

    

2020

    

2019

 

Volatility

 

 

96-106

%  

 

91-93

%

Risk-free interest rate

 

 

0.42-1.67

%  

 

1.62-3.05

%

Expected life (years)

 

 

 6

 

 

 6

 

Dividend

 

 

 0

%  

 

 0

%

Weighted-average exercise price

 

$

1.84

 

$

2.33

 

Weighted-average grant-date fair value

 

$

1.42

 

$

1.76

 

 

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, 2018

 

232,343

 

$

14.37

 

  

 

 

  

Granted

 

411,930

 

$

2.33

 

  

 

 

  

Forfeited

 

(33,559)

 

$

4.78

 

  

 

 

  

Outstanding at December 31, 2019

 

610,714

 

$

6.78

 

 —

 

$

34,650

Granted

 

653,750

 

$

1.84

 

 

 

 

 

Forfeited

 

80,000

 

$

2.46

 

 

 

 

 

Outstanding at December 31, 2020

 

1,184,464

 

$

4.34

 

8.57

 

$

316,688

 

 

 

 

 

 

 

 

 

 

 

Exercisable, December 31, 2020

 

458,325

 

$

8.26

 

7.70

 

$

6,828

Unvested, December 31, 2020

 

726,139

 

$

1.87

 

9.12

 

$

309,859

 

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, 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

Granted

 

 —

 

 

 —

 

 

 —

Vested

 

(9,334)

 

 

21.00

 

 

(196,000)

Forfeited

 

 —

 

 

 —

 

 

 —

Outstanding at December 31, 2020

 

 —

 

$

 —

 

$

 —