Equity Incentive Plan (Tables)
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9 Months Ended |
Sep. 30, 2019 |
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| Equity Incentive Plan |
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| Schedule of stock option activity |
The following is a summary of stock option activity under the Plans for the nine months ended September 30, 2019 and 2018:
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Weighted-Average
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Number of
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Weighted- Average
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Contractual Life
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Options
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Exercise Price
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(In Years)
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Outstanding at December 31, 2018
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138,324
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$
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34.17
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6.51
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Granted
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49,994
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7.20
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Forfeited
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(4,869)
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9.19
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Expired
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(3,237)
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16.25
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Outstanding at September 30, 2019
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180,212
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$
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27.68
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6.57
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Exercisable at September 30, 2019
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120,527
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$
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37.25
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5.32
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Vested and Expected to Vest at September 30, 2019
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180,212
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$
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27.68
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6.57
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Outstanding at December 31, 2017
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127,310
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$
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38.14
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5.83
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Granted
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27,687
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8.55
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Forfeited
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(1,567)
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15.95
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Expired
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(7,684)
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19.51
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Outstanding at September 30, 2018
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145,746
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$
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33.74
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6.09
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Exercisable at September 30, 2018
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96,863
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$
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43.10
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|
5.43
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Vested and Expected to Vest at September 30, 2018
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145,746
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$
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33.74
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6.09
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| Schedule of weighted average assumptions |
For the nine months ended September 30, 2019 and 2018, the fair value of each option grant has been estimated on the date of grant using the Black-Scholes Option Pricing Model with the following weighted-average assumptions:
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2019
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2018
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Risk-Free Interest Rate
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1.82
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%
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1.82
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%
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Expected Life
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5.00
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years
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8.02
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years
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Expected Volatility
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152
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%
|
158
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%
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Expected Dividend Yield
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0
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%
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0
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%
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| Schedule of restricted stock activity |
The following is a summary of restricted stock activity for the nine months ended September 30, 2019 and September 30, 2018:
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Weighted- Average
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Number of
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Weighted- Average
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Remaining
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Shares
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Grant Date Fair Value
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Recognition Period
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Nonvested Outstanding at December 31, 2018
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121,478
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$
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8.84
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Vested
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(55,335)
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8.94
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Forfeited
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(7,659)
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8.86
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Nonvested Outstanding at September 30, 2019
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58,484
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$
|
8.76
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|
1.73
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Nonvested Outstanding at December 31, 2017
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6,865
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22.81
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Awarded
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125,989
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8.55
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Vested
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(3,593)
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22.81
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Forfeited
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(3,349)
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8.63
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Nonvested Outstanding at September 30, 2018
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125,912
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$
|
8.92
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2.50
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| Schedule of stock-based compensation expense |
The total stock-based compensation expense for employees and non-employees is included in the accompanying Condensed Consolidated Statements of Operations and as follows:
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Three Months Ended
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Nine Months Ended
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September 30,
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September 30,
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2019
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2018
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2019
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2018
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Research and Development
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$
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42,062
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$
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85,106
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$
|
165,213
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$
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192,081
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General and Administrative
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137,660
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244,373
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483,605
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428,254
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Total Stock-Based Compensation Expense
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$
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179,722
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$
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329,479
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$
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648,818
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$
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620,335
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