Quarterly report pursuant to Section 13 or 15(d)

Equity Incentive Plan (Tables)

v3.21.1
Equity Incentive Plan (Tables)
 3 Months Ended
Mar. 31, 2021
Equity Incentive Plan  
Schedule of stock option activity

The following is a summary of stock option activity for the three months ended March 31, 2021 and 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-Average

 

 

Number of

 

Weighted- Average

 

Contractual Life

 

    

Options

    

Exercise Price

    

(In Years)

Outstanding at December 31, 2020

 

246,893

 

$
20.90

 
7.20

Granted

 

130,865

 

 
6.46

 

 

Expired

 

(7,103)

 

 
10.83

 

 

Forfeited

 

(296)

 

 
6.78

 

 

Outstanding at March 31, 2021

 

370,359

 

$

16.00

 
7.70

Exercisable at March 31, 2021

 

176,055

 

$

26.59

 
6.35

Vested and Expected to Vest at March 31, 2021

 

370,359

 

$

16.00

 
7.70

 

 

 

 

 

 

 

  

Outstanding at December 31, 2019

 

174,175

 

$

27.42

 

6.22

Granted

 

75,665

 

 

6.55

 

 

Expired

 

(8,812)

 

 

11.06

 

 

Forfeited

 

(3,333)

 

 

7.20

 

 

Outstanding at March 31, 2020

 

237,695

 

$

21.67

 

7.53

Exercisable at March 31, 2020

 

137,846

 

$

32.33

 

6.05

Vested and Expected to Vest at March 31, 2020

 

237,695

 

$

21.67

 

7.53

 

Schedule of weighted average assumptions

For the three months ended March 31, 2021 and 2020, 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:

 

 

 

 

 

 

 

 

    

2021

    

2020

 

Risk-Free Interest Rate

 

1.82

%  

1.82

%

Expected Life

 

5.00

years

5.00

years

Expected Volatility

 

145

%  

155

%

Expected Dividend Yield

 

 0

%  

 0

%

 

Schedule of restricted stock activity

The following is a summary of restricted stock activity for the three months ended March 31, 2021 and 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted- Average

 

 

Number of

 

Weighted- Average

 

Remaining

 

    

Shares

    

Grant Date Fair Value

    

Recognition Period

Non-vested Outstanding at December 31, 2020

 

67,420

 

$

7.10

 
1.66

Vested

 

(25,422)

 

 

7.17

 

 —

Forfeited

 

(233)

 

 

6.89

 

 —

Non-vested Outstanding at March 31, 2021

 

41,765

 

$

7.05

 
1.44

Non-vested Outstanding at December 31, 2019

 

50,187

 

$

8.64

 

1.49

Awarded

 

49,000

 

 

6.55

 

 —

Vested

 

(8,159)

 

 

9.07

 

 —

Non-vested Outstanding at March 31, 2020

 

91,028

 

$

7.47

 

2.11

 

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:

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 

 

    

2021

    

2020

Research and Development

 

$

71,586

 

$

45,653

General and Administrative

 

 

145,359

 

 

100,267

Total Stock-Based Compensation Expense

 

$

216,945

 

$

145,920