STOCK-BASED COMPENSATION (Tables)
|
6 Months Ended |
Jun. 30, 2020 |
|---|
| Share-based Payment Arrangement [Abstract] |
|
| SCHEDULE OF STOCK BASED COMPENSATION |
The
following table summarizes stock option-based compensation for the three and six months ended June 30, 2020 and 2019:
SCHEDULE
OF STOCK BASED COMPENSATION
| |
|
For
the three
months ended
June 30, |
|
|
For
the three
months ended
June 30, |
|
|
For
the six
months ended
June 30, |
|
|
For
the six
months ended
June 30, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| Research and development |
|
$ |
871,000 |
|
|
$ |
1,009,000 |
|
|
$ |
1,615,000 |
|
|
$ |
2,041,000 |
|
| General and administrative |
|
|
707,000 |
|
|
|
669,000 |
|
|
|
1,219,000 |
|
|
|
1,740,000 |
|
| Stock option-based compensation expense
included in operating expense |
|
|
1,578,000 |
|
|
|
1,678,000 |
|
|
|
2,834,000 |
|
|
|
3,781,000 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total stock option-based compensation
expense |
|
|
1,578,000 |
|
|
|
1,678,000 |
|
|
|
2,834,000 |
|
|
|
3,781,000 |
|
| Tax benefit |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Stock option-based
compensation expense, net of tax |
|
$ |
1,578,000 |
|
|
$ |
1,678,000 |
|
|
$ |
2,834,000 |
|
|
$ |
3,781,000 |
|
|
| SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS TO ESTIMATE THE FAIR VALUE OF THE OPTIONS GRANTED |
We
used the following weighted-average assumptions to estimate the fair value of the options granted for the periods indicated:
SCHEDULE
OF WEIGHTED-AVERAGE ASSUMPTIONS TO ESTIMATE THE FAIR VALUE OF THE OPTIONS GRANTED
| |
|
For
the three
months ended
June 30, |
|
|
For
the three
months ended
June 30, |
|
|
For
the six
months ended
June 30, |
|
|
For
the six
months ended
June 30, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| Expected
volatility |
|
|
111% |
|
|
|
108% |
|
|
|
111% |
|
|
|
108% |
|
| Expected term |
|
|
6.25
years |
|
|
|
5
years |
|
|
|
6.25
years |
|
|
|
5
years |
|
| Risk-free interest
rate |
|
|
0.23% |
|
|
|
2.21% |
|
|
|
0.30% |
|
|
|
2.24% |
|
| Expected dividend yield |
|
|
0% |
|
|
|
0% |
|
|
|
0% |
|
|
|
0% |
|
|
| SCHEDULE OF OPTIONS ACTIVITY |
The
following table summarizes the options granted for the periods indicated:
SCHEDULE
OF OPTIONS ACTIVITY
| |
|
For
the three
months ended
June 30, |
|
|
For
the three
months ended
June 30, |
|
|
For
the six
months ended
June 30, |
|
|
For
the six
months ended
June 30, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| Options granted |
|
|
1,897,119 |
|
|
|
1,183,890 |
|
|
|
3,073,046 |
|
|
|
1,384,890 |
|
| Weighted-average: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercise price |
|
$ |
2.83 |
|
|
$ |
6.86 |
|
|
$ |
2.30 |
|
|
$ |
6.84 |
|
| Grant date fair
value |
|
$ |
2.36 |
|
|
$ |
5.39 |
|
|
$ |
1.92 |
|
|
$ |
5.37 |
|
|
| SCHEDULE OF RESTRICTED COMMON STOCK SHARE-BASED COMPENSATION |
SCHEDULE
OF RESTRICTED COMMON STOCK SHARE-BASED COMPENSATION
| |
|
For
the three
months ended
June 30, |
|
|
For
the three
months ended
June 30, |
|
|
For
the six
months ended
June 30, |
|
|
For
the six
months ended
June 30, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| Research and development |
|
$ |
147,000 |
|
|
$ |
- |
|
|
$ |
472,000 |
|
|
$ |
- |
|
| General and administrative |
|
|
40,000 |
|
|
|
78,000 |
|
|
|
179,000 |
|
|
|
250,000 |
|
| Restricted stock-based compensation
expense included in operating expense |
|
|
187,000 |
|
|
|
78,000 |
|
|
|
651,000 |
|
|
|
250,000 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total restricted stock-based compensation
expense |
|
|
187,000 |
|
|
|
78,000 |
|
|
|
651,000 |
|
|
|
250,000 |
|
| Tax benefit |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Restricted stock-based
compensation expense, net of tax |
|
$ |
187,000 |
|
|
$ |
78,000 |
|
|
$ |
651,000 |
|
|
$ |
250,000 |
|
|