Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.22.1
STOCK-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
SCHEDULE OF STOCK BASED COMPENSATION

The following table summarizes stock-based compensation expense for the three months ended March 31, 2022 and 2021:

 

(in thousands)   2022     2021  
    For the three months ended March 31,  
(in thousands)   2022     2021  
Research and development   $ 372     $ 1,155  
General and administrative     490       795  
Stock based compensation expense   $ 862     $ 1,950  
SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS TO ESTIMATE THE FAIR VALUE OF THE OPTIONS GRANTED

The Company estimated the fair value of stock options granted in the periods presented utilizing a Black-Scholes option-valuation model utilizing the following assumptions:

 

    2022     2021  
    For the three months ended March 31,  
    2022     2021  
Expected volatility     95 %     99 %
Expected term     6.08 years       6.08 years  
Risk-free interest rate     1.73 %     1.00 %
Expected dividend yield     0 %     0 %
SCHEDULE OF RESTRICTED STOCK AWARD ACTIVITY

The following table summarizes restricted stock award activity during the three months ended March 31, 2022:

 

    Number of Awards     Weighted Average Grant Date Fair Value  
Outstanding at December 31, 2021     2,431,515     $ 1.86  
Granted     252,000     $ 0.28  
Cancelled/forfeited     (377,523 )   $ 1.58  
Vested     (357,658 )   $ 2.31  
Outstanding at March 31, 2022     1,948,334     $ 1.63  
2015 Equity Incentive Plan [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
SCHEDULE OF STOCK OPTIONS ACTIVITY

The following table summarizes stock option activity for the 2015 Incentive Plan during the three months ended March 31, 2022 :

 

    Number of Options     Weighted Average Exercise Price    

Weighted Average Remaining

Contractual

Term (years)

     Aggregate Intrinsic Value (in thousands)  
Outstanding at December 31, 2021     7,854,851     $ 1.54       7.63     $ -  
Granted     104,000     $ 0.26       -     $ -  
Cancelled/forfeited     (937,048 )   $ 1.40       -     $ -  
Exercised     -     $ -       -     $ -  
Outstanding at March 31, 2022     7,021,803     $ 1.54       7.24     $ 6  
Exercisable     3,516,716     $ 1.51       5.49     $ -  
Unvested     3,505,087     $ 1.57       8.98     $ 6  
2005 Equity Incentive Plan [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
SCHEDULE OF STOCK OPTIONS ACTIVITY

The following table summarizes stock option activity for the 2005 Incentive Plan during the three months ended March 31, 2022 :

    Number of Options     Weighted Average Exercise Price    

Weighted Average Remaining

Contractual Term (years)

     Aggregate Intrinsic Value (in thousands)  
Outstanding at December 31, 2021     80,000     $ 1.28       1.80     $          -  
Cancelled/forfeited     -     $ -       -     $ -  
Exercised     -     $ -       -     $ -  
Outstanding at March 31, 2022     80,000     $ 1.28       1.54     $ -  
Exercisable     80,000     $ 1.28       1.54     $ -  
Unvested     -     $ -       -     $ -