Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.22.2
STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2022 and 2021 (in thousands):

 

   

For the three months ended

June 30,

    

For the six months ended

June 30

  
    2022     2021     2022     2021  
                         
Research and development   $ 540     $ 1,092     $ 556     $ 2,247  
General and administrative     184       1,336       1,030       2,131  
Total stock-based compensation expense   $ 724     $ 2,428     $ 1,586     $ 4,378  

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:

 

      For the six months ended June 30,  
      2022       2021  
                 
Expected volatility     95.1% - 96.0%     98.9% - 99.8%
Expected term     6.07 - 6.08 years       5.25 - 6.08 years  
Risk-free interest rate     1.7% - 3.3%       0.9% - 1.2%  
Expected dividend yield     —       —  
SCHEDULE OF RESTRICTED STOCK AWARD ACTIVITY

The following table summarizes restricted stock award activity during the six months ended June 30, 2022:

 

   

Number of

Awards

     Weighted Average Grant Date Fair Value  
             
Outstanding at December 31, 2021     97,260     $ 46.59  
Granted     12,680     $ 6.29  
Cancelled/forfeited     (27,161 )   $ 39.38  
Vested     (21,671 )   $ 53.07  
Outstanding at June 30, 2022     61,108     $ 39.14  
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 six months ended June 30, 2022:

 

    Number of Options     Weighted Average Exercise Price    

Weighted Average Remaining

Contractual

Term (years)

     Aggregate Intrinsic Value (in thousands)  
                         
Outstanding at December 31, 2021     314,194     $ 38.48       7.63     $ —  
Granted     7,760     $ 5.30       —     $ —  
Cancelled/forfeited     (56,556 )   $ 35.31       —     $ —  
Exercised     —     $ —       —     $ —  
Outstanding at June 30, 2022     265,398     $ 38.18       6.69     $ 5  
Exercisable     148,066     $ 38.28       5.02     $ —  
Unvested     117,332     $ 38.05       8.81     $ 5  
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 six months ended June 30, 2022:

 

    Number of Options     Weighted Average Exercise Price    

Weighted Average Remaining

Contractual Term (years)

     Aggregate Intrinsic Value (in thousands)  
                         
Outstanding at December 31, 2021     3,200     $ 32.00       1.80     $ —  
Cancelled/forfeited     —     $ —       —     $ —  
Exercised     —     $ —       —     $ —  
Outstanding at June 30, 2022     3,200     $ 32.00       1.29     $ —  
Exercisable     3,200     $ 32.00       1.29     $ —  
Unvested     —     $ —       —     $ —