Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.19.3
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Option-Based Compensation Expenses

The following table summarizes option-based compensation expense for the three and nine months ended September 30, 2019 and 2018:

 

    For the three months ended September 30,     For the nine months ended September 30,  
    2019     2018     2019     2018  
Research and development   $ 972,000     $ 1,012,000     $ 3,013,000     $ 2,756,000  
General and administrative     854,000       1,487,000       2,594,000       4,316,000  
Stock-based compensation expense included in operating expense     1,826,000       2,499,000       5,607,000       7,072,000  
                                 
Total stock-based compensation expense     1,826,000       2,499,000       5,607,000       7,072,000  
Tax benefit     -       -       -       -  
Stock-based compensation expense, net of tax   $ 1,826,000     $ 2,499,000     $ 5,607,000     $ 7,072,000  

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:

 

    For the three months ended September 30,     For the nine months ended September 30,  
    2019     2018     2019     2018  
Expected volatility     103 %     109 %     108 %     109 %
Expected term     6.25 years       5.00 years       5.09 years       5.00 years  
Risk-free interest rate     1.83 %     2.78 %     2.21 %     2.54 %
Expected dividend yield     0 %     0 %     0 %     0 %

Schedule of Options Granted

The following table summarizes the options granted for the periods indicated:

 

    For the three months ended September 30,     For the nine months ended September 30,  
    2019     2018     2019     2018  
Options granted     105,600       157,000       1,490,490       1,026,800  
Weighted-average:                                
Exercise price   $ 2.58     $ 14.45     $ 6.53     $ 14.38  
Grant date fair value   $ 2.09     $ 11.44     $ 5.14     $ 11.36

Restricted Stock [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Option-Based Compensation Expenses

The following table summarizes restricted common stock-based compensation expense for the three and nine months ended September 30, 2019 and 2018:

 

    For the three months ended September 30,     For the nine months ended September 30,  
    2019     2018     2019     2018  
Research and development   $ 66,000     $ -     $ 66,000     $ -  
General and administrative     32,000       172,000       282,000       516,000  
Stock-based compensation expense included in operating expense     98,000       172,000       348,000       516,000  
                                 
Total stock-based compensation expense     98,000       172,000       348,000       516,000  
Tax benefit     -       -       -       -  
Stock-based compensation expense, net of tax   $ 98,000     $ 172,000     $ 348,000     $ 516,000