Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

The Company recognized stock-based compensation on all employee and non-employee awards as follows:

	For the Three Months Ended June 30, 2020		For the Three Months Ended June 30, 2019		For the Six Months Ended June 30, 2020		For the Six Months Ended June 30, 2019
Research and development	$	25,328	$	35,784	$	147,847	$	72,087
General and administrative		131,817		128,804		874,408		238,330
Total Stock-based compensation	$	157,145	$	164,588	$	1,022,255	$	310,417

The following table summarizes the stock option activity during the six months ended June 30, 2020:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (In Years)		Aggregate Intrinsic Value⁽¹⁾
Outstanding at December 31, 2019		2,486,365		$	1.47		8.67	$	22,229
Granted		3,235,984		$	0.48		—	$	—
Exercised		—		$	—		—	$	—
Forfeited		(1,000	)	$	100.00		—	$	—
Outstanding at June 30, 2020		5,721,349		$	0.89		9.01	$	856,600

Exercisable at June 30, 2020		3,778,519		$	1.08		8.80	$	473,689

(1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing market price of our common stock as of December 31, 2019 and June 30, 2020, respectively.