Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.20.2
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense Recognized

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

 

    For the Three
Months Ended
September 30,
2020		     For the Three
Months Ended
September 30,
2019		     For the Nine
Months Ended
September 30,
2020		     For the Nine
Months Ended
September 30,
2019		  
Research and development   $ 46,584     $ 20,416     $ 194,431     $ 92,503  
General and administrative     148,369       211,759       1,022,777       450,089  
Total Stock-based compensation   $ 194,953     $ 232,175     $ 1,217,208     $ 542,592  

Summary of Stock Option Activity

The following table summarizes the stock option activity during the nine months ended September 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     3,315,984     $ 0.50       —     $ —  
Exercised     —     $ —       —     $ —  
Forfeited     (1,000 )   $ 100.00       —     $ —  
Outstanding at September 30, 2020     5,801,349     $ 0.90       8.77     $ 434,243  
                                 
Exercisable at September 30, 2020     4,086,855     $ 1.06       8.52     $ 200,871  

 

(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 September 30, 2020, respectively.