Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.21.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2021
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 March 31, 2021     For the Three Months Ended March 31, 2020  
Research and development   $ 30,927     $ 122,519  
General and administrative     1,092,834       742,591  
Total Stock-based compensation   $ 1,123,761     $ 865,110
Summary of Stock Option Activity

The following table summarizes the stock option activity during the three months ended March 31, 2021:

 

    Number of Shares     Weighted Average Exercise Price     Weighted Average Remaining Contractual Term (In Years)     Aggregate Intrinsic Value(1)  
Outstanding at December 31, 2020     5,801,349     $ 0.90       8.52     $ 2,773  
Granted     1,670,000     $ 1.20       —     $ —  
Exercised     —     $ —       —     $ —  
Forfeited     —       —       —     $ —  
Outstanding at March 31, 2021     7,471,349     $ 0.97       8.63     $ 1,928,437  
                                 
Exercisable at March 31, 2021     5,819,680     $ 0.98       8.41     $ 1,637,120  

 

(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, 2020 and March 31, 2021, respectively.