Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation (Tables)

v3.23.1
Stock-based Compensation (Tables)
6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Based Compensation Expenses Recognized

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

 

    For the Three Months Ended June 30, 2022     For the Three Months Ended June 30, 2021     For the Six Months Ended June 30, 2022     For the Six Months Ended June 30, 2021  
Research and development   $ 26,399     $ 48,761     $ 65,854     $ 79,688  
General and administrative     252,589       182,379       303,381       1,275,213  
Total Stock-based compensation   $ 278,988     $ 231,140     $ 369,235     $ 1,354,901  
Summary of Stock Option Activity

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

 

    Number of Shares     Weighted Average Exercise Price     Weighted Average Remaining Contractual Term (In Years)     Aggregate Intrinsic Value(1)  
Outstanding at December 31, 2021     6,724,402     $ 0.95       7.99     $ 2,773  
Granted     1,382,500       0.32           $  
Exercised                     $  
Expired     (4,500 )     12.00                  
Forfeited     (726,998 )     0.94           $  
Outstanding at June 30, 2022     7,375,404     $ 0.83       8.06     $ 72,050  
                                 
Exercisable at June 30, 2022     5,952,900     $ 0.89       7.74     $ 36,300  

 

(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, 2021 and June, 2022, respectively.