Quarterly report pursuant to Section 13 or 15(d)

Equity Incentive Plan (Tables)

v3.22.1
Equity Incentive Plan (Tables)
3 Months Ended
Mar. 31, 2022
Equity Incentive Plan  
Schedule of stock option activity

 

 

Number of

Options

Outstanding

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual

Term (in

Years)

 

Balance at December 31, 2021

 

 

523,199

 

 

$ 5.84

 

 

 

8.8

 

Options granted

 

 

478,127

 

 

 

1.89

 

 

 

-

 

Options exercised

 

 

-

 

 

 

-

 

 

 

-

 

Options cancelled

 

 

-

 

 

 

-

 

 

 

-

 

Balance at March 31, 2022

 

 

1,001,326

 

 

$ 3.95

 

 

 

8.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable at March 31, 2022

 

 

504,837

 

 

$ 4.22

 

 

 

9.1

 

Weighted-average assumptions used for the stock option grants

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Grant date fair value

 

$ 1.57

 

 

$ 4.86

 

Risk-free interest rate

 

 

1.39 %

 

 

0.9 %

Dividend yield

 

 

0.00 %

 

 

0.00 %

Expected life in years

 

 

5.3

 

 

 

5.5

 

Expected volatility

 

 

122 %

 

 

121 %
Schedule of stock-based compensation expense

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Research and development

 

$ 55,201

 

 

$ 250,227

 

General and administrative

 

 

157,679

 

 

 

909,822

 

 

 

$ 212,880

 

 

$ 1,160,049