Quarterly report pursuant to Section 13 or 15(d)

Equity Incentive Plan (Tables)

v3.22.2.2
Equity Incentive Plan (Tables)
6 Months Ended
Jun. 30, 2022
Equity Incentive Plan  
Weighted-average assumptions used for the stock option grants

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Grant date fair value

 

$ 1.57

 

 

$ 5.74

 

 

$ 1.57

 

 

$ 5.74

 

Risk-free rate

 

 

1.39 %

 

 

0.9 %

 

 

1.39 %

 

 

0.9 %

Dividend yield

 

 

0.00 %

 

 

0.00 %

 

 

0.0 %

 

 

0.00 %

Expected life in years

 

 

5.3

 

 

 

5.5

 

 

 

5.3

 

 

 

5.5

 

Expected volatility

 

 

122 %

 

 

121 %

 

 

122 %

 

 

121 %
Schedule of stock-based compensation expense

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Research and development

 

$ 53,309

 

 

$ 29,744

 

 

$ 108,510

 

 

$ 279,971

 

General and administrative

 

 

208,263

 

 

 

84,243

 

 

 

365,942

 

 

 

994,065

 

 

 

$ 261,572

 

 

$ 113,987

 

 

$ 474,452

 

 

$ 1,274,036

 

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 June 30, 2022

 

 

1,001,326

 

 

$ 3.95

 

 

 

8.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable at June 30, 2022

 

 

545,884

 

 

$ 4.28

 

 

 

8.8

 

Schedule of restricted stock unit

 

 

Number of

RSU’s outstanding

 

Balance at December 31, 2021

 

 

-

 

RSUs granted

 

 

47,137

 

RSUs settled

 

 

-

 

RSUs cancelled

 

 

-

 

Balance at June 30, 2022

 

 

47,137