Annual report pursuant to Section 13 and 15(d)

Equity Incentive Plan (Tables)

v3.24.1
Equity Incentive Plan (Tables)
12 Months Ended
Dec. 31, 2023
Equity Incentive Plan  
Weighted-average assumptions used for the stock option grants

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

Grant date fair value

 

$ 4.23

 

 

$ 23.36

 

Risk-free interest rate

 

 

3.9 %

 

 

1.5 %

Dividend yield

 

 

0.00 %

 

 

0.00 %

Expected life in years

 

 

6.1

 

 

 

5.4

 

Expected volatility

 

 

112 %

 

 

123 %
Schedule of stock-based compensation expense

 

 

Year Ended

December 31,

 

 

 

2023

 

 

2022

 

Research and development

 

$ 193,700

 

 

$ 218,324

 

General and administrative

 

 

328,382

 

 

 

712,001

 

 

 

$ 522,082

 

 

$ 930,325

 

Schedule of stock option activity

 

 

Number of

Options

Outstanding

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual

Term (in

Years)

 

Balance at December 31, 2022

 

 

65,983

 

 

$ 60.32

 

 

 

8.2

 

Options granted

 

 

36,091

 

 

 

4.96

 

 

 

9.0

 

Options exercised

 

 

-

 

 

 

-

 

 

 

-

 

Options cancelled

 

 

-

 

 

 

-

 

 

 

-

 

Balance at December 31, 2023

 

 

102,074

 

 

$ 40.77

 

 

 

7.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable at December 31, 2023

 

 

53,413

 

 

$ 63.51

 

 

 

7.3