Quarterly report pursuant to Section 13 or 15(d)

Equity Incentive Plan (Tables)

v3.24.1.1.u2
Equity Incentive Plan (Tables)
3 Months Ended
Mar. 31, 2024
Equity Incentive Plan  
Weighted-average assumptions used for the stock option grants

 

 

Three Months Ended

March 31,

 

 

 

2024

 

 

2023

 

Grant date fair value

 

$ 0.51

 

 

$ 4.23

 

Risk-free interest rate

 

 

4.0 %

 

 

3.9 %

Dividend yield

 

 

0.00 %

 

 

0.00 %

Expected life in years

 

 

5.9

 

 

 

6.1

 

Expected volatility

 

 

110 %

 

 

112 %
Schedule of stock-based compensation expense

 

 

Three Months Ended

March 31,

 

 

 

2024

 

 

2023

 

Research and development

 

$ 237,337

 

 

$ 48,425

 

General and administrative

 

 

349,897

 

 

 

82,835

 

 

 

$ 587,234

 

 

$ 131,260

 

Schedule of stock option activity

 

 

Number of

Options

Outstanding

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual

Term (in

Years)

 

Balance at December 31, 2023

 

 

102,074

 

 

$ 40.77

 

 

 

7.8

 

Options granted

 

 

410,000

 

 

 

0.61

 

 

 

-

 

Options exercised

 

 

-

 

 

 

-

 

 

 

-

 

Options cancelled

 

 

(101,831 )

 

 

40.65

 

 

 

-

 

Balance at March 31, 2024

 

 

410,243

 

 

$ 0.66

 

 

 

9.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable at March 31, 2024

 

 

11,905

 

 

$ 2.47

 

 

 

9.7