Annual report pursuant to Section 13 and 15(d)

Equity Incentive Plan (Tables)

v3.22.4
Equity Incentive Plan (Tables)
12 Months Ended
Dec. 31, 2022
Equity Incentive Plan  
Weighted-average assumptions used for the stock option grants

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

Grant date fair value

 

$ 1.46

 

 

$ 4.87

 

Risk-free interest rate

 

 

1.5 %

 

 

0.92 %

Dividend yield

 

 

0.00 %

 

 

0.00 %

Expected life in years

 

 

5.4

 

 

 

5.7

 

Expected volatility

 

 

123 %

 

 

122 %
Schedule of stock-based compensation expense

 

 

As of December 31,

 

 

 

2022

 

 

2021

 

Research and development

 

$ 218,324

 

 

$ 354,201

 

General and administrative

 

 

712,001

 

 

 

1,551,207

 

 

 

$ 930,325

 

 

$ 1,905,408

 

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

 

 

533,127

 

 

 

1.75

 

 

 

8.6

 

Options exercised

 

 

-

 

 

 

-

 

 

 

-

 

Options cancelled

 

 

-

 

 

 

-

 

 

 

-

 

Balance at December 31, 2022

 

 

1,056,326

 

 

$ 3.77

 

 

 

8.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable at December 31, 2022

 

 

617,769

 

 

$ 4.33

 

 

 

8.3

 

Schedule of restricted stock unit

 

 

Number of

RSU’s outstanding

 

Balance at December 31, 2021

 

 

-

 

RSUs granted

 

 

219,634

 

RSUs settled

 

 

219,634

 

RSUs cancelled

 

 

-

 

Balance at December 31, 2022

 

 

-