Quarterly report pursuant to Section 13 or 15(d)

Equity Incentive Plan (Tables)

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

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Grant date fair value

 

$ 0.45

 

 

$ 4.54

 

 

$ 1.46

 

 

$ 4.87

 

Risk-free rate

 

 

2.9 %

 

 

0.98 %

 

 

1.5 %

 

 

0.92 %

Dividend yield

 

 

0.00 %

 

 

0.00 %

 

 

0.0 %

 

 

0.00 %

Expected life in years

 

 

6.1

 

 

 

5.8

 

 

 

5.4

 

 

 

5.7

 

Expected volatility

 

 

132 %

 

 

125 %

 

 

123 %

 

 

122 %
Schedule of stock-based compensation expense

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Research and development

 

$ 54,907

 

 

$ 30,075

 

 

$ 163,417

 

 

$ 310,046

 

General and administrative

 

 

180,076

 

 

 

112,580

 

 

 

546,018

 

 

 

1,106,645

 

 

 

$ 234,983

 

 

$ 142,655

 

 

$ 709,435

 

 

$ 1,416,691

 

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

 

 

 

-

 

Options exercised

 

 

-

 

 

 

-

 

 

 

-

 

Options cancelled

 

 

-

 

 

 

-

 

 

 

-

 

Balance at September 30, 2022

 

 

1,056,326

 

 

$ 3.77

 

 

 

8.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercisable at September 30, 2022

 

 

586,100

 

 

$ 4.32

 

 

 

8.6

 

Schedule of restricted stock unit

 

 

Number of

RSU’s outstanding

 

Balance at December 31, 2021

 

 

-

 

RSUs granted

 

 

127,726

 

RSUs settled

 

 

-

 

RSUs cancelled

 

 

-

 

Balance at September 30, 2022

 

 

127,726