Annual report pursuant to Section 13 and 15(d)

Stock-based Compensation (Tables)

v3.21.1
Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense

We recorded stock-based compensation expense for the years ended December 31, 2020 and 2019 as follows:

 

    Years Ended
December 31,
 
    2020     2019  
Research and development   $ 863,069     $ 113,239  
General and administrative     1,866,973       397,240  
Total   $ 2,730,042     $ 510,478  
Summary of Information About Restricted Stock Awards Outstanding

The following table summarizes the information about restricted stock awards (“RSA”) outstanding for the year ended December 31, 2020  .

 

   

Number of

shares

   

Grant-date

fair value

 
Unvested as of December 31, 2019     -     $ -  
Granted     343,110       2,833,060  
Vested/Released     (214,078 )     (1,819,663 )
                 
Unvested as of December 31, 2020     129,032     $ 1,013,397  
Schedule of Stock Option Valuation Assumption

The fair value of our option awards granted during the years ended December 31, 2019 was estimated using the following assumptions:

 

    2019  
Average risk-free rate of interest     1.85 %
Expected term (years)     3.75 to 5.00  
Expected stock price volatility     81.77 %
Dividend yield     0 %
Schedule of Stock Option

The following table summarizes our stock option activity for the years ended December 31, 2020 and 2019:

 

    Total options Outstanding     Weighted average exercise price     Weighted average remaining contractual life (in years)  
Outstanding as of January 1, 2019     54,915     $ 20.45       9.8  
Options granted     129,919       16.80       4.5  
Exercised     -       -       -  
Forfeited     (7,872 )     16.80       4.5  
Outstanding as of December 31, 2019     176,962       17.93       5.8  
Options granted     -       -       -  
Exercised     -       -       -  
Forfeited     (24,156 )     16.80       3.66  
Outstanding as of December 31, 2020     152,806       18.11       6.16  
Exercisable (vested) at December 31, 2020     106,452       17.92       5.55