Annual report pursuant to Section 13 and 15(d)

Stock-based Compensation (Tables)

v3.22.1
Stock-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Schedule of Stock-based Compensation Expense

We recorded stock-based compensation expense for the years ended December 31, 2021 and 2020 as follows:

 

    Years Ended
December 31,		  
    2021     2020  
Research and development   $ 809,839     $ 863,069  
General and administrative     2,598,176       1,866,973  
Total   $ 3,408,015     $ 2,730,042  
Schedule of Information About RSA Outstanding

The following table summarizes the information about RSAs outstanding for the years ended December 31, 2020 and 2021.

 

   

Number of

shares

    

Weighted-average

grant-date

fair value per share

  
Unvested as of January 1, 2020     -     $ -  
Granted     336,860       8.33  
Vested and Issued     (190,274 )     8.50
Forfeited     (23,804 )     8.50
Unvested as of December 31, 2020     122,782       8.04  
Granted     37,500       6.65  
Vested and Issued     (58,467 )     7.90
Forfeited     (10,706 )     6.54
                 
Unvested as of December 31, 2021     91,109     $   7.74  
Schedule of Information About RSU Outstanding

The following table summarizes the information about RSUs outstanding for the year ended December 31, 2021.

 

    Number of
shares		     Weighted-average
grant-date fair value per share		  
Outstanding at January 1, 2021     -     $ -  
Granted     457,593       7.75  
Forfeited     (4,000 )     8.61  
Shares issued     (14,000 )     7.12  
                 
Outstanding at December 31, 2021     439,593     $ 7.76  
Vested and unissued     (190,493 )   $ 7.41  
                 
Unvested at December 31, 2021     249,100     $ 8.03  
Schedule of Stock Option Warrant Valuation Assumption

The fair value of the option award granted during the year ended December 31, 2021 was estimated using the following assumptions:

 

Average risk-free rate of interest     1.85 %
Expected term (years)     2  
Expected stock price volatility     81.77 %
Dividend yield     0 %
Schedule of Stock Option Activity

The following table summarizes our stock option activity during the years ended December 31, 2020 and 2021:

    Total options Outstanding     Weighted average exercise price     Weighted average remaining contractual life (in years)  
Outstanding as of January 1, 2020     176,962     $ 17.93        
Forfeited     (24,156 )     16.80        
Outstanding as of December 31, 2020     152,806       18.11          
Options granted     30,000       11.70      

1.2

  
Forfeited     (4,310 )     16.80        
Outstanding as of December 31, 2021     178,496       17.07       3.6  
Exercisable (vested) at December 31, 2021     154,398     $ 17.14       3.6  
Schedule of Warrants Activity

The following table summarizes our warrant activity during the years ended December 31, 2021 and 2020. We did not issue any warrants during 2020.

 

    Total warrants outstanding     Weighted average exercise price     Weighted average remaining contractual life (in years)  
Outstanding as of January 1, 2020     534,674     $ 18.34        
Warrants granted     -       -       -  
Outstanding as of December 31, 2020     534,674       18.34        
Warrants granted     229,268       8.09        
Forfeited     (460,217 )     18.31          
Outstanding as of December 31, 2021     303,725       10.66       1.5  
Exercisable (vested) at December 31, 2021     278,725     $ 10.90       1.4  
Warrant [Member]  
Schedule of Stock Option Warrant Valuation Assumption

         
Average risk-free rate of interest     0.42 –1.85 %
Expected term (years)     2.00–3.00  
Expected stock price volatility     74.48–81.77 %
Dividend yield     0 %