Annual report pursuant to Section 13 and 15(d)

Equity (Tables)

v3.20.1
Equity (Tables)
12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Components of Share-Based Compensation
Stock-based compensation expense for the years ended December 31, 2019 and 2018 is as follows (in thousands):
Year Ended December 31,
2019 2018
General and administrative $ 1,324    $ 976   
Research and development 213    164   
Total Stock-Based Compensation $ 1,537    $ 1,140   
Schedule of Assumptions Used The assumptions used in determining the fair value of the Company’s outstanding liability classified warrants are as follows:
Year Ended December 31,
2019
2018
Risk-free interest rate
1.58%   
to
1.67  % 2.46  %
to
2.51  %
Volatility
97.50%   
to
107.50  % 75.00  %
to
80.00  %
Expected life (years)
2.12
to
4.32 3.12
to
4.98
Dividend yield
—%    —%   
The fair value of the option grants has been estimated, with the following weighted-average assumptions:

Year Ended December 31,
2019 2018
Risk-free interest rate 1.56%    to    2.20%    0.95%    to    2.24%   
Volatility 85%    to    110%    70.18%    to    89.11%   
Expected life (years) 5.31 to 6.25 5 to 6.25
Expected dividend yield —%    —%   
Summary of Option Activities
Stock option activity for the year ended December 31, 2019 is as follows:
Number of
Shares
Weighted Average Grant Date Fair Value
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
(in years)
Aggregate
Intrinsic
Value
Outstanding, December 31, 2018 2,794,000    $ 1.78    $ 2.61    9.43 $ 21,200   
Granted 1,170,000    $ 1.03    $ 1.29   
Exercised (25,000)   $ 0.13    $ 0.20    $ 15,750   
Forfeited (103,000)   $ 1.29    $ 1.82   
Outstanding, December 31, 2019 3,836,000    $ 1.59    $ 2.26    8.34 $ —   
Exercisable, December 31, 2019 1,194,335    $ 2.16    $ 3.22    7.49 $ —