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7. STOCKHOLDERS' EQUITY (Tables)
9 Months Ended
Sep. 30, 2019
STOCKHOLDERS' EQUITY  
Schedule of assumptions
   Nine Months Ended September 30,
   2019  2018
       
Expected term   5.8 - 6.3 years    5.8-6.3 years 
Volatility   54.2-62.9%    54-57% 
Dividend yield   0.0    0.0 
Risk-free interest rate   1.36-2.92%    2.40-2.97% 
Schedule of stock option activity
   Shares  Weighted Average Exercise Price
Balance at December 31, 2018   4,342,231   $5.16 
Forfeited   (152,903)  $3.94 
Expired   (12,985)  $4.88 
Granted   1,493,100   $3.49 
Exercised   (29,904)  $2.84 
Balance at September 30, 2019   5,639,539   $4.76 
           
Options exercisable   3,036,543   $5.67 
Stock-based compensation expense
   Three Months Ended September 30,  Nine Months Ended September 30,
   2019  2018  2019  2018
             
Research and development  $95,757   $84,588   $271,823   $246,231 
Plasma centers   13,333    7,836    38,086    22,682 
Selling, general and administrative   491,710    444,651    1,559,530    1,245,702 
Cost of product revenue   49,870    40,506    145,230    113,141 
Total stock-based compensation expense  $650,670   $577,581   $2,014,669   $1,627,756