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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2019
Share-based Payment Arrangement [Abstract] |
Schedule of Stock-based Compensation Expense for Options Granted Reflected in the Consolidated Statement of Operations and Comprehensive Loss | Stock-based compensation expense for options granted are reflected in the consolidated statements of operations and comprehensive loss as follows:
| Year Ended December 31, |  |
| 2019 |  | 2018
General and administrative | $ | 362,833 |  |  | $ | 515,160 |
Research and development | 521,256 |  |  | 559,527 |
Total | $ | 884,089 |  |  | $ | 1,074,687 |
Schedule of Weighted Average Assumptions Utilized in Fair Value Calculation | Weighted average assumptions utilized in the fair value calculation for options to purchase common stock as of December 31, 2019 and 2018 are as follows:
| Year Ended December 31, |  |
| 2019 |  | 2018
Weighted average common stock price | $1.04 |  |  | $9.72 |
Expected option term (years) | 6.0 |  | 6.0 – 10.0
Weighted average expected stock price volatility | 109% |  |  | 85% |
Risk-free interest rate | 1.5% – 2.4% |  | 2.3% – 3.0%
Expected dividend rate | —% |  |  | —% |
Schedule of Stock Option Activity | The following table summarizes the stock option activity under the Plans:
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value
Options outstanding at December 31, 2018 | 632,752 |  |  | $ | 5.93 |  |  | 7.9 |  |  | $ | 4,801,696 |
Granted | 238,761 |  |  | $ | 1.04 |  |  |  |  |  |
Cancelled | (140,324) |  |  | $ | 4.58 |  |  |  |  |  |
Options outstanding at December 31, 2019 | 731,189 |  |  | $ | 4.59 |  |  | 8.0 |  | $ | 24,028 |
Options exercisable at December 31, 2019 | 385,841 |  |  | $ | 5.15 |  |  | 6.8 |  | $ | 3,049 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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