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STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

SCHEDULE OF STOCK BASED COMPENSATION

The following table summarizes stock option-based compensation for the three months ended March 31, 2021 and 2020:

 SCHEDULE OF STOCK BASED COMPENSATION

		For the three months ended March 31,
		2021				2020
Research and development		$	609,000			$	744,000
General and administrative			474,000				512,000
Stock option-based compensation expense  included in operating expense			1,083,000				1,256,000
Total stock option-based compensation expense			1,083,000				1,256,000
Tax benefit			-				-
Stock option-based compensation expense, net of tax		$	1,083,000			$	1,256,000

SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS TO ESTIMATE THE FAIR VALUE OF THE OPTIONS GRANTED

We used the following weighted-average assumptions to estimate the fair value of the options granted for the periods indicated:

 SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS TO ESTIMATE THE FAIR VALUE OF THE OPTIONS GRANTED

		For the three months ended March 31,
		2021				2020
Expected volatility			99%				111%
Expected term			6.08 years				6.25 years
Risk-free interest rate			1.00%				0.43%
Expected dividend yield			0%				0%

SCHEDULE OF OPTIONS ACTIVITY

The following table summarizes the options granted for the periods indicated:

 SCHEDULE OF OPTIONS ACTIVITY

		For the three months ended March 31,
		2021				2020
Options granted			2,149,500				1,175,927
Weighted-average:
Exercise price		$	2.29			$	1.45
Grant date fair value		$	1.80			$	1.21

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

SCHEDULE OF STOCK BASED COMPENSATION

Restricted Common Stock: The following table summarizes restricted common stock compensation expense for the three months ended March 31, 2021 and 2020:

 SCHEDULE OF STOCK BASED COMPENSATION

		For the three months ended March 31,
		2021				2020
Research and development		$	546,000			$	325,000
General and administrative			321,000				139,000
Restricted stock-based compensation expense included in operating expense			867,000				464,000
Total restricted stock-based compensation expense			867,000				464,000
Tax benefit			-				-
Restricted stock-based compensation expense, net of tax		$	867,000			$	464,000

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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.

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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.

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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.

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