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STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

SCHEDULE OF STOCK BASED COMPENSATION

The following table summarizes stock-based compensation expense for the three months ended March 31, 2023 and 2022 (in thousands):

 SCHEDULE OF STOCK BASED COMPENSATION

		2023				2022
		For the three months ended March 31,
		2023				2022
Research and development		$	584			$	372
General and administrative			186				490
Total stock-based compensation expense		$	770			$	862

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

The Company estimated the fair value of stock options granted in the periods presented utilizing a Black-Scholes option-valuation model utilizing the following assumptions:

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

		For the three months ended March 31,
		2023*				2022
Expected volatility			n/a				95.13% - 95.26%
Expected term			n/a				6.07 – 6.08 years
Risk-free interest rate			n/a				1.69% - 1.76%
Expected dividend yield			n/a				0%

* the Company did not grant any stock options in the three months ended March 31, 2023.

SCHEDULE OF STOCK OPTIONS ACTIVITY

The following table summarizes stock option activity for the 2015 Incentive Plan and the 2005 Incentive Plan during the three months ended March 31, 2023:

SCHEDULE OF STOCK OPTIONS ACTIVITY

		Number of Options				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (years)				Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2022			240,770			$	37.04				6.42			$	—
Granted			—			$	—				—			$	—
Cancelled/forfeited			(6,073	)		$	38.65				—			$	—
Exercised			—			$	—				—			$	—
Outstanding at March 31, 2023			234,697			$	37.00				6.21			$	—
Exercisable			162,633			$	36.33				5.36			$	—
Unvested			72,064			$	38.52				8.12			$	—

SCHEDULE OF RESTRICTED STOCK AWARD ACTIVITY

The following table summarizes restricted stock award activity for the 2015 Incentive Plan and Inducement Grants during the three months ended March 31, 2023:

 SCHEDULE OF RESTRICTED STOCK AWARD ACTIVITY

		Number of Awards				Weighted Average Grant Date Fair Value Per Unit
Outstanding at December 31, 2022			816,958			$	5.35
Granted			136,850			$	2.44
Cancelled/forfeited			(23,862	)		$	4.89
Vested			(9,651	)		$	47.36
Outstanding at March 31, 2023			920,295			$	4.49

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- References

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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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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
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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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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
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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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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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