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Stockholders Equity (Tables)

6 Months Ended

Jun. 30, 2021

Weighted-Average Fair Value of Options Granted

​

​	​	​	​	​
​	​	Six Months Ended June 30,
​		2021	​	2020
Expected term		6.25 years	​	6.25 years
Expected volatility		83.75%	​	84.39%
Risk-free interest rate		0.67%	​	1.45%
Expected dividend yield		0%	​	0%

Stock-Based Compensation Expense

​

​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended June 30,					​	Six Months Ended June 30,
​		2021		​	2020			2021		​	2020
Research and development expense	​	$	609,321	​	$	747,006	​	$	1,298,294	​	$	1,483,037
General and administrative expense	​		952,840	​		1,014,667	​		1,878,052	​		2,100,785
Total stock-based compensation expense	​	$	1,562,161	​	$	1,761,673	​	$	3,176,346	​	$	3,583,822

2003 Stock Incentive Plan

Company's Stock Option Activity

A summary of the Company’s stock option activity under the 2003 Plan for the six months ended June 30, 2021 is as follows:

​

​	​	​	​	​	​	​	​	​	​	​
​		​	​	​	​	​	WEIGHTED-	​	AGGREGATE
​		​	​	WEIGHTED-		​	AVERAGE	​	INTRINSIC
​		​	​	AVERAGE		​	REMAINING	​	VALUE
​		OUTSTANDING	​	EXERCISE		​	CONTRACTUAL	​	(IN
​	​	OPTIONS		PRICE			TERM (YEARS)		THOUSANDS)
Outstanding as of December 31, 2020	​	97,250	​	$	1.96		1.3	​	​	​
Options exercised	​	(3,785)	​		1.12	​	​	​	​	​
Options forfeited	​	—	​		—	​	​	​	​	​
Outstanding, Vested and Exercisable as of June 30, 2021	​	93,465	​		2.00		0.8	​	$	31

2013 Equity Incentive Plan

Company's Stock Option Activity

A summary of the Company’s stock option activity under the 2013 Plan for the six months ended June 30, 2021 is as follows:

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	WEIGHTED-	​	AGGREGATE
​		​	​	WEIGHTED-		​	AVERAGE	​	INTRINSIC
​		​	​	AVERAGE		​	REMAINING	​	VALUE
​		OUTSTANDING	​	EXERCISE		​	CONTRACTUAL	​	(IN
​		OPTIONS		PRICE			TERM (YEARS)		THOUSANDS)
Outstanding as of December 31, 2020	​	5,753,211	​	$	8.93	​	6.6	​	​	​
Options granted	​	898,100	​	​	3.70	​	​	​	​	​
Options exercised	​	—	​	​	—	​	​	​	​	​
Options forfeited	​	(815,132)	​	​	8.32	​	​	​	​	​
Outstanding as of June 30, 2021	​	5,836,179	​	​	8.22	​	6.8	​	$	—
Vested or expected to vest as of June 30, 2021	​	5,836,179	​	​	8.22	​	6.8	​	​	—
Exercisable as of June 30, 2021	​	4,128,319	​	​	9.17	​	5.2	​	​	—

Summary of RSU Activity

​

The following is a summary of RSU activity under the 2013 Plan for the six months ended June 30, 2021:

​

​	​	​	​	​	​	​
​		​	​	Weighted-Average
​	​	Number of Shares	​	Grant Date
​	​	Underlying RSUs		Fair Value
Unvested at December 31, 2020	​	192,533	​	$	4.53	​
Granted	​	444,613	​		3.72	​
Forfeited	​	(46,492)	​		3.83	​
Vested	​	—	​		—	​
Unvested at June 30, 2021	​	590,654	​		3.98	​

Inducement Plan

Company's Stock Option Activity

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	WEIGHTED-	​	AGGREGATE
​		​	​	WEIGHTED-		​	AVERAGE	​	INTRINSIC
​		​	​	AVERAGE		​	REMAINING	​	VALUE
​		OUTSTANDING	​	EXERCISE		​	CONTRACTUAL	​	(IN
​		OPTIONS		PRICE			TERM (YEARS)		THOUSANDS)
Outstanding as of December 31, 2020	​	100,600	​	$	3.09	​	9.5	​	​	​
Options granted	​	—	​	​	—	​	​	​	​	​
Options exercised	​	—	​	​	—	​	​	​	​	​
Options forfeited	​	(24,508)	​	​	2.06	​	​	​	​	​
Outstanding as of June 30, 2021	​	76,092	​	​	3.42	​	8.1	​	$	4
Vested or expected to vest as of June 30, 2021	​	76,092	​	​	3.42	​	8.1	​	​	4
Exercisable as of June 30, 2021	​	11,967	​	​	2.06	​	1.6	​	​	3

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