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Stockholders Equity (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Weighted-Average Fair Value of Options Granted | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 | ​ | 2020 | ​ | 2019
Expected term |  | 6.25 years | ​ | 6.25 years | ​ | 6.25 years
Expected volatility |  | 84.19% | ​ | 84.40% | ​ | 71.15%
Risk-free interest rate |  | 0.78% | ​ | 1.41% | ​ | 2.54%
Expected dividend yield |  | 0% | ​ | 0% | ​ | 0%
Stock-Based Compensation Expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  |  | 2021 |  | 2020 |  | 2019
Research and development expense | ​ | ​ | $ | 2,214,848 | ​ | $ | 2,946,952 | ​ | $ | 2,402,242
General and administrative expense | ​ | ​ |  | 3,872,438 | ​ |  | 3,954,806 | ​ |  | 3,812,848
Total stock-based compensation expense | ​ | ​ | $ | 6,087,286 | ​ | $ | 6,901,758 | ​ | $ | 6,215,090
2003 Stock Incentive 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 | ​ | 97,250 | ​ | $ | 1.96 |  | 1.3 | ​ | ​ | ​
Options exercised | ​ | (3,785) | ​ |  | 1.12 | ​ | ​ | ​ | ​ | ​
Options forfeited | ​ | — | ​ |  | — | ​ | ​ | ​ | ​ | ​
Outstanding, Vested and Exercisable as of December 31, 2021 | ​ | 93,465 | ​ |  | 2.00 |  | 0.3 | ​ | $ | —
2013 Equity Incentive 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 | ​ | 5,753,211 | ​ | $ | 8.93 | ​ | 6.6 | ​ | ​ | ​
Options granted | ​ | 898,100 | ​ | ​ | 3.70 | ​ | ​ | ​ | ​ | ​
Options exercised | ​ | — | ​ | ​ | — | ​ | ​ | ​ | ​ | ​
Options forfeited | ​ | (995,854) | ​ | ​ | 7.89 | ​ | ​ | ​ | ​ | ​
Outstanding as of December 31, 2021 | ​ | 5,655,457 | ​ | ​ | 8.30 | ​ | 6.0 | ​ | $ | —
Vested or expected to vest as of December 31, 2021 | ​ | 5,655,457 | ​ | ​ | 8.30 | ​ | 6.0 | ​ | ​ | —
Exercisable as of December 31, 2021 | ​ | 4,118,394 | ​ | ​ | 9.43 | ​ | 5.1 | ​ | ​ | —
Summary of RSU Activity | The following is a summary of RSU activity for the 2013 Plan for the year ended December 31, 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 | ​ | (101,754) | ​ |  | 3.84 | ​
Vested | ​ | (189,792) | ​ |  | 4.53 | ​
Unvested at December 31, 2021 | ​ | 345,600 | ​ |  | 3.70 | ​
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 | ​ | 1,747,600 | ​ | ​ | 2.02 | ​ | ​ | ​ | ​ | ​
Options exercised | ​ | (10,092) | ​ | ​ | 2.06 | ​ | ​ | ​ | ​ | ​
Options forfeited | ​ | (24,508) | ​ | ​ | 2.06 | ​ | ​ | ​ | ​ | ​
Outstanding as of December 31, 2021 | ​ | 1,813,600 | ​ | ​ | 2.08 | ​ | 9.6 | ​ | $ | —
Vested or expected to vest as of December 31, 2021 | ​ | 1,264,400 | ​ | ​ | 2.10 | ​ | 9.6 | ​ | ​ | —
Exercisable as of December 31, 2021 | ​ | 22,879 | ​ | ​ | 3.58 | ​ | 8.6 | ​ | ​ | —

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