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Stockholders Equity (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Weighted-Average Fair Value of Options Granted | ​
​ | ​ | ​ | ​ | ​
​ |  | 2022 | ​ | 2021
Expected term |  | 6.25 years | ​ | 6.25 years
Expected volatility |  | 84.54% | ​ | 83.75%
Risk-free interest rate |  | 1.74% | ​ | 0.67%
Expected dividend yield |  | 0% | ​ | 0%
Stock-Based Compensation Expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30, | ​
​ |  | 2022 | ​ | 2021 |  | 2022 | ​ | 2021 |
Research and development expense | ​ | $ | 270,050 | ​ | $ | 609,321 | ​ | $ | 588,875 | ​ | $ | 1,298,294 | ​
General and administrative expense | ​ |  | 693,708 | ​ |  | 952,840 | ​ |  | 1,455,525 | ​ |  | 1,878,052 | ​
Total stock-based compensation expense | ​ | $ | 963,758 | ​ | $ | 1,562,161 | ​ | $ | 2,044,400 | ​ | $ | 3,176,346 | ​
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, 2022 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, 2021 | ​ | 93,465 | ​ | $ | 2.00 |  | 0.3 | ​ | ​ | ​
Options exercised | ​ | — | ​ |  | — | ​ | ​ | ​ | ​ | ​
Options forfeited | ​ | (73,859) | ​ |  | 1.98 | ​ | ​ | ​ | ​ | ​
Outstanding, Vested and Exercisable as of June 30, 2022 | ​ | 19,606 | ​ |  | 2.07 |  | 0.1 | ​ | $ | —
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, 2021 | ​ | 5,655,457 | ​ | $ | 8.30 | ​ | 6.0 | ​ | ​ | ​
Options granted | ​ | 1,980,800 | ​ | ​ | 1.07 | ​ | ​ | ​ | ​ | ​
Options exercised | ​ | — | ​ | ​ | — | ​ | ​ | ​ | ​ | ​
Options forfeited | ​ | (385,434) | ​ | ​ | 5.43 | ​ | ​ | ​ | ​ | ​
Outstanding as of June 30, 2022 | ​ | 7,250,823 | ​ | ​ | 6.47 | ​ | 6.4 | ​ | $ | —
Vested or expected to vest as of June 30, 2022 | ​ | 7,048,223 | ​ | ​ | 6.63 | ​ | 6.3 | ​ | ​ | —
Exercisable as of June 30, 2022 | ​ | 4,585,123 | ​ | ​ | 8.93 | ​ | 4.8 | ​ | ​ | —
Summary of RSU Activity | ​ The following is a summary of RSU activity under the 2013 Plan for the six months ended June 30, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | Weighted-Average |
​ | ​ | Number of Shares | ​ | Grant Date |
​ | ​ | Underlying RSUs |  | Fair Value |
Unvested at December 31, 2021 | ​ | 345,600 | ​ | $ | 3.70 | ​
Granted | ​ | — | ​ |  | — | ​
Forfeited | ​ | (19,572) | ​ |  | 3.81 | ​
Vested | ​ | (110,050) | ​ |  | 3.45 | ​
Unvested at June 30, 2022 | ​ | 215,978 | ​ |  | 3.81 | ​
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, 2021 | ​ | 1,813,600 | ​ | $ | 2.08 | ​ | 9.6 | ​ | ​ | ​
Options granted | ​ | 335,000 | ​ | ​ | 1.13 | ​ | ​ | ​ | ​ | ​
Options exercised | ​ | — | ​ | ​ | — | ​ | ​ | ​ | ​ | ​
Options forfeited | ​ | (7,116) | ​ | ​ | 3.69 | ​ | ​ | ​ | ​ | ​
Outstanding as of June 30, 2022 | ​ | 2,141,484 | ​ | ​ | 1.92 | ​ | 9.2 | ​ | $ | —
Vested or expected to vest as of June 30, 2022 | ​ | 1,557,284 | ​ | ​ | 1.91 | ​ | 9.2 | ​ | ​ | —
Exercisable as of June 30, 2022 | ​ | 29,501 | ​ | ​ | 3.59 | ​ | 6.7 | ​ | ​ | —

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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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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