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Stockholders Equity (Tables)

12 Months Ended

Dec. 31, 2022

Weighted-Average Fair Value of Options Granted

​

​	​	​	​	​	​	​
​		2022	​	2021	​	2020
Expected term		6.25 years	​	6.25 years	​	6.25 years
Expected volatility		84.66%	​	84.19%	​	84.40%
Risk-free interest rate		1.90%	​	0.78%	​	1.41%
Expected dividend yield		0%	​	0%	​	0%

Stock-Based Compensation Expense

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​		​	​		​	​
​			2022			2021			2020
Research and development expense	​	​	$	1,059,591	​	$	2,214,848	​	$	2,946,952
General and administrative expense	​	​		2,797,989	​		3,872,438	​		3,954,806
Total stock-based compensation expense	​	​	$	3,857,580	​	$	6,087,286	​	$	6,901,758

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, 2021	​	93,465	​	$	2.00		0.3	​	​	​
Options forfeited	​	(93,465)	​		2.00	​	​	​	​	​
Outstanding, Vested and Exercisable as of December 31, 2022	​	—	​		—		—	​	$	—

​

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	​	2,020,800	​	​	1.06	​	​	​	​	​
Options forfeited	​	(901,465)	​	​	6.56	​	​	​	​	​
Outstanding as of December 31, 2022	​	6,774,792	​	​	6.37	​	6.1	​	$	3,506
Vested or expected to vest as of December 31, 2022	​	6,585,192	​	​	6.52	​	6.0	​	​	3,142
Exercisable as of December 31, 2022	​	4,449,925	​	​	8.72	​	4.7	​	​	37

​

Summary of RSU Activity

The following is a summary of RSU activity for the 2013 Plan for the year ended December 31, 2022:

​

​	​	​	​	​	​	​
​		​	​	Weighted-Average
​	​	Number of Shares	​	Grant Date
​	​	Underlying RSUs		Fair Value
Unvested at December 31, 2021	​	345,600	​	$	3.70	​
Forfeited	​	(30,765)	​		3.81	​
Vested	​	(110,050)	​		3.45	​
Unvested at December 31, 2022	​	204,785	​		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	​	535,000	​	​	0.98	​	​	​	​	​
Options forfeited	​	(15,075)	​	​	3.67	​	​	​	​	​
Outstanding as of December 31, 2022	​	2,333,525	​	​	1.82	​	8.7	​	$	2,867
Vested or expected to vest as of December 31, 2022	​	1,749,325	​	​	1.76	​	8.8	​	​	2,249
Exercisable as of December 31, 2022	​	425,104	​	​	2.13	​	8.5	​	​	402

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