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Stockholders Equity (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Weighted-Average Fair Value of Options Granted | ​
​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30,
​ |  | 2023 | ​ | 2022
Expected term |  | 6.25 years | ​ | 6.25 years
Expected volatility |  | 81.26% | ​ | 84.54%
Risk-free interest rate |  | 3.54% | ​ | 1.74%
Expected dividend yield |  | 0% | ​ | 0%
Stock-Based Compensation Expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30, | ​
​ |  | 2023 | ​ | 2022 |  | 2023 | ​ | 2022 |
Research and development expense | ​ | $ | 229,422 | ​ | $ | 270,050 | ​ | $ | 467,353 | ​ | $ | 588,875 | ​
General and administrative expense | ​ |  | 628,666 | ​ |  | 693,708 | ​ |  | 1,260,915 | ​ |  | 1,455,525 | ​
Total stock-based compensation expense | ​ | $ | 858,088 | ​ | $ | 963,758 | ​ | $ | 1,728,268 | ​ | $ | 2,044,400 | ​
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, 2022 | ​ | 6,774,792 | ​ | $ | 6.37 | ​ | 6.1 | ​ | ​ | ​
Options granted | ​ | 2,451,050 | ​ | ​ | 2.55 | ​ | ​ | ​ | ​ | ​
Options exercised | ​ | (44,550) | ​ | ​ | 1.21 | ​ | ​ | ​ | ​ | ​
Options forfeited | ​ | (409,085) | ​ | ​ | 2.97 | ​ | ​ | ​ | ​ | ​
Outstanding as of June 30, 2023 | ​ | 8,772,207 | ​ | ​ | 5.49 | ​ | 6.3 | ​ | $ | 1,037
Vested or expected to vest as of June 30, 2023 | ​ | 8,630,307 | ​ | ​ | 5.56 | ​ | 6.3 | ​ | ​ | 948
Exercisable as of June 30, 2023 | ​ | 5,155,455 | ​ | ​ | 7.72 | ​ | 4.4 | ​ | ​ | 430
Summary of RSU Activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | Weighted-Average |
​ | ​ | Number of Shares | ​ | Grant Date |
​ | ​ | Underlying RSUs |  | Fair Value |
Unvested at December 31, 2022 | ​ | 204,785 | ​ | $ | 3.81 | ​
Forfeited | ​ | (19,573) | ​ |  | 3.81 | ​
Vested | ​ | (68,055) | ​ |  | 3.81 | ​
Unvested at June 30, 2023 | ​ | 117,157 | ​ |  | 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, 2022 | ​ | 2,333,525 | ​ | $ | 1.82 | ​ | 8.7 | ​ | ​ | ​
Options granted | ​ | 250,000 | ​ | ​ | 3.25 | ​ | ​ | ​ | ​ | ​
Options forfeited | ​ | (3,125) | ​ | ​ | 3.58 | ​ | ​ | ​ | ​ | ​
Outstanding as of June 30, 2023 | ​ | 2,580,400 | ​ | ​ | 1.95 | ​ | 8.4 | ​ | $ | 405
Vested or expected to vest as of June 30, 2023 | ​ | 1,996,200 | ​ | ​ | 1.95 | ​ | 8.5 | ​ | ​ | 382
Exercisable as of June 30, 2023 | ​ | 675,671 | ​ | ​ | 1.97 | ​ | 8.1 | ​ | ​ | 59

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