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Stockholders Equity (Tables)

6 Months Ended

Jun. 30, 2023

Weighted-Average Fair Value of Options Granted

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​	​	​	​	​
​	​	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

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Three Months Ended June 30,

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Six Months Ended June 30,

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​

2023

​

2022

2023

​

2022

Research and development expense

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$

229,422

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$

270,050

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$

467,353

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$

588,875

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General and administrative expense

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628,666

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693,708

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1,260,915

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1,455,525

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Total stock-based compensation expense

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$

858,088

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$

963,758

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$

1,728,268

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$

2,044,400

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2013 Equity Incentive Plan

Company's Stock Option Activity

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​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	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

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​	​	​	​	​	​	​
​		​	​	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

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​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	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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