v3.20.1

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity

The following table summarizes the stock option activity during the years ended December 31, 2019 and 2018:

		Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (in Years)				Aggregate Intrinsic Value
Outstanding, January 1, 2018			1,912,980			$	3.72				8.24			$	2,738,704
Granted			1,615,200				3.64
Exercised			(52,099	)			1.47
Expired/cancelled			(124,949	)			3.23
Outstanding, December 31, 2018			3,351,132			$	3.73				8.24			$	142,788
Expected to vest, December 31, 2018			2,197,619			$	4.17				9.19			$	-
Options exercisable, December 31, 2018			1,153,513			$	2.90				6.37			$	142,788
Outstanding, January 1, 2019			3,351,132			$	3.73				8.24			$	142,788
Granted			4,666,728				1.85
Exercised			—
Expired/cancelled			(2,682,010	)			2.70
Outstanding, December 31, 2019			5,335,850			$	2.60				6.23			$	2,866
Expected to vest, December 31, 2019			2,395,265			$	1.93				9.00			$	2,866
Options exercisable, December 31, 2019			2,940,585			$	3.15				3.98			$	—

Stock Options Valuation Assumptions

The calculation was based on the following assumptions.

		Year Ended December 31,
		2019				2018
Expected term (years)		5.36				6.07
Risk-free interest rate			2.24	%			2.85	%
Expected volatility			64.88	%			65.99	%
Expected dividend yield			—				—

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity and related information for the years ended December 31, 2019 and 2018 is as follows:

		Shares				Weighted Average Grant Date Fair Value
Nonvested, January 1, 2018			91,576			$	2.12
Granted			60,000				4.75
Vested			(149,243	)			3.18
Forfeited			(2,333	)			2.25
Nonvested, December 31, 2018			—			$	—
Nonvested, January 1, 2019			—			$	—
Granted			—				—
Vested			—				—
Forfeited			—				—
Nonvested, December 31, 2019			—			$	—

Summary of Recognized Compensation Cost Related to Employee and Non-employee Stock-Based Compensation Activity

The Company recognized the following compensation cost related to employee and non-employee stock-based compensation activity for the periods presented below.

			Year Ended December 31,
			2019				2018
Research and development			$	510,923			$	392,470
General and administrative				574,919				3,039,392
Total			$	1,085,842			$	3,431,862

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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