v3.20.1

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity

The following table summarizes the stock option activity during the three months ended March 31, 2020:

		Stock Option Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (in Years)				Aggregate Intrinsic Value
Outstanding, January 1, 2020			5,335,850			$	2.60				6.23			$	2,866
Granted			702,000				0.52
Exercised			—				—
Expired/cancelled			(1,265,890	)			4.27
Outstanding, March 31, 2020			4,771,960			$	1.85				7.21			$	20,920
Expected to vest, March 31, 2020			2,897,757			$	1.51				9.08			$	20,920
Options exercisable, March 31, 2020			1,874,203			$	2.39				4.31				—

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:

		Three Months Ended March 31,
		2020				2019
Research and development		$	131,678			$	159,331
General and administrative			195,789				462,354
Total		$	327,467			$	621,685

Stock Options Valuation Assumptions

The calculation was based on the following assumptions.

		Three Months Ended March 31,
		2020				2019
Expected term (years)			6.08				5.70
Risk-free interest rate		0.59%				2.49%
Expected volatility		67.33%				65.62%
Expected dividend yield		0%				0%

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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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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.

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