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Subsequent Events | 12 Months Ended
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Dec. 31, 2019
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events For purpose of disclosure in the consolidated financial statements, the Company has evaluated subsequent events through March 30, 2020, the date the consolidated financial statements were available to be issued. Except as discussed below, management is not aware of any material events that have occurred subsequent to the balance sheet date that would require adjustment to, or disclosure in the accompanying financial statements. Our Research Contract with VTT During the first quarter of 2020, we expanded our research contract with VTT Technical Research Centre of Finland Ltd. to pay an additional EUR €700,000 over the next 19 months to accelerate the glycoengineering work. Stock Option Grant On January 2, 2020, the Company granted to executives and key personnel an aggregate of 525,000 stock options with an exercise price of $5.27. The options will vest upon one-year anniversary or annually in equal installments over four years. On January 2, 2020, the Company granted to the Board an aggregate of 325,000 stock options with an exercise price of $5.27. The options will vest upon one-year anniversary. On January 2, 2020, the Company granted to non-executive employees an aggregate of 23,000 stock options with an exercise price of $5.27. The options will vest annually in equal installments over four years. On January 2, 2020, the Company granted 15,000 stock options to a consultant with an exercise price of $5.27. The options will vest upon one-year anniversary. On March 23, 2020, the Company granted 25,000 stock options to a consultant with an exercise price of $3.99. The options will vest six months from the date of grant. In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic, which continues to spread throughout the United States. As of the date of issuance of the financial statements, the Company’s operations have not been significantly impacted, however, the Company continues to monitor the situation.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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