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Note 6 - Stock-based Compensation Expense

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

6. Stock-Based Compensation Expense

Stock-based compensation expense related to stock options is recognized on a straight-line basis over the requisite service period for the award and is allocated to research and development expense or general and administrative expense based upon the classification of the individual to whom the award is granted. As of June 30, 2022, there is $1,039,762 of unrecognized compensation expense that we expect to recognize over a weighted-average period of 1.9 years.

We also have issued shares of restricted common stock to consultants and recognize the related expense over the terms of the related agreements. As of June 30, 2022, there is $60,000 recorded as a prepaid expense for these arrangements, which will be recognized as expense over the term of the related agreement.

The following table summarizes our total stock-based compensation expense:

		Three Months Ended June 30,								Six Months Ended June 30,
		2022				2021				2022				2021
Stock options:
Research and development		$	54,293			$	21,468			$	108,585			$	42,936
General and administrative			135,898				34,722				271,797				69,444
Total stock option expense			190,191				56,190				380,382				112,380
Stock awards (consultants):
General and administrative			16,987				30,573				31,947				51,173
Total stock-based compensation expense		$	207,178			$	86,763			$	412,329			$	163,553