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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

Summary of Stock Option Awards and Restricted Stock Grants

		Stock Options								Restricted Stock Awards								Weighted Average
		Options Outstanding				Weighted Average Exercise Price				Non-vested Restricted Stock Outstanding				Weighted Average Grant Date Fair Value				Contractual Terms of Equity Awards (in years)
Equity awards outstanding at January 1, 2021			4,624,725			$	2.77				2,750			$	0.89

Equity awards granted			2,154,000			$	2.18				7,000			$	1.38

Equity awards exercised or vested and issued			(7,500	)		$	0.63				-			$	-

Equity awards forfeited, cancelled or expired			(92,646	)		$	2.69				-			$	-

Equity awards outstanding at June 30, 2021			6,678,579			$	2.58				9,750			$	1.27				8.0

Aggregate intrinsic value of outstanding equity awards at June 30, 2021		$	12,145							$	12,383

Equity awards exercisable at June 30, 2021			4,329,286			$	2.73												7.8

Aggregate intrinsic value of equity awards exercisable at June 30, 2021		$	1,650

Schedule of Assumptions Used to Determine Fair Value of Options Granted

The fair values of stock options granted were estimated at the date of grant using the Black-Scholes option pricing model. The Black-Scholes model was originally developed for use in estimating the fair value of traded options, which have different characteristics from Celsion’s stock options. The model is also sensitive to changes in assumptions, which can materially affect the fair value estimate. The Company used the following assumptions for determining the fair value of options granted under the Black-Scholes option pricing model:

Six Months Ended June 30,

2021 2020

Risk-free interest rate 1.56 to 1.74 % 0.71 to 1.33 %

Expected volatility 106.8 to 113.0 % 100.4 to 104.2 %

Expected life (in years) 7.5 to 10.0 8.5 to 10.0

Expected dividend yield - % - %