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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2021
Share-based Payment Arrangement [Abstract] |
Summary of Stock Option Awards and Restricted Stock Grants | A summary of stock option awards and restricted stock grants for the nine-months ended September 30, 2021 is presented below: 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 |  |  | 2,171,250 |  |  | $ | 2.17 |  |  |  | 9,000 |  |  | $ | 1.29 |  |  |  |  |
Equity awards exercised or vested and issued |  |  | (7,500 | ) |  | $ | 0.63 |  |  |  | - |  |  | $ | - |  |  |  |  |
Equity awards forfeited, cancelled or expired |  |  | (185,770 | ) |  | $ | 2.59 |  |  |  | (1,000 | ) |  | $ | 2.22 |  |  |  |  |
Equity awards outstanding at September 30, 2021 |  |  | 6,602,705 |  |  | $ | 2.58 |  |  |  | 10,750 |  |  | $ | 1.33 |  |  |  | 7.8 |
Aggregate intrinsic value of outstanding equity awards at September 30, 2021 |  | $ | 2,538 |  |  |  |  |  |  | $ | 12,383 |  |  |  |  |  |  |  |  |
Equity awards exercisable at September 30, 2021 |  |  | 4,291,685 |  |  | $ | 2.73 |  |  |  |  |  |  |  |  |  |  |  | 7.2 |
Aggregate intrinsic value of equity awards exercisable at September 30, 2021 |  | $ | - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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: Schedule of Assumptions Used to Determine Fair Value of Options Granted
|  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |
Risk-free interest rate |  |  | 1.54 to 1.74 | % |  |  | 0.66 to 1.33 | %
Expected volatility |  |  | 106.8 to 113.2 | % |  |  | 100.4 to 104.8 | %
Expected life (in years) |  |  | 7.5 to 10.0 |  |  |  | 8.0 to 10.0 |
Expected dividend yield |  |  | - | % |  |  | - | %

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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