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STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2020
STOCK-BASED COMPENSATION  
Summary of the Company's stock option activity

    

    

    

    

Weighted

Average

Weighted

Remaining

Number of

Average

Total Intrinsic

Contractual

Shares

Exercise Price

Value

Life (in years)

Outstanding as of January 1, 2020

 

4,983,000

$

7.79

$

18,000

 

8.9

Granted

 

1,371,000

 

2.13

 

 

9.7

Cancelled

 

(512,500)

 

9.13

 

 

Outstanding as of June 30, 2020

 

5,841,814

$

6.34

$

14,000

 

8.7

Options vested and exercisable

 

1,793,460

$

7.70

$

 

8.3

Schedule or Description of Weighted Average Discount Rate

    

For the Six Months Ended

 

June 30, 2020

Exercise price

$

2.13

Expected term (years)

 

6.0

Expected stock price volatility

 

109

%

Risk-free rate of interest

 

1

%

Expected dividend rate

 

0

%

Schedule of stock-based compensation expenses

For the Three Months Ended

For the Six Months Ended

    

June 30,

    

June 30,

2020

    

2019

2020

    

2019

Stock Compensation expenses:

Research and development

$

528,000

$

593,000

$

1,309,000

$

1,280,000

General and administrative

 

833,000

 

770,000

 

1,396,000

 

1,609,000

Total stock compensation expenses

$

1,361,000

$

1,363,000

$

2,705,000

$

2,889,000