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STOCK-BASED COMPENSATION (Tables) | 3 Months Ended
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Mar. 31, 2022
STOCK-BASED COMPENSATION |
Summary of the Company's stock option activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ | ​ | ​ | ​ |  | Weighted Average
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Remaining
​ | ​ | ​ | ​ | Weighted Average | ​ | Total Intrinsic | ​ | Contractual
​ |  | Number of Shares |  | Exercise Price |  | Value |  | Life (in years)
Outstanding as of January 1, 2022 |  | 7,686,233 | ​ | $ | 5.47 | ​ | $ | — | ​ | 7.7
Granted |  | 1,820,000 | ​ | ​ | 0.51 | ​ | ​ | — | ​ | 9.8
Canceled/Expired |  | (117,082) | ​ | ​ | 2.60 | ​ | ​ | — | ​ | —
Outstanding as of March 31, 2022 |  | 9,389,151 | ​ | $ | 4.54 | ​ | $ | — | ​ | 7.9
Options vested and exercisable |  | 4,798,325 | ​ | $ | 6.48 | ​ | $ | — | ​ | 7.1
Schedule or Description of Weighted Average Discount Rate | ​
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended | ​
​ |  | March 31, 2022 |
Exercise price | ​ | $ | 0.51 | ​
Expected term (years) | ​ |  | 6.0 | ​
Expected stock price volatility | ​ |  | 84 | %
Risk-free rate of interest | ​ |  | 2 | %
Expected dividend rate | ​ |  | 0 | %
Schedule of stock-based compensation expenses | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the Three Months Ended
​ | ​ | March 31,
​ |  | 2022 |  | 2021
Stock Compensation expenses: |  | ​ |  |  | ​ |
Research and development | ​ | $ | 878,000 | ​ | $ | 696,000
General and administrative | ​ |  | 753,000 | ​ |  | 681,000
Total stock compensation expenses | ​ | $ | 1,631,000 | ​ | $ | 1,377,000

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- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + 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 (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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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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