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STOCK-BASED COMPENSATION (Tables)
3 Months Ended
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