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STOCK OPTION PLANS (Tables)
12 Months Ended
Dec. 31, 2022
STOCK OPTION PLANS  
Summary of the company's stock option activity

    

    

    

Weighted Average

Remaining

Weighted Average 

Contractual

    

Number of Shares

    

Exercise Price

    

Total Intrinsic Value

    

Life (in years)

Outstanding as of January 1, 2021

 

600,181

$

62.18

$

8.3

Granted

 

191,500

28.97

8.9

Exercised

(146)

21.20

Canceled/Expired

 

(22,912)

35.92

Outstanding as of December 31, 2021

 

768,623

54.69

7.7

Granted

 

260,000

 

4.68

 

7.8

Canceled/Expired

 

(142,450)

 

36.78

 

Outstanding as of December 31, 2022

 

886,173

$

42.90

$

7.3

Options vested and exercisable

 

560,929

$

59.39

$

6.6

Schedule or description of weighted average discount rate

For the Years Ended

December 31, 

    

2022

    

2021

Exercise price

$

4.70

$

29.00

Expected term (years)

 

5.9

 

6.0

Expected stock price volatility

 

85

%  

 

94

%

Risk-free rate of interest

 

2

%  

 

1

%

Expected dividend rate

 

0

%  

 

0

%

Schedule of stock-based compensation expenses

    

For the Years Ended

December 31, 

    

2022

    

2021

Stock Compensation expenses:

 

  

 

  

Research and development

$

2,691,000

$

2,856,000

General and administrative

 

2,653,000

 

3,108,000

Total stock compensation expenses

$

5,344,000

$

5,964,000