Annual report pursuant to Section 13 and 15(d)

Stock-based Compensation (Tables)

v3.22.0.1
Stock-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Recognized Stock-Based Compensation

The Company recognized stock-based compensation expense (options and restricted share grants) in its consolidated statements of operations as follows (in thousands):

 

 

    Year Ended December 31,  
    2021     2020  
Research and Development   $ 1,870     $ 1,897  
General and Administrative     2,422       2,668  
Total   $ 4,292     $ 4,565  
Schedule of Equity Compensation Plan by Arrangements

The following table contains information about the Company’s stock plan at December 31, 2020:

 

Schedule of Equity Compensation Plan by Arrangements 

    Awards Reserved for Issuance     Awards Issued & Exercised     Awards Available for Grant  
2013 Equity Compensation Plan (in thousands)     36,952 *     32,669 **     4,283  

 

* Increased by 8,005 thousand on January 1, 2021, representing 4% of the total number of shares of common stock outstanding on December 31, 2020.
** Includes both stock grants and option grants

Schedule of Stock Option Activity

The following table summarizes the Company’ stock option activity and related information for the period from January 1, 2020 to December 31, 2021 (options in thousands):

 

 

    Number of Options     Weighted Average Exercise Price     Weighted Average Contractual Term in Years  
Outstanding at December 31, 2019     17,529     $ 1.11       6.2  
Granted     6,501     $ 1.59          
Exercised     (826 )     0.74          
Forfeited     (72 )   $ 1.11          
Cancelled     -       -          
Expired     (581 )   $ 1.25          
Outstanding at December 31, 2020     22,551     $ 1.26       6.9  
                         
Granted     10,976     $ 1.11          
Exercised     (1,077 )   $ 0.60          
Forfeited     (2,824 )   $ 1.08          
Cancelled     -       -          
Expired     (1,441 )   $ 1.98          
Outstanding at December 31, 2021     28,184     $ 1.21       7.2  
Summary of Outstanding Options

The following table summarizes outstanding options at December 31, 2021, by their exercise price (options in thousands):

 

Range of Exercise Prices   Number Outstanding     Weighted Average Exercise Price Per Share  
$0.41 - $0.69     1,935     $ 0.49  
$0.74 - $1.12     15,940     $ 0.93  
$1.24 - $1.61     6,525     $ 1.35  
$2.27 - $3.32     3,784     $ 2.50  
      28,184     $ 1.21  
Schedule of Stock Option Awards and Restricted Stock Awards

 

    For the Year Ended December 31,  
    2021     2020  
Volatility   98.4% -101.6 %   100.5% - 107.4 %
Risk-free interest rate     0.47% - 1.28 %     0.34% - 1.74 %
Dividend yield     0.0 %     0.0 %
Expected life     6.0 years       6.0 years