Quarterly report [Sections 13 or 15(d)]

STOCK-BASED COMPENSATION (Tables)

v3.25.1
STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
SUMMARY OF STOCK-BASED COMPENSATION EXPENSE RECOGNIZED FOR STOCK OPTION AWARDS

The Company has recorded stock-based compensation expense related to the issuance of restricted stock awards in the following line items in the accompanying condensed consolidated statements of operations:

 

    2025     2024  
    Three Months Ended
March 31,
 
    2025     2024  
             
Research and development   $ 21,250     $ 21,882  
General and administrative     305,366       260,731  
Total stock-based compensation expense   $ 326,616     $ 282,613  
SUMMARY OF OPTION ACTIVITY

The following table summarizes stock option activity under the 2014 Plan and 2024 Plan:

 

    Number of
options
    Weighted-average
exercise price
    Weighted-average
remaining contractual
term (in years)
    Aggregate
intrinsic value
 
Outstanding at December 31, 2024     304,125     $ 6.95       4.45        
Granted                        
Exercised                        
Forfeited                        
Outstanding at March 31, 2025     304,125     $ 6.95       4.20        
                                 
Vested and exercisable at March 31, 2025     304,125     $ 6.95       4.20        
SUMMARY OF RESTRICTED STOCK AWARD

The following table summarizes restricted stock award activity under the 2014 Plan and 2024 Plan:

 

      Number of                 As of March 31, 2025  
      restricted
stock awards
(RSA)
    Weighted-
average
grant price
    FMV on
grant date
    Vested
number
of RSA
    Unvested
number
of RSA
 
Balance at December 31, 2024       1,326,861     $ 1.99     $ 2,636,259       1,072,838       254,023  
Granted       253,398       0.84       212,875       66,658       186,740  
Forfeited       (10,289 )     0.81       (8,334 )           (10,289 )
Balance at March 31, 2025       1,569,970     $ 2.24     $ 2,840,800       1,139,496       430,474