Quarterly report [Sections 13 or 15(d)]

STOCK-BASED COMPENSATION (Tables)

v3.25.2
STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 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     2025     2024  
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2025     2024     2025     2024  
                         
Research and development   $ (8,334 )   $ 35,345     $ 12,916     $ 57,227  
General and administrative     219,941       251,949       525,307       512,680  
Total stock-based compensation expense   $ 211,607     $ 287,294     $ 538,223     $ 569,907  
SUMMARY OF OPTION ACTIVITY

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

 

SUMMARY OF OPTION ACTIVITY

    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 June 30, 2025     304,125     $ 6.95       3.90        
                                 
Vested and exercisable at June 30, 2025     304,125     $ 6.95       3.90        
SUMMARY OF RESTRICTED STOCK AWARD

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

 

SUMMARY OF RESTRICTED STOCK AWARD

    Number of                 As of June 30, 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       1,215,592       171,671  
Granted     258,398       0.81       208,559       121,408       136,990  
Forfeited     (25,721 )     0.81       (20,834 )           (25,721 )
Balance at June 30, 2025     1,559,538     $ 1.81     $ 2,823,984       1,139,496       282,940