Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.24.3
STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2024
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:

 

    2024     2023     2024     2023  
    Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
    2024     2023     2024     2023  
                         
Research and development   $ 30,605     $ 10,304     $ 87,832     $ 32,193  
General and administrative     155,082       74,941       667,762       482,120  
Total stock-based compensation expense   $ 185,687     $ 85,245     $ 755,594     $ 514,313  
SUMMARY OF OPTION ACTIVITY

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

 

    Number of
options
    Weighted-average
exercise price
    Weighted-average
remaining contractual
term (in years)
    Aggregate
intrinsic value
 
Outstanding at December 31, 2023     683,695     $ 3.99       2.9       158,332  
Granted                            
Exercised     (208,031 )     1.16                  
Forfeited     (137,854 )     1.16                  
Outstanding at September 30, 2024     337,810     $ 6.88       5.08        
                                 
Vested and exercisable at September 30, 2024     337,810     $ 6.88       5.08        

SUMMARY OF RESTRICTED STOCK AWARD

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

 

    Number of
restricted stock
awards (RSA)
    Weighted-average
grant price
    FMV on
grant date
    Vested number
of RSA
    Unvested number
of RSA
 
Balance at December 31, 2023     488,611     $ 2.27     $ 1,109,391       448,011       40,600  
Granted     750,224       1.88       1,407,613       362,273       374,682  
Forfeited     (13,269 )     1.57       (20,832 )            
Balance at September 30, 2024     1,225,566     $ 2.04     $ 2,496,172       810,284       415,282