Quarterly report pursuant to Section 13 or 15(d)

Stock-based compensation (Tables)

v3.7.0.1
Stock-based compensation (Tables)
 6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock-Based Compensation Expense

Total stock-based compensation expense was recorded to operating expenses based upon the functional responsibilities of the individuals holding the respective options as follows:

 

     Three months ended June 30,      Six months ended June 30,  
     2017      2016      2017      2016  

Research and Development

    $ 190,819      $ 175,498      $ 357,430      $ 301,939  

General and administrative

      369,059        436,347        954,640        678,290  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total stock-based compensation expense

    $ 559,878      $ 611,845      $ 1,312,070      $ 980,229  
  

 

 

     

 

 

     

 

 

     

 

 
Schedule of Fair Value Assumptions

The weighted-average fair value of the options granted was $1.09 and $1.01 for the three months ended June 30, 2016 and the six months ended June 30, 2016.

The calculation was based on the following assumptions:

 

     Three months ended June 30,     Six months ended June 30,  
     2017     2016     2017     2016  

Dividend yield

      0.0 %      0.0 %      0.0 %      0.0 % 

Expected volatility

      75.13% - 78.89 %      75.12% - 75.53 %      75.09% - 78.89 %      75.12% - 76.00 % 

Weighted average risk-free interest rate

      1.87% - 1.99 %      1.13% - 1.49 %      1.87% - 2.16 %      1.13% - 1.61 % 

Expected term

      5.0 - 5.7 years       5.0 - 5.7 years       5.0 - 5.7 years       5.0 - 5.7 years