Quarterly report pursuant to Section 13 or 15(d)

Stock-based compensation (Tables)

v3.8.0.1
Stock-based compensation (Tables)
 9 Months Ended
Sep. 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 September 30,      Nine months ended September 30,  
     2017      2016      2017        2016  

Research and Development

    $ 216,328      $ 142,254      $ 573,758        $ 444,193  

General and administrative

      433,620        303,859        1,388,260          982,148  
  

 

 

     

 

 

     

 

 

       

 

 

  

Total stock-based compensation expense

    $ 649,948      $ 446,113      $ 1,962,018        $ 1,426,341  
  

 

 

     

 

 

     

 

 

       

 

 

  
Schedule of Fair Value Assumptions

The weighted-average fair value of the options granted was $1.05 and $1.01 for the three months ended September 30, 2016 and the nine months ended September 30, 2016.

The calculation was based on the following assumptions:

 

     Three months ended September 30,    Nine months ended September 30,
    

2017

   

2016

   

2017

   

2016

Dividend yield

    0.0%    0.0%    0.0%    0.0%

Expected volatility

    77.34% - 78.89%    74.90% - 75.12%    75.09% - 78.89%    74.90% - 76.00%

Weighted average risk-free interest rate

    1.77% - 2.02%    1.25% - 1.35%    1.77% - 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