STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2020

STOCK-BASED COMPENSATION

Summary of the Company's stock option activity

				Weighted Average
				Remaining
		Weighted Average		Contractual Life (in
	Number of Shares	Exercise Price		years)	Intrinsic Value
Outstanding as of January 1, 2020	4,983,314	$	7.79	8.9	$	18,000
Granted	1,411,000		2.13	9.4		—
Canceled	(512,500)		9.13	—		—
Outstanding as of September 30, 2020	5,881,814	$	6.31	8.5	$	—
Options vested and exercisable	2,196,946	$	7.41	8.1	$	—

Schedule or Description of Weighted Average Discount Rate

	For the Nine Months Ended
	September 30, 2020
Exercise price	$	2.13
Expected term (years)		6.0
Expected stock price volatility		109	%
Risk-free rate of interest		1	%
Expected dividend rate		0	%

Schedule of stock-based compensation expenses

	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Stock Compensation expenses:
Research and development	$	636,000	$	553,000	$	1,945,000	$	1,844,000
General and administrative		634,000		631,000		2,030,000		2,230,000
Total stock compensation expenses	$	1,270,000	$	1,184,000	$	3,975,000	$	4,074,000