XML 33 R20.htm IDEA: XBRL DOCUMENT v3.23.3
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity for Amended 2014 Plan and Related Information
The table below summarizes stock option activity under the Company's stock incentive plans and related information for the nine months ended September 30, 2023. The exercise price of all options granted during the nine months ended September 30, 2023 was equal to the market value of the Company’s common stock on the date of grant. As of September 30, 2023, unamortized stock-based compensation expense of approximately $4.9 million will be amortized over a weighted average period of 2.27 years. The number of shares of common stock available for future awards granted under the 2022 Plan at September 30, 2023 was 6,725,247.
Number of SharesWeighted Average
Exercise Price
Outstanding at December 31, 20226,612,554 $1.60 
Granted2,857,665 1.13 
Exercised— — 
Cancelled/forfeited(6,331)1.17 
Expired— — 
Outstanding at September 30, 20239,463,888 $1.46 
Exercisable at September 30, 20235,225,163 $1.50 
Summary of Recognized Stock-Based Compensation Expense Related to Stock Options Granted to Employees and Directors
Total stock-based compensation expense related to stock options granted to employees and directors recognized in the condensed consolidated statements of operations is as follows:
Three Months Ended
September 30,
Nine Months Ended
September 30,
 2023202220232022
Research and development$207,081 $168,323 $617,580 $514,875 
General and administrative429,006 388,125 1,293,313 1,111,503 
Total$636,087 $556,448 $1,910,893 $1,626,378