SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Share-Based Compensation Expense

The following table sets forth the amount of share-based compensation expense recognized by the Company by line item on its consolidated statements of income (operations) for the three months ended March 31, 2020 and 2019 (in thousands):

	Three Months ended March 31,
	2020		2019
Research and development	$	79	$	52
General and administrative	328		274
	$	407	$	326

Schedule of Stock Option Activity

The following table sets forth a summary of the Company’s total stock option activity, including awards granted under the 2014 Plan and 2009 Plan and inducement grants made outside of stockholder approved plans, for the three months ended March 31, 2020:

	Number of Shares under Option (in thousands)	Weighted-average Exercise Price per Option	Weighted-average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2019	6,236	$1.52	8.8	$	358
Granted	3,468	$0.89
Exercised	—	$0.00
Canceled or forfeited	—	$0.00
Outstanding at March 31, 2020	9,704	$1.29	9.0	$	—
Exercisable at March 31, 2020	2,284	$2.11	8.0	$	—

Schedule of Weighted-Average Inputs and Assumptions in Black-Scholes Option

For the three months ended March 31, 2020, the grant-date fair value of stock options was determined using the following weighted-average inputs and assumptions in the Black-Scholes option pricing model:

Fair value of common stock	$0.56
Exercise price	$0.89
Expected term (in years)	5.98
Risk-free interest rate	1.5
Expected volatility	71.1
Dividend yield	—%