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Subsequent Events
6 Months Ended
Jun. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events

Note 16: Subsequent Events

 

On August 6, 2020, AIM contracted Amarex Clinical Research LLC (“Amarex”) to act as the Company’s Clinical Research Organization and provide regulatory support with regard to a clinical trial testing Ampligen’s potential as a COVID-19 prophylaxis via intranasal delivery. For Phase I the Company anticipates providing approximately $514,000 to Amarex. For the subsequent Phase II the Company anticipates providing approximately an additional $650,000. Additional costs expected to be incurred by us for the clinical trial are estimated at $4.5 million. It is anticipated that Phase I will consist of 24 test subjects and that Phase II will consist of 150 test subjects, subject to obtaining IND authorization from the FDA.

 

On August 12, 2020, the Company granted to Thomas K. Equels, Chief Executive Officer, consistent with his employment agreement, 300,000 ten-year options to purchase common stock with an exercise price of $3.07 per share which vest in one year. The Company also granted to Dr. William Mitchell and Stewart Appelrouth, as compensation for their services as members of committees of the board of directors, each 50,000 ten-year options to purchase common stock with an exercise price of $2.77 per share which vest in one year.