Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.22.1
Stock-Based Compensation
3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation
7.
Stock-Based Compensation

2020 Equity Incentive Plan

The Company’s 2020 Plan was established for granting stock incentive awards to directors, officers, employees and consultants to the Company.

 

Stock Options

During the three months ended March 31, 2022, the Company granted 209,887 options with a weighted average strike price of $1.08 to purchase common stock to certain employees that will vest annually in 3 equal parts over 3 years, with an aggregate grant date fair value of $145,340.

During the three months ended March 31, 2021, the Company granted 68,628 options to purchase common stock to its scientific advisory board members with a strike price of $6.82 per share, vesting immediately, with an aggregate grant date fair value of $259,674.

 

Stock-Based Compensation Expense

The following table summarizes the stock-based compensation expense for stock options granted to employees and non-employees:

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Research and development

 

$

28,820

 

 

$

368,495

 

Selling, general and administrative

 

 

94,409

 

 

 

222,629

 

Total stock-based compensation expense

 

$

123,229

 

 

$

591,124