Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS EQUITY (Tables)

v3.22.1
STOCKHOLDERS EQUITY (Tables)
12 Months Ended
Dec. 31, 2021
STOCKHOLDERS' EQUITY [Abstract]  
Schedule of Assumptions

The grant date fair values of stock options awarded during the years ended December 31, 2021 and 2020 were determined using the Black-Scholes option-pricing model with the following assumptions:

 

 

 

Years Ended

 

 

 

December 31,

2021

   

December 31,

2020

 

Expected term

 

5.5-6.3 years

   

5.5-6.3 years

 

Volatility

   

68-70

%

   

62-70

%

Dividend yield

    0.0
      0.0
 

Risk-free interest rate

   

0.80-1.27

%

   

0.33-1.68

%

Schedule of Option Activity The following table summarizes information about stock options outstanding as of December 31, 2021 and 2020:

   

 

 

Shares

   

Weighted

Average

Exercise Price

 

Options outstanding, vested and expected to vest at December 31, 2019

    5,630,351     $ 4.76  

Forfeited

    (141,724 )   $ 3.81  

Expired

    (27,482 )   $ 4.26  

Granted

    1,468,412     $ 2.93  

Exercised

    (6,626 )   $ 2.03  

Options outstanding, vested and expected to vest at December 31, 2020

    6,922,931     $ 4.40  

Forfeited

    (529,202 )   $ 2.89  

Expired

    (426,557 )   $ 4.91  

Granted

    1,895,550     $ 2.14  

Exercised

    -  
-  

Options outstanding, vested and expected to vest at December 31, 2021

    7,862,722     $ 3.93  

 

               

Options exercisable

    5,521,312
    $ 4.54  
Summary of Outstanding and Exercisable Options by Price Range The following table summarizes additional information regarding outstanding and exercisable options under the stock option plans at December 31, 2021:

 

 

 

 

Stock Options Outstanding

 

 

Stock Options Exercisable

 

Range of

Exercise Prices

 

 

Options Outstanding

 

 

Weighted

Average

Remaining

Contractual

Life (Years)

 

 

Weighted Average Exercise Price

 

 

Aggregate Intrinsic Value

 

 

Options Outstanding

 

 

Weighted

Average

Remaining

Contractual

Life (Years)

 

 

Weighted Average Exercise Price

 

 

Aggregate Intrinsic Value

 

$1.10 - $1.67

 

 

 

352,500

 

 

 

9.6

 

 

$ 1.10

 

 

$ 35,935

 

 

 

15,583

 

 

 

9.8

 

 

$ 1.10

 

 

$ 4,831

 

$1.73 - $2.60

 

 

 

1,673,518

 

 

 

8.9

 

 

$ 2.42

 

 

 

-

 

 

 

374,318

 

 

 

8.5

 

 

$ 2.42

 

 

 

-

 

$2.62 - $3.93

 

 

 

4,209,177

 

 

 

5.9

 

 

$ 3.51

 

 

 

-

 

 

 

3,554,848

 

 

 

5.6

 

 

$ 3.51

 

 

 

-

 

$3.98 - $5.97       487,040       5.6     $
5.07       -       442,202       5.4     $
5.07          
$6.02 - $9.03       892,987       1.1     $
7.74       -       886,861       1.0     $
7.74          

$9.37 - $10.80

 

 

 

247,500

 

 

 

2.9

 

 

$ 10.28

 

 

 

-

 

 

 

247,500

 

 

 

2.9

 

 

$ 10.28

 

 

 

-

 

 

 

 

 

7,862,722

 

 

 

6.1

 

 

$ 3.93

 

 

$ 35,935

 

 

 

5,521,312

 

 

 

4.9

 

 

$ 4.54

 

 

$ 4,831

 

Schedule of Unvested RSU Activity A summary of the Company’s unvested RSU activity and related information is as follows:


 

 

Shares

   

Weighted

Average Grant

Date Fair Value

 

Balance at December 31, 2019

    -     $ -  

Granted

    361,000     $ 2.82  

Vested

    (15,000 )   $ 2.92  

Forfeited

    (20,000 )   $ 2.83  
Balance at December 31, 2020     326,000     $ 2.81  
Granted
    4,384,744     $ 1.30  
Vested
    (92,750 )   $ 2.82  
Forfeited
    (132,861 )   $ 2.51  

Balance at December 31, 2021

    4,485,133
    $ 1.34
 
Schedule of Stock-Based Compensation Expense

Total stock-based compensation expense for all awards granted under the Company’s equity incentive plan for the years ended December 31, 2021 and 2020 was as follows:

 

 

 

2021

   

2020

 

Research and development

  $ 153,924     $ 471,146  

Plasma center operating expenses

    60,257       33,464  

Selling, general and administrative

    2,958,008       2,107,577  

Cost of product revenue

    316,064       242,935  

Total stock-based compensation expense

  $ 3,488,253     $ 2,855,122