Quarterly report pursuant to Section 13 or 15(d)

5. STOCKHOLDERS??? EQUITY (DEFICIT) (Tables)

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5. STOCKHOLDERS’ EQUITY (DEFICIT) (Tables)
 6 Months Ended
Jun. 30, 2017
Equity [Abstract]  
Schedule of assumptions
    Six Months Ended   Six Months Ended
    June 30, 2017   June 30, 2016
         
Expected term     5.8 - 6.3 years       5.8 - 6.3 years  
Volatility     51-64%       51-52%  
Dividend yield     0.0       0.0  
Risk-free interest rate     1.77-2.29%       1.54-1.79%  
Schedule of stock option activity
    Six Months Ended
    June 30, 2017
    Shares   Weighted Average Exercise Price
         
Outstanding at beginning of period     1,535,187     $ 7.90  
                 
Forfeited     (62,836 )   $ 9.12  
Expired     (7,686 )   $ 8.92  
Granted     1,856,595     $ 3.79  
                 
Outstanding at end of period and expected to vest     3,321,260     $ 5.58  
                 
Options exercisable     1,277,674     $ 7.66  
Stock-based compensation expense
    Three Months Ended   Six Months Ended
    June 30,   June 30,
    2017   2016   2017   2016
                 
Research and development   $ 68,434     $ 132,277     $ 121,417     $ 288,833  
Plasma centers     13,196       11,745       25,947       24,755  
General and administrative     223,973       166,923       394,116       419,537  
Cost of goods sold     5,760       —         5,760       —    
                                 
Total stock-based compensation expense   $ 311,363     $ 310,945     $ 547,240     $ 733,125