Quarterly report pursuant to Section 13 or 15(d)

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

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5. STOCKHOLDERS’ EQUITY (DEFICIT) (Tables)
 9 Months Ended
Sep. 30, 2017
Equity [Abstract]  
Schedule of assumptions
    Nine Months Ended   Nine Months Ended
    September 30, 2017   September 30, 2016
         
Expected term     5.8 - 6.3 years       5.8 - 6.3 years  
Volatility     58-64%       51-52%  
Dividend yield     0.0       0.0  
Risk-free interest rate     1.60-2.29%       1.54-1.79%  
Schedule of stock option activity
    Nine Months Ended
    September 30, 2017
    Shares   Weighted Average Exercise Price
         
Outstanding at beginning of period     1,535,187     $ 7.90  
                 
Forfeited     (87,324 )   $ 8.03  
Expired     (13,727 )   $ 8.60  
Granted     1,942,595     $ 3.76  
Exercised     (93,939 )   $ 2.68  
Outstanding at end of period and expected to vest     3,282,792     $ 5.59  
                 
Options exercisable     1,275,001     $ 7.88  
Stock-based compensation expense
    Three Months Ended   Nine Months Ended
    September 30,   September 30,
    2017   2016   2017   2016
                 
Research and development   $ 141,405     $ 95,076     $ 262,822     $ 383,909  
Plasma centers     10,341       15,289       36,288       40,044  
Selling, general and administrative     331,946       152,598       726,062       572,135  
Cost of goods sold     22,038       —         27,798       —    
                                 
Total stock-based compensation expense   $ 505,730     $ 262,963     $ 1,052,970     $ 996,088