Quarterly report pursuant to Section 13 or 15(d)

5. STOCKHOLDERS??? EQUITY (Tables)

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5. STOCKHOLDERS’ EQUITY (Tables)
 3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Schedule of assumptions

    Three Months Ended March 31,
    2018   2017
         
Expected term     6.3 years       5.8 - 6.3 years  
Volatility     57%       64%  
Dividend yield     0.0       0.0  
Risk-free interest rate     2.59%       2.29%  

Schedule of stock option activity

    Three Months Ended
    March 31, 2018
    Shares  

Weighted

Average 

Exercise Price
         
Outstanding at beginning of period     3,276,043     $ 5.52  
Forfeited     (12,500 )   $ 3.58  
Expired     (2,334 )   $ 2.68  
Granted     868,700     $ 3.72  
Exercised     (1,959 )   $ 2.68  
Outstanding at end of period and expected to vest     4,127,950     $ 5.15  
                 
Options exercisable     1,452,273     $ 7.51  

Stock-based compensation expense

    Three Months Ended
    March 31,
    2018   2017
         
Research and development   $ 78,305     $ 52,983  
Plasma centers     7,086       12,751  
Selling, general and administrative     394,858       170,143  
Cost of product revenue     34,535       —  
                 
Total stock-based compensation expense   $ 514,784     $ 235,877