8. STOCKHOLDERS' EQUITY (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| STOCKHOLDERS' EQUITY |
|
| Schedule of assumptions |
| |
|
Years Ended |
| |
|
December 31, 2019 |
|
December 31, 2018 |
| Expected term |
|
|
5.8-6.3 years |
|
|
|
5.8-6.3 years |
|
| Volatility |
|
|
54-63% |
|
|
|
54-57 |
% |
| Dividend yield |
|
|
0.0 |
|
|
|
0.0 |
|
| Risk-free interest rate |
|
|
1.36-2.92% |
|
|
|
2.40-3.11% |
|
|
| Schedule of stock option activity |
| |
|
Shares |
|
Weighted Average Exercise Price |
| Options outstanding, vested and expected to vest at December 31, 2017 |
|
|
3,276,043 |
|
|
$ |
5.52 |
|
| Forfeited |
|
|
(60,854 |
) |
|
$ |
4.09 |
|
| Expired |
|
|
(34,489 |
) |
|
$ |
8.38 |
|
| Granted |
|
|
1,167,044 |
|
|
$ |
4.15 |
|
| Exercised |
|
|
(5,513 |
) |
|
$ |
3.31 |
|
| Options outstanding, vested and expected to vest at December 31, 2018 |
|
|
4,342,231 |
|
|
$ |
5.16 |
|
| Forfeited |
|
|
(169,993 |
) |
|
$ |
3.97 |
|
| Expired |
|
|
(19,983 |
) |
|
$ |
4.60 |
|
| Granted |
|
|
1,508,000 |
|
|
$ |
3.49 |
|
| Exercised |
|
|
(29,904 |
) |
|
$ |
2.84 |
|
| Options outstanding, vested and expected to vest at December 31, 2019 |
|
|
5,630,351 |
|
|
$ |
4.76 |
|
| |
|
|
|
|
|
|
|
|
| Options exercisable |
|
|
3,250,593 |
|
|
$ |
5.57 |
|
|
| Summary of outstanding and exercisable options by price range |
| |
|
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 |
| $1.34 - $2.06 |
|
5,168 |
|
1.1 |
|
$ 1.41 |
|
$ 13,387 |
|
4,928 |
|
0.8 |
|
$ 1.40 |
|
$ 12,921 |
| $2.62 - $3.98 |
|
3,827,577 |
|
8.2 |
|
$ 3.58 |
|
1,603,478 |
|
1,678,942 |
|
7.7 |
|
$ 3.68 |
|
540,127 |
| $4.03 - $6.26 |
|
564,503 |
|
7.8 |
|
$ 5.09 |
|
— |
|
360,048 |
|
7.3 |
|
$ 5.19 |
|
— |
| $6.28 - $10.80 |
|
1,233,103 |
|
3.6 |
|
$ 8.28 |
|
— |
|
1,206,675 |
|
3.5 |
|
$ 8.32 |
|
— |
| |
|
5,630,351 |
|
7.1 |
|
$ 4.76 |
|
$ 1,616,865 |
|
3,250,593 |
|
6.1 |
|
$ 5.57 |
|
$ 553,048 |
|
| Stock-based compensation expense |
| |
|
2019 |
|
2018 |
| Research and development |
|
$ |
360,569 |
|
|
$ |
292,736 |
|
| Plasma center operating expenses |
|
|
51,340 |
|
|
|
34,797 |
|
| Selling, general and administrative |
|
|
2,047,025 |
|
|
|
1,739,037 |
|
| Cost of product revenue |
|
|
191,843 |
|
|
|
156,718 |
|
| Total stock-based compensation expense |
|
$ |
2,650,777 |
|
|
$ |
2,223,288 |
|
|