STOCKHOLDERS EQUITY (Tables)
|
9 Months Ended |
Sep. 30, 2021 |
|---|
| STOCKHOLDERS' EQUITY [Abstract] |
|
| Schedule of Assumptions |
The following assumptions were used to determine the fair value of options granted during the nine months ended September 30, 2021 and 2020:
| |
|
Nine Months Ended September 30,
|
|
| |
|
2021
|
|
|
2020
|
|
|
Expected term
|
|
5.5 - 6.3 years
|
|
|
5.5 - 6.3 years
|
|
|
Volatility
|
|
|
69
|
%
|
|
|
62-69
|
%
|
|
Dividend yield
|
|
|
0.0
|
|
|
|
0.0
|
|
|
Risk-free interest rate
|
|
|
0.80-1.14
|
%
|
|
|
0.33-1.68
|
%
|
|
| Schedule of Option Activity |
A summary of the Company’s option activity under the 2007 Plan and 2014 Plan and related information is as follows:
| |
|
Shares
|
|
|
Weighted
Average
Exercise Price
|
|
|
Options outstanding, vested and expected to vest at December 31, 2020
|
|
|
6,922,931
|
|
|
$
|
4.40
|
|
|
Forfeited
|
|
|
(433,492
|
)
|
|
$
|
2.96
|
|
|
Expired
|
|
|
(414,867
|
)
|
|
$
|
4.96
|
|
|
Granted
|
|
|
1,757,050
|
|
|
$
|
2.22
|
|
|
Exercised
|
|
|
-
|
|
|
$
|
-
|
|
|
Options outstanding, vested and expected to vest at September 30, 2021
|
|
|
7,831,622
|
|
|
$
|
3.96
|
|
| |
|
|
|
|
|
|
|
|
|
Options exercisable
|
|
|
5,261,720
|
|
|
$
|
4.62
|
|
|
| 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, 2020
|
|
|
326,000
|
|
|
$
|
2.81
|
|
|
Granted
|
|
|
4,332,244
|
|
|
$
|
1.30
|
|
|
Vested
|
|
|
(92,750
|
)
|
|
$
|
2.82
|
|
|
Forfeited
|
|
|
(96,361
|
)
|
|
$
|
2.53
|
|
|
Balance at September 30, 2021
|
|
|
4,469,133
|
|
|
$
|
1.35
|
|
|
| Schedule of Stock-Based Compensation Expense |
Total stock-based compensation expense for all awards granted under the Company’s equity incentive plans for the three
months and nine months ended September 30, 2021 and 2020 is as follows:
| |
|
Three Months Ended September 30,
|
|
|
Nine Months Ended September 30,
|
|
| |
|
2021
|
|
|
2020
|
|
|
2021
|
|
|
2020
|
|
|
Research and development
|
|
$
|
1,526
|
|
|
$
|
166,610
|
|
|
$
|
149,232
|
|
|
$
|
365,213
|
|
|
Plasma center operating expenses
|
|
|
14,150
|
|
|
|
8,579
|
|
|
|
38,605
|
|
|
|
24,333
|
|
|
Selling, general and administrative
|
|
|
596,084
|
|
|
|
535,949
|
|
|
|
1,850,411
|
|
|
|
1,599,094
|
|
|
Cost of product revenue
|
|
|
76,514
|
|
|
|
63,646
|
|
|
|
236,612
|
|
|
|
178,300
|
|
|
Total stock-based compensation expense
|
|
$
|
688,274
|
|
|
$
|
774,784
|
|
|
$
|
2,274,860
|
|
|
$
|
2,166,940
|
|
|