Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v2.4.1.9
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2015
Stock-Based Compensation [Abstract]  
Summary Of Stock Compensation Expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

 

 

2015

2014

Statement of operations line item:

 

 

 

 

General and administrative

$
190,039 

$
80,911 

Research and development

 
82,347 

 
47,439 

 

 

 

 

 

Total

$
272,386 

$
128,350 

 

Schedule Of Assumptions Made In Calculating The Fair Value Of Options

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

 

2015

2014

Black-Scholes assumptions

 

 

 

 

Expected dividend yield
0 

%
0 

%

Expected volatility

79-80

%

92-97

%

Risk free interest rate

1.3-1.6

%

1.5-1.7

%

Expected term (in years)

6 years

 

5 years

 

 

Summary Of Employee And Non-Employee Transactions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015

 

 

2014

 

Number of Options

Weighted Average Exercise Price

Number of Options

Weighted Average Exercise  Price

Outstanding at

 

 

 

 

 

 

January 1
11,400,806 

$
0.93 
9,356,795 

$
0.92 

Granted
3,426,316 

 
0.72 
975,999 

 
1.14 

Exercised
(881,928)

 
0.80 
(87,500)

 
0.80 

Expired
(1,431,879)

 
0.80 

 -

 

 -

Cancelled

 -

 

 -

 -

 

 -

 

 

 

 

 

 

 

Outstanding at March 31
12,513,315 

$
0.90 
10,245,294 

$
0.94 

 

Summary Of Stock Options Outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of Options

Weighted Average Exercise Price

Weighted Average Remaining Contractual Term

Aggregate Intrinsic Value

Outstanding at

 

 

 

 

 

 

March 31, 2015

12,513,315

$
0.90 

7.2 years

$
991,726 

 

 

 

 

 

 

 

Exercisable at

 

 

 

 

 

 

March 31, 2015
6,345,300 

$
1.02 

5.1 years

$
747,700 

 

 

 

 

 

 

 

Outstanding at

 

 

 

 

 

 

December 31, 2014
11,400,806 

$
0.93 

5.2 years

$
842,300 

 

 

 

 

 

 

 

Exercisable at

 

 

 

 

 

 

December 31, 2014
8,167,307 

$
0.97 

3.6 years

$
613,550 

 

Summary Of Unvested Shares

 

 

 

 

 

 

 

 

 

2015

 

Number of  Options

Weighted Average Fair Value at Grant Date

Unvested at January 1, 2015
3,233,499 

$
0.60 

Granted
3,426,316 

$
0.49 

Vested
(491,800)

$
0.60 

Cancelled

 -

$

 -

 

 

 

 

Unvested at March 31, 2015
6,168,015 

$
0.54