Annual report pursuant to Section 13 and 15(d)

8. STOCKHOLDERS??? EQUITY (Tables)

v3.19.1
8. STOCKHOLDERS’ EQUITY (Tables)
12 Months Ended
Dec. 31, 2018
STOCKHOLDERS' EQUITY  
Schedule of assumptions
    Year Ended   Year Ended  
    December 31, 2018   December 31, 2017  
Expected term     5.8-6.3 years       5.8-6.3 years    
Volatility     54-57 %     56-64 %  
Dividend yield     0.0       0.0    
Risk-free interest rate     2.40-3.11%       1.77-2.29%    
Schedule of stock option activity
    Shares   Weighted Average Exercise Price
Balance at December 31, 2016     1,535,187     $ 7.90  
Forfeited     (94,024 )   $ 7.72  
Expired     (47,476 )   $ 9.02  
Granted     1,976,295     $ 3.73  
Exercised     (93,939 )   $ 2.68  
Balance 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  
Balance at December 31, 2018     4,342,231     $ 5.16  
                 
Options exercisable     2,192,663     $ 6.30  
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       35,168       7.9     $ 1.96     $ 14,966       12,928       6.2     $ 1.80     $ 7,627  
  $2.96 - $4.60       2,563,017       8.7     $ 3.66       —         789,901       8.4     $ 3.64       —    
  $4.72 - $7.21       593,893       8.4     $ 5.52       —         262,908       7.4     $ 5.66       —    
  $7.56 - $10.80       1,150,153       4.4     $ 8.39       —         1,126,926       4.3     $ 8.37       —    
          4,342,231       7.5     $ 5.16     $ 14,966       2,192,663       6.2     $ 6.30     $ 7,627  
Stock-based compensation expense
    2018   2017
         
Research and development   $ 292,736     $ 380,925  
Plasma centers     34,797       47,330  
Selling, general and administrative     1,739,037       1,081,236  
Cost of product revenue     156,718       52,168  
                 
Total stock-based compensation expense   $ 2,223,288     $ 1,561,659