Quarterly report pursuant to Section 13 or 15(d)

7. STOCKHOLDERS' EQUITY (Tables)

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7. STOCKHOLDERS' EQUITY (Tables)
9 Months Ended
Sep. 30, 2019
STOCKHOLDERS' EQUITY  
Schedule of assumptions
    Nine Months Ended September 30,
    2019   2018
         
Expected term     5.8 - 6.3 years       5.8-6.3 years  
Volatility     54.2-62.9%       54-57%  
Dividend yield     0.0       0.0  
Risk-free interest rate     1.36-2.92%       2.40-2.97%  
Schedule of stock option activity
    Shares   Weighted Average Exercise Price
Balance at December 31, 2018     4,342,231     $ 5.16  
Forfeited     (152,903 )   $ 3.94  
Expired     (12,985 )   $ 4.88  
Granted     1,493,100     $ 3.49  
Exercised     (29,904 )   $ 2.84  
Balance at September 30, 2019     5,639,539     $ 4.76  
                 
Options exercisable     3,036,543     $ 5.67  
Stock-based compensation expense
    Three Months Ended September 30,   Nine Months Ended September 30,
    2019   2018   2019   2018
                 
Research and development   $ 95,757     $ 84,588     $ 271,823     $ 246,231  
Plasma centers     13,333       7,836       38,086       22,682  
Selling, general and administrative     491,710       444,651       1,559,530       1,245,702  
Cost of product revenue     49,870       40,506       145,230       113,141  
Total stock-based compensation expense   $ 650,670     $ 577,581     $ 2,014,669     $ 1,627,756