Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.19.3.a.u2
Stock-Based Compensation (Tables)
12 Months Ended
Sep. 30, 2019
Stock-Based Compensation  
Summary of stock options issued and outstanding

Below is a table summarizing the options issued and outstanding as of and for the year ended September 30, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

Weighted Average

 

 

 

 

    

 

 

 

Average

 

Remaining 

 

 

 

 

 

 

 

 

Exercise

 

Contractual Term (in

 

 

Total Aggregate

 

    

Stock Options

    

 

Price

    

years)

    

 

Intrinsic Value

Outstanding as of September 30, 2018

 

 —

 

$

 —

 

0

 

 

 —

Assumed in connection with license acquired- Ohr

 

106,000

 

 

13.31

 

 

 

 

 

Granted

 

6,269,966

 

 

2.52

 

 

 

 

 

Outstanding at September 30, 2019

 

6,375,966

 

$

2.70

 

9.4

 

$

16,650,319

Exercisable as of September 30, 2019

 

4,117,187

 

$

1.23

 

9.2

 

$

16,650,319

 

Schedule of key assumptions used to estimate the fair value of the stock options granted

Key assumptions used to estimate the fair value of the stock options granted during the year ended September 30, 2019 included:

 

 

 

 

 

 

Year ended

 

    

September 30, 

 

 

2019

Expected common stock price volatility

 

75.6% - 78.4%

Risk-free interest rate

 

1.8% - 2.5%

Expected term of options (years)

 

1.6 - 7

Expected dividend yield

 

 —

 

Summary of changes in the outstanding restricted stock

A summary of the changes in the outstanding restricted stock during the year ended September 30, 2019 is as follows:

 

 

 

 

 

 

 

 

 

    

 

 

    

Weighted

 

 

 

 

 

Grant Date

 

 

 

Unvested Restricted

 

Fair Value

 

 

 

Stock

 

Price

Outstanding as of September 30, 2018

 

 

 —

 

$

 —

Granted

 

 

1,532,984

 

 

1.31

Vested

 

 

(1,526,109)

 

 

1.29

Non vested at September 30, 2019

 

 

6,875

 

$

6.24

Total unrecognized expense remaining

 

$

39,138

 

 

 

Weighted-average years expected to be recognized over

 

 

0.5

 

 

 

 

Schedule of stock-based compensation expense

The Company recorded stock-based compensation expense in the following expense categories of its consolidated statements of operations for the year ended September 30, 2019 and for the period from August 28, 2018 (inception) to September 30, 2018:

 

 

 

 

 

 

 

 

 

    

 

 

    

For the Period From

 

 

 

 

 

August 28, 2018

 

 

For the Year Ended 

 

(Inception) to

 

 

September 30, 

 

September 30, 

 

    

2019

    

2018

General and administrative expenses

 

$

6,543,575

 

$

 —

Research and development expenses

 

 

3,241,508

 

 

 —

 

 

$

9,785,083

 

$

 —