Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.20.1
Stock-Based Compensation (Tables)
3 Months Ended
Dec. 31, 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 three months ended December 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Weighted

 

Average

 

Total

 

 

 

 

Average

 

Remaining

 

Aggregate

 

 

 

 

Exercise

 

Contractual Life

 

Intrinsic

 

    

Stock Options

    

Price

    

(in years)

    

Value

Outstanding as of September 30, 2019

 

6,375,966

 

$

2.70

 

  

 

 

  

Granted

 

91,000

 

 

6.56

 

  

 

 

  

Outstanding at December 31, 2019

 

6,466,966

 

$

2.76

 

9.2

 

$

29,405,646

Exercisable as of December 31, 2019

 

4,131,869

 

$

1.24

 

8.9

 

 

25,270,895

 

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 three months ended December 31, 2019 included:

 

 

 

 

    

Three Months Ended

 

 

December 31, 2019

Expected common stock price volatility

 

78% - 81.1%

Risk-free interest rate

 

1.7% - 1.8%

Expected term of options (years)

 

6.96 - 7.0

Expected dividend yield

 

 —

 

Summary of changes in the outstanding restricted stock

A summary of the changes in the unvested restricted stock during the three months ended December 31, 2019 is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

  Grant Date

 

 

Unvested Restricted

 

 Fair Value

 

    

 Stock

    

 Price

Outstanding as of September 30, 2019

 

 

6,875

 

$

6.24

Vested

 

 

(1,875)

 

 

6.24

Unvested at December 31, 2019

 

 

5,000

 

$

6.24

Total unrecognized expense remaining

 

$

18,096

 

 

  

Weighted-average years expected to be recognized over

 

 

0.4

 

 

  

 

Schedule of stock-based compensation expense

The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations for the three months ended December 31, 2019 and 2018:

 

 

 

 

 

 

 

 

 

Three Months Ended December 31,

 

    

2019

    

2018

 

    

 

 

 

(As Restated) (Note 2)

General and administrative expenses

 

$

1,113,111

 

$

288,886

Research and development expenses

 

 

391,115

 

 

4,417

 

 

$

1,504,226

 

$

293,303