Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.20.2
Stock-Based Compensation (Tables)
 9 Months Ended
Jun. 30, 2020
Stock-Based Compensation  
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 and nine months ended June 30, 2020 and 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 

 

Nine Months Ended June 30, 

 

    

2020

    

2019

    

2020

    

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative

 

$

847,921

 

$

814,657

 

$

2,915,273

 

$

2,348,957

Research and development

 

 

362,794

 

 

4,911

 

 

1,139,078

 

 

18,085

Total

 

$

1,210,715

 

$

819,568

 

$

4,054,351

 

$

2,367,042

 

Summary of stock options issued and outstanding

Below is a table summarizing the options issued and outstanding as of and for the nine months ended June 30, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

148,500

 

 

6.41

 

  

 

 

  

Forfeited

 

(10,000)

 

 

7.23

 

 

 

 

 

Outstanding at June 30, 2020

 

6,514,466

 

$

2.78

 

8.7

 

$

39,565,558

Exercisable as of June 30, 2020

 

4,331,730

 

 

1.43

 

8.5

 

 

32,306,881

 

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 nine months ended June 30, 2020 included:

 

 

 

 

 

    

Nine Months ended

 

 

June 30, 2020

Expected term of options (years)

 

6.1 - 7.0

Expected common stock price volatility

 

78% - 84.3%

Risk-free interest rate

 

0.3% - 1.8%

Expected dividend yield

 

 —

 

Summary of changes in the outstanding restricted stock

A summary of the changes in the unvested restricted stock during the nine months ended June 30, 2020 is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

Average

 

 

 

 

 

  Grant Date

 

    

Unvested Restricted

    

 Fair Value

 

 

 Stock

 

Price

Unvested as of September 30, 2019

 

 

6,875

 

$

6.24

Granted

 

 

4,823

 

 

6.36

Vested

 

 

(10,448)

 

 

6.28

Unvested as of June 30, 2020

 

 

1,250

 

$

6.24

Total unrecognized expense remaining

 

$

1,035

 

 

  

Weighted-average years expected to be recognized over

 

 

0.1