NeuBase Therapeutics, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

Stock-Based Compensation (Tables)

6 Months Ended

Mar. 31, 2021

Schedule of stock-based compensation expense

The Company recorded stock-based compensation expense in the following expense categories of its unaudited condensed consolidated statements of operations for the three and six months ended March 31, 2021 and 2020:


		Three Months ended March 31,			Six Months ended March 31,
	2021		2020		2021		2020
General and administrative	$	448,880	$	954,241	$	1,291,159	$	2,067,352
Research and development		493,228		385,169		827,534		776,284
Total	$	942,108	$	1,339,410	$	2,118,693	$	2,843,636

Summary of stock options issued and outstanding

Below is a table summarizing the options issued and outstanding as of and for the six months ended March 31, 2021:


				Weighted
		Weighted		Average	Total
		Average		Remaining	Aggregate
		Exercise		Contractual Life	Intrinsic
	Stock Options	Price		(in years)	Value
Outstanding at September 30, 2020	6,190,790	$	2.76
Granted	534,340		7.59
Exercised	(21,576)		5.21
Forfeited	(150,670)		5.68
Outstanding at March 31, 2021	6,552,884		3.08	8.1	$	29,219,357
Exercisable as of March 31, 2021	4,575,375		1.65	7.7	$	26,884,291

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 six months ended March 31, 2021 and 2020 included:


	Six Months ended March 31,
	2021	2020

Expected term of options (years)	5.5 - 7.0	7.0
Expected common stock price volatility	83% - 83.3%	78% - 83.5%
Risk-free interest rate	0.6% - 1.3%	0.9% - 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 six months ended March 31, 2021 is as follows:


			Weighted
			Average
			Grant Date
	Unvested Restricted		Fair Value
	Stock		Price
Unvested as of September 30, 2020		—	$	—
Granted		4,364		9.17
Vested		(4,364)		9.17
Unvested as of March 31, 2021		—		—