Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.21.4
Stock-Based Compensation (Tables)
12 Months Ended
Sep. 30, 2021
Stock-Based Compensation  
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 years ended September 30, 2021 and 2020:

    

Year Ended September 30,

2021

    

2020

General and administrative

$

2,369,287

$

3,729,061

Research and development

 

1,327,097

 

1,465,723

Total

$

3,696,384

$

5,194,784

Summary of stock options issued and outstanding

Below is a table summarizing the options issued and outstanding as of and for the years ended September 30, 2021 and 2020:

Weighted

Weighted

Average

Total

    

Average

Remaining

Aggregate

Exercise

Contractual

Intrinsic

    

Stock Options

    

Price

    

Life (in years)

    

Value

Outstanding at September 30, 2019

6,375,966

$

2.70

Granted

444,536

7.38

Exercised

(31,731)

5.42

Forfeited

(597,981)

5.42

Outstanding at September 30, 2020

6,190,790

2.76

Granted

1,758,599

5.45

Exercised

(47,052)

2.39

Forfeited

(505,183)

6.80

Outstanding at September 30, 2021

7,397,154

3.13

7.5

$

11,994,910

Exercisable as of September 30, 2021

5,242,852

$

2.19

6.8

$

11,952,755

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 years ended September 30, 2021 and 2020 included:

Year Ended September 30, 

2021

    

2020

Expected term of options (years)

6.1

6 - 7

Expected common stock price volatility

82.7% - 83.7%

78% - 84.3%

Risk-free interest rate

0.6% - 1.3%

0.2% - 1.8%

Expected dividend yield

Summary of changes in the outstanding restricted stock

A summary of the changes in the outstanding restricted stock during the years ended September 30, 2021 and 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

 

6,980

 

7.52

Vested

 

(13,855)

 

6.89

Unvested as of September 30, 2020

 

Granted

11,722

6.37

Vested

(11,722)

6.37

Unvested as of September 30, 2021

Total unrecognized expense remaining

 

$

Weighted-average years expected to be recognized over

 

Summary of restricted stock units granted and outstanding

Below is a table summarizing the restricted stock units granted and outstanding as of and for the year ended September 30, 2021:

Weighted Average 

 Grant Date 

Restricted Stock 

Fair Value 

    

Units

    

Price

Unvested as of September 30, 2020

 

$

Granted

 

10,000

 

5.09

Unvested as of September 30, 2021

 

10,000

 

5.09

Total unrecognized expense remaining

$

43,117

 

  

Weighted-average years expected to be recognized over

 

1.9