Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.21.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Assumptions for Stock Option Grants

 

    2021  
Valuation assumptions        
Expected dividend yield     0.0%
Expected volatility     119.0% – 123.0%
Expected term (years) – simplified method     5.5 – 6.0  
Risk-free interest rate     0.98% – 1.12%
Schedule of Share Based Compensation Activity

Stock option activity during the for the three-month periods ended March 31, 2021 and 2020 is as follows:

 

      Number of Options     Weighted average exercise price     Weighted average remaining contractual term  
Balance as of January 1, 2020       509,173     $ 1.30       7.4  
Granted       -       -          
Additional options grant StemoniX holders       -       -          
Options assumed in Merger       -       -          
Exercised       (12,000 )     1.94          
Forfeited       (12,438 )     1.35          
Expired       (6,125 )     1.24          
Balance as of March 31, 2020       478,610     $ 1.28       6.5  

 

Balance as of January 1, 2021     756,383       1.82          
Granted     1,229,590       4.61          
Additional options grant StemoniX holders     292,995       4.61          
Options assumed in Merger     55,840       45.95          
Exercised     (29,916 )     1.24          
Forfeited     (29,349 )     2.00          
Expired     (7,000 )     1.39          
Balance as of March 31, 2021     2,268,543     $ 4.79       8.1  
Exercisable as of March 31, 2021     390,109     $ 8.00       7.5  

 

 

The weighted average grant-date fair value of options granted during the three-month periods ended March 31, 2021 was $3.89. No options were granted in 2020. The aggregate intrinsic value of options outstanding as of March 31, 2021 was $2.4 million. The intrinsic value of options exercisable was $1.1 million as of March 31, 2021. The total intrinsic value of options exercised was $23 thousand and $1 thousand for the three-month period ended March 31, 2021 and 2020, respectively.

 

The Company recognized stock-based compensation related to different instruments for the three-month periods ended March 31 as follows:

 

    2021     2020  
Stock options   $ 366     $ 42  
Shares issued to nonemployees     -       30  
Total   $ 366     $ 72  

 

As of March 31, 2021, there was $4.7 million of total unrecognized compensation cost related to unvested stock options granted under the Plan. That cost is expected to be recognized over a weighted average period of 3.95 years.

 
Schedule of Share Based Compensation Activity

The Company recognized stock-based compensation related to different instruments for the three-month periods ended March 31 as follows:

 

    2021     2020  
Stock options   $ 366     $ 42  
Shares issued to nonemployees     -       30  
Total   $ 366     $ 72  

 

As of March 31, 2021, there was $4.7 million of total unrecognized compensation cost related to unvested stock options granted under the Plan. That cost is expected to be recognized over a weighted average period of 3.95 years.