Quarterly report pursuant to Section 13 or 15(d)

Stock Option and Incentive Plans (Tables)

v3.20.2
Stock Option and Incentive Plans (Tables)
9 Months Ended
Sep. 30, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity A summary of stock option activity for the nine months ended September 30, 2020, is summarized as follows:
    
Number of
Options
    
Weighted
Average
Exercise
Price
    
Weighted
Average
Remaining
Contractual
Life (in
years)
    
Aggregate
Intrinsic
Value
 
Options outstanding at December 31, 2019
     1,216,338      $ 19.75        
Granted
     789,000        9.77        
Exercised
     (750      4.50        
Expired
     (37,988      41.78        
Forfeited
     (101,969      12.85        
Options outstanding at September 30, 2020
     1,864,631      $ 15.46        7.57      $ 568,320  
  
 
 
    
 
 
       
 
 
 
Vested and exercisable at September 30, 2020
     890,955      $ 23.73        5.92      $ 198,713  
  
 
 
    
 
 
       
 
 
 
Assumptions to Compute Fair Value of Stock Option Grants
The following assumptions were used to compute the fair value of stock options granted during the period:
 
    
Three Months Ended
   
Nine Months Ended
 
    
September 30,
   
September 30,
 
    
2020
   
2019
   
2020
   
2019
 
Risk free interest rate
     0.27     1.58     1.15     2.35
Expected dividend yield
     —         —         —         —    
Expected term (in years)
     6.12       5.58       6.03       6.06  
Expected volatility
     97.4     90.6     94.6     89.7