Quarterly report pursuant to Section 13 or 15(d)

Stock Option and Incentive Plans (Tables)

v3.21.1
Stock Option and Incentive Plans (Tables)
3 Months Ended
Mar. 31, 2021
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity A summary of stock option activity for the three months ended March 31, 2021, 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, 2020
     1,853,841      $ 14.33                    
Granted
     103,500        5.58                    
Exercised
     —          —                      
Expired
     (32,144      86.61                    
Forfeited
     —          —                      
    
 
 
                      
 
 
 
Options outstanding at March 31, 2021
     1,925,197        12.65        7.48      $ 315,944  
    
 
 
                      
 
 
 
Vested and exercisable at March 31, 2021
     1,018,597        17.26        6.29      $ 146,340  
    
 
 
                      
 
 
 
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
March 31,
 
    
2021
   
2020
 
Risk free interest rate
     0.72     1.35
Expected dividend yield
     —         —    
Expected term (in years)
     6.06       6.06  
Expected volatility
     96.3     94.0