Quarterly report pursuant to Section 13 or 15(d)

Stock Option and Incentive Plans (Tables)

v3.21.2
Stock Option and Incentive Plans (Tables)
9 Months Ended
Sep. 30, 2021
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, 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
     1,227,500        4.31                    
Exercised
     —          —                      
Expired
     (95,978      46.18                    
Forfeited
     (34,812      5.62                    
    
 
 
                            
Options outstanding at September 30, 2021
     2,950,551        9.22        8.10      $ 72,725  
    
 
 
                      
 
 
 
Vested and exercisable at September 30, 2021
     1,324,857        13.74        6.86      $ 16,125  
    
 
 
                      
 
 
 
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
September 30,
   
Nine Months Ended
September 30,
 
    
2021
   
2020
   
2021
   
2020
 
Risk free interest rate
     0.81     0.27     0.83     1.15
Expected dividend yield
     —         —         —         —    
Expected term (in years)
     6.12       6.12       5.99       6.03  
Expected volatility
     95.1     97.4     94.5     94.6