Quarterly report pursuant to Section 13 or 15(d)

Stock Option and Incentive Plans (Tables)

v3.23.3
Stock Option and Incentive Plans (Tables)
9 Months Ended
Sep. 30, 2023
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, 2023, 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, 2022

 

 

55,565

 

 

$

548.79

 

 

 

 

 

 

 

Granted

 

 

25,188

 

 

 

5.02

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Expired

 

 

(1,046

)

 

 

1,763.01

 

 

 

 

 

 

 

Forfeited

 

 

(125

)

 

 

19.20

 

 

 

 

 

 

 

Options outstanding at September 30, 2023

 

 

79,582

 

 

 

359.68

 

 

 

7.82

 

 

$

 

Vested and exercisable at September 30, 2023

 

 

45,793

 

 

$

532.87

 

 

 

7.04

 

 

$

 

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,

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Risk free interest rate

 

 

 

 

 

3.00

%

 

 

4.00

%

 

 

2.23

%

Expected dividend yield

 

 

 

 

 

 

 

 

 

 

 

 

Expected term (in years)

 

 

 

 

 

5.44

 

 

 

6.06

 

 

 

5.91

 

Expected volatility

 

 

 

 

 

99.5

%

 

 

102.1

%

 

 

91.9

%