v3.25.2
STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
SUMMARY OF STOCK-BASED COMPENSATION EXPENSE RECOGNIZED FOR STOCK OPTION AWARDS

The Company has recorded stock-based compensation expense related to the issuance of restricted stock awards in the following line items in the accompanying condensed consolidated statements of operations:

 

   2025   2024   2025   2024 
   Three Months Ended
June 30,
   Six Months Ended
June 30,
 
   2025   2024   2025   2024 
                 
Research and development  $(8,334)  $35,345   $12,916   $57,227 
General and administrative   219,941    251,949    525,307    512,680 
Total stock-based compensation expense  $211,607   $287,294   $538,223   $569,907 
SUMMARY OF OPTION ACTIVITY

The following table summarizes stock option activity under the 2014 Plan and 2024 Plan:

 

SUMMARY OF OPTION ACTIVITY

   Number of
options
   Weighted-average
exercise price
   Weighted-average
remaining contractual
term (in years)
   Aggregate
intrinsic value
 
Outstanding at December 31, 2024   304,125   $6.95    4.45     
Granted                
Exercised                
Forfeited                
Outstanding at June 30, 2025   304,125   $6.95    3.90     
                     
Vested and exercisable at June 30, 2025   304,125   $6.95    3.90     
SUMMARY OF RESTRICTED STOCK AWARD

The following table summarizes restricted stock award activity under the 2014 Plan and 2024 Plan:

 

SUMMARY OF RESTRICTED STOCK AWARD

   Number of           As of June 30, 2025 
   restricted
stock awards
(RSA)
   Weighted-
average
grant price
   FMV on
grant date
   Vested
number
of RSA
   Unvested
number
of RSA
 
Balance at December 31, 2024   1,326,861   $1.99   $2,636,259    1,215,592    171,671 
Granted   258,398    0.81    208,559    121,408    136,990 
Forfeited   (25,721)   0.81    (20,834)       (25,721)
Balance at June 30, 2025   1,559,538   $1.81   $2,823,984    1,139,496    282,940