Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.23.1
STOCK-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Option, Activity
The following is a summary of stock option activity during the three months ended March 31, 2023:
Number of
options
outstanding		 Weighted
average
exercise
price (*)		 Average
remaining
contractual life
(in years)		 Aggregate
intrinsic value
(in thousands)
Outstanding – December 31, 2022
 2,196,798  $ 1.76  8.7 $ 6,770 
Options granted
 312,800  4.00 
Options exercised
 —  — 
Options cancelled (111,208) 1.83 
Outstanding – March 31, 2023
 2,398,390  2.06  8.5 1,752 
Exercisable – March 31, 2023
 860,898  $ 1.43  7.3 $ 957 
(*) $ - Indicates exercise price less than $0.01 per share
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions For the three months ended March 31, 2023 and 2022, the assumptions used in the Black-Scholes option pricing model, which was used to estimate the grant date fair value per option, were as follows:
Three months ended March 31,
2023 2022
Weighted-average Black-Scholes option pricing model assumptions:
Volatility 110.23  % 107.25  %
Expected term (in years) 6.07 5.8
Risk-free rate 3.80% 1.47%
Expected dividend yield —  — 
Weighted average grant date fair value per share $ 3.38  $ 1.55 
Schedule of Nonvested Restricted Stock Units Activity
The following is a summary of RSU’s awards activity:
Three months ended March 31, 2023
Numbers of Shares Weighted Average Grant Date Fair value
Non-Vested at beginning of period 253,970  $ 1.47 
Shares granted —  — 
Shares vested (3,750) 3.20 
Non-vested 250,220  $ 1.44 
Share-based Payment Arrangement, Expensed and Capitalized, Amount
The following is a summary of stock-based compensation expense:
Three months ended March 31,
2023 2022
General and administrative
Stock options 200,000  121,000 
RSU’s 101,000  12,000 
Total general and administrative 301,000  133,000 
R&D
Stock options 92,000  26,000 
Total $ 393,000  $ 159,000