Quarterly report pursuant to Section 13 or 15(d)

Stock Options (Tables)

v3.20.1
Stock Options (Tables)
 3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Assumptions Used Principally in Determining Fair Value of Options Granted

The weighted average assumptions used principally in determining the fair value of options granted to employees were as follows:

 

   

Three Months Ended

March 31,

  
    2020     2019  
Risk free interest rate     0.65 %     2.64 %
Expected dividend yield     0 %     0 %
Expected term in years     6.25       6.25  
Expected volatility     82.9 %     87.8 %
Estimated forfeiture rate     6.37 %     5 %

Summary of Option Activity

A summary of option activity for the three months ended March 31, 2020 is presented below

 

                Weighted        
                Average        
          Weighted     Remaining        
          Average     Contractual     Aggregate  
Options   Shares     Exercise
Price		     Term in
Years		     Intrinsic
Value		  
Outstanding at December 31, 2019     13,245,366     $ 5.19                  
Granted     3,405,600       4.53                  
Exercised     (150,889 )     0.11                  
Forfeited     (186,571 )     6.42                  
Outstanding at March 31, 2020     16,313,506     $ 5.09       7.46     $ 20,977,274  
Vested at March 31, 2020     8,699,682     $ 4.32       5.96     $ 18,476,342  
Vested and expected to vest at March 31, 2020     15,623,186     $ 5.07       7.38     $ 20,665,358