Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS (Tables)

v3.20.2
STOCK OPTIONS (Tables)
 6 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Fair Value of Options Granted to Employees

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

 

    Six Months Ended June 30,  
    2020     2019  
Risk free interest rate     0.62%       2.56%
Expected dividend yield     0%       0%  
Expected term in years     6.25       6.25  
Expected volatility     82.89%       87.65%  
Estimated forfeiture rate     5.98%       4.75%  
Summary of Option Activity

A summary of option activity for the six months ended June 30, 2020 and is presented below:

 

Options   Shares     Weighted
Average
Exercise
Price		    

Weighted
Average
Remaining

Contractual
Term in
Years

     Aggregate
Intrinsic
Value		  
Outstanding at December 31, 2019     13,245,366     $ 5.19                  
Granted     3,883,600       4.87                  
Exercised     (202,494 )     1.49                  
Forfeited     (554,811 )     5.93                  
Outstanding at June 30, 2020     16,371,661     $ 5.14       7.27     $ 54,044,121  
Vested at June 30, 2020     9,148,866     $ 4.50       5.86     $ 36,271,485  
Vested and expected to vest at June 30, 2020     15,775,432     $ 5.13       7.20     $ 52,286,782