Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS (Tables)

v3.20.2
STOCK OPTIONS (Tables)
 9 Months Ended
Sep. 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:

 

    Nine Months Ended September 30,  
    2020     2019  
Risk free interest rate     0.59 %     2.41 %
Expected dividend yield     0 %     0 %
Expected term in years     6.25       6.25  
Estimated Forfeiture Rate     5.92 %     4.63 %
Expected volatility     82.89 %     87.3 %
Summary of Option Activity

A summary of option activity for the nine months ended September 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     4,394,600       5.12                  
Exercised     (249,578 )     2.30                  
Forfeited     (782,531 )     5.83                  
Outstanding at September 30, 2020     16,607,857     $ 5.19       7.10     $ 3,604,156  
Vested at September 30, 2020     9,671,446     $ 4.68       5.79     $ 3,604,156  
Vested and expected to vest at September 30, 2020     16,059,611     $ 5.18       7.03     $ 3,604,156