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Stock Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of assumptions used in the Black-Scholes option-pricing model
The assumptions used in the Black-Scholes option-pricing model are determined as follows:

March 31, 2020
Volatility78.00 %
Risk-free interest rate
1.42%-1.55%
Expected life (in years)
2.75-6.08
Dividend yield0 %
Summary of stock option activity for employees and directors
A summary of stock option activity for employees, directors and consultants is as follows:
Number of Shares
Weighted Average
Exercise Price
Outstanding as of December 31, 20194,006,351  $10.92  
Granted638,563  14.95  
Exercised(223,643) 7.87  
Forfeited(459,781) 12.22  
Outstanding as of March 31, 20203,961,490  $11.59  
Options vested and exercisable as of March 31, 20201,022,419  $11.72  
Summary of warrants activity for non-employees A summary of warrants activity for non-employees is as follows:
Number of Warrants
Weighted Average
Exercise Price
Outstanding as of December 31, 20191,550,975  $6.08  
Issued
—  —  
Expired
—  —  
Exercised
(11,049) $1.80  
Outstanding as of March 31, 20201,539,926  $6.12  
Warrants exercisable as of March 31, 20201,539,926  $6.12  
Schedule of performance based and market based issuances The following table summarizes the Company’s outstanding awards under this structure:
Grant Date
Performance Measures
Vesting Term
Performance Period
# of Shares
Exercise Price
December 2017
Weighted Average Price of our common stock is $15.00 for at least twenty trading days within a period of thirty consecutive trading days ending on the trading day prior to January 1, 2023.
Fully vest on January 1, 2023
January 1, 2023
642,307  $7.50  
August 2018
Weighted Average Price of our common stock is $15.00 for at least twenty trading days within a period of thirty consecutive trading days ending on the trading day prior to January 1, 2023.
Fully vest on January 1, 2023
January 1, 2023
397,693  $7.50  
April 2018
The Options will be divided into five equal tranches and Performance Targets to be established by Board of Directors for each tranche at the beginning of the fiscal year
Amended and vested 115,950 options based on severance agreement
Amended and vested 115,950 options based on severance agreement
115,950  $7.50