SHARE BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2017

SHARE BASED COMPENSATION [Abstract]

Allocated share-based compensation expense

The following table summarizes share-based compensation related to stock options for the three and nine months ended September 30:

	Three Months Ended September 30,						Nine months Ended September 30,
	2017			2016			2017		2016
Research and development	$	(3,345	)	$	(3,079	)	$	---	$	5,914
Selling, general and administrative		2,571			17,190			7,923		54,212
Total share-based compensation expense	$	(774	)	$	14,111		$	7,923	$	60,126

Stock option activity

The following table summarizes the stock options outstanding and the number of shares of Common Stock subject to exercise as of September 30, 2017 and the changes therein during the nine months then ended:

	Stock Options			Weighted Average Exercise Price per Share
Outstanding as of December 31, 2016		691,237		$	1.94
Granted		---			---
Forfeited/cancelled		(538,834	)	$	1.08
Exercised		---			---
Outstanding as of September 30, 2017		152,403		$	4.98

Stock option grants outstanding and exercisable

The following table presents the stock option grants outstanding and exercisable as of September 30, 2017:

Options Outstanding						Options Exercisable
Stock Options Outstanding		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life in Years		Stock Options Exercisable		Weighted Average Exercise Price per Share
	90,000	$	0.33		5.5		90,000	$	0.33
	40,000		1.15		7.0		40,000		1.15
	22,403		30.48		0.5		22,403		30.48
	152,403	$	4.98		5.1		152,403	$	4.98