INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

INCOME TAXES

Schedule of significant components of net deferred tax assets

	December 31,
(In thousands)	2020		2019
Net operating loss carryforward	$	40,175	$	37,744
Research and development credit carryforward		1,608		1,544
Stock-based compensation		421		2,319
Depreciation and amortization		16		17
Accrued expenses		7		19
Lease liability		279		360
Right of use asset		(253)		(331)
Subtotal		42,253		41,672
Valuation allowance		(42,253)		(41,672)
Net deferred taxes	$	—	$	—

Schedule of income tax benefits computed using the federal statutory income tax rate

	December 31,
	2020		2019
Statutory rate	(21.0)	%	(21.0)	%
State taxes, net of benefit	(5.8)	%	(5.7)	%
Permanent differences:
Warrant modification expense	—	%	1.2	%
Other	0.3	%	0.4	%
Research and development tax credit	(1.1)	%	(1.4)	%
Stock-based compensation	21.2	%	—	%
Other	—	%	1.2	%
Increase / (decrease) in valuation reserve	6.4	%	25.3	%
Effective tax rate	0.0	%	0.0	%