EQUITY PLANS AND SHARE-BASED COMPENSATION

3 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

EQUITY PLANS AND SHARE-BASED COMPENSATION

Share-Based Compensation: The Company measures share-based compensation cost at the grant date based on the fair value of the award and recognizes this cost as an expense over the grant recipients’ requisite service periods for all awards made to employees, officers, directors and consultants.

The share-based compensation expense recognized in the Condensed Consolidated Statements of Operations was as follows:



	For the three months ended March 31,
	2018		2017
Share-based compensation cost included in:
Research and development	$	454	$	16,610
Selling, general and administrative	13,870		63,127
Total share-based compensation cost	$	14,324	$	79,737

The following table presents share-based compensation expense by type:



	For the three months ended March 31,
	2018		2017
Type of Award:
Stock Options	$	14,324	$	53,408
Restricted Stock Units and Awards	—		26,329
Total share-based compensation cost	$	14,324	$	79,737

Stock Options: The Company recognized share-based compensation expense for stock options of approximately $14,324 to officers, directors and employees for the three months ended March 31, 2018 related to stock option awards ultimately expected to vest. There were no stock options granted during the three months ended March 31, 2018 or during the three months ended March 31, 2017.

As of March 31, 2018, total compensation cost related to non-vested stock options not yet recognized was approximately $24,000 which is expected to be recognized over a weighted average period of approximately 1.2 years, 67,965 shares were vested or expected to vest in the future at a weighted average exercise price of $31.82, and 195,883 shares remained available for future grants under the Option Plan.

Restricted Stock: The Company did not recognized share-based compensation expense related to restricted stock grants for the three months ended March 31, 2018. During the three months ended March 31, 2017, the Company recognized approximately $26,000 in share-based compensation related to restricted stock grants. There were no restricted stock grants for the three months ended March 31, 2018 or the three months ended March 31, 2017.

As of March 31, 2018, there was no unrecognized share-based compensation expense from unvested restricted stock, no shares were expected to vest in the future, and 518,388 shares remained available for future grants under the Restricted Stock Plan.