STOCKHOLDERS EQUITY (Tables)

3 Months Ended

Mar. 31, 2022

STOCKHOLDERS' EQUITY [Abstract]

Schedule of Assumptions

The following assumptions were used to determine the fair value of options granted during the three months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
	2022			2021
Expected term	5.5 - 6.3 years			5.5 - 6.3 years
Volatility		68	%		69	%
Dividend yield		0.0			0.0
Risk-free interest rate		1.72-1.73	%		0.80-1.04	%

Schedule of Option Activity

A summary of the Company’s option activity under the 2007 Plan and 2014 Plan and related information is as follows:

	Shares			Weighted Average Exercise Price
Options outstanding, vested and expected to vest at December 31, 2021		7,862,722		$	3.93
Forfeited		(9,186	)	$	2.13
Expired		(361,500	)	$	6.48
Granted		1,194,032		$	1.67
Options outstanding, vested and expected to vest at March 31, 2022		8,686,068		$	3.51
Options exercisable		5,646,819		$	4.25

Schedule of Unvested RSU Activity

A summary of the Company’s unvested RSU activity and related information is as follows:

	Shares			Weighted Average Grant Date Fair Value
Balance at December 31, 2021		4,485,133		$	1.34
Granted		1,059,266		$	1.67
Vested		(799,641	)	$	1.41
Forfeited		(15,000	)	$	1.22
Balance at March 31, 2022		4,729,758		$	1.41

Schedule of Stock-Based Compensation Expense

Total stock-based compensation expense for all awards granted under the Company’s equity incentive plans for the three months ended March 31, 2022 and 2021 is as follows:

	Three Months Ended March 31,
	2022		2021
Research and development	$	4,671	$	105,227
Plasma center operating expenses		21,052		10,818
Selling, general and administrative		1,517,602		588,491
Cost of product revenue		98,063		76,861
Total stock-based compensation expense	$	1,641,388	$	781,397