STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2022

STOCKHOLDERS' EQUITY [Abstract]

Schedule of Assumptions

The following assumptions were used to determine the fair value of options granted during the nine months ended September 30, 2022 and 2021:

	Nine Months Ended September 30,
	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%	0.80-1.14%

Schedule of Option Activity

A summary of the Company’s option activity under the Company’s equity incentive plans and related information is as follows:

				Weighted
				Average
	Shares			Exercise Price
Options outstanding, vested and expected to vest at December 31, 2021		7,862,722		$	3.93
Forfeited		(31,021	)	$	2.37
Expired		(691,420	)	$	6.91
Granted		1,194,032		$	1.67
Options outstanding, vested and expected to vest at September 30, 2022		8,334,313		$	3.36
Options exercisable		5,992,738		$	3.86

Schedule of Unvested RSU Activity

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

				Weighted
				Average Grant
	Shares			Date Fair Value
Balance at December 31, 2021		4,485,133		$	1.34
Granted		1,119,266		$	1.69
Vested		(1,409,912	)	$	1.33
Forfeited		(65,000	)	$	1.40
Balance at September 30, 2022		4,129,487		$	1.44

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 and nine months ended September 30, 2022 and 2021 is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Research and development	$	4,952	$	1,526	$	14,521	$	149,232
Plasma center operating expenses		21,588		14,150		62,255		38,605
Selling, general and administrative		1,187,043		596,084		3,772,860		1,850,411
Cost of product revenue		99,911		76,514		296,293		236,612
Total stock-based compensation expense	$	1,313,494	$	688,274	$	4,145,929	$	2,274,860