STOCKHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023 and 2022:

	Three Months Ended March 31,
	2023			2022
Expected term	5.5 - 6.3 years			5.5 - 6.3 years
Volatility		68	%		68	%
Dividend yield		0.0			0.0
Risk-free interest rate		4.20-4.24	%		1.72-1.73	%

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, 2022		8,256,211		$	3.37
Forfeited		(15,555	)	$	2.29
Expired		(17,047	)	$	7.06
Granted		1,727,510		$	3.35
Exercised		(5,416	)	$	2.08
Options outstanding, vested and expected to vest at March 31, 2023		9,945,703		$	3.36
Options exercisable		6,660,313		$	3.67

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, 2022		2,866,987		$	1.59
Granted		2,666,260		$	3.35
Vested		(628,283	)	$	1.76
Forfeited		(29,500	)	$	1.25
Balance at March 31, 2023		4,875,464		$	2.53

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, 2023 and 2022 is as follows:

	Three Months Ended March 31,
	2023		2022
Research and development	$	5,385	$	4,671
Plasma center operating expenses		23,055		21,052
Selling, general and administrative		978,124		1,517,602
Cost of product revenue		103,602		98,063
Total stock-based compensation expense	$	1,110,166	$	1,641,388