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Equity-based compensation (Tables)
9 Months Ended
Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Summary of stock based compensation expense

During the three and nine months ended September 30, 2022, and 2021, respectively, equity-based compensation expenses were as follows:

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Three Months Ended September 30, 

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Nine Months Ended September 30, 

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​

2022

​

2021

    

2022

    

2021

General and administrative value appreciation right awards

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$

3,402

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$

8,621

​

$

(1,504)

​

$

34,089

Research and development value appreciation right awards

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​

—

​

​

555

​

​

—

​

​

1,647

General and administrative stock options

​

​

145,194

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​

21,650

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​

638,692

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​

21,650

Research and development stock options

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​

35,665

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​

156,910

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​

129,931

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​

238,298

General and administrative restricted stock units

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​

40,288

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​

—

​

​

109,637

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​

—

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$

224,549

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$

187,736

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$

876,756

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$

295,684

Summary of VARs issued and outstanding

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Weighted

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Average

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Weighted

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Remaining

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Average

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Total Intrinsic

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Contractual Life

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​

Number of Units

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Exercise Price 

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Value

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(in years)

Outstanding as of December 31, 2021

 

7,190

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$

0.50

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$

136,038

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7.6

Exercised

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(1,587)

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$

0.50

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​

​

​

-

Forfeited

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(1,058)

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$

0.50

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​

​

​

-

Outstanding as of September 30, 2022

​

4,546

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$

0.50

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$

25,000

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6.8

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​

​

​

​

​

​

​

​

​

​

Value appreciation right awards vested and exercisable at September 30, 2022

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2,883

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$

0.50

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$

15,859

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6.8

Summary of stock options outstanding

The following is a summary of the options outstanding as of September 30, 2022:

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Weighted

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Average

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Shares

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Weighted

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Remaining

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Aggregate

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Underlying

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Average

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Contractual

​

Intrinsic

​

    

Options

    

Exercise Price

    

 Term (Years)

    

Value

Outstanding at December 31, 2021

​

53,929

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$

54.50

​

9.6

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​

—

Granted

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34,680

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​

15.00

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​

​

​

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Forfeited

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(777)

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​

143.50

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-

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​

​

Outstanding at September 30, 2022

 

87,833

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$

38.00

 

9.1

​

$

300

Exercisable at September 30, 2022

​

18,652

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$

58.5

​

8.8

​

$

—

Summary of valuation assumptions were used to calculate the estimated fair value of awards granted

The following was used in determining the fair value of stock options granted during the three and nine months ended      September 30, 2022:

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Three and

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Nine Months Ended

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​

September 30, 

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​

2022

Expected life

 

5-7 years

Expected volatility

 

73.5%-77.38%

Risk-free interest rate

 

2.79% -2.83%

Expected dividend yield

 

—

Stock options and warrants  
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Summary of stock options outstanding

As part of the Merger, the Company assumed the following legacy stock options and warrants:

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Weighted

    

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Shares

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Average

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Underlying

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Weighted

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Remaining

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Aggregate

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Options and

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Average

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Contractual

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Intrinsic

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​

Warrants

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Exercise Price

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 Term (Years)

​

Value

Legacy BioPharmX options - September 30, 2022

 

316

​

$

3,763.55

 

0.6

​

$

—

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​

​

​

​

​

​

​

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​

Legacy BioPharmX warrants - December 31, 2021

 

4,280

​

$

4,360.50

 

1.8

​

$

—

Expired

 

(44)

​

$

11,250.00

 

—

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​

—

Legacy BioPharmX warrants - September 30, 2022

 

4,235

​

$

4,288.50

 

1.04

​

$

—

Restricted Stock Units  
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Summary of stock options outstanding

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Weighted

    

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Shares

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Average

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​

​

Underlying

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Remaining

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Aggregate

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Restricted

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Grant Date

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Contractual

​

Intrinsic

​

​

Stock Units

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Fair Value

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 Term (Years)

​

Value

Outstanding at December 31, 2021

 

—

​

$

—

 

—

​

$

—

Granted

​

9,000

​

$

15.50

​

1.0

​

​

139,500

Vested

 

(3,750)

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$

15.50

 

—

​

$

—

Unvested at September 30, 2022

 

5,250

​

$

15.50

 

0.6

​

$

81,376

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