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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:

Three Months Ended September 30, 

Nine Months Ended September 30, 

2022

2021

    

2022

    

2021

General and administrative value appreciation right awards

$

3,402

$

8,621

$

(1,504)

$

34,089

Research and development value appreciation right awards

555

1,647

General and administrative stock options

145,194

21,650

638,692

21,650

Research and development stock options

35,665

156,910

129,931

238,298

General and administrative restricted stock units

40,288

109,637

$

224,549

$

187,736

$

876,756

$

295,684

Summary of VARs issued and outstanding

    

    

    

    

Weighted

Average

Weighted

Remaining

Average

Total Intrinsic

Contractual Life

Number of Units

Exercise Price 

Value

(in years)

Outstanding as of December 31, 2021

 

7,190

$

0.50

$

136,038

7.6

Exercised

(1,587)

$

0.50

-

Forfeited

(1,058)

$

0.50

-

Outstanding as of September 30, 2022

4,546

$

0.50

$

25,000

6.8

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

2,883

$

0.50

$

15,859

6.8

Summary of stock options outstanding

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

Weighted

Average

Shares

Weighted

Remaining

Aggregate

Underlying

Average

Contractual

Intrinsic

    

Options

    

Exercise Price

    

 Term (Years)

    

Value

Outstanding at December 31, 2021

53,929

$

54.50

9.6

Granted

34,680

15.00

Forfeited

(777)

143.50

-

Outstanding at September 30, 2022

 

87,833

$

38.00

 

9.1

$

300

Exercisable at September 30, 2022

18,652

$

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:

Three and

    

Nine Months Ended

September 30, 

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:

    

    

    

Weighted

    

Shares

Average

Underlying

Weighted

Remaining

Aggregate

Options and

Average

Contractual

Intrinsic

Warrants

Exercise Price

 Term (Years)

Value

Legacy BioPharmX options - September 30, 2022

 

316

$

3,763.55

 

0.6

$

Legacy BioPharmX warrants - December 31, 2021

 

4,280

$

4,360.50

 

1.8

$

Expired

 

(44)

$

11,250.00

 

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

    

    

    

Weighted

    

Shares

Average

Underlying

Remaining

Aggregate

Restricted

Grant Date

Contractual

Intrinsic

Stock Units

Fair Value

 Term (Years)

Value

Outstanding at December 31, 2021

 

$

 

$

Granted

9,000

$

15.50

1.0

139,500

Vested

 

(3,750)

$

15.50

 

$

Unvested at September 30, 2022

 

5,250

$

15.50

 

0.6

$

81,376