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STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Option, Activity
The following is a summary of stock option activity during the six months ended June 30, 2023:
Number of
options
outstanding		Weighted
average
exercise
price		Average
remaining
contractual life
(in years)		Aggregate
intrinsic value
(in thousands)
Outstanding – December 31, 2022
2,196,798 $1.76 8.7$6,770 
Options granted
1,115,800 2.62 — — 
Options exercised
(88,026)1.17 — — 
Options cancelled(195,834)1.70 — — 
Outstanding – June 30, 2023
3,028,738 2.10 8.72,040 
Exercisable – June 30, 2023
1,052,605 $1.64 7.6$1,177 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions For the six months ended June 30, 2023 and 2022, the assumptions used in the Black-Scholes option pricing model, which was used to estimate the grant date fair value per option, were as follows:
Six months ended June 30,
20232022
Weighted-average Black-Scholes option pricing model assumptions:
Volatility
110.23% - 111.73%
107.25% - 110.98%
Expected term (in years)
5.71 - 6.07
5.73 - 5.80
Risk-free rate
3.54% - 3.80%
1.47% - 2.85%
Expected dividend yield$— $— 
Weighted average grant date fair value per share
$1.73 - $3.38
$1.08 - $1.75
Schedule of Nonvested Restricted Stock Units Activity The following is a summary of RSU’s awards activity:
Six months ended June 30, 2023
Numbers of SharesWeighted Average Grant Date Fair value
Non-Vested at beginning of period253,970 $1.47 
Shares granted5,000 2.24 
Shares vested(12,500)2.82 
Non-vested246,470 $1.44 
Share-based Payment Arrangement, Expensed and Capitalized, Amount
The following is a summary of stock-based compensation expense:
Three months ended June 30, Six months ended June 30,
2023202220232022
General and administrative
Stock options507,200 175,900 707,200 296,800 
RSU’s116,400 23,100 217,400 35,000 
Total general and administrative623,600 199,000 924,600 331,800 
R&D
Stock options78,800 64,800 170,800 90,900 
Total$702,400 $263,800 $1,095,400 $422,700