STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2024

STOCK-BASED COMPENSATION [Abstract]

Information Regarding Equity Incentive Plan

The table below includes issuances of restricted stock awards and units under the 2020 Plan and unvested equity interests of MOR which were converted into restricted common stock.

	Number of Restricted Shares and Units			Weighted Average Grant Date Fair Value Per Share
Unvested at January 1, 2023		551,258		$	3.28
Issued		570,000			3.79
Vested		(331,934	)		7.30
Canceled		(44,339	)		0.44
Unvested at December 31, 2023		744,985			2.05
Issued		350,000			2.68
Vested		(241,485	)		4.78
Canceled		(5,000	)		9.47
Unvested at September 30, 2024		848,500		$	4.01

Fair Value of Stock Option Assumptions

The assumptions used to calculate the grant date fair value of the options granted during the nine months ended September 30, 2024 and 2023, are as follows:

	For the Nine Months Ended September 30,
	2024		2023
Exercise Price	$	2.60 to $3.69	$	2.60 to $3.79
Fair value of Company common stock	$	2.60 to $3.69	$	2.60 to $3.79
Dividend yield		0%		0%
Expected volatility	77% to 79%		79% to 117%
Risk Free interest rate	3.80% to 4.20%		3.40% to 4.19%
Expected life (years) remaining	6.10 to 6.25		6.08 to 6.25

Stock Option Activity

The following summarizes option activity under the Company’s stock plan for the nine months ended September 30, 2024 and for the year ended December 31, 2023:

	Shares Underlying Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)
Outstanding at January 1, 2023		3,983,808		$	10.53		8.23
Granted		1,416,000		$	3.46		9.28
Exercised		(2,452	)	$	2.20		4.42
Forfeited and expired		(1,556,812	)	$	12.53		7.40
Outstanding at December 31, 2023		3,840,544		$	7.12		8.96
Granted		475,500		$	2.80		9.35
Exercised		(14,375	)	$	2.98		0.76
Forfeited and expired		(301,626	)	$	6.92		5.95
Outstanding at September 30, 2024		4,000,043		$	6.53		7.47
Vested options at September 30, 2024		2,123,188		$	8.69		6.64

Stock Compensation Expense

Stock compensation expense for the three and nine months ended September 30, 2024 and 2023 was as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2024		2023		2024		2023
Services	$	38,254	$	51,611	$	114,424	$	123,809
Research and development		26,517		33,706		79,512		108,862
Sales and marketing		66,828		52,663		203,272		156,580
General and administrative		1,420,443		1,414,017		4,476,385		4,181,489
Separation expenses		—		—		—		349,832
Subtotal		1,552,042		1,551,997		4,873,593		4,920,572
Discontinued operations		—		—		—		(247,308	)
Total	$	1,552,042	$	1,551,997	$	4,873,593	$	4,673,264