STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2025

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, 2024	744,985		$	2.05
Issued	1,176,000			2.22
Vested	(268,737	)		4.78
Canceled	(5,000	)		9.47
Unvested at December 31, 2024	1,647,248			3.03
Issued	820,000			1.96
Vested	(273,750	)		4.72
Canceled	(567,250	)		2.33
Unvested at September 30, 2025	1,626,248		$	2.30

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, 2025 and 2024, are as follows:

	For the Nine Months Ended September 30,
	2025	2024
Exercise Price	$1.90 to $2.06	$2.60 to $3.69
Fair value of Company common stock	$1.90 to $2.06	$2.60 to $3.69
Dividend yield	0%	0%
Expected volatility	71% to 75%	77% to 79%
Risk Free interest rate	3.90% to 4.20%	3.80% to 4.20%
Expected life (years) remaining	6.10 to 6.25	6.10 to 6.25

Stock Option Activity

The following summarizes option activity under the Company’s stock plan for the nine months ended September 30, 2025 and for the year ended December 31, 2024:

	Shares Underlying Options			Weighted Average Exercise Price
Outstanding at January 1, 2024	3,840,544		$	7.12
Granted	483,500		$	2.79
Exercised	(14,375	)	$	2.98
Forfeited and expired	(357,873	)	$	7.49
Outstanding at December 31, 2024	3,951,796		$	6.47
Granted	176,000		$	2.04
Exercised	(7,837	)	$	2.20
Forfeited and expired	(1,789,919	)	$	7.15
Outstanding at September 30, 2025	2,330,040		$	5.62
Vested options at September 30, 2025	1,511,972		$	7.03

Stock Compensation Expense

Stock compensation expense for the three and nine months ended September 30, 2025 and 2024 was as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
		2025		2024		2025		2024
Services	$	27,126	$	38,254	$	109,272	$	114,424
Research and development		29,040		26,517		90,833		79,512
Sales and marketing		95,061		66,828		266,954		203,272
General and administrative		566,589		1,420,443		2,205,045		4,476,385
Total		717,816	$	1,552,042		2,672,104	$	4,873,593