XML 57 R36.htm IDEA: XBRL DOCUMENT v3.25.0.1
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
SUMMARY OF STOCK OPTIONS

A summary of stock option awards as of December 31, 2024 and changes during the two-year period ended December 31, 2024 is presented below:

 

Stock Options  Number Outstanding   Weighted Average
Exercise Price		   Weighted Average
Remaining
Contractual
Term (years)		  

Aggregate
Intrinsic Value

 
Outstanding at January 1, 2023   760,220   $4.55           
Options granted   432,500   $1.23           
Options canceled or expired   (129,238)  $9.37           
Outstanding at December 31, 2023   1,063,482   $2.61           
Options granted   1,051,835   $1.12           
Options canceled or expired   (469,444)  $1.58           
Outstanding at December 31, 2024   1,645,873   $1.95    8.8   $13,476 
                     
Exercisable at December 31, 2024   907,723   $2.58    8.3   $7,299 
SUMMARY OF NON-VESTED RESTRICTED STOCK AWARDS

A summary of the status of the Company’s non-vested restricted stock awards as of December 31, 2024 and changes during the two-year period ended December 31, 2024, is presented below:

 

Restricted Stock  Number Outstanding  

Weighted Average

Grant Date

Fair Value

 
Non-vested stock awards outstanding at January 1, 2023   69,650   $1.92 
Granted   22,100   $0.92 
Vested and issued   (59,450)  $1.91 
Forfeited   (200)  $4.60 
Non-vested stock awards outstanding at December 31, 2023   32,100   $1.23 
Granted   39,700   $0.99 
Vested and issued   (12,100)  $1.84 
Forfeited   (20,000)  $0.88 
Non-vested stock awards outstanding at December 31, 2024   39,700   $0.99 
SUMMARY OF STOCK OPTIONS OUTSTANDING

A summary of stock options outstanding at December 31, 2024 by price range is as follows:

 

       Options Outstanding   Options Exercisable 
Range of Exercise Prices  Number   Weighted Average Remaining Contractual Term (in years)   Weighted Average Exercise Price   Number  

Weighted Average Remaining Contractual Term (in years)

   Weighted Average Exercise Price 
                         
Up to $1.50   1,250,252    9.3   $1.15    513,433    9.1   $1.13 
$1.51 to $4.50   207,345    7.5   $1.93    206,289    7.5   $1.93 
Above $4.51   188,276    6.9   $7.28    188,001    6.9   $7.27 
    1,645,873              907,723           
SCHEDULE OF ASSUMPTIONS USED TO DETERMINE FAIR VALUE OF OPTIONS GRANTED

The fair values of stock options granted were estimated at the date of grant using the Black-Scholes option pricing model. The Black-Scholes model was originally developed for use in estimating the fair value of traded options, which have different characteristics from Imunon’s stock options. The model is also sensitive to changes in assumptions, which can materially affect the fair value estimate. The Company used the following assumptions for determining the fair value of options granted under the Black-Scholes option pricing model:

 

   Year Ended December 31, 
   2024   2023 
Risk-free interest rate   3.72% to 4.50%   3.39 % to 4.81%
Expected volatility   101.7% to 115.8%   100.0% to 113.6%
Expected life (in years)   7.5 to 10    7.5 to 10 
Expected dividend yield   0.0%   0.0%