CohBar, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

Stockholders' Equity

6 Months Ended

Jun. 30, 2019

Stockholders' Equity Note [Abstract]

Stockholders’ Equity

Note 6 - Stockholders' Equity

Stock Options

The Company has an incentive stock plan, the Amended and Restated 2011 Equity Incentive Plan (the "2011 Plan"), and has granted stock options to employees, non-employee directors and consultants from the 2011 Plan. Options granted under the 2011 Plan may be Incentive Stock Options or Non-statutory Stock Options, as determined by the Administrator at the time of grant. As of June 30, 2019, there were 1,289,106 shares remaining available for issuance under the 2011 Plan.

During the six months ended June 30, 2019, the Company granted stock options to employees and non-employee directors to purchase 2,579,000 shares of the Company's common stock with grant date prices that ranged between $1.72 to $3.15 per share. The stock options have terms of ten years and are subject to vesting based on continuous service of the awardee over periods ranging between zero and four years. The stock options have an aggregate grant date fair value of $3,266,611.

The stock options granted during the six months ended June 30, 2019, included an option to purchase 430,000 shares of common stock that contained service and performance conditions to be met for those options to begin vesting. The option holder had to be continuously employed to meet the service condition and attain certain funding milestones over a two-year period to satisfy the performance condition.

During the six months ended June 30, 2019, stock options to purchase 233,214 shares of common stock were exercised for cash proceeds of $273,572.

The Company recorded stock-based compensation as follows:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2019		2018		2019		2018
Research and development	$	237,331	$	337,730	$	510,142	$	1,111,389
General and administrative		426,833		470,740		917,681		675,789
Total	$	664,164	$	808,470	$	1,427,823	$	1,787,178

The following table represents stock option activity for the six months ended June 30, 2019:

						Weighted Average
	Stock Options					Exercise Price				Fair Value		Contractual		Aggregate
	Outstanding			Exercisable		Outstanding		Exercisable		Vested		Life (Years)		Intrinsic Value
Balance – December 31, 2018		5,488,282			4,384,294	$	2.10	$	1.32	$	1.32		5.80	$	-
Granted		2,579,000			-		-		-		-		-		-
Exercised		(233,214	)		-		-		-		-		-		-
Cancelled		(92,254	)		-		-		-		-		-		-
Balance – June 30, 2019		7,741,814			4,540,410	$	2.15	$	1.45	$	1.45		6.27	$	2,768,087

The following table summarizes information on stock options outstanding and exercisable as of June 30, 2019:

Grant Price				Weighted Average		Total		Number		Weighted Average Remaining Contractual
From		To		Exercise Price		Outstanding		Exercisable		Term
$	0.26	$	2.02	$	0.89		3,299,604		3,281,062		4.06 years
$	2.10	$	4.60	$	2.46		3,737,335		850,980		9.15 years
$	5.30	$	8.86	$	6.60		704,875		408,368		8.86 years
					Totals		7,741,814		4,540,410

Warrants

During the six months ended June 30, 2019, warrants to purchase 50,000 shares of the Company's common stock were exercised for aggregate cash proceeds of $57,500.

						Weighted Average
	Warrants					Exercise Price				Fair Value		Contractual		Aggregate
	Outstanding			Exercisable		Outstanding		Exercisable		Vested		Life (Years)		Intrinsic Value
Balance – December 31, 2018		4,964,205			4,907,223	$	2.39	$	2.39	$	1.14		2.27	$	-
Granted		-			-		-		-		-		-		-
Exercised		(50,000	)		-		-		-		-		-		-
Cancelled		(6,982	)		-		-		-		-		-		-
Balance – June 30, 2019		4,907,223			4,907,223	$	2.40	$	2.40	$	1.11		1.80	$	1,175,115

During the six months ended June 30, 2019, warrants to purchase 6,982 shares of the Company's common stock expired and were cancelled.