Quarterly report pursuant to Section 13 or 15(d)

Stock-based compensation (Tables)

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Stock-based compensation (Tables)
6 Months Ended
Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Total Stock-Based Compensation Expense Related to Share-Based Awards under the Pieris Plan

Total stock-based compensation expense, related to all share-based awards under the Pieris Plan to executive officers, directors, employees and consultants recognized for the three and six months ended June 30, 2015, was comprised of the following:

 

     Three months ended      Six months ended  
     June 30, 2015      June 30, 2015  

Research and Development

   $ 78,551       $ 129,590   

General and administrative

     189,488         355,785   
  

 

 

    

 

 

 

Total stock-option expense

   $ 268,039       $ 485,375
  

 

 

    

 

 

 
Schedule of Weighted-Average Assumptions Used for Calculating Value of Options Granted

The fair value of option grants was estimated using the Black-Scholes model. The following table describes the weighted-average assumptions used for calculating the value of options granted for the three and six months ended June 30, 2015:

 

     Three months ended     Six months ended  
     June 30, 2015     June 30, 2015  

Forfeiture rate

     6.0     6.0

Dividend yield

     0.0     0.0

Expected volatility

     73.7     74.1

Weighted average risk-free interest rate

     1.73     1.71

Expected term

     5.3 - 5.8 years        5.3 - 5.8 years   
Schedule of Information Regarding Stock Option Activity

A summary of the Company’s stock option activity and related information is as follows:

 

     Number of
shares
     Weighted-
Average
Exercise Price
     Weighted-
Average
Contractual
Life
 

Outstanding at December 31, 2014

     2,519,500       $ 2.00         5.6 - 5.8 years   

Options granted

     25,000       $ 2.85         5.8 years   

Options exercised

     —           —           —     

Options cancelled or expired

     —           —           —     

Outstanding at March 31, 2015

     2,544,500       $ 2.01         5.6 - 5.8 years  

Options granted

     72,235       $ 2.89         5.3 - 5.8 years   

Options exercised

     —         $ —           —     

Options cancelled or expired

     —         $ —           —     

Outstanding at June 30, 2015

     2,616,735       $ 2.03         5.3 - 5.8 years   

Vested at June 30, 2015

     799,068       $ 2.03         —     

Expected to vest after June 30,2015

     1,708,607       $ 2.03         —     

Exercisable at June 30, 2015

     799,068       $ 2.03         —