Tonix Pharmaceuticals Holding Corp. Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2019

A summary of the stock option activity and related information for the Plans for the six months ended June 30, 2019 is as follows:

	Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at December 31, 2018		137,145		$	143.09		8.14	$
Grants		955,100		$	2.17			$
Exercised		—
Forfeitures or expirations		(2,201	)		35.42
Outstanding at June 30, 2019		1,090,044		$	19.84		9.32	$	—

Vested and expected to vest at June 30, 2019		1,090,044		$	19.84		9.32	$	—
Exercisable at June 30, 2019		129,757		$	131.04		5.96	$	—

The assumptions used in the valuation of stock options granted during the six months ended June 30, 2019 and 2018 were as follows:

	Six Months Ended June 30, 2019		Six Months Ended June 30, 2018
Risk-free interest rate		2.15% to 2.54%		2.54% to 2.81%
Expected term of option		3.00 to 10.00 years		4.50 to 7.00 years
Expected stock price volatility		107.12% to 109.72%		99.65% to 102.00%
Expected dividend yield		0.0%		0.0%