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

STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2020

A summary of the stock option activity and related information for the Plans for the six months ended June 30, 2020 is as follows:

	Shares		Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at December 31, 2019		109,036	$	199.57		8.60	$	—
Grants		10,100,250	$	0.81
Exercised		—
Forfeitures or expirations		—

Outstanding at June 30, 2020		10,209,286	$	2.93		9.76	$	95,385
Exercisable at June 30, 2020		141,144	$	135.08		4.97	$	120

The assumptions used in the valuation of stock options granted during the six months ended June 30, 2020 and 2019 were as follows:

	Six Months Ended June 30, 2020			Six Months Ended June 30, 2019
Risk-free interest rate		0.36% to 1.25	%		2.15% to 2.54	%
Expected term of option		5.5 to 6 years			3.0 to 10.0 years
Expected stock price volatility		124.11% - 130.00	%		107.12 -109.72	%
Expected dividend yield		0.0			0.0