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Stock Plans and Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

A summary of stock option activity under the 2010 Plan and inducement awards are summarized as follows:


	Number of Shares	Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value
Outstanding, December 31, 2021	10,363,769	$	3.80	7.41
Granted	6,108,100	2.66
Exercised	—	—
Canceled/Forfeited	(785,413)	5.74
Outstanding, September 30, 2022	15,686,456	$	3.26	7.66	$	2
Exercisable at September 30, 2022	7,846,344	$	3.30	6.37	$	1
Vested and unvested expected to vest at September 30, 2022	10,242,332	$	3.61	8.19	$	1

The weighted average grant date fair values of the stock options granted during the nine months ended September 30, 2022 and 2021 were $2.18 and $9.21, respectively, and were calculated using the following estimated assumptions:


	Nine Months Ended September 30,
	2022	2021
Expected term (years)	5.5	5.5


Risk free interest rate	1.4-2.9%	0.4-1.4%
Expected Volatility	110%-114%	109	%
Expected Dividends	None	None

Nonvested Restricted Stock Shares Activity

The following table presents a summary of unvested restricted stock awards (“RSAs”) under the 2010 Plan as of September 30, 2022:


	Number of Shares	Weighted Average Grant Date Fair Value
Unvested, December 31, 2021	10,312	$	3.45
Awarded	—	—
Vested	(10,312)	3.45
Forfeited	—	—
Unvested, September 30, 2022	—	$	—

Schedule of Share Based Compensation Allocation of Recognized Period Costs

For the three and nine months ended September 30, 2022 and 2021, the Company recorded stock-based compensation expense to the following line items in its costs and expenses section of the Condensed Consolidated Statements of Operations and Comprehensive Loss, including expense related to its ESPP:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2022		2021		2022		2021
Research and development expenses	$	505	$	553	$	2,084	$	1,331
General and administrative expenses	819		911		2,924		2,507
Total stock-based compensation expense	$	1,324	$	1,464	$	5,008	$	3,838