Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity and Related Information

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

	Stock Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value (in thousands)
Balance as of January 1, 2022		1,154,563		$	5.55		6.9	$	-
Granted		10,032			1.32
Exercised		-			-			$	-
Forfeited		(3,250	)		5.27
Balance as of March 31, 2022		1,161,345		$	5.51		6.7	$	4
Exercisable as of March 31, 2022		724,584		$	7.00		5.6	$	4

Grant Date Fair Value of Employee Stock Options Estimated Using Black-Scholes Option-Pricing Model with Weighted-Average Assumptions

The grant date fair value of employee stock options was estimated using a Black-Scholes option-pricing model with the following weighted-average assumptions:

	Three Months Ended March 31,
	2022			2021
Expected term (in years)		6.0			6.0
Expected volatility		75	%		75	%
Risk-free interest rate		1.8	%		0.5	%
Expected dividend yield		-	%		-	%

Total Stock-Based Compensation Expense Recognized in Condensed Consolidated Statements of Operations and Comprehensive Loss

Total stock-based compensation expense recognized in the condensed consolidated statements of operations and comprehensive loss is as follows (in thousands):

	Three Months Ended March 31,
	2022		2021
Research and development	$	42	$	28
General and administrative		99		76
Total stock-based compensation expense	$	141	$	104