Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 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		586,366			1.21
Exercised		-			-			$	-
Forfeited		(6,135	)		4.37
Balance as of June 30, 2022		1,734,794		$	4.08		7.5	$	1
Exercisable as of June 30, 2022		966,089		$	5.85		6.2	$	1

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:

	Six Months Ended June 30,
	2022			2021
Expected term (in years)		6.0			6.0
Expected volatility		75	%		75	%
Risk-free interest rate		2.3	%		0.7	%
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 June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Research and development	$	55	$	45	$	97	$	73
General and administrative		83		83		182		159
Total stock-based compensation expense	$	138	$	128	$	279	$	232