Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Assumptions Used to Calculate Fair Value of Options Granted to Employees

The fair value of stock options granted to employees during the years ended December 31, 2020 and 2019 was estimated at the date of grant using the following assumptions:

	Years Ended December 31,
	2020	2019
Risk-free interest rate	0.2%	1.6 – 1.8%
Expected dividend yield	0%	0%
Expected term	5.3 years	5.3 – 5.4 years
Expected volatility	67%	67%

Schedule of Recognized Stock-Based Compensation Expense

The Company recognized stock-based compensation expense during the years ended December 31, 2020 and 2019 as follows:

	Years Ended December 31,
(in thousands)	2020		2019
Research and development expense	$	—	$	223
General and administrative expense		1,722		2,148
Total stock-based compensation expense	$	1,722	$	2,371

Summary of Stock Option Activity

The following table summarizes stock option activity during the year ended December 31, 2020:

(in thousands, except per share amounts)	Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at December 31, 2019		1,924		$	11.93		6.71	$	12
Granted		22		$	3.37
Exercised		—		$	—
Forfeited		(84	)	$	8.92
Outstanding at December 31, 2020		1,862		$	11.97		6.04	$	1,254
Vested and expected to vest at December 31, 2020		1,862		$	11.97		6.04	$	1,254
Exercisable at December 31, 2020		1,683		$	12.69		5.84	$	848