Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-based Payment Arrangement [Abstract]

The following table summarizes stock option activity during the six months ended June 30, 2022:


	Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2022	3,156,379	$	9.45	7.55	$	5,720
Granted	2,334,656	3.76
Exercised	(3,005)	5.26
Forfeited	(121,534)	13.94
Outstanding at June 30, 2022	5,366,496	$	6.88	8.06	$	7,264,545
Exercisable at June 30, 2022	1,885,155	$	9.81	6.12	$	940,678

Assumptions used in Black-Scholes Pricing Model for New Grants

The following tables summarize the assumptions used in the Black-Scholes option-pricing model in the three and six months ended June 30, 2022 and 2021:


	Three Months Ended June 30,
	2022	2021
Volatility factor	97.42% - 102.52%	100.74% - 102.63%
Expected term (in years)	5.50 - 6.25	5.50 - 6.25
Risk-free interest rates	2.53% - 3.36%	0.96% - 1.17%
Dividend yield	—	—


	Six Months Ended June 30,
	2022	2021
Volatility factor	97.19% - 102.52%	56.17% - 102.66%
Expected term (in years)	5.50 - 6.25	5.50 - 6.25
Risk-free interest rates	1.69% - 3.36%	0.06% - 1.17%
Dividend yield	—	—