Share-Based Compensation

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

Share-Based CompensationThe Company recognized share-based compensation in its Condensed Consolidated Statements of Operations and Comprehensive Loss during 2022 and 2021 as follows:

	Three Months Ended March 31,
	2022		2021
Manufacture and supply	$	48	$	82
Research and development	169		232
Selling, general and administrative	696		1,193
Total share-based compensation expenses	$	913	$	1,507
Share-based compensation from:
Restricted stock units	$	—	$	38
Stock options	913		1,469
Employee stock purchase plan	—		—
Total share-based compensation expenses	$	913	$	1,507

Share-Based Compensation Equity Awards

The following tables provide information about the Company’s restricted stock unit and stock option activity during the three-month period ended March 31, 2022:

Restricted Stock Unit Awards (RSUs):	Number of Units		Weighted Average Grant Date Fair Value
	(in thousands)
Unvested as of December 31, 2021	—		$	—
Granted	166		$	2.55
Vested	—		$	—
Forfeited	—		$	—
Unvested as of March 31, 2022	166		$	—
Grant date fair value of shares vested during the period	$	—
Unrecognized compensation costs as of March 31, 2022	$	377

Stock Option Awards:	Number of Options	Weighted Average Exercise Price
	(in thousands)
Outstanding as of December 31, 2021	4,146	$	7.28
Granted	1,125	$	2.55
Exercised, Forfeited, Expired	(11)	$	4.98
Outstanding as of March 31, 2022	5,260	$	6.27
Vested and expected to vest as of March 31, 2022	5,047	$	6.39
Exercisable as of March 31, 2022	2,496	$	9.25

The fair values of stock options granted during the three months ended March 31, 2022 were estimated using the Black-Scholes pricing model based on the following assumptions:

Expected dividend yield	—	%
Expected volatility	100%
Expected term (years)	6.1
Risk-free interest rate	2.0	%

The weighted average grant date fair value of stock options granted during the three months ended March 31, 2022 was $2.03. During the three-month period ended March 31, 2022, stock options were granted with an exercise price of $2.55 and

accordingly, given the Company’s share price of $2.61 at March 31, 2022, the intrinsic value provided by certain shares granted during this period was de minimus.

As of March 31, 2022, $5,098 of unrecognized compensation expense related to non-vested stock options is expected to be recognized over a weighted average period of 2.07 years from the date of grant.

As of March 31, 2022, $377 of unrecognized compensation expense related to unvested restricted stock units is expected to be recognized over a weighted average period of 2.94 years from the date of grant.