Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Share-Based Compensation Expense

The Company recognized share-based compensation in its Consolidated Statements of Operations and Comprehensive Loss during the periods presented as follows:

Expense classification:	Year Ended December 31, 2023		Year Ended December 31, 2022
Manufacture and supply	$	191	$	203
Research and development	456		672
Selling, general and administrative	2,042		3,506
Total share-based compensation expenses	$	2,689	$	4,381
Share-based compensation from:
Restricted Stock Units	993		127
Stock Options	1,669		4,244
Employee Stock Purchase Plan	27		10
Total share-based compensation expenses	$	2,689	$	4,381

Summary of Restricted Stock Units

The following tables summarize the Company’s awards of service-based and market conditions vesting-based restricted stock units for the years 2023 and 2022:

Restricted Stock Unit Awards (RSUs) - Service-based:	Number of Units	Weighted Average Grant Date Fair Value Per Share
	(In thousands)
Unvested, December 31, 2021	—	$	—
Granted	192	2.37
Forfeited	(20)	2.21
Vested	(10)	2.55
Unvested, December 31, 2022	162	$	2.38
Granted	1,874	0.91
Forfeited	(31)	2.33
Vested	(57)	2.03
Unvested, December 31, 2023	1,948	$	0.97

Summary of Stock Option Activity

Restricted Stock Unit Awards (RSUs) - Market conditions vesting-based:	Number of Units	Weighted Average Grant Date Fair Value Per Share
	(In thousands)
Unvested, December 31, 2022	—	$	—
Granted	1,332	2.40
Forfeited	—	—
Vested	—	—
Unvested, December 31, 2023	1,332	$	2.40

The following table summarizes the Company’s stock option activity for the years during 2023 and 2022:

(in 000s, except share price data)	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
Outstanding at December 31, 2021	4,146	$	7.28	7.88	$	1,423
Granted	2,015	$	1.83
Forfeited and Expired	(133)	$	7.81
Outstanding at December 31, 2022	6,028	$	5.48	7.50	$	38
Granted	150	2.02
Exercised	(1)	$	0.88
Forfeited and Expired	(444)	$	2.27
Outstanding at December 31, 2023	5,733	$	5.58	6.41	$	1,082
Vested and expected to vest at December 31, 2023	5,674	$	5.62	6.32	$	1,050
Exercisable at December 31, 2023	4,324	$	6.59	5.98	$	596

Summary of Stock Option Valuation Assumptions

The Company’s estimates of the fair value of market conditions vesting-based awards at their grant or valuation dates were based on a Monte Carlo simulation and considered various variables and assumptions, including a simulated 30-day average at the end of the Performance period including the following assumptions:

	Year Ended December 31,
		2023
Expected dividend yield		0%
Expected volatility		92%	-	95%
Expected term (years)		2.74	-	3.00
Risk-free interest rate		3.6%	-	4.4%
Stock price at grant date		$2.01	-	$2.04

The fair values of stock options granted were estimated using the Black-Scholes model based on the following assumptions:

	Year Ended December 31,
	2023	2022
Expected dividend yield	0%	0%
Expected volatility	100%	100%
Expected term (years)	5.50	5.50	-	6.13
Risk-free interest rate	4.0%	2.0%	-	4.3%
Exercise prices	$2.02	$0.71	-	$2.55