Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes the stock option activity during the year ended December 31, 2023:

	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in thousands)
Outstanding, January 1, 2023	2,990,423	$	19.28	8.59	$	2,849
Granted	2,282,409	8.78
Exercised	(41,633)	1.88
Expired/cancelled	(651,540)	19.98
Outstanding as of December 31, 2023	4,579,659	$	14.11	8.37	$	25
Options exercisable as of December 31, 2023	1,494,789	$	17.84	7.22	$	25
Vested and expected to vest as of December 31, 2023	4,579,659	$	14.11	8.37	$	25

Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

Activity with respect to the Company’s restricted stock units during the year ended December 31, 2023 is as follows:

	Shares	Weighted Average Grant Date Fair Value
Nonvested shares at January 1, 2023	—	$	—
Granted	32,558	4.30
Vested/Issued	—	—
Forfeited	—	—
Nonvested shares at December 31, 2023	32,558	$	4.30

Schedule of Recognized Compensation Cost Restricted Stock Units

The Company recognized the following compensation cost related to employee and non-employee share-based compensation activity for the periods presented (in thousands):

	Year Ended December 31,
	2023		2022
Selling, general and administrative	$	7,450	$	6,333
Research and development	4,504		3,310
Total	$	11,954	$	9,643

Schedule of Stock Options Valuation Assumptions

The calculation was based on the following assumptions:

	Year Ended December 31,
	2023	2022
Weighted average grant date fair value (per share)	$6.83	$12.20
Risk-free interest rate	3.42% - 4.67%	1.46% - 4.23%
Expected volatility	89.94% - 101.49%	85.91% - 89.35%
Expected term (in years)	5.2 - 6.1	5.5 - 6.1
Expected dividend yield	—	—