Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Options Outstanding and Exercisable

The following table summarizes information concerning options outstanding and exercisable:

	Amount			Weighted-average exercise price		Weighted-average contractual life (years)		Aggregate intrinsic value (in thousands)
Outstanding at December 31, 2022		2,516,924		$	3.95		7.68	$	6,917
Granted		1,863,309			6.05
Canceled / forfeited		(593,333	)		6.12
Outstanding at June 30, 2023		3,786,900			4.64		8.06		2,756
Options exercisable		1,998,552			4.65		7.44		1,971
Options vested and expected to vest		3,687,482			4.69		8.06		2,653

Schedule of Weighted Average Assumptions

The Company uses the Black-Scholes option pricing model to value its stock options. The weighted average assumptions for valuing options granted during the six months ended June 30, 2023 and 2022 were as follows:

	Six months ended June 30,
	2023			2022
Risk-free interest rate		3.76	%		2.59	%
Expected volatility		126.16	%		124.51	%
Expected term (in years)		5.9 years			5.5 years
Expected dividend yield		—	%		—	%

Schedule of Share-based Compensation Expense

The Company recorded share-based compensation expense in the following expense categories of its condensed consolidated statements of operations:

	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
	(In thousands)				(In thousands)
Research and development	$	51	$	88	$	113	$	148
Selling, general and administrative		428		189		2,206		364
Total	$	479	$	277	$	2,319	$	512