Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Compensation

Schedule of Stock option activity

The Company has granted options to purchase common stock under the Plan. Stock option activity during the six months ended June 30, 2022 was as follows:

		Weighted-average		Weighted-average	Aggregate intrinsic
	Amount	exercise price		contractual life (years)	value (in thousands)
Outstanding at December 31, 2021	2,332,603	$	3.93	8.30	$	129
Granted	189,828		4.67
Canceled / forfeited	(50,097)		2.70
Outstanding at June 30, 2022	2,472,334	$	3.88	8.11	$	4,966
Options exercisable	1,197,964	$	5.19	7.64	$	2,419
Options vested and expected to vest	2,387,217	$	3.92

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 three months ended June 30, 2022 and 2021 were as follows:

	Six Months Ended June 30,
	2022		2021
Risk-free interest rate	2.59	%	0.47	%
Expected volatility	124.51	%	123.20	%
Expected term (in years)	5.5	years	5.3	years
Expected dividend yield	—	%	—	%

Schedule of share-based compensation expense

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

	June 30,				June 30,
	2022		2021		2022		2021
	(In thousands)				(In thousands)
Research and development	$	88	$	69	$	148	$	149
General and administrative		189		62		364		112
Total stock-based compensation	$	277	$	131	$	512	$	261