Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Based Compensation Expense

Stock-based compensation expense, which includes expense for both employees and non-employees, has been reported in the Company’s condensed statements of operations for the three and six months ended June 30, 2022 and 2021 as follows (in thousands):

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
Research and development	$	340	$	425	$	757	$	723
General and administrative		745		1,423		1,644		2,528
Total stock-based compensation	$	1,085	$	1,848	$	2,401	$	3,251

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity for the six months ended June 30, 2022:

						Weighted average
				Weighted average		remaining contractual		Aggregate intrinsic
	Number of shares			exercise price		life (in years)		value
Outstanding as of December 31, 2021		3,443,817		$	10.05		7.8	$	3,952,803
Granted		433,536			7.49
Exercised		—
Forfeitures		(406,622	)		10.36
Expired		(35,086	)		13.75
Outstanding as of June 30, 2022		3,435,645		$	9.66		7.1	$	60,501
Options vested and exercisable as of    June 30, 2022		2,126,509		$	9.10		6.2	$	60,501

Summary of Non-vested RSUs Activities

The following is a summary of changes in the status of non-vested RSUs:

			Weighted Average
			Grant Date Fair
	Number of Shares		Value
Nonvested as of December 31, 2021		425,000	$	11.68
Granted		—		—
Forfeitures		—		—
Nonvested as of June 30, 2022		425,000	$	11.68