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Share Incentive Plan (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Fair Value of Share Options Granted to Employees And Directors

The fair value of each share option granted to employees and directors was estimated on the date of grant using the following assumptions:

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Risk free interest rate

 

0.51% - 1.17%

 

 

0.28% - 1.38%

 

 

1.43% - 2.61%

 

Expected dividend yield

 

 

 

 

 

 

 

 

 

Expected term (in years)

 

5.5 - 6.7

 

 

4.6 - 7.0

 

 

5.4 - 6.4

 

Expected volatility

 

76% - 79%

 

 

74% - 82%

 

 

55% - 58%

 

Summary of Share Option Plan Activity

The following table summarizes share option plan activity for the year ended December 31, 2021:

 

 

 

Number of
Ordinary Shares

 

 

Weighted-
Average
Exercise Price

 

 

Average
Remaining
Contractual
Life (in years)

 

 

Aggregate
Intrinsic Value

 

Outstanding at December 31, 2020

 

 

44,959,938

 

 

$

0.69

 

 

 

 

 

$

11,650

 

Granted

 

 

22,175,244

 

 

$

0.15

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Cancelled or forfeited

 

 

(3,556,620

)

 

$

0.64

 

 

 

 

 

 

 

Outstanding at December 31, 2021

 

 

63,578,562

 

 

$

0.50

 

 

 

7.4

 

 

$

 

Exercisable at December 31, 2021

 

 

32,701,811

 

 

$

0.71

 

 

 

6.3

 

 

$

 

Vested and expected to vest at December 31, 2021

 

 

60,345,324

 

 

$

0.51

 

 

 

7.4

 

 

$

 

Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes restricted share unit activity for the 2020 ADS Plan for the year ended December 31, 2021 (in ordinary shares):

 

 

 

Number of
Shares

 

 

Weighted-
Average
Grant Date Fair Value

 

Non-vested at December 31, 2020

 

 

15,013,296

 

 

$

0.11

 

Granted

 

 

6,604,356

 

 

$

0.14

 

Vested and released

 

 

(7,876,356

)

 

$

0.11

 

Cancelled or forfeited

 

 

(653,448

)

 

$

0.13

 

Non-vested as of December 31, 2021

 

 

13,087,848

 

 

$

0.12

 

Schedule of Share Based Compensation Expense

Total share-based compensation expense is as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Research and development

 

$

1,146

 

 

$

1,171

 

 

$

1,195

 

General and administrative

 

 

3,033

 

 

 

3,053

 

 

 

2,049

 

Total

 

$

4,179

 

 

$

4,224

 

 

$

3,244