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STOCK BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2022
Stock-based compensation  
Schedule of stock-based compensation expenses

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Three Months Ended

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Nine Months Ended

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September 30, 

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September 30, 

(in thousands)

    

2022

    

2021

    

2022

    

2021

Research and development

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$

1,178

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$

642

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$

2,822

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$

1,974

General and administrative

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1,678

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2,003

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4,342

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6,354

Total stock-based compensation expense

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$

2,856

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$

2,645

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$

7,164

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$

8,328

Schedule of options outstanding

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Weighted-Average

    

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Weighted-

 

Remaining

 

Aggregate

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Options

 

Average

 

Contractual

 

Intrinsic

(in thousands, except for share data)

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Outstanding

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Exercise Price

 

Term (in years)

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Value

Outstanding at December 31, 2021

 

4,704,888

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$

13.29

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7.7

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$

10,305

Options granted

 

767,913

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2.80

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Options exercised

 

(47,602)

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1.04

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21

Forfeited

 

(357,833)

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20.93

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Expired

 

(141,688)

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31.65

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Outstanding at September 30, 2022

 

4,925,678

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$

1.99

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7.2

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$

—

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Exercisable at September 30, 2022

 

3,711,517

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$

2.30

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6.7

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$

—

Nonvested at September 30, 2022

 

1,214,161

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$

1.05

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8.5

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$

—

Schedule of restricted stock units outstanding

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Weighted-Average

 

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Grant Date

 

Aggregate

(in thousands, except for share data)

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Shares

 

Fair Value

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Intrinsic Value

Outstanding at December 31, 2021

 

469,485

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$

18.05

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$

4,202

Awarded

 

305,600

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3.78

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Released

 

(45,840)

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25.57

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Forfeited

 

(196,131)

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18.36

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Outstanding at September 30, 2022

 

533,114

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$

9.10

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$

496

Nonvested at September 30, 2022

 

528,712

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$

9.06

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$

492

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Weighted Average Remaining Recognition Period (in years)

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3.1

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Stock options - Service conditions only  
Stock-based compensation  
Schedule of valuation assumptions

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Nine Months Ended

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September 30, 

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2022

 

2021

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Expected term (in years)

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5.7

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5.6

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Volatility

 

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75.83

%

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70.99

%

Risk-free interest rate

 

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2.13

%

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0.91

%

Dividend yield

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—

%

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—

%