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Stock-Based Awards (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Assumptions used to Determine Fair Value of Stock Options Granted to Employees and Directors
The assumptions that the Company used to determine the fair value of the stock options granted to employees and directors were as follows, presented on a weighted average basis:
 Year Ended December 31,
 202220212020
Risk-free interest rate1.94 %0.89 %1.29 %
Expected term (in years)5.965.965.99
Expected volatility76.79 %83.87 %71.34 %
Expected dividend yield— %— %— %
Summary of Stock Option Activity
The following table summarizes the Company’s stock option activity for the year ended December 31, 2022:
 Number of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value
 (in years)
Outstanding as of December 31, 20217,057,258 $6.59 6.98$4,678 
Granted2,112,300 3.42 
Exercised(9,343)1.18 
Forfeited(926,885)6.95 
Outstanding as of December 31, 20228,233,330 $5.74 6.68$159 
Options exercisable at December 31, 20225,622,263 $5.98 5.75$159 
Vested and expected to vest at December 31, 20228,233,330 $5.74 6.68$159 
The following table summarizes the Company’s stock option under the Inducement Plan activity since December 31, 2021:
Number of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value
(in years)
Outstanding as of December 31, 2021— $— 0$— 
Granted371,600 2.66 
Exercised— — 
Forfeited(161,200)2.73 
Outstanding as of December 31, 2022210,400 $2.61 9.36$— 
Options exercisable at December 31, 2022— $— 0$— 
Vested and expected to vest at December 31, 2022210,400 $2.61 9.36$— 
Summary of Restricted Stock Unit Activity
The table below summarizes the Company’s restricted stock unit activity since December 31, 2021:
Number of
Shares
Weighted Average
Grant-Date Fair Value
Unvested restricted stock units as of December 31, 2021— $— 
Granted732,000 3.64 
Vested(284,400)3.64 
Forfeited(61,620)3.64 
Unvested restricted stock units as of December 31, 2022385,980 $3.64 
Summary of Stock-Based Compensation Expense Related to Stock Options, Restricted Stock Awards and ESPP
The Company recorded stock-based compensation expense related to stock options, restricted stock awards, and the ESPP in the following expense categories of its statements of operations and comprehensive loss:
 
 Year Ended December 31,
 202220212020
Research and development expenses$2,630 $2,431 $2,826 
General and administrative expenses4,593 6,115 4,939 
 $7,223 $8,546 $7,765