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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Stock-Based Compensation Expense

Stock-based compensation expense for the years ended December 31, 2021 and 2020 was classified in the consolidated statements of operations as follows:

 

 

 

Year Ended
December 31,

 

 

 

2021

 

 

2020

 

 

 

(000's)

 

Research and development

 

$

658

 

 

$

605

 

General and administrative

 

 

3,371

 

 

 

3,411

 

Total

 

$

4,029

 

 

$

4,016

 
Schedule of Restricted Share Activity

A summary of the Company’s restricted share activity during the years ended December 31, 2021 and 2020 is as follows:

 

 

 

Shares (000's)

 

 

Estimated
Fair Value
Per Share

 

Unvested, December 31, 2019

 

 

2,039

 

 

$

2.04

 

Granted

 

 

1

 

 

$

2.34

 

Vested

 

 

(474

)

 

$

1.66

 

Forfeited or canceled

 

 

(670

)

 

$

1.75

 

Unvested, December 31, 2020

 

 

896

 

 

$

2.46

 

Granted

 

 

—

 

 

$

—

 

Vested

 

 

(359

)

 

$

1.83

 

Forfeited or canceled

 

 

(66

)

 

$

1.70

 

Unvested, December 31, 2021

 

 

471

 

 

$

1.76

 
2020 Plan  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Stock Option Activity

The following table summarizes the stock option activity for the 2020 Plan:

 

 

 

Number of
Nonvested
Options (000's)

 

 

Weighted
Average
Exercise
Price
Per Share

 

 

Weighted
Average
Remaining
Contractual
Life (in years)

 

 

Aggregate Intrinsic Value (000's)

 

Outstanding at December 31, 2019

 

 

—

 

 

$

—

 

 

 

 

 

$

—

 

Granted

 

 

2,175

 

 

$

5.00

 

 

 

 

 

$

—

 

Exercise

 

 

-

 

 

$

—

 

 

 

 

 

$

—

 

Forfeited/cancelled

 

 

(16

)

 

$

5.00

 

 

 

 

 

$

—

 

Outstanding at December 31, 2020

 

 

2,159

 

 

$

5.00

 

 

 

9.69

 

 

$

—

 

Granted

 

 

1,822

 

 

$

5.02

 

 

 

9.27

 

 

$

—

 

Exercise

 

 

—

 

 

$

—

 

 

 

—

 

 

$

—

 

Forfeited/cancelled

 

 

(322

)

 

$

5.00

 

 

 

—

 

 

$

—

 

Outstanding at December 31, 2021

 

 

3,659

 

 

$

5.01

 

 

 

8.98

 

 

$

—

 

Vested at December 31, 2021

 

 

1,378

 

 

$

4.99

 

 

 

8.67

 

 

$

—

 
Restricted Stock  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Weighted Average Assumptions on Grant Date Fair Value for Options Granted For the year ended December 31, 2020, the fair value of each restricted stock award was estimated on the date of grant using the weighted average assumptions in the table below:

 

 

 

Year Ended
December 31, 2020

 

 

 

Expected term (in years)

 

 

6.0

 

 

 

Risk-free rate

 

 

0.36

%

 

 

Expected volatility

 

 

140

%

 

 
Stock Option  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Weighted Average Assumptions on Grant Date Fair Value for Options Granted

The weighted average assumptions used in the Black-Scholes option pricing model to determine the fair value of stock options granted to employees and directors during the year ended December 31, 2021 were as follows:

 

 

 

Year Ended
December 31,

 

 

 

2021

 

 

2020

 

Expected term (in years)

 

6.1

 

 

5.5

 

Risk-free rate

 

 

0.85

%

 

 

0.29

%

Expected volatility

 

 

91

%

 

 

86

%
Restricted stock units | 2020 Plan  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Restricted Share Activity

RSUs:

The following table summarizes the RSU activity for the 2020 Plan:

 

 

Shares (000's)

 

 

Weighted
Average Price
Per Share

 

Weighted
Average Fair Value (000's)

 

Unvested, December 31, 2020

 

 

—

 

 

$

—

 

$

—

 

Granted

 

 

1,200

 

 

$

3.83

 

$

4,596

 

Vested

 

 

—

 

 

 

—

 

 

—

 

Forfeited or canceled

 

 

—

 

 

 

—

 

 

—

 

Unvested, December 31, 2021

 

 

1,200

 

 

$

3.83

 

$

4,596