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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Stock-Based Compensation Expense

Stock-based compensation expense for the three months ended March 31, 2022 and 2021 was classified in the condensed consolidated statement of operations as follows:

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

 

 

(000’s)

 

Research and development

 

$

375

 

 

$

139

 

General and administrative

 

 

1,199

 

 

 

809

 

Total

 

$

1,574

 

 

$

948

 
Schedule of Restricted Share Activity A summary of the Company’s restricted stock activity during the three months ended March 31, 2022 is as follows:

 

 

 

Shares

 

 

Fair Value

 

Weighted Average Fair Value

 

(000’s)

 

 

Per Share

 

Unvested, December 31, 2021

 

 

471

 

 

$

1.76

 

Granted

 

 

—

 

 

$

—

 

Vested

 

 

(73

)

 

$

1.82

 

Forfeited or canceled

 

 

(17

)

 

$

1.80

 

Unvested, March 31, 2022

 

 

381

 

 

$

1.75

 
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 pricing model to determine the fair value of stock options granted during the three months ended March 31, 2022 and 2021 were as follows:

 

 

 

Three Months Ended March 31,

 

 

 

 

2022

 

 

 

2021

 

Expected term (in years)

 

 

6.0

 

 

 

6.1

 

Risk-free rate

 

 

1.85

%

 

 

0.66

%

Expected volatility

 

 

94.0

%

 

 

85.9

%
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:

 

 

 

 

 

 

Weighted

 

 

Weighted

 

 

 

 

 

 

 

 

Average

 

 

Average

 

 

Aggregate

 

 

Number of

 

 

Exercise

 

 

Remaining

 

 

Intrinsic

 

 

Unvested

 

 

Price

 

 

Contractual

 

 

Value

 

 

Options

 

 

Per Share

 

 

Life (in years)

 

 

(000's)

 

Outstanding at December 31, 2021

 

3,659

 

 

$

4.99

 

 

 

8.67

 

 

 

 

Granted

 

1,964

 

 

$

2.31

 

 

 

9.88

 

 

 

 

Exercise

 

—

 

 

 

 

 

 

 

 

 

 

Forfeited/cancelled

 

(100

)

 

$

4.11

 

 

 

 

 

 

 

Outstanding at March 31, 2022

 

5,523

 

 

$

4.07

 

 

 

9.14

 

 

$

6

 

Vested at March 31, 2022

 

1,847

 

 

$

4.93

 

 

 

8.53

 

 

$

—

 
2020 Plan | Restricted stock units  
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, 2021

 

 

1,200

 

 

$

3.83

 

 

$

4,596

 

Granted

 

 

—

 

 

 

—

 

 

 

—

 

Vested

 

 

—

 

 

 

—

 

 

 

—

 

Forfeited or canceled

 

 

—

 

 

 

—

 

 

 

—

 

Unvested, March 31, 2022

 

 

1,200

 

 

$

3.83

 

 

$

4,596