Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Assumptions Used in Black-Scholes Option Pricing Model

:

	Year Ended December 31,
	2022	2021
Risk-free interest rate	1.5% - 4.4%	0.5% - 1.3%
Expected term (in years)	2.0 - 6.1	5.3 - 6.1
Expected volatility	74.4% - 79.5%	74.2% - 78.7%
Expected dividend rate	0.0%	0.0%

Summary of Option Activity

The following table summarizes option activity under the plans for the year ended December 31, 2022:

	Shares			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2021		17,300,740		$	6.57
Granted		4,600,154			0.56
Exercised		(699,234	)		-
Forfeited		(4,777,493	)		6.81
Outstanding at December 31, 2022		16,424,167		$	1.56		7.38	$	-
Vested and expected to vest at December 31, 2022		16,424,167		$	1.56		7.38	$	-
Exercisable at of December 31, 2022		9,212,552		$	2.28		6.26	$	-

Summary of Award Activity

The following table summarizes restricted share unit award activity for the year-end December 31, 2022:

	Performance-based RSUs		Time-based RSUs			Total RSUs			Weighted Average Grant Date Fair Value per Share
Unvested at December 31, 2021		195,000		123,333			318,333		$	6.41
Granted		—		2,192,988			2,192,988			0.46
Vested		—		(55,001	)		(55,001	)		5.58
Forfeited		—		(392,444	)		(392,444	)		0.60
Unvested at December 31, 2022		195,000		1,868,876			2,063,876		$	0.55

During the years ended December 31, 2022 and 2021, the total fair value of time-based RSU’s that vested was $0.3 million and $0.3 million, respectively.

Share-based Compensation Expense

Share-based compensation expense related to share options, restricted share unit awards, and the employee stock purchase plan was classified in the consolidated statements of operations and comprehensive loss as follows (in thousands):

	Year Ended December 31,
	2022		2021
Research and development	$	6,791	$	9,214
Selling, general and administrative		9,219		13,322
Total	$	16,010	$	22,536

Total share-based compensation by award type was as follows (in thousands):

	Year Ended December 31,
	2022		2021
Restricted share units	$	838	$	550
Share options		15,172		21,986
Total	$	16,010	$	22,536