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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Weighted Average Grant Fair Value of Stock Options using Black-Scholes Option-pricing Model

The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted during the three months ended March 31, 2024 and 2023:

 

 

Three Months Ended March 31,

 

2024

 

 

2023

Risk-free interest rate

 

 

5.0

%

 

N/A

Expected term (in years)

 

 

5.0

 

 

N/A

Expected volatility

 

 

110.5

%

 

N/A

Expected dividend yield

 

 

0

%

 

N/A

Schedule of Stock Option Activity

The following table summarizes option activity with service conditions under the 2021 Plan and the 2017 Plan:

 

 

Options

 

 

Weighted
Average
Exercise Price

 

 

Weighted
Average
Contract Term
(years)

 

 

Aggregate
Intrinsic
Value

 

Outstanding at January 1, 2024

 

 

2,820,187

 

 

$

40.16

 

 

 

5.6

 

 

$

 

Granted

 

 

451,553

 

 

 

4.32

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(48,889

)

 

 

22.83

 

 

 

 

 

 

 

Outstanding at March 31, 2024

 

 

3,222,851

 

 

$

35.40

 

 

 

5.6

 

 

$

2,430

 

Vested and expected to vest at March 31, 2024

 

 

3,222,851

 

 

$

35.40

 

 

 

5.6

 

 

$

2,430

 

Exercisable at March 31, 2024

 

 

2,052,737

 

 

$

46.51

 

 

 

4.1

 

 

$

1,620

 

 

Schedule of Activity Related to RSU Stock-Based Payment Awards

The following table summarizes activity related to RSU stock-based payment awards:

 

 

Number of Shares

 

 

Weighted
Average
Grant Date Fair Value

 

Outstanding at January 1, 2024

 

 

823,332

 

 

$

13.77

 

Granted

 

 

 

 

$

 

Vested

 

 

(233,361

)

 

$

12.04

 

Forfeited

 

 

(43,706

)

 

$

13.89

 

Outstanding at March 31, 2024

 

 

546,265

 

 

$

14.51

 

 

Schedule of Stock-based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss:

 

Three Months Ended March 31,

 

2024

 

 

2023

 

Cost of revenues

$

106

 

 

$

164

 

Research and development

 

376

 

 

 

558

 

Selling, general and administrative

 

2,484

 

 

 

3,266

 

$

2,966

 

 

$

3,988