STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2022

STOCK-BASED COMPENSATION

SCHEDULE OF OPTION ACTIVITY UNDER 2021 PLAN AND 2018 PLAN

				Weighted-
				Average
				Remaining	Aggregate
		Weighted-Average		Contractual Term	Intrinsic Value
	Options	Exercise Price		(in years)	(in thousands)
Vested and expected to vest at December 31, 2021	3,454,374	$	6.85	9.42	$	19,378
Granted	794,557	$	15.03
Exercised	(95,997)		1.80
Cancelled/Forfeited	—		—
Outstanding at September 30, 2022	4,152,934	$	8.53	8.86	$	34,148
Vested and exercisable at September 30, 2022	999,256	$	6.44	8.62	$	10,150
Vested and expected to vest at September 30, 2022	4,152,934	$	8.53	8.86	$	34,148

SCHEDULE OF FAIR VALUE OF STOCK OPTIONS ASSUMPTIONS

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Expected term (in years)	6.1		5.2 - 5.8		5.5 - 6.1		5.2 - 6.1
Expected volatility	73.6 - 73.8	%	69.4 - 69.5	%	73.6 - 76.5	%	68.7 - 69.6	%
Risk-free interest rate	2.7 - 4.1	%	0.9 - 1.1	%	1.6 - 4.1	%	0.9 - 1.2	%
Expected dividend	—		—		—		—

SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE RECOGNIZED FOR STOCK OPTION GRANTS

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
General and administrative	$	899	$	711	$	2,446	$	942
Research and development		600		134		1,301		247
Total	$	1,499	$	845	$	3,747	$	1,189

SCHEDULE OF UNVESTED STOCK UNIT ACTIVITY

		Weighted-
		Average Grant
		Date Fair Value
	Units	Per Unit
Unvested restricted stock units as of December 31, 2021	—		—
Granted	22,881	$	22.16
Vested	—		—
Forfeited	—		—
Unvested restricted stock units as of September 30, 2022	22,881	$	22.16