STOCK-BASED COMPENSATION (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

The Company recorded stock-based compensation related to stock options and restricted stock units (RSUs) issued under the Company’s 2018 Equity Incentive Plan (2018 Plan) in the following expense categories of its accompanying statements of operations for the three and nine months ended September 30, 2022 and 2021:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2022		2021		2022		2021
Research and development	$	(97)	$	22	$	(208)	$	61
General and administrative	(39)		112		168		379
Total	$	(136)	$	134	$	(40)	$	440

The Company recorded stock-based compensation related to stock options issued under the 2018 Plan in the following expense categories of its accompanying statements of operations for the years ended December 31, 2021 and 2020:

	For the Year Ended December 31,
	2021		2020
Research and development	$	83	$	103
General and administrative	543		51
Total	$	626	$	154

Activity of Stock Options Granted

The table below represents the activity of stock options granted to employees and non-employees for the nine months ended September 30, 2022:

	Number of options	Weighted average exercise price		Weighted average remaining contractual term (years)
Outstanding at December 31, 2021	708,490	$	3.60	8.64
Granted	204,500	$	5.22
Exercised	—	—
Forfeited	216,406	4.06
Outstanding at September 30, 2022	696,584	$	3.93	8.30
Exercisable at September 30, 2022	315,991	$	3.37	7.77

The table below represents the activity of stock options granted to employees and non-employees for the year ended December 31, 2021:

	Number of options	Weighted average exercise price		Weighted average remaining contractual term (years)
Outstanding at December 31, 2020	266,250	$	2.94	8.22
Granted	442,240	$	4.00
Exercised	—	—
Forfeited	—	—
Outstanding at December 31, 2021	708,490	$	3.60	8.64
Exercisable at December 31, 2021	205,888	$	2.94	7.80
Vested and expected to vest at December 31, 2021	708,490	$	3.60	8.64

Schedule of Valuation Assumptions

The Black-Scholes option-pricing model was used to estimate the grant date fair value of each stock option grant at the time of grant using the following weighted-average assumptions:

	For the Nine Months Ended September 30,
	2022			2021
Volatility	90.39		%	83.50		%
Expected term in years	5.98			5.90
Dividend rate	0.00		%	0.00		%
Risk-free interest rate	2.00		%	0.99		%
Fair value of option on grant date	$	3.86		$	3.87

The Black-Scholes option-pricing model was used to estimate the grant date fair value of each stock option grant at the time of grant using the following weighted-average assumptions:

	For the Year Ended December 31,
	2021			2020
Volatility	83.78		%	85.00		%
Expected term in years	5.85			5.80
Dividend rate	0.00		%	0.00		%
Risk-free interest rate	1.01		%	0.64		%
Fair value of common stock on grant date	$	4.00		$	4.72

Summary of Restricted Stock Unit Activity

The following table summarizes the activity related to RSUs granted to employees for the nine months ended September 30, 2022:

	Shares
Outstanding at December 31, 2021	—
Granted	188,023
Vested and settled	—
Expired/forfeited/canceled	—
Outstanding at September 30, 2022	188,023