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Share-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity Stock option activity under the Plans for the periods presented is as follows:

 

 

 

Options Outstanding

 

 

 

Shares Subject
to Options
Outstanding

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Life
(Years)

 

 

Aggregate
Intrinsic
Value

 

Balance as of December 31, 2021

 

 

1,476,475

 

 

$

9.35

 

 

 

9.4

 

 

 

 

Granted

 

 

247,088

 

 

$

3.49

 

 

 

 

 

 

 

Exercised

 

 

(5,882

)

 

 

0.50

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of March 31, 2022

 

 

1,717,681

 

 

$

8.53

 

 

 

9.28

 

 

$

302

 

Schedule of Stock Options Awards Valuation Assumptions

The Black-Scholes option pricing model assumptions used in evaluating our awards to employees are as follows:

 

 

 

Three Months
Ended

 

 

 

March 31, 2022

 

Expected Term (Years)

 

 

6.00

 

Expected Volatility

 

 

40

%

Risk-free interest rate

 

 

1.67

%

Dividend Yield

 

 

 

Schedule of Equity-based Compensation Expense

Equity-based compensation expense in the statement of operations is summarized as follows (in thousands):

 

 

 

Three Months
Ended
March 31,
2022

 

 

Three Months
Ended
March 31,
2021

 

Research and development

 

$

140

 

 

$

13

 

Sales and marketing

 

 

23

 

 

 

-

 

General and administrative

 

 

203

 

 

 

21

 

Total equity-based compensation expense

 

$

366

 

 

$

34