Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Summary of Stock Option Activity

A summary of stock option activity for the nine months ended September 30, 2021 is as follows:

						Weighted Average
						Contractual Life		Aggregate
	Number of			Weighted Average		Remaining		Intrinsic Value
	Shares			Exercise Price		(in years)		(whole dollars)
Outstanding as of December 31, 2020		5,350,800		$	1.69		7.75	$	41,442,250
Granted		2,101,750			8.11
Exercised		—			—
Expired/Forfeited		(320,600	)		3.27
Outstanding as of September 30, 2021		7,131,950		$	3.50		7.67	$	87,034,525
Exercisable as of September 30, 2021		1,178,800		$	0.60		5.49	$	17,747,150

Summary of Weighted Average Assumptions Used In Calculating Fair Value of Stock Options Granted

The weighted average assumptions used in calculating the fair value of stock options granted during the nine months ended September 30, 2021 and September 30, 2020 were as follows:

	For the Nine Months Ended September 30,
	2021			2020
Expected life	7.5 (yrs)			7.5 (yrs)
Expected volatility		40.33	%		36.85	%
Risk-free interest rate		1.68	%		1.39	%
Expected dividend yield		0.00	%		0.00	%

Summary of Restricted Stock Activity

A summary of restricted stock activity for the nine months ended September 30, 2021 is presented below:

	Number of		Weighted-Average Grant
	RSAs		Date Fair Value Per RSA
Outstanding as of December 31, 2020		—	$	—
Granted		26,582		11.29
Exercised		—		—
Expired/Forfeited		—		—
Outstanding as of September 30, 2021		26,582	$	11.29