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STOCK-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Total Stock-Based Compensation Expense The Company recognized total stock-based compensation expense during the three months ended March 31, 2022 and 2021, from the following categories:
March 31, 2022March 31, 2021
Restricted stock awards under the Plan$338,682 $— 
Stock option awards under the Plan2,254,313 — 
   Total stock-based compensation$2,592,995 $— 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following are the weighted average assumptions used in calculating the fair value of the total stock options granted in 2022 using the Black-Scholes method.

March 31, 2022
Weighted-average fair value of options granted$11.40 
Expected volatility126.40 %
Expected life (in years)5.81
Risk-free interest rate1.59 %
Expected dividend yield0.00 %
Schedule of Stock Options Roll Forward The following table summarizes the stock option activity (as adjusted) under the plans for the three months ended March 31, 2022:
Number
of Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contract
Price
Aggregate
Intrinsic
Value
(in thousands)
Outstanding at December 31, 2021
3,379,083 $8.91 9.61 $30,906 
Granted83,032 $11.77 $— $— 
Exercised— $— — $— 
Cancelled/forfeited— $— — $— 
Outstanding at March 31, 2022
3,462,116 $8.98 9.37 $31,428 
Shares vested and expected to vest3,462,116 $8.98 9.37 $31,428 
Exercisable as of March 31, 2022
682,588 $8.66 9.34 $6,416 
Exercisable as of March 31, 2021
— $— — $— 
Nonvested Restricted Stock Shares Activity
A summary of the Company's RSU activity in the three months ended March 31, 2022 is as follows:
Number of SharesWeighted Average Grant-Date Fair Value
Unvested at December 31, 202160,737 $24.33 
  Vested(4,810)$11.18 
  Granted24,735 $12.13 
  Forfeited— $— 
Unvested at March 31, 202280,662 $21.37