Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Stock Warrants Activity

The following table summarizes our stock warrants for the years ended December 31, 2021 and 2020:

	Number of Warrants		Weighted- average exercise price per share		Weighted- average remaining contractual term (in years)		Aggregate intrinsic value
Outstanding December 31, 2019		89,935	$	15.00		5.6	$	—
Outstanding December 31, 2020		89,935	$	15.00		4.6	$	—
Granted		2,981,678	$	14.58
Outstanding, December 31, 2021		3,071,613	$	13.12		8.5	$	—
Exercisable at December 31, 2021		220,575	$	14.48		6.5	$	—

Summary of Assumptions for Estimated Fair Value of Options

The fair values of the options granted were estimated based on the Black-Scholes model, using the following assumptions:
 

	Year Ended
	December 31, 2021
Expected volatility	72.9% - 82.6%
Risk-free interest rate	0.79% - 1.45%
Expected term (in years)	5.0 - 9.0
Expected dividend yield	0%

Schedule of Equity-based Compensation Expense

Equity-based compensation expense recorded as research and development and general and administrative expenses is as follows (in thousands):

	December 31,
	2021		2020
Research and development	$	600	$	22
General and administrative		1,191		42
Total equity-based compensation	$	1,791	$	64