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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2022
Stock-Based Compensation  
Schedule of stock-based compensation expense attributable to share-based payments made to employees and directors and included in operating expenses

Three Months Ended

Six Months Ended

    

June 30, 

June 30, 

(in thousands)

2022

    

2021

2022

    

2021

Stock-based compensation:

    

    

Research and development

Employee Stock Purchase Plan

$

9

    

$

3

$

15

    

$

15

Equity Incentive Plan

52

    

50

141

    

418

$

61

    

$

53

$

156

    

$

433

General and administrative

 

 

Employee Stock Purchase Plan

$

1

    

$

1

$

3

    

$

3

Equity Incentive Plan

500

    

350

948

    

1,079

$

501

    

$

351

$

951

    

$

1,082

Total stock-based compensation expense

$

562

    

$

404

$

1,107

    

$

1,515

Schedule of weighted average assumptions applied to options

    

2022

    

2021

 

Average risk-free interest rate

 

2.3%

0.4%

Expected dividend yield

 

Expected lives (years)

 

4.0

3.6

Expected volatility

 

102%

87%

Weighted average exercise price (per share)

$

0.53

$

3.66

Schedule of information related to outstanding and exercisable options

($ in thousands, except per share data)

Stock
Options

Weighted-Average
Exercise Price

Weighted-Average
Remaining
Contractual Life
(in years)

Aggregate

Intrinsic

Value

 

Outstanding at December 31, 2021

 

5,202,006

$

8.06

 

5.9

$

2,949

Granted

 

660,700

0.53

Exercised

 

Forfeited

 

Expired

 

(588,038)

2.87

Outstanding at June 30, 2022 (1)

 

5,274,668

$

7.70

6.6

$

Exercisable at June 30, 2022

 

3,818,724

$

10.16

5.6

$

(1)Includes both vested stock options as well as unvested stock options for which the requisite service period has not been rendered but that are expected to vest based on achievement of a service condition.
Schedule of information related to restricted stock activity

Time-based Awards

 

Market/Performance-based Awards

($ in thousands, except per share data)

Number of Shares

Weighted-Average

Grant Date

Fair Value

 

Number of Shares

Weighted-Average

Grant Date

Fair Value

Nonvested shares at December 31, 2021

 

68,675

$

2.30

 

507,028

$

1.54

Granted

 

 

 

 

Cancelled

 

 

 

 

Vested

 

(27,212)

 

2.43

 

 

Nonvested shares at June 30, 2022

 

41,463

$

2.21

 

507,028

$

1.54