Equity-based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Equity-based Compensation

Schedule of fair value of options granted using the Black-Scholes option pricing model

	Nine Months Ended September 30,
	2022	2021
Fair value of common stock	$1.88 – $3.05	$1.75 – $6.15
Expected volatility	91.09% – 92.72%	100.82% – 101.83%
Risk-free interest rate	1.87% – 3.40%	0.67% – 1.06%
Dividend yield	0.00%	0.00%
Expected term (years)	5.50 – 6.35	5.00 – 6.22

Summary of activity for options

	Options Outstanding
						Weighted
		Weighted-		Aggregate		Average
		Average		Intrinsic		Remaining
	Number of	Exercise		Value		Contractual Life
	Options	Price		(in 000’s)		(In Years)
Balance, December 31, 2021	5,640,438	$	4.19	$	12,002	8.0
Options granted	449,270	$	2.50
Options exercised	(1,739,465)	$	0.92
Options forfeited	(616,334)	$	5.73
Options expired	(463)	$	0.84
Balance, September 30, 2022	3,733,446	$	5.32	$	1,652	6.7
Exercisable as of September 30, 2022	2,163,738	$	4.57	$	1,300	4.6

Schedule of total equity-based compensation expense

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Research and development	$	86	$	(4)	$	402	$	30
General and administrative		691		76		2,268		234
Total equity-based compensation	$	777	$	72	$	2,670	$	264