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SHARE-BASED COMPENSATION (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]    
Schedule of Share-Based Compensation Expense

The following table sets forth the amount of share-based compensation expense recognized by the Company by line item on its Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2022 and 2021 (in thousands):

    

Three Months Ended 

    

Nine Months Ended 

September 30,

September 30,

    

2022

    

2021

    

2022

    

2021

Research and development

$

863

$

152

$

1,838

$

536

General and administrative

1,305

1,016

4,026

2,849

Total Share Based Compensation

$

2,168

$

1,168

$

5,864

$

3,385

The following table sets forth the amount of share-based compensation expense recognized by the Company by line item on its Consolidated Statements of Operations and Comprehensive Loss for the years ended December 31, 2021, 2020 and 2019 (in thousands):

    

Year ended December 31,

    

2021

    

2020

    

2019

Research and development

$

973

$

350

$

188

General and administrative

 

4,170

 

1,407

 

1,049

Total Share Based Compensation

$

5,143

$

1,757

$

1,237

Schedule of the Status of Restricted Stock Units

The following table sets forth a summary of the Company’s RSU and PSU activity for the nine months ended September 30, 2022:

Restricted Stock

Weighted Average

Units

Grant Date Fair

    

(in thousands)

    

Value

Unvested at December 31, 2021

3,041

$

0.80

Granted RSU

4,160

$

0.68

Cancelled RSU

(217)

$

0.75

Released RSU

(3,293)

$

0.76

Granted PSU

1,004

$

0.67

Unvested at September 30, 2022

4,695

$

0.68

    

Restricted Stock 
Units 
(in thousands)

Unvested at December 31, 2020

 

Granted RSU

 

2,482

Granted PSU

 

559

Unvested at December 31, 2021

 

3,041

Schedule of Stock Option Activity

The following table sets forth a summary of the Company’s total stock option activity, including awards granted under the 2014 Plan and the 2009 Plan and inducement grants made outside of stockholder approved plans, for the nine months ended September 30, 2022:

Weighted-

Average

Number of

Remaining

Aggregate

Shares under

Weighted-

 Contractual

 Intrinsic

Option

Average

 Life

Value

    

(in thousands)

    

Exercise Price

    

(in years)

    

(in thousands)

Outstanding at December 31, 2021

15,703

$

1.93

8.03

$

82

Granted

1,510

$

0.72

  

Exercised

  

Canceled or forfeited

(1,011)

2.10

  

Outstanding at September 30, 2022

16,202

$

1.81

7.41

DM

Exercisable at September 30, 2022

10,494

$

1.72

 

6.94

DM

    

    

    

Weighted-

    

Average

Number of 

Remaining

Aggregate

Shares under

Weighted-

Contractual

Intrinsic

Option

Average

Life

Value

(in thousands)

Exercise Price

(in years)

(in thousands)

Outstanding at December 31, 2018

 

3,942

$

2.12

 

9.14

$

57

Granted

 

3,986

$

1.02

 

  

 

  

Exercised

 

(90)

$

1.10

 

  

 

  

Canceled or forfeited

 

(1,602)

$

1.78

 

  

 

  

Outstanding at December 31, 2019

 

6,236

$

1.52

 

8.83

$

358

Granted

 

4,044

$

0.87

 

  

 

  

Exercised

 

(12)

$

1.13

 

  

 

  

Canceled or forfeited

 

(121)

$

1.04

 

  

 

  

Outstanding at December 31, 2020

 

10,147

$

1.26

 

8.50

$

3,160

Granted

 

8,273

$

3.32

 

  

 

  

Exercised

 

(34)

$

1.23

 

  

 

  

Canceled or forfeited

 

(2,683)

$

3.70

 

  

 

  

Outstanding at December 31, 2021

 

15,703

$

1.93

 

8.03

$

82

Exercisable at December 31, 2021

 

7,562

$

1.65

 

7.41

$

59

Schedule of Weighted-Average Inputs and Assumptions in Black-Scholes Option

For the nine months ended September 30, 2022 and 2021, the grant-date fair value of stock options was determined using the following weighted-average inputs and assumptions in the Black-Scholes option pricing model:

    

September 30, 2022

    

September 30, 2021

 

Fair market value

$

0.72

$

3.40

Grant exercise price

$

0.72

$

3.40

Expected term (in years)

 

6.0

 

6.03

Risk-free interest rate

 

2.1

%  

 

0.9

%

Expected volatility

 

71.8

%  

 

74.6

%

Dividend yield

 

%  

 

%

Year ended December 31,

    

2021

    

2020

    

2019

 

Fair market value

$

3.32

$

0.87

$

1.02

Grant exercise price

$

3.32

$

0.87

$

1.02

Expected term (in years)

 

6.0

 

6.1

 

6.0

Risk-free interest rate

 

0.9

%  

 

1.3

%  

 

2.1

%

Expected volatility

 

74.6

%  

 

71.5

%  

 

78.1

%

Dividend yield

 

%  

 

%  

 

%