SHARE-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2020

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 consolidated statements of operations for the three and nine months ended September 30, 2020 and 2019 (in thousands):

	Three Months ended September 30,				Nine Months ended September 30,
	2020		2019		2020		2019
Research and development	$	95	$	(20)	$	266	$	119
General and administrative	358		249		1,085		792
	$	453	$	229	$	1,351	$	911

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 2009 Plan and inducement grants made outside of stockholder approved plans, for the nine months ended September 30, 2020:

	Number of Shares under Option (in thousands)	Weighted-average Exercise Price per Option	Weighted-average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2019	6,236	$1.52	8.8	$	358
Granted	4,044	$0.87
Exercised	—	$0.00
Canceled or forfeited	(53)	$0.84
Outstanding at September 30, 2020	10,227	$1.26	8.6	$	3,541
Exercisable at September 30, 2020	3,637	$1.73	8.0	$	786

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

For the nine months ended September 30, 2020 and 2019, 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, 2020	September 30, 2019
Fair value of common stock	$0.56	$0.69
Exercise price	$0.87	$1.02
Expected term (in years)	6.10	5.98
Risk-free interest rate	1.3	2.1
Expected volatility	71.5	78.1
Dividend yield	—%	—%