SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 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 and comprehensive (loss) income for the three and six months ended June 30, 2021 and 2020 (in thousands):

	Three Months ended June 30,				Six Months ended  June 30,
	2021		2020		2021		2020
Research and development	$	207	$	91	$	386	$	171
General and administrative	1,052		400		1,831		727
	$	1,259	$	491	$	2,217	$	898

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 six months ended June 30, 2021:

	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, 2020	10,147	$1.26	8.5	$	3,160
Granted	7,233	$3.34
Exercised	(31)	$1.27
Canceled or forfeited	—	—
Outstanding at June 30, 2021	17,349	$2.13	8.6	$	43,999
Exercisable at June 30, 2021	5,719	$1.57	7.6	$	18,214

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

For the six months ended June 30, 2021 and 2020, 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:

	June 30, 2021	June 30, 2020
Fair market value	$3.34	$0.87
Grant exercise price	$3.34	$0.87
Expected term (in years)	6.04	6.02
Risk-free interest rate	0.9	1.4
Expected volatility	74.7	71.3
Dividend yield	—%	—%