Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2021

Share-Based Compensation

Schedule of Stock option and restricted stock unit activity

The Company has granted options to purchase common stock under the Plan. Stock option activity during the three months ended March 31, 2021 was as follows:

	Stock Options
		Weighted –
		average
	Amount	exercise price
Outstanding at December 31, 2020	1,599,720	$	6.33
Granted	16,413		1.80
Canceled	—		—
Outstanding at March 31, 2021	1,616,134	$	6.31

Schedule of weighted average assumptions

The Company uses the Black-Scholes option pricing model to value its stock options. The weighted average assumptions for valuing options granted during the three months ended March 31, 2021 were as follows:

Risk-free interest rate	0.47	%
Expected volatility	123.20	%
Expected term	5.3	years
Expected dividend yield	n/a

Schedule of share-based compensation expense

The Company recorded share-based compensation expense in the following expense categories of its consolidated statements of operations:

	Three Months Ended March 31,
	2021		2020
	(In thousands)
Research and development	$	80	$	92
General and administrative		50		496
Total share-based compensation	$	130	$	588