Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-Based Compensation

Schedule of stock option activity

Stock option activity under the Plan for the year ended December 31, 2021 was as follows:

		Weighted-average		Weighted-average	Aggregate intrinsic
	Amount	exercise price		contractual life (years)	value (in thousands)
Outstanding at December 31, 2020	1,599,720	$	6.33	5.77	$	—
Granted	1,253,336		2.15
Canceled / forfeited	(520,453)		7.73
Outstanding at December 31, 2021	2,332,603	$	3.93	8.30	$	294
Options exercisable	1,074,760	$	5.48	6.83	$	129
Options vested and expected to vest	2,261,832	$	3.83

Schedule of weighted average assumptions

The weighted average assumptions for valuing the Company’s stock options granted were as follows:

	Year Ended December 31,
	2021		2020
Risk-free interest rate	1.21	%	0.68	%
Expected volatility	120.86	%	111.47	%
Expected term (in years)	5.6	years	4.4	years
Expected dividend yield	—	%	—	%

Schedule of share-based compensation expense

Share-based compensation expense related to the Plan for the years ended December 31, 2021 and 2020 was allocated as follows:

	Years Ended December 31,
	2021		2020
	(in thousands)
Research and development	$	495	$	311
Selling, general and administrative		485		833
Total stock-based compensation	$	980	$	1,144