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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Stock-Based Compensation  
Schedule of share-based compensation expense

Stock-based compensation expense was included in general and administrative and research and development costs as follows in the accompanying statements of comprehensive loss:

Year Ended

December 31, 

    

2021

    

2020

Research and development

$

-

$

18

General and administrative

662

681

Total stock-based compensation

$

662

$

699

Schedule of stock option plan activity

Weighted

Weighted

Average

Aggregate

Average

Remaining

Intrinsic

Number of

Exercise

Contractual

Value(1)

Options

Price

Term (years)

(in thousands)

Outstanding at January 1, 2020

633,277

$

0.63

Granted

420,000

$

8.05

Exercised

(84,589)

$

0.63

$

639

Forfeited/Cancelled

(48,333)

$

8.39

Outstanding at December 31, 2020

920,355

$

3.61

8.5

$

2,535

Granted

676,666

$

2.26

Exercised

(182,896)

$

0.63

$

364

Forfeited/Cancelled

(439,126)

$

1.93

Outstanding at December 31, 2021

974,999

$

3.99

9.3

$

-

Vested and expected to vest at December 31, 2021

974,999

$

3.99

9.3

$

-

Options exercisable at December 31, 2021

203,332

$

8.01

8.2

$

-

(1)The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of our common stock per share at December 31, 2021 and 2020, as well as the dates options are exercised. Options with exercise prices above the fair value of the common stock were excluded from the intrinsic value calculations.
Schedule of unvested stock options

The following table summarizes the Company’s unvested stock options as of and for the year ended December 31, 2021:

Weighted

Average

Number of

Grant Date

Options

Fair Value

Nonvested at January 1, 2021

629,127

$

2.48

Granted

676,666

$

1.53

Vested

(95,000)

$

5.10

Forfeited/Cancelled

(439,126)

$

1.35

Nonvested as of December 31, 2021

771,667

$

1.97

Schedule of weighted-average assumptions, option-pricing model

Year Ended

December 31,

    

2021

2020

Expected stock price volatility

79.0-80.4

%

77.4

%

Expected life of options (years)

5.8

5.8

Expected dividend yield

%

%

Risk free interest rate

0.93-1.33

%

1.51

%