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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of stock option activity

Weighted

Aggregate

Weighted

average

intrinsic

Number of

average

remaining

value

shares

    

exercise price

    

term (years)

    

(in thousands)

Outstanding as of December 31, 2020 (as previously reported)

486,755

$

10.79

$

8.8

$

19,572

Retroactive application of reverse recapitalization (Note 4)

1,927,548

(8.62)

Outstanding as of December 31, 2020, effect of Merger (Note 4)

2,414,303

$

2.17

8.2

$

53,660

Options granted

892,224

13.95

9.9

3,825

Forfeited

(390,187)

(3.73)

(7,562)

Exercised

(516,025)

(2.23)

(3,645)

Outstanding as of December 31, 2021

2,400,315

$

6.28

7.8

$

4,224

Options granted

1,844,640

1.45

9.4

Forfeited

(742,736)

(5.66)

(0.6)

Expired

(903,765)

(5.79)

Exercised

(49,605)

(0.20)

(3.2)

Outstanding as of December 31, 2022

2,548,849

$

(0.20)

(3.2)

$

2,549

Options vested and exercisable as of December 31, 2022

863,746

$

4.75

6.3

$

148

Summary of recognition of stock-based compensation

The following table summarizes the Company’s recognition of stock-based compensation for the following periods (in thousands):

Years Ended December 31,

2022

    

2021

Stock-based compensation expense

  

 

  

General and administrative

$

3,002

$

6,500

Research and development

 

626

 

1,285

Total stock-based compensation expense

$

3,628

$

7,785

Schedule of restricted stock activity

Awards

Weighted Average Grant Date Fair Value

Balance as of December 31, 2021

-

-

Granted

1,000,000

$ 0.57

Unvested Balance as of December 31, 2022

1,000,000

$ 0.57

Substitute Options  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of fair value determined using the Black-Scholes option-pricing model

    

Original Options

    

Substitute Options

Strike price

$1.00-$72.30

$0.20-$14.58

Volatility rate

 

80.0%

 

80.0%

Risk-free rate

 

0.07%-0.79%

 

0.07%-0.79%

Expected term

 

0.18-5.99

 

0.18-5.99

Dividend yield

 

 

Stock Options  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of fair value determined using the Black-Scholes option-pricing model

December 31,

    

2022

2021

Exercise price

 

$0.51-$3.10

$6.44-$23.41

Risk-free rate of interest

 

1.80%-4.36%

 

0.69%-1.45%

Expected term (years)

 

5.3-6.5

 

5.25-6.5

Expected stock price volatility

 

94.9%-147.8%

 

80.0%-85.9%

Dividend yield