Stock-based compensation expense for the three months ended March 31, 2022 and 2021 was classified in the condensed consolidated statement of operations as follows:


	Three Months Ended March 31,
	2022		2021
	(000’s)
Research and development	$	375	$	139
General and administrative		1,199		809
Total	$	1,574	$	948

As of March 31, 2022, remaining unrecognized stock-based compensation cost from all plans to be recognized in future periods totaled $14.0 million.

Prior to the adoption of the 2020 Plan, the Company issued restricted stock. A summary of the Company’s restricted stock activity during the three months ended March 31, 2022 is as follows:


	Shares			Fair Value
Weighted Average Fair Value	(000’s)			Per Share
Unvested, December 31, 2021		471		$	1.76
Granted		—		$	—
Vested		(73	)	$	1.82
Forfeited or canceled		(17	)	$	1.80
Unvested, March 31, 2022		381		$	1.75

As of March 31, 2022, the total unrecognized compensation cost related to stock compensation expense for restricted stock is $0.7 million, expected to be recognized over a weighted average period of 1.6 years.

In June 2020, the Company’s board of directors adopted the 2020 Stock Option and Incentive Plan (the “2020 Plan”) and reserved 2.9 million shares of common stock for issuance under this plan. The 2020 Plan includes automatic annual increases. The increase on January 1, 2022 was 4.2 million shares. As of March 31, 2022, 2.3 million shares remain available for future grant.

The 2020 Plan authorizes the board of directors or a committee of the board to grant incentive stock options, nonqualified stock options, restricted stock awards and restricted stock units ("RSUs") to eligible officers, employees, consultants and directors of the Company. Options generally vest over a period of four years and have a contractual life of ten years from the date of grant.

The following table summarizes the stock option activity for the 2020 Plan:


				Weighted		Weighted
				Average		Average		Aggregate
	Number of			Exercise		Remaining		Intrinsic
	Unvested			Price		Contractual		Value
	Options			Per Share		Life (in years)		(000's)
Outstanding at December 31, 2021		3,659		$	4.99		8.67
Granted		1,964		$	2.31		9.88
Exercise		—
Forfeited/cancelled		(100	)	$	4.11
Outstanding at March 31, 2022		5,523		$	4.07		9.14	$	6
Vested at March 31, 2022		1,847		$	4.93		8.53	$	—

For the three months ended March 31, 2022, the weighted average grant date fair value for options granted was $1.77. There was no intrinsic value for options vested as of March 31, 2022. As of March 31, 2022, the total unrecognized compensation cost related to outstanding options was $9.2 million, to be recognized over a weighted average period of 3.1 years.

For the three months ended March 31, 2021, the weighted average grant date fair value for options granted was $3.58. There was no intrinsic value for options vested as of March 31, 2021.

The weighted average assumptions used in the Black-Scholes pricing model to determine the fair value of stock options granted during the three months ended March 31, 2022 and 2021 were as follows:


	Three Months Ended March 31,
		2022		2021
Expected term (in years)		6.0		6.1
Risk-free rate		1.85	%	0.66	%
Expected volatility		94.0	%	85.9	%

RSUs:

The following table summarizes the RSU activity for the 2020 Plan:


	Shares (000's)		Weighted Average Price Per Share		Weighted Average Fair Value (000's)
Unvested, December 31, 2021		1,200	$	3.83	$	4,596
Granted		—		—		—
Vested		—		—		—
Forfeited or canceled		—		—		—
Unvested, March 31, 2022		1,200	$	3.83	$	4,596

Weighted average price per share is the weighted grant price based on the closing market price of each of the stock grants. The weighted average fair value is the weighted average share price times the number of shares.

As of March 31, 2022, remaining unrecognized compensation cost related to RSUs to be recognized in future periods totaled $4.2 million, which is expected to be recognized over a weighted average period of 3.6 years.