Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Share-Based Compensation Expense

The following table summarizes the components of share-based compensation expense for the years ended December 31, 2021 and 2020 ($ in thousands):

	Year Ended December 31,
	2021		2020
Research and development	$	760	$	179
General and administrative	1,245		1,086
Total share-based compensation expense	$	2,005	$	1,265

Total compensation cost related to unvested awards not yet recognized and the weighted-average periods over which the awards are expected to be recognized at December 31, 2021 were as follows ($ in thousands):

	Stock Options		Restricted Stock Units		Restricted Stock
Unrecognized compensation cost	$	757	$	149	$	546
Expected weighted-average period in years of compensation cost to be recognized	1.64		1.57		1.70

Schedule of Fair Value of Shares Vested and Weighted Average Estimated Fair Values of Shares Granted

Total fair value of shares vested and the weighted average estimated fair values of shares granted for the years ended December 31, 2021 and 2020 were as follows ($ in thousands):

	Stock Options
	Year Ended December 31,
	2021		2020
Total fair value of shares vested	$	757	$	536
Weighted average estimated fair value of shares granted	0.91		2.11

Schedule of Assumptions in Calculating Fair Values of Stock Options

The range of assumptions made in calculating the fair values of stock options was as follow:

	Stock Options
	Year Ended December 31,
	2021	2020
Expected term - minimum (in years)	6	6
Expected term - maximum (in years)	6	6
Expected volatility - minimum	79%	75%
Expected volatility - maximum	84%	79%
Weighted Average volatility	81%	75%
Expected dividend yield	—	—
Risk-free interest rate - minimum	0.63%	0.40%
Risk-free interest rate - maximum	1.16%	1.71%