Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.22.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of fair value determined using the Black-Scholes option-pricing model

March 31, 2022

December 31, 2021

    

(Unaudited)

Exercise price

 

$2.61-$3.10

$6.44-$23.41

Risk-free rate of interest

 

1.80%-2.56%

 

0.69%-1.45%

Expected term (years)

 

5.5-6.5

 

5.25-6.5

Expected stock price volatility

 

82.8%

 

80.0%-85.9%

Dividend yield

 

 

Schedule of share-based compensation arrangements by share-based payment award

The following table summarizes the Company’s employee and non-employee stock option activity under the Plan for the following periods:

Weighted

Aggregate

Weighted

average

intrinsic

Number of

average

remaining

value

    

shares

    

exercise price

    

term (years)

    

(in thousands)

Outstanding as of December 31, 2021

 

2,400,315

$

6.28

 

7.8

$

4,224

Granted

 

552,000

3.00

 

10.0

Forfeited

 

(45,367)

(14.05)

 

Outstanding as of March 31, 2022

2,906,948

$

5.54

8.0

$

1,006

Options vested and exercisable as of March 31, 2022

1,131,708

$

3.09

6.2

$

969

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):

Three months ended March 31, 

2022

    

2021

Stock-based compensation expense

  

 

  

General and administrative

$

1,116

$

344

Research and development

 

218

 

28

Total stock-based compensation expense

$

1,334

$

372

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