Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.22.2.2
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 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, 2021

 

2,400,315

$

6.28

 

7.8

$

4,224

Granted

 

552,000

3.00

 

10.0

Forfeited

 

(45,367)

(14.05)

 

(9.1)

Outstanding as of March 31, 2022

2,906,948

$

5.54

8.0

$

1,006

Granted

350,000

0.52

10.0

Forfeited

(550,833)

(3.76)

Outstanding as of June 30, 2022

2,706,115

$

5.20

7.7

$

174

Granted

80,000

0.69

10.0

Forfeited

(131,536)

(11.31)

Outstanding as of September 30, 2022

2,654,579

$

4.86

7.5

$

278

Options vested and exercisable as of September 30, 2022

1,064,852

$

3.84

5.5

$

196

Summary of recognition of stock-based compensation

Three months ended September 30, 

Nine months ended September 30, 

    

2022

    

2021

    

2022

    

2021

Stock-based compensation expense

 

  

 

  

 

  

 

  

General and administrative

$

506

$

1,340

$

2,390

$

5,779

Research and development

 

35

 

220

 

472

 

436

Total stock-based compensation expense

$

541

$

1,560

$

2,862

$

6,215

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 September 30, 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

September 30, 2022

December 31, 2021

    

(Unaudited)

Exercise price

 

$0.51-$3.10

$6.44-$23.41

Risk-free rate of interest

 

1.80%-3.62%

 

0.69%-1.45%

Expected term (years)

 

5.45-6.5

 

5.25-6.5

Expected stock price volatility

 

94.9%-147.8%

 

80.0%-85.9%

Dividend yield