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Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of stock option activity

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​	​	​	​	​	​	​	​	​	​	​
​		​		Weighted			Weighted-			​
​	​	​	​	Average		​	Average	​	Aggregate
​	​	​	​	Exercise		​	Contractual	​	Intrinsic
​	​	Options Outstanding	​	Price Per Share		​	Life (in years)	​	Value
Outstanding, December 31, 2023		7,049,290	​	$	0.82		8.23	​	$	2,017
Granted		1,605,070	​	​	1.51		​			​
Exercised		(306,470)	​	​	0.27		​		​	350
Forfeited and expired		(22,015)	​	​	0.27		​			​
Outstanding and expected to vest, September 30, 2024	​	8,325,875	​	$	0.97	​	7.97	​	$	1,206
Exercisable, September 30, 2024		3,703,963	​	$	0.63		6.69	​	$	1,145

Schedule of activity related to restricted stock units

The following is a summary of RSU activity during the nine months ended September 30, 2024:

​	​	​	​	​	​
​	​	​	​	Weighted Average
​	​	​	​	Grant Date Fair
​		Shares		Value
Non-vested at December 31, 2023		11,517,422	​	$	2.20
Granted		7,305,872	​	​	1.07
Vested		(3,810,319)	​	​	2.61
Forfeited		(771,925)	​	​	1.82
Non-vested at September 30, 2024		14,241,050	​	$	1.54

Schedule of total stock-based compensation expenses

The table below summarizes total stock-based compensation expenses for the three and nine months ended September 30, 2024 and 2023, respectively (in thousands):

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Three Months Ended September 30,

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Nine Months Ended September 30,

​

​

2024

2023

2024

2023

​

Research and development

​

$

2,379

​

$

2,990

​

$

6,567

​

$

6,893

​

Selling, general and administrative expenses

​

​

1,048

​

​

678

​

​

3,138

​

​

1,834

​

Total stock-based compensation expenses

​

$

3,427

​

$

3,668

​

$

9,705

​

$

8,727

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​

Stock Options

Schedule of weighted average assumptions used as inputs in the valuation of stock options granted

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​	​	​
​	​	Time-based Stock Option
Valuation Assumptions	​	Grants
Strike price	​	$0.98 - $2.03
Annual volatility (%)	​	113% - 130%
Risk- free rate (%)	​	4.24% - 4.45%
Expected term (years)	​	5.50 - 6.02

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of the total intrinsic value of options exercised (or share units converted), share-based liabilities paid, and the total fair value of shares vested during the year.

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