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Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2023

Shareholders' Equity

Summary of share option activity

A summary of share option activity is set forth below (in thousands except per share amounts and years):

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OUTSTANDING AWARDS

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NUMBER

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WEIGHTED-

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OF

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NUMBER OF

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AVERAGE

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SHARES

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SHARES

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WEIGHTED-

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REMAINING

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AVAILABLE

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UNDERLYING

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AVERAGE

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CONTRACTUAL

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AGGREGATE

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FOR

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OUTSTANDING

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EXERCISE

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TERM

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INTRINSIC

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GRANT

OPTIONS

PRICE

(IN YEARS)

VALUE

As of December 31, 2022

977

7,612

​

$

1.62

8.57

​

$

13,283

Additional shares authorized

​

12,000

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—

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—

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​

​

​

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Granted

(4,760)

4,760

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5.79

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Exercised

—

(94)

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2.22

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Forfeited

236

(236)

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​

2.83

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As of June 30, 2023

8,453

12,042

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3.24

8.67

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127,869

Exercisable at June 30, 2023

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3,248

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1.23

7.71

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41,028

Vested and expected to vest at June 30, 2023

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12,042

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3.24

8.67

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127,869

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Summary of restricted shares activity

Activity with respect to restricted shares was as follows (in thousands, except per share amounts):

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​	​	​	​	​	​
​		​		​	​
​	​	NUMBER OF SHARES	​	​	​
​	​	UNDERLYING	​	WEIGHTED-
​	​	OUTSTANDING	​	AVERAGE
​	​	RESTRICTED	​	GRANT DATE FAIR
​		SHARES		VALUE
Unvested, December 31, 2022	​	327	​	$	0.33
Vested	​	(327)	​	​	0.33
Unvested, June 30, 2023		—	​		—
​	​	​	​	​	​

Schedule of recognized share-based compensation

The Company recognized share-based compensation as follows (in thousands):

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THREE MONTHS ENDED

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SIX MONTHS ENDED

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JUNE 30,

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JUNE 30,

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2023

2022

2023

2022

Research and development

​

$

584

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$

232

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$

2,176

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$

491

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General and administrative

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1,118

​

411

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2,059

​

772

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Total share-based compensation

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$

1,702

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$

643

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$

4,235

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$

1,263

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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