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Shareholders' Equity (Tables) | 6 Months Ended
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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):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | OUTSTANDING AWARDS
​ | ​ | NUMBER | ​ | ​ | ​ | ​ | ​ | ​ | WEIGHTED- | ​ | ​ | ​
​ | ​ | OF | ​ | NUMBER OF | ​ | ​ | ​ | ​ | AVERAGE | ​ | ​ | ​
​ | ​ | SHARES | ​ | SHARES | ​ | WEIGHTED- | ​ | REMAINING | ​ | ​ | ​
​ | ​ | AVAILABLE | ​ | UNDERLYING | ​ | AVERAGE | ​ | CONTRACTUAL | ​ | AGGREGATE
​ | ​ | FOR | ​ | OUTSTANDING | ​ | EXERCISE | ​ | TERM | ​ | INTRINSIC
​ |  | 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 | ​ | — | ​ | ​ | — | ​ | ​ | ​ | ​ | ​
Granted |  | (4,760) |  | 4,760 | ​ | ​ | 5.79 |  |  | ​ |  |
Exercised |  | — |  | (94) | ​ | ​ | 2.22 |  |  | ​ |  |
Forfeited |  | 236 |  | (236) | ​ | ​ | 2.83 |  |  | ​ |  |
As of June 30, 2023 |  | 8,453 |  | 12,042 | ​ | ​ | 3.24 |  | 8.67 | ​ |  | 127,869
Exercisable at June 30, 2023 | ​ | ​ |  | 3,248 | ​ | ​ | 1.23 |  | 7.71 | ​ |  | 41,028
Vested and expected to vest at June 30, 2023 | ​ | ​ |  | 12,042 | ​ | ​ | 3.24 |  | 8.67 | ​ |  | 127,869
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Summary of restricted shares activity | Activity with respect to restricted shares was as follows (in thousands, except per share amounts): ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​
​ | ​ | 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 | ​ | SIX MONTHS ENDED | ​
​ | ​ | JUNE 30, | ​ | JUNE 30, | ​
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022 |
Research and development | ​ | $ | 584 | ​ | $ | 232 | ​ | $ | 2,176 | ​ | $ | 491 | ​
General and administrative | ​ |  | 1,118 | ​ |  | 411 | ​ |  | 2,059 | ​ |  | 772 | ​
Total share-based compensation | ​ | $ | 1,702 | ​ | $ | 643 | ​ | $ | 4,235 | ​ | $ | 1,263 | ​
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