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Share-Based Payment Awards (Tables) | 3 Months Ended
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Mar. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock Option Activity Under Plan | The following table provides a reconciliation of stock option activity under the Company’s equity incentive plans and for inducement awards for the three months ended March 31, 2022:
|  |  |  |  |  |  |  |  |  | Weighted |  |  |  |  |
|  |  |  |  |  | Weighted |  |  | Average |  |  |  |  |
|  |  |  |  |  | Average |  |  | Remaining |  |  | Aggregate |
|  | Number |  |  | Exercise |  |  | Contractual |  |  | Intrinsic |
|  | of Options |  |  | Price |  |  | Life |  |  | Value |
|  |  |  |  |  |  |  |  |  | (in years) |  |  | (in thousands) |
Outstanding at January 1, 2022 |  |  | 2,517,680 |  |  | $ | 16.49 |  |  |  |  |  |  |  |  |
Granted |  |  | 1,473,800 |  |  |  | 10.49 |  |  |  |  |  |  |  |  |
Exercised |  |  | (4,223 | ) |  |  | 9.44 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (13,155 | ) |  |  | 13.39 |  |  |  |  |  |  |  |  |
Outstanding at March 31, 2022 |  |  | 3,974,102 |  |  | $ | 14.29 |  |  |  | 8.57 |  |  | $ | 3,255 |
Exercisable at March 31, 2022 |  |  | 1,202,550 |  |  | $ | 20.35 |  |  |  | 6.64 |  |  | $ | 122 |
Schedule of Key Assumptions Used | In determining the grant date fair value of option awards during the three months ended March 31, 2022, the Company applied the Black-Scholes option pricing model based on the following key assumptions:
Option life (in years) |  | 5.50 - 6.08 |
Stock volatility |  | 76% - 78% |
Risk-free interest rate |  | 1.46% - 2.12% |
Expected dividends |  | 0.0% |
Summary of Information about Stock Options | The following table summarizes information about employee, non-executive director and external consultant stock options for the three months ended March 31, 2022 (in thousands except per share amount):
|  | Three Months |
|  | Ended |
|  | Mar 31, 2022 |
Weighted-average grant date fair value per share |  | $ | 7.06 |
Total cash received from exercise of stock options |  |  | 40 |
Total intrinsic value of stock options exercised |  |  | 13 |
Summary of Restricted Stock Unit Activity | The following table provides a reconciliation of RSU activity under the 2016 Plan for the three months ended March 31, 2022:
|  |  |  |  |  | Weighted |
|  | Number of |  |  | Average |
|  | Restricted |  |  | Grant Date |
|  | Stock Units |  |  | Fair Value |
Nonvested at January 1, 2022 |  |  | 291,575 |  |  | $ | 13.19 |
Granted |  |  | 403,500 |  |  |  | 10.13 |
Vested |  |  | (132,724 | ) |  |  | 13.57 |
Forfeited |  |  | (2,765 | ) |  |  | 13.51 |
Nonvested at March 31, 2022 |  |  | 559,586 |  |  | $ | 10.89 |
Compensation Expense from Stock-Based Payment Awards | The Company’s consolidated statements of comprehensive loss included total compensation expense from stock-based payment awards for the three months ended March 31, 2022 and 2021, respectively, as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2022 |  |  | 2021 |
Compensation expense included in: |  |  |  |  |  |  |  |
Research and development |  | $ | 1,473 |  |  | $ | 484 |
Sales and marketing |  |  | 409 |  |  |  | 263 |
General and administrative |  |  | 1,595 |  |  |  | 241 |
|  | $ | 3,477 |  |  | $ | 988 |

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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