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Share-Based Payments (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Stock Option Activity

The following table summarizes the stock option activity under the 2016 Stock Plan and the 2020 Stock Plan for the year ended December 31, 2020:

		Number of Stock Options				Weighted- Average Exercise Price				Weighted- Average Remaining Term (years)				Aggregate Intrinsic Value
Outstanding at December 31, 2019			5,306,176			$	4.62				8.99			$	3,214
Granted			2,898,663				10.90
Exercised			(297,000	)			4.09
Cancelled			(210,781	)			4.91
Outstanding at December 31, 2020			7,697,058			$	6.99				8.50			$	266,050
Vested at December 31, 2020			2,148,119			$	4.49				7.90			$	79,625
Non-vested at December 31, 2020			5,548,939			$	7.96				8.74			$	186,425

Schedule of Estimated Fair Value of Stock Options

The Company estimated the fair value of its stock options using the following assumptions:

		Year Ended December 31,
		2020				2019
Risk-free interest rate		0.4 - 1.8%				1.5 – 2.5%
Expected term (in years)			6.3				6.3
Expected volatility		73.5 - 77.6%				72.8 – 73.47%
Expected dividend yield			0	%			0	%

Schedule of Stock-Based Compensation Expense Included In The Company's Consolidated Statements of Operations And Comprehensive Loss

Stock-based compensation expense included in the Company’s consolidated statements of operations and comprehensive loss is as follows:

		Year Ended December 31,
		2020				2019
Research and development expenses		$	14,691			$	2,687
General and administrative expenses			17,269				1,769
		$	31,960			$	4,456

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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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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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.

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