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Share Based Payments (Tables) | 12 Months Ended
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Dec. 31, 2020
Summary of Stock Option Activity | The following is a summary of stock option activity for the year ended December 31, 2020 and 2019:
|  |  |  |  |  | Weighted Average |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Remaining |  |  | Weighted Average |  |  | Aggregate |
|  |  |  |  |  | Contractual |  |  | Exercise Price |  |  | Intrinsic Value |
|  | Number of Options |  |  | Life (in years) |  |  | in USD$ |  |  | in USD$ |
Outstanding as of December 31, 2018 |  |  | 94,475 |  |  |  | 5.16 |  |  | $ | 249.87 |  |  | $ | 8,308 |
Granted |  |  | 33,337 |  |  |  |  |  |  |  | 162.74 |  |  |  |  |
Forfeited |  |  | (13,939 | ) |  |  |  |  |  |  | 298.55 |  |  |  |  |
Exercised (1) |  |  | (14,855 | ) |  |  |  |  |  |  | 96.95 |  |  |  |  |
Outstanding as of December 31, 2019 |  |  | 99,018 |  |  |  | 7.78 |  |  | $ | 236.63 |  |  | $ | — |
Granted |  |  | 42,988 |  |  |  |  |  |  | $ | 15.20 |  |  |  |  |
Forfeited/Cancelled |  |  | (28,448 | ) |  |  |  |  |  |  | 210.57 |  |  |  |  |
Exercised |  |  | — |  |  |  |  |  |  |  | — |  |  |  |  |
Outstanding as of December 31, 2020 |  |  | 113,558 |  |  |  | 7.75 |  |  | $ | 159.33 |  |  | $ | — |
Exercisable as of December 31, 2020 |  |  | 57,725 |  |  |  | 6.56 |  |  | $ | 117.90 |  |  | $ | — |
(1) For the year ended December 31, 2019, 14,855 stock options were exercised on a cashless basis resulting in 13,818 shares being withheld in satisfaction of the exercise price. |
Summary of Company's Restricted Stock Unit Activity | The following is a summary of the Company’s RSU activity for the years ended December 31, 2020 and 2019:
|  | Number of Restricted Stock Units |  |  | Weighted Average Grant Date Fair Value per Unit
Outstanding as of December 31, 2018 |  |  | 27 |  |  | CAD$350.00
Granted |  |  | 788 |  |  | USD$21.17
Vested and settled during 2019 (1) |  |  | (27 | ) |  | CAD$350.00
Outstanding as of December 31, 2019 |  |  | 788 |  |  | USD$21.17
Granted |  |  | 7,172 |  |  | USD$15.25
Settled during 2020 |  |  | (7,792 | ) |  | USD$17.81
Outstanding as of December 31, 2020 |  |  | 168 |  |  | USD$13.20
(1) Includes 7 RSUs withheld to satisfy required withholding taxes. |  |  |  |  |  |
Summary of Stock-Based Compensation Expense is Classified in Condensed Consolidated Statements of Operations and Comprehensive Loss | Stock-Based Compensation Expense Stock-based compensation expense is classified in the Company’s consolidated statements of operations and comprehensive loss as follows (amounts in thousands):
|  | 2020 |  |  | 2019 |
Research and development |  | $ | 933 |  |  | $ | 898 |
Cost of sales |  | $ | (1 | ) |  |  | — |
General and administrative |  |  | 1,597 |  |  |  | 3,793 |
Total |  | $ | 2,529 |  |  | $ | 4,691 |
Employee and Director Stock Options |
Estimation Using Black-Scholes Option Pricing Model With Following Weighted Average Assumptions | The fair value of employee and director stock options granted for the years ended December 31, 2020 and 2019 had a weighted average grant date fair value of $9.71 and $105.38 per option, respectively, and they were estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |
Stock price |  | $15.23 |  |  | $162.74 |
Exercise price |  | $15.23 |  |  | $162.74 |
Expected term |  | 5.32 years |  |  | 5.42 years |
Expected volatility |  |  | 75.35 | % |  |  | 76.90 | %
Risk-free interest rate |  |  | 0.52 | % |  |  | 1.96 | %
Dividend rate |  |  | 0.00 | % |  |  | 0.00 | %
Consultants Stock Options |
Estimation Using Black-Scholes Option Pricing Model With Following Weighted Average Assumptions | Stock options granted to the Company’s consultants for the year ended December 31, 2020 had a weighted average grant date fair value of $8.18 per share, and they were estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions:
|  | Year Ended December 31, |
|  | 2020 |
Stock price |  | $13.58 |
Exercise price |  | $13.58 |
Option term |  | 5.27 years |
Expected volatility |  |  | 73.15 | %
Risk-free interest rate |  |  | 0.33 | %
Dividend rate |  |  | 0.00 | %

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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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