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Stock-Based Payments (Tables) | 6 Months Ended
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Jun. 30, 2021
Summary of Company's Stock Option Activity | The following is a summary of the Company’s stock option activity during the six months ended June 30, 2021:
|  |  |  |  |  | Weighted Average |  |  |  |  |  |  | Aggregate |
|  |  |  |  |  | Remaining |  |  | Weighted |  |  | Intrinsic |
|  | Number of |  |  | Contractual |  |  | Average |  |  | Value |
|  | Stock Options |  |  | Life (in years) |  |  | Exercise Price |  |  | (in thousands) |
Outstanding as of December 31, 2020 |  |  | 113,558 |  |  | 7.75 |  |  | $ | 159.33 |  |  | $ | — |
Granted |  |  | 532,068 |  |  |  |  |  |  |  | 15.00 |  |  |  | — |
Forfeited/Cancelled |  |  | (14,396 | ) |  |  |  |  |  |  | 105.15 |  |  |  | — |
Exercised |  |  | (214 | ) |  |  |  |  |  |  | 10.50 |  |  |  | — |
Outstanding as of June 30, 2021 |  |  | 631,016 |  |  |  | 9.47 |  |  | $ | 38.92 |  |  | $ | — |
Exercisable as of June 30, 2021 |  |  | 252,920 |  |  |  | 8.97 |  |  | $ | 26.73 |  |  | $ | — |
Summary of Company's Restricted Stock Award Activity | The following is a summary of the Company’s RSU award activity for the six months ended June 30, 2021:
|  | Number of RSUs |  |  | Weighted Average Grant Date Fair Value per Unit |
Outstanding as of December 31, 2020 |  |  | 168 |  |  | $ | 13.20 |
Granted |  |  | 9,150 |  |  |  | 15.46 |
Settled |  |  | (1,028 | ) |  |  | 14.50 |
Outstanding as of June 30, 2021 |  |  | 8,290 |  |  | $ | 15.53 |
Summary of Stock-Based Compensation Expense is Classified in Condensed Consolidated Statements of Operations and Comprehensive Loss | Stock-based compensation expense is classified in the Company’s condensed consolidated statements of operations and comprehensive loss as follows (amounts in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Research and development |  | $ | 162 |  |  | $ | 243 |  |  | $ | 384 |  |  | $ | 482 |
Cost of sales |  |  | 3 |  |  |  | (2 | ) |  |  | 3 |  |  |  | (1 | )
Selling, general and administrative |  |  | 2,464 |  |  |  | 488 |  |  |  | 2,769 |  |  |  | 1,090 |
Total |  | $ | 2,629 |  |  | $ | 729 |  |  | $ | 3,156 |  |  | $ | 1,571 |
Employee and Director Stock Options |
Estimation Using Black-Scholes Option Pricing Model With Following Weighted Average Assumptions | The weighted average grant date fair value of employee and director stock options granted for the six months ended June 30, 2021 was $11.27 per option and the grant date fair values of these stock options were estimated using the Black-Scholes option pricing model using the following weighted average assumptions:
|  | Six Months Ended June 30, 2021 |
Stock price |  | $ | 15.10 |
Exercise price |  | $ | 15.00 |
Expected term |  | 7.17 years |
Expected volatility |  |  | 1.19 | %
Risk-free interest rate |  |  | 85.99 | %
Dividend rate |  |  | 0.00 | %

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