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Stock-Based Payments (Tables)

9 Months Ended

Sep. 30, 2021

Summary of Company's Stock Option Activity

The following is a summary of the Company’s stock option activity during the nine months ended September 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			554,615								15.05				—
Forfeited/Cancelled			(26,807	)							64.55				—
Exercised			(214	)							10.50				1
Outstanding as of September 30, 2021			641,152				9.24			$	38.54			$	—
Exercisable as of September 30, 2021			271,433				8.72			$	66.81			$	—

Summary of Company's Restricted Stock Award Activity

The following is a summary of the Company’s RSU award activity for the nine months ended September 30, 2021:

		Number of RSUs				Weighted Average Grant Date Fair Value per Unit
Outstanding as of December 31, 2020			168			$	13.20
Granted			9,871				15.41
Forfeited			(2,668	)			14.50
Settled			(3,428	)			15.56
Outstanding as of September 30, 2021			3,943			$	15.81

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 September 30,								Nine Months Ended September 30,
		2021				2020				2021				2020
Research and development		$	156			$	245			$	540			$	727
Cost of sales			2				—				5				(1	)
Selling, general and administrative			582				205				3,351				1,295
Total		$	740			$	450			$	3,896			$	2,021

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 nine months ended September 30, 2021 was $10.67 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:

		Nine Months Ended September 30, 2021
Stock price		$	15.14
Exercise price		$	15.05
Expected term		7.04 years
Expected volatility			78.27	%
Risk-free interest rate			1.18	%
Dividend rate			0.00	%

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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.

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