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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Stock-Based Compensation  
Schedule of assumptions in its application of the Black-Scholes option pricing model for grants

Year Ended December 31, 

    

2021

    

2020

Weighted-average risk-free interest rate

0.89% - 1.71%

0.36% - 1.45%

Expected term (in years)

5.83 - 10 years

5.92 - 10 years

Expected dividend yield

0%

0%

Expected volatility

66.76% - 80.99%

67.30% - 80.85%

Summary of stock option activity

    

    

Weighted

    

Weighted-

Average

Average

Remaining

Number of

Exercise Price

Contractual

Aggregate

Options

per Share

    

Term (in Years)

Intrinsic Value

 

  

 

  

 

  

 

  

Outstanding at of December 31, 2020

 

1,801,263

$

3.01

 

 

  

Granted

 

1,452,462

10.07

 

  

Exercised

 

(117,847)

3.01

 

  

Cancelled

 

(276,334)

3.58

 

  

Outstanding at December 31, 2021

 

2,859,544

$

6.55

8.30

$

27,615,466

 

Vested and exercisable at December 31, 2021

 

1,102,543

$

3.01

 

7.14

$

14,507,723

Vested and expected to vest at December 31, 2021

2,859,544

$

6.55

 

8.30

$

27,615,466

Summary of recognized share-based compensation expense recognized

Year Ended December 31, 

    

2021

    

2020

    

Cost of revenue

$

103,329

$

108,027

Research and development

 

768,679

 

503,111

General and administrative

 

930,615

 

475,631

Total

$

1,802,623

$

1,086,769