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Stock Incentive Plans | 3 Months Ended
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Mar. 31, 2022
Stock Incentive Plans |
Stock Incentive Plans | 10. Stock Incentive Plans A summary of the Company’s stock option activity and related information follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Average | ​ | Aggregate
​ | ​ | ​ | ​ | Weighted- | ​ | Remaining | ​ | Intrinsic
​ | ​ | ​ | ​ | Average | ​ | Contractual | ​ | Value
​ |  | Shares |  | Exercise Price |  | Term (years) |  | (in thousands)
Outstanding at December 31, 2021 |  | 1,346,733 | ​ | $ | 22.25 |  | 9.02 | ​ | $ | 168
Granted |  | 650,150 | ​ | $ | 6.48 | ​ | ​ | ​ | ​ | ​
Cancelled or forfeited |  | (34,233) | ​ | $ | 17.56 | ​ | ​ | ​ | ​ | ​
Outstanding at March 31, 2022 | ​ | 1,962,650 | ​ | $ | 17.11 | ​ | 9.14 | ​ | $ | 381
Vested and exercisable at March 31, 2022 |  | 175,632 | ​ | $ | 58.41 | ​ | 7.27 | ​ | $ | 228
​ There were no stock options exercised in the three months ended March 31, 2022 and 2021. The total grant date fair value of stock options vested for the three months ended March 31, 2022 and 2021 was $0.6 million and $0.5 million, respectively. The weighted-average grant date fair value of options granted to employees and non-employees for the three months ended March 31, 2022 and 2021 was $4.05 and $9.00, respectively. At March 31, 2022, the total unrecognized compensation expense related to unvested stock option awards was $11.9 million. The Company expects to recognize that cost over a weighted-average period of approximately 3.0 years. On February 17, 2022, the Company’s Board of Directors adopted the 2022 Inducement Stock Incentive Plan (the “Inducement Plan”). The Inducement Plan provides for the grant of nonstatutory stock options, stock appreciation rights, restricted stock, restricted stock units and other stock-based awards (collectively, the “stock awards”) with respect to an aggregate of 300,000 shares of the Company’s common stock. Awards under the Inducement Plan may only be granted to persons who (a) were not previously an employee or director of the Company or (b) are commencing employment with the Company following a bona fide period of non-employment, in either case as an inducement material to the individual’s entering into employment with the Company and in accordance with the requirements of Nasdaq Stock Market Rule 5635(c)(4). As of March 31, 2022, there have been no grants issued under the Inducement Plan and 300,000 shares of common stock remained available for future issuance.

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