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Share-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2021
Share-Based Compensation |
Summary of option activity under 2021 Plan and 2018 Plan | The following table summarizes the option activity under the 2021 Plan and 2018 Plan for the six months ended June 30, 2021:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ |  | ​ | Weighted- | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted- | ​ | Average | ​ | ​ | ​
​ | ​ | ​ | ​ | Average | ​ | Remaining | ​ | Aggregate
​ | ​ | ​ | ​ | Exercise | ​ | Contractual Term | ​ | Intrinsic Value
​ |  | Options |  | Price |  | (in years) |  | (in thousands)
Outstanding at December 31, 2020 | ​ | 229,105 | ​ | $ | 1.74 | ​ | 9.69 | ​ | $ | —
Granted | ​ | 2,541,849 | ​ | ​ | 6.04 | ​ | 9.84 | ​ |  | ​
Exercised | ​ | — | ​ | ​ | — | ​ |  | ​ |  | ​
Cancelled/Forfeited |  | — |  | ​ | — |  |  |  | ​ |
Outstanding at June 30, 2021 |  | 2,770,954 | ​ | $ | 5.69 |  | 9.79 | ​ | $ | 47,439
Vested and exercisable at June 30, 2021 |  | 41,250 | ​ | $ | 2.72 |  | 9.29 | ​ | $ | 829
Vested and expected to vest at June 30, 2021 |  | 2,770,954 | ​ | $ | 5.69 |  | 9.79 | ​ | $ | 47,439
Summary of fair value of stock options assumptions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended |
​ | ​ | June 30, | ​ | June 30, | ​
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020 |
Expected term (in years) |  | 5.8 - 6.1 |  | 6.0 |  | 5.8 - 6.1 |  | 6.0 | ​
Expected volatility |  | 68.7 - 69.6 | % | 79.2 - 79.4 | % | 68.7 - 69.6 | % | 68.0 - 79.4 | %
Risk-free interest rate |  | 1.0 - 1.2 | % | 0.4 | % | 1.0 - 1.2 | % | 0.4 - 1.5 | %
Expected dividend |  | — |  | — |  | — |  | — | ​
Summary of stock-based compensation expense recognized for stock option grants | Stock-based compensation expense recognized for stock option grants has been reported in the statements of operations and comprehensive loss as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
​ |  | ​ | 2021 |  | 2020 |  | ​ | 2021 |  | ​ | 2020
Research and development | ​ | $ | 101 | ​ | $ | 2 | ​ | $ | 113 | ​ | $ | 2
General and administrative | ​ |  | 220 | ​ |  | 4 | ​ |  | 231 | ​ |  | 11
Total | ​ | $ | 321 | ​ | $ | 6 | ​ | $ | 344 | ​ | $ | 13
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​

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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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