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Share-Based Compensation (Tables)

6 Months Ended

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):

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​

​

​

​

​

​

​

​

​

​

​

​

​

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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