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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2021
Stock-Based Compensation [Abstract] |
Schedule of Stock Option Activity | The following is a summary of stock option activity:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted |  | ​ | ​
​ | ​ | Number | ​ | Average | ​ | Aggregate
​ | ​ | of | ​ | Exercise | ​ | Intrinsic
​ | ​ | Options | ​ | Price | ​ | Value
​ | ​ | ​ | ​ | ​ | ​ |  | (in thousands)
Balance as of December 31, 2020 |  | 1,473,359 | ​ | $ | 2.64 |  | ​ | ​ |
Granted |  | 1,238,426 | ​ |  | 13.00 |  | ​ | ​ |
Cancelled / Forfeited |  | (42,669) | ​ |  | 10.31 |  | ​ | ​ |
Exercised |  | (11,783) | ​ |  | 0.88 |  | ​ | ​ |
Balance as of September 30, 2021 |  | 2,657,333 | ​ | $ | 7.35 | ​ | ​ | $ | 25,475
Options exercisable as of September 30, 2021 |  | 1,009,785 | ​ | $ | 2.36 | ​ | ​ | $ | 14,330
Schedule of Assumptions Used to Determine the Grant-Date Fair Value of Stock Options | The following table provides the weighted average fair value of options granted to employees and the related assumptions used in the Black-Scholes option pricing model for the nine months ended September 30, 2021. No options were issued during the nine months ended September 30, 2020.
​ | ​ | ​ | ​ | ​
​ |  | ​ | September 30, | ​
​ | ​ | ​ | 2021 |
Weighted average fair value of options granted |  | $ | 5.25 | ​
Expected term (in years) — non-officer employees |  | ​ | 2.7 to 6.1 | ​
Expected term (in years) — officer employees |  | ​ | 3.0 | ​
Expected volatility |  | ​ | 56.1% to 63.4 | %
Expected dividend yield |  | ​ | — | %
Risk-free interest rate |  | ​ | 0.17% to 0.47 | %
Recognized Stock-Based Compensation Expense | For the three and nine months ended September 30, 2021 and 2020, the Company recognized stock-based compensation expense as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | ​ | 2021 | ​ | 2020 | ​ | 2021 | ​ | 2020
Selling, general & administrative | ​ | $ | 353 | ​ | $ | 20 | ​ | $ | 830 | ​ | $ | 62
Research & development | ​ | ​ | 115 |  | ​ | 11 | ​ | ​ | 319 |  | ​ | 32
Cost of goods sold | ​ | ​ | 6 |  | ​ | — | ​ | ​ | 10 |  | ​ | 1
​ | ​ | $ | 474 | ​ | $ | 31 | ​ | $ | 1,159 | ​ | $ | 95

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- Definition 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. + 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 (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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 (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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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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