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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Stock-Based Compensation

Schedule of Stock option plans

​

​	​	​	​	​	​	​
​	​	2009	​	2014	​	​
​		Plan		Plan		Total
Outstanding or Exercised as of December 31, 2020		85,498		2,547,677		2,633,175
Available for future issuance under plan		—		6,583,033		6,583,033
Total authorized by plan		85,498		9,130,710		9,216,208
​	​	​	​	​	​	​
Outstanding or Exercised as of December 31, 2021		—		11,184,450		11,184,450
Available for future issuance under plan		—		1,550,004		1,550,004
Totals authorized by plan		—		12,734,454		12,734,454
​	​	​	​	​	​	​
Outstanding or Exercised as of December 31, 2022		—		11,168,061		11,168,061
Available for future issuance under plan		—		1,495,760		1,495,760
Totals authorized by plan		—		12,663,821		12,663,821

​

Schedule of Summary of Stock Option Activity

​

​	​	​	​	​	​	​	​
​	​	​	​	Weighted		​	Average
​	​	Number of	​	Average		​	Remaining Life
​		Options		Exercise Price			(years)
Outstanding at December 31, 2019		1,383,591	​	$	4.77		6.25
Granted		1,481,000	​		1.66
Exercised		(82,083)	​		4.67
Expired or Forfeited		(149,333)	​		3.68
Outstanding at December 31, 2020		2,633,175	​	$	3.09		6.53
Granted		1,100,500	​		17.23
Exercised		(739,956)	​		3.36
Expired or Forfeited		(170,085)	​		8.58
Outstanding at December 31, 2021		2,823,634	​	$	7.67		7.95
Granted		442,000	​		5.45
Exercised		(145,185)	​		2.56
Expired or Forfeited		(314,776)	​		9.27
​	​	​	​	​	​	​	​
Outstanding at December 31, 2022		2,805,673	​	$	7.80		7.28

​

Summary of assumptions used to compute the fair value of stock options granted

​

​	​	​	​	​	​	​	​	​	​	​
December 31,		2022			2021			2020
Assumptions for Black-Scholes:		​			​			​		​
Expected term in years		​	6.1		​	6.1 to 6.5		​	6.2 to 6.6	​
Volatility		​	85.44% to 87.09	%	​	82.8% to 86.0	%	​	73.3% to 76.8	%
Risk-free interest rate		​	2.18% to 3.95	%	​	0.96% to 1.25	%	​	0.41% to 0.55	%
Expected annual dividends		​	None		​	None		​	None	​
Value of options granted:		​			​			​		​
Number of options granted		​	442,000		​	1,100,500		​	1,481,000	​
Weighted average fair value per share		$	4.04		$	12.40		$	1.08	​
Fair value of options granted		$	1,783,710		$	13,642,976		$	1,602,267	​

​

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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.

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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.

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Tabular disclosure of various program within a company whereby employees are allowed to buy a specific number of stock options in the company for a specified amount of time.

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