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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Stock-based compensation recognized | Stock-based compensation has been recognized in operating results as follows:
(in thousands) | Years ended December 31,
| 2021 |  | 2020 |  |
Research and development expenses | 491 |  |  | 355 |  |  |
Selling, general and administrative expenses | 2,743 |  |  | 1,410 |  |  |
Total stock-based compensation | $ | 3,234 |  |  | $ | 1,765 |  |  |
Estimated Fair Value of Stock Options - Assumptions | The estimated fair value of stock option awards was determined on the date of grant using the Black-Scholes option valuation model with the following assumptions during the years indicated below:
| Years ended December 31,
| 2021 |  | 2020 |  |
Risk-free interest rate | 0.83% - 1.3% |  | 0.39% - 0.93% |  |
Dividend yield | 0% |  | 0% |  |
Expected volatility (range) | 107% - 110% |  | 102% - 106% |  |
Expected volatility (weighted-average) | 108% |  | 105% |  |
Expected term (in years) | 6.0 years |  | 5.9 years |  |
Summary of Stock Option Activity | A summary of stock option activity and of changes in stock options outstanding is presented below:
| Number of Options |  | Weighted-Average Exercise Price Per Share |  | Intrinsic Value |  | Weighted-Average Remaining Contractual Life
Balance outstanding, December 31, 2020 | 1,860,507 |  |  | $ | 7.43 |  |  | $ | 27,963,363 |  |  | 8.9 years
Granted | 1,926,466 |  |  | $ | 7.27 |  |  |  |  |
Forfeited | (10,770) |  |  | $ | 2.55 |  |  |  |  |
Expired | (4,219) |  |  | $ | 216.00 |  |  |  |  |
Balance outstanding, December 31, 2021 | 3,771,984 |  |  | $ | 7.13 |  |  | $ | 6,405,258 |  |  | 8.7 years
Vested and exercisable, December 31, 2021 | 1,281,604 |  |  | $ | 8.96 |  |  | $ | 4,303,588 |  |  | 7.6 years
Vested and expected to vest, December 31, 2021 | 3,671,664 |  |  | $ | 7.18 |  |  | $ | 6,253,298 |  |  | 8.7 years
Summary of Restricted Stock Unit Activity | A summary of the RSU's activity is presented below:
| Number of Shares |  | Weighted Average Grant Date Fair Value Per Share |  | Intrinsic Value
Non-vested RSU's outstanding, December 31, 2019 | 11,301 |  |  | $ | 15.38 |  |  | $ | 14,013 |
Vested | (10,810) |  |  | $ | 9.37 |  |  |
Non-vested RSU's outstanding, December 31, 2020 | 491 |  |  | $ | 147.60 |  |  | $ | 7,641 |
Vested | (491) |  |  | $ | 147.60 |  |  |
Non-vested RSU's outstanding, December 31, 2021 | — |  |  | $ | — |  |  | $ | — |

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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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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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