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Equity-based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Equity-based Compensation

Schedule of fair value of options granted using the Black-Scholes option pricing model

​

​	​	​	​	​
​	​	Year Ended December 31,
​		2022		2021
Fair value of common stock	​	$1.72 – $3.05	​	$1.75 – $6.15
Expected volatility	​	91.09% – 92.73%	​	100.82% – 101.83%
Risk-free interest rate	​	1.87% – 4.22%	​	0.67% – 1.06%
Dividend yield	​	0.00%	​	0.00%
Expected term (years)	​	5.50 – 6.40	​	5.00 – 6.22

​

Summary of activity for options

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Options Outstanding
​	​	​	​	​	​	​	​	​	​	Weighted
​	​	​	​	Weighted-		​	Aggregate		​	Average
​	​	​	​	Average		​	Intrinsic		​	Remaining
​	​	Number of	​	Exercise		​	Value		​	Contractual Life
​		Options		Price			(in 000’s)			(In Years)
Balance, December 31, 2021		5,640,438	​	$	4.19		$	12,002		8.0
Options granted		524,370	​	​	2.40		​	​		​
Options exercised		(1,761,516)	​	​	0.92		​	​		​
Options forfeited		(646,072)	​	​	5.62		​	​		​
Options expired		(77,752)	​	​	12.70		​	​		​
Balance, December 31, 2022		3,679,468	​	$	5.13	​	$	2,085		6.7
Exercisable as of December 31, 2022		2,253,389	​	$	4.62	​	$	1,632	​	5.5

​

Schedule of total equity-based compensation expense

​

​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2022			2021
Research and development	​	$	528	​	$	877
General and administrative	​		3,044	​		4,306
Total equity-based compensation	​	$	3,572	​	$	5,183

​

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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.

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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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