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Equity-based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Equity-based Compensation

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

​

​	​	​	​	​	​
​	​	Six Months Ended June 30,			​
​		2023		2022
Fair value of common stock	​	$1.65 – $2.99		$1.92 – $3.05	​
Expected volatility		91.53% – 92.68%		91.09% – 92.72%	​
Risk-free interest rate		3.46% – 4.21%		1.87% –  3.25%	​
Dividend yield		0.00%		0.00%	​
Expected term (years)		6.18 – 6.36		5.50 – 6.08	​

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, 2022		3,679,468	​	$	5.13		$	2,085		6.7
Options granted		576,269	​	$	2.06		​	​		​
Options exercised		—	​	$	—		​	​		​
Options forfeited		(79,742)	​	$	1.95		​	​		​
Options expired		(6,818)	​	$	1.54		​	​		​
Balance, June 30, 2023		4,169,177	​	$	4.77	​	$	1,513		7.0
Exercisable as of June 30, 2023		2,669,797	​	$	4.80	​	$	1,309	​	6.0

Schedule of restricted stock units award activity

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​	​	​	​	​	​
​		Number of		​	Weighted-Average
​	​	Restricted	​	​	Grant Date
​	​	Stock Units	​	​	Fair Value
Outstanding at December 31, 2022	​	—	​	$	—
Granted	​	539,419	​	$	2.07
Vested	​	—	​	$	—
Forfeited	​	(19,825)	​	$	—
Outstanding at June 30,  2023	​	519,594	​	$	2.07

Schedule of total equity-based compensation expense

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Three Months Ended June 30,

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Six Months Ended June 30,

​

2023

2022

2023

2022

Research and development

​

$

156

​

$

82

​

​

$

313

​

$

316

General and administrative

​

869

​

810

​

​

1,899

​

1,577

Total equity-based compensation

​

$

1,025

​

$

892

​

​

$

2,212

​

$

1,893

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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 of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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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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