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Stock Based Compensation Plan (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of stock option activity | A summary of option activity is set forth below (shares in thousands):
|  | Options Outstanding |
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Average Remaining Contractual Life (In years) |  |  | Aggregate Intrinsic Value (In thousands) |
Outstanding – December 31, 2021 |  |  | 1,794 |  |  | $ | 6.31 |  |  |  | 8.43 |  |  |  |  |
Granted |  |  | 2,198 |  |  |  | 3.26 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (79 | ) |  |  | 6.13 |  |  |  |  |  |  |  |  |
Expired |  |  | (17 | ) |  |  | 6.77 |  |  |  |  |  |  |  |  |
Outstanding – December 31, 2022 |  |  | 3,896 |  |  |  | 2.43 |  |  |  | 8.44 |  |  | $ | — |
Exercisable – December 31, 2022 |  |  | 1,430 |  |  |  | 1.94 |  |  |  | 7.48 |  |  |  | — |
Summary of RSA Activity | The following table summarizes the Company’s RSA activity (shares in thousands):
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
RSAs, unvested at December 31, 2021 |  |  | 161 |  |  | $ | 9.39 |
Vested |  |  | (56 | ) |  |  | 8.72 |
RSAs, unvested at December 31, 2022 |  |  | 105 |  |  |  | 9.74 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of options is estimated at the grant date using the Black-Scholes option pricing model with the following weighted-average assumptions:
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Expected term (in years) |  |  | 6.00 |  |  |  | 6.01 |
Expected volatility |  |  | 81.07 | % |  |  | 71.23 | %
Risk-free rate |  |  | 2.03 | % |  |  | 0.89 | %
Dividend yield |  |  | — |  |  |  | — |
Schedule of Stock-Based Compensation Expense | Total stock-based compensation recorded in the consolidated statements of operations and comprehensive loss related to options and RSAs was as follows (in thousands):
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Research and development |  | $ | 1,612 |  |  | $ | 736 |
General and administrative |  |  | 2,905 |  |  |  | 1,580 |
Total stock-based compensation expense |  | $ | 4,517 |  |  | $ | 2,316 |

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- Definition 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. + 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 (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + 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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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