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Stock Option Plan and Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Stock Option Plan Activity

Activity under the Company’s stock option plans is set forth below:

			Options						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term in years
			(In thousands)						(Per Share Data)						(Years)
Outstanding as of December 31, 2019			4,846						$	0.98					8.1
Granted			18,944						$	0.26
Exercised			(55)						$	0.98
Forfeited or expired			(1,772)						$	0.93
Outstanding as of September 30, 2020			21,963						$	0.36					9.3
Options vested and expected to vest as of September 30, 2020			21,963						$	0.36
Vested and exercisable as of September 30, 2020			2,524						$	0.97
Outstanding as of December 31, 2020			21,471						$	0.33					9.3
Granted			1,024						$	6.69
Exercised			(200)						$	1.56
Forfeited or expired			(951)						$	0.61
Outstanding as of September 30, 2021			21,344						$	0.61					8.5
Options vested and expected to vest as of September 30, 2021			21,344						$	0.61
Vested and exercisable as of September 30, 2021			7,776						$	0.58

Weighted-Average Assumptions Used in Stock Options

The weighted-average assumptions in the Black-Scholes option-pricing model used to determine the fair value of stock options granted were as follows:

			Nine months ended September 30,
			2021						2020
Expected volatility			59		%				60		%
Risk-free interest rate			0.9% – 1.0%						0.3% – 0.8%
Dividend yield			—		%				—		%
Expected term (in years)			5.72						6.05

Schedule of Stock-Based Compensation Expense

The following sets forth the total stock-based compensation expense for the stock options included in the statements of operations:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2021						2020						2021						2020
			(In thousands)												(In thousands)
Research and development			$	211					$	219					$	598					$	601
Selling and marketing			105						145						280						358
General and administrative			360						102						873						284
			$	676					$	466					$	1,751					$	1,243

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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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