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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Option Activity

          A summary of activity for the year ended December 31, 2021 is as follows:

 

 

 

Options

 

 

Weighted

Average

Exercise Price

 

 

Weighted

Average

Remaining

Contractual

Term (years)

 

 

Aggregate

Intrinsic Value

 

Balance as of December 31, 2020

 

 

531,336

 

 

$

10.01

 

 

 

 

 

 

 

 

 

Granted

 

 

680,227

 

 

$

2.52

 

 

 

 

 

 

 

 

 

Cancelled/forfeited

 

 

(40,673

)

 

$

16.69

 

 

 

 

 

 

 

 

 

Balance as of December 31, 2021

 

 

1,170,890

 

 

$

5.01

 

 

 

9.00

 

 

$

-

 

Vested and expected to vest at December 31, 2021

 

 

378,010

 

 

$

10.37

 

 

 

8.70

 

 

$

-

 

Exercisable at December 31, 2021

 

 

1,089,944

 

 

$

5.16

 

 

 

9.00

 

 

$

-

 

Weighted-average Assumptions

The fair value of each option awarded during the years ended December 31, 2021 and 2020 was estimated on the date of grant using the Black-Scholes-Merton option valuation model based on the following weighted-average assumptions:

 

 

 

December 31,

2021

 

 

December 31,

2020

 

Expected term

 

 

6 years

 

 

5.8 years

 

Risk-free interest rate

 

 

1.00

%

 

 

0.58

%

Expected volatility

 

 

127.0

%

 

 

128.6

%

Dividends

 

 

0

%

 

 

0

%

Resulting fair value

 

$

2.23

 

 

$

1.87

 

 

Summary of Share-Based Compensation Recognized

The following table summarizes share-based compensation recognized during the years ended December 31, 2021 and 2020 in the statement of operations and comprehensive loss:

 

 

 

Years ended December 31,

 

 

 

2021

 

 

2020

 

Research and development

 

$

75

 

 

$

32

 

General and administrative

 

 

531

 

 

 

215

 

Total share-based compensation

 

$

606

 

 

$

247