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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2021
Share-based Payment Arrangement [Abstract] |
Share-based Payment Arrangement, Option, Activity | The following is a summary of stock option activity during the nine months ended September 30, 2021:
| Number of options outstanding |  | Weighted average exercise price (*) |  | Average remaining contractual life (in years) |  | Aggregate intrinsic value (in thousands) (**)
Outstanding – December 31, 2020 | 466,742 |  |  | $ | 0.14 |  |  | 8.2 |  | $ | 81 |
Options granted | 358,177 |  |  | 2.30 |  |  |  |  |
Forfeitures | (4,545) |  |  | 0.07 |  |  |  |  |
Options exercised | (27,461) |  |  | — |  |  |  |  |
Outstanding – September 30, 2021 | 792,913 |  |  | 1.11 |  |  | 8.5 |  | 3,881 |
Exercisable – September 30, 2021 | 289,720 |  |  | $ | 0.33 |  |  | 7.2 |  | $ | 1,642 |
(*) $ - Indicates exercise price less than $0.01 per share (**) Intrinsic value is based on the fair market value of the Company's common stock.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | For the nine months ended September 30, 2021 and 2020, the assumptions used in the Black-Scholes option pricing model, which was used to estimate the grant date fair value per option, were as follows:
| Nine Months ended September 30,
| 2021 |  | 2020
Weighted-average Black-Scholes option pricing model assumptions: |  |  |
Volatility | 90.01% - 93.02% |  | 74.61% - 74.89%
Expected term (in years) | 5.69 - 5.98 |  | 5.55 - 5.87
Risk-free rate | 0.69% - 0.82% |  | 0.25% - 0.39%
Expected dividend yield | $ | — |  |  | $ | — |
Weighted average grant date fair value per share | $2.07 - 3.00 |  | $0.16 - 0.18
Share-based Payment Arrangement, Expensed and Capitalized, Amount | The following is a summary of stock-based compensation expense:
| Three Months ended September 30, |  | Nine Months ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Selling, general and administration | $ | 48,594 |  |  | $ | 1,605 |  |  | $ | 75,049 |  |  | $ | 4,023 |
Research and development | 3,916 |  |  | — |  |  | 10,160 |  |  | — |
| $ | 52,510 |  |  | $ | 1,605 |  |  | $ | 85,209 |  |  | $ | 4,023 |

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- Definition 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. + 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 (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + 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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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