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Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Compensation

Schedule of share-based compensation expense category

​

​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended September 30,					​	Nine Months Ended September 30,
(in thousands)		2023			2022		​	2023			2022
Research and development	​	$	1,429	​	$	568	​	$	4,788	​	$	6,528
General and administrative	​		1,395	​		2,294	​		4,563	​		8,949
​	​	$	2,824	​	$	2,862	​	$	9,351	​	$	15,477

Summary of stock option activity plan

​

​	​	​	​	​	​	​	​	​
​		​		​	​		Weighted	​
​	​	​	​	Weighted		​	average	​
​	​	​	​	average		​	remaining	​
​	​	Number of	​	exercise price		​	contractual	​
​	​	shares	​	per share		​	term (years)	​
Outstanding at January 1, 2023		11,411,390		$	9.01		7.1	​
Granted		3,348,982	​	​	1.06			​
Exercised		—	​	​	—			​
Forfeited		(2,256,315)	​	​	8.58			​
Expired		(2,264,006)	​	​	12.50			​
Outstanding at September 30, 2023		10,240,051	​	$	5.73		8.2	​
Vested and exercisable at September 30, 2023		4,935,214	​	$	8.43		7.4	​
Vested or expected to vest at September 30, 2023		10,240,051	​	$	5.73		8.2	​

Schedule of weighted average assumptions applied to options

​

​	​	​	​	​	​	​
​	​	Nine Months Ended September 30,
​	​	2023		​	2022
Expected volatility	​	92.6	%	​	92.3	%
Risk‑free interest rate	​	3.6	%	​	2.6	%
Expected term	​	6.0	years	​	5.8	years
Expected dividend yield	​	—	​	​	—	​

Summary of activity related to restricted stock unit

​

​	​	​	​	​	​	​
​	​		​		​	Weighted average
​	​		Number of shares		​	grant date fair value
Unvested balance at January 1, 2022	​		1,229,166		$	2.98
Granted	​		195,000		$	1.01
Vested	​	​	(98,042)	​	​	5.82
Forfeited	​		(179,625)		$	2.13
Unvested balance at September 30, 2023	​		1,146,499		$	2.58

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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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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