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Share-based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] |
Summary of Assumptions of Fair Value of Option Pricing Granted | The fair value of the stock options granted during the three months ended September 30, 2021 was determined using the Black-Scholes option pricing model with the following assumptions:
|  | THREE MONTHS ENDED SEPTEMBER 30, |
|  | 2021 |
Expected volatility |  | 87.76% - 87.87% |
Expected term (years) |  | 5.50 - 6.08 |
Risk free interest rate |  | 0.79% - 0.97% |
Expected dividend yield |  |  | — |
Exercise price |  | 12.80 -13.00 |
Summary of Nonvested Restricted Common Stock | A summary of the status of our nonvested restricted common stock at September 30, 2021 and changes during the nine months ended September 30, 2021 is as follows:
|  | Restricted Shares |
Nonvested restricted stock at December 31, 2020 |  |  | 1,184,252 |
Shares granted |  |  | 1,589,622 |
Shares vested |  |  | (365,520 | )
Outstanding nonvested restricted stock at September 30, 2021 |  |  | 2,408,354 |
Summary of Equity-based Compensation | Share-based compensation is classified in the condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2021 and 2020 as follows:
|  | THREE MONTHS ENDED SEPTEMBER 30, |  |  | NINE MONTHS ENDED SEPTEMBER 30, |
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Research and development |  | $ | 266 |  |  | $ | 47 |  |  | $ | 620 |  |  | $ | 107 |
General and administrative |  |  | 789 |  |  |  | 228 |  |  |  | 1,496 |  |  |  | 368 |
|  | $ | 1,055 |  |  | $ | 275 |  |  | $ | 2,116 |  |  | $ | 475 |
Restricted Shares |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] |
Summary of Assumptions of Fair Value of Restricted Common Shares Pricing Granted | The assumptions that went into the option pricing models for determining the fair value of Rallybio Holdings incentive units granted during the nine months ended September 30, 2021 and 2020, prior to the Liquidation of Rallybio Holdings are as follows and do not include the retrospective adjustments described in Note 2:
|  | NINE MONTHS ENDED SEPTEMBER 30, |
|  | 2021 |  |  | 2020 |
Expected volatility |  | 71.7% - 99.5% |  |  |  | 95.0 | %
Expected term (years) |  | 0.58 - 1.00 |  |  |  | 1.50 |
Risk free interest rate |  | 0.04% - 0.10% |  |  |  | 0.16 | %
Expected dividend yield |  |  | — |  |  |  | — |

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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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