v3.22.2

Stockholders’ Equity and Stock-Based Compensation (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of Warrant Activity | A summary of the Company’s warrant activity during the six months ended June 30, 2022 was as follows:
| Shares of Stock under Warrants |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at January 1, 2022 | 4,356,000 |  |  | $ | 5.96 |  |  | 1.76 |  | $ | 785,000 |
Granted | — |  |  | — |  |  | — |  |  | — |
Exercised | — |  |  | — |  |  | — |  |  | — |
Canceled | — |  |  | — |  |  | — |  |  | — |
Outstanding at June 30, 2022 | 4,356,000 |  |  | $ | 5.96 |  |  | 1.27 |  | $ | 246,000 |
Summary of Stock Option Activity | A summary of the Company’s stock option activity during the six months ended June 30, 2022 was as follows:
| Shares of Stock under Stock Options |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at January 1, 2022 | 12,765,000 |  |  | $ | 4.97 |  |  | 8.9 |  | $ | 7,891,000 |
Granted | 12,797,000 |  |  | 2.11 |  |  | — |  |  | — |
Exercised | (270,000) |  |  | 0.59 |  |  | — |  |  | 302,000 |
Canceled | (1,708,000) |  |  | 5.00 |  |  | — |  |  | — |
Outstanding at June 30, 2022 | 23,584,000 |  |  | $ | 3.47 |  |  | 9.08 |  | $ | 2,053,000 |
Vested and exercisable at June 30, 2022 | 4,976,000 |  |  | $ | 3.90 |  |  | 7.96 |  | $ | 1,327,000 |
Summary of Recognized Stock-Based Compensation Expense | The Company recognized stock-based compensation expense for the periods presented as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
2022 |  | 2021 |  | 2022 |  | 2021
Research and development | $ | 3,468,000 |  |  | $ | 384,000 |  |  | $ | 6,795,000 |  |  | $ | 465,000 |
General and administrative | 2,309,000 |  |  | 1,374,000 |  |  | 4,084,000 |  |  | 1,664,000 |
Total stock-based compensation expense | $ | 5,777,000 |  |  | $ | 1,758,000 |  |  | $ | 10,879,000 |  |  | $ | 2,129,000 |
Schedule of Weighted-Average Assumptions in Black -Scholes Option Pricing Model | The weighted-average assumptions used in the Black-Scholes option pricing model to determine the fair value of the employee stock option grants during the periods presented were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
2022 |  | 2021 |  | 2022 |  | 2021
Risk-free interest rate | 2.8 | % |  | 1.1 | % |  | 2.1 | % |  | 1.1 | %
Expected volatility | 70.6 | % |  | 80.4 | % |  | 70.2 | % |  | 80.4 | %
Expected term (in years) | 5.7 |  | 6.0 |  | 6.0 |  | 6.0
Expected dividend yield | 0.0 | % |  | 0.0 | % |  | 0.0 | % |  | 0.0 | %
Share-based Payment Arrangement, Restricted Stock Unit, Activity | The following table summarizes restricted share unit (“RSU”) activity during the six months ended June 30, 2022:
| Stock Units |  | Weighted- Average Grant Date Fair Value per Share
Outstanding at January 1, 2022 | 361,000 |  |  | $ | 4.74 |
Granted | — |  | —
Released | (131,000) |  | 4.74
Forfeited | — |  |  | — |
Outstanding at June 30, 2022 | 230,000 |  | $ | 4.74
The following table summarizes performance share unit (“PSU”) activity during the six months ended June 30, 2022:
| Stock Units |  | Weighted- Average Grant Date Fair Value per Share
Outstanding at January 1, 2021 | 290,000 |  | $ | 4.74 |
Granted | — |  | —
Released | — |  | —
Forfeited | — |  | —
Outstanding at June 30, 2022 | 290,000 |  | $ | 4.74

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + 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 (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
Name: | us-gaap_ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration