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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Stock-Based Compensation

Summary of stock option activity under the Equity Plans

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	Weighted		​	​	​	​	​
​		​		Average			Weighted		Aggregate
​	​	​		Exercise Price			Average Remaining		Intrinsic
​	​	Options		Per Share		​	Life in Years	​	Value
Outstanding at December 31, 2019	​	4,024,566	​	$	7.48	​	7.98	​	$	2
Granted		2,662,500	​	$	2.10				​
Exercised		(32,778)	​	$	1.53		​	​	​	​
Forfeited	​	(260,435)	​	$	6.95	​	​	​	​	​
Outstanding at December 31, 2020		6,393,853	​	$	5.29		7.96	​	$	1,961
Granted		2,482,650	​	$	2.19				​
Exercised		(2,292)	​	$	1.55		​	​	​	​
Forfeited	​	(348,593)	​	$	3.17	​	​	​	​	​
Outstanding at December 31, 2021	​	8,525,618	​	$	4.48	​	7.58	​	$	7,673
Options exercisable at December 31, 2021		5,421,641	​	$	5.83		6.89	​	$	4,074
Options vested and expected to vest at December 31, 2021		8,525,618	​	$	4.48		7.58	​	$	7,673

Schedule of assumptions used to determine grant-date fair value of stock options

The assumptions that the Company used to determine the grant-date fair value of stock options granted to employees and directors during the years ended December 31, 2021 and 2020 were as follows, presented on a weighted average basis:

​

​	​	​	​	​	​
​	​	Year Ended December 31,			​
​		2021		2020	​
Expected volatility		67.64	%	66.94	%
Weighted average risk-free interest rate		0.82	%	0.66	%
Expected dividend yield	​	0.00	%	0.00	%
Expected term (in years)	​	6.82	​	6.85	​

Summary of RSU activity under the 2016 Plan

​

​	​	​	​	​	​
​	​	​		Weighted
​		Number of		Average
​		Shares		Fair Value
Outstanding at December 31, 2019		90,500	​	$	1.76
Awarded	​	753,106	​	$	1.49
Settled in cash	​	(90,500)	​	$	1.76
Outstanding at December 31, 2020	​	753,106	​	$	1.52
Awarded		275,000	​	$	2.57
Settled in cash		(92,500)	​	$	1.97
Outstanding at December 31, 2021		935,606	​	$	1.76

Schedule of recognized stock-based compensation expense related to the issuance of stock option awards and RSUs to employees and non-employees in the condensed consolidated statements of operations

​

​	​	​	​	​	​	​
​	​	Year Ended
​	​	December 31,
​		2021			2020
Research and development		$	1,641	​	$	1,172
General and administrative		​	2,045	​		1,604
Total	​	$	3,686	​	$	2,776

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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.

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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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