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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Awards and Restricted Stock Grants

A summary of stock option awards and restricted stock grants for the three-months ended March 31, 2022 is presented below:

 

   Stock Options   Restricted Stock Awards  

Weighted

Average

 
  

Options

Outstanding

  

Weighted

Average

Exercise

Price

  

Non-vested

Restricted

Stock

Outstanding

  

Weighted

Average

Grant

Date

Fair Value

  

Contractual

Terms of

Equity

Awards

(in years)

 
Equity awards outstanding at January 1, 2022   441,425   $38.49    1,481   $12.36      
                          
Equity awards granted   224,276   $4.60    400   $4.60      
                          
Equity awards outstanding at March 31, 2022   665,701   $27.07    1,881   $10.71    8.0 
                          
Aggregate intrinsic value of outstanding equity awards at March 31, 2022  $103,167        $20,145           
                          
Equity awards exercisable at March 31, 2022   419,559   $33.22              7.5 
                          
Aggregate intrinsic value of equity awards exercisable at March 31, 2022  $34,304                     
Schedule of Assumptions Used to Determine Fair Value of Options Granted

 

   Three Months Ended March 31, 
   2022   2021 
Risk-free interest rate   1.74%   1.64 to 1.74%
Expected volatility   108.5%   106.8 to 112.5%
Expected life (in years)   8.5 to 9.0    7.5 to 10.0 
Expected dividend yield   -%   -%