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SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Share-Based Compensation Expense | The following table sets forth the amount of share-based compensation expense recognized by the Company by line item on its Consolidated Statements of Operations and Comprehensive Loss for the years ended December 31, 2021, 2020 and 2019 (in thousands):
| Year ended December 31,
| 2021 |  | 2020 |  | 2019
Research and development | $ | 973 |  |  | $ | 350 |  |  | $ | 188 |
General and administrative | 4,170 |  |  | 1,407 |  |  | 1,049 |
Total Share Based Compensation | $ | 5,143 |  |  | $ | 1,757 |  |  | $ | 1,237 |
Schedule of the Status of Restricted Stock Units | A summary of the status of restricted stock units is presented below:
| Restricted Stock Units (in thousands)
Unvested at December 31, 2020 | — |
Granted RSU | 2,482 |
Granted PSU | 559 |
Unvested at December 31, 2021 | 3,041 |
Schedule of Stock Option Activity | The following table sets forth a summary of the Company’s total stock option activity, including awards granted under the 2014 Plan and 2009 Plan and inducement grants made outside of stockholder approved plans, for the years ended December 31, 2021, 2020 and 2019:
| Number of Shares under Option (in thousands) |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Life (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2018 | 3,942 |  |  | $2.12 |  | 9.14 |  | $ | 57 |
Granted | 3,986 |  |  | $1.02 |  |  |  |
Exercised | (90) |  |  | $1.10 |  |  |  |
Canceled or forfeited | (1,602) |  |  | $1.78 |  |  |  |
Outstanding at December 31, 2019 | 6,236 |  |  | $1.52 |  | 8.83 |  | $ | 358 |
Granted | 4,044 |  |  | $0.87 |  |  |  |
Exercised | (12) |  |  | $1.13 |  |  |  |
Canceled or forfeited | (121) |  |  | $1.04 |  |  |  |
Outstanding at December 31, 2020 | 10,147 |  |  | $1.26 |  | 8.50 |  | $ | 3,160 |
Granted | 8,273 |  |  | $3.32 |  |  |  |
Exercised | (34) |  |  | $1.23 |  |  |  |
Canceled or forfeited | (2,683) |  |  | $3.70 |  |  |  |
Outstanding at December 31, 2021 | 15,703 |  |  | $1.93 |  | 8.03 |  | $ | 82 |
Exercisable at December 31, 2021 | 7,562 |  |  | $1.65 |  | 7.41 |  | $ | 59 |
Schedule of Weighted-Average Inputs and Assumptions in Black-Scholes Option | For the years ended December 31, 2021, 2020 and 2019, the grant-date fair value of stock options was determined using the following weighted-average inputs and assumptions in the Black-Scholes option pricing model:
| Year ended December 31,
| 2021 |  | 2020 |  | 2019
Fair market value | $3.32 |  | $0.87 |  | $1.02
Grant exercise price | $3.32 |  | $0.87 |  | $1.02
Expected term (in years) | 6.0 |  | 6.1 |  | 6.0
Risk-free interest rate | 0.9% |  | 1.3% |  | 2.1%
Expected volatility | 74.6% |  | 71.5% |  | 78.1%
Dividend yield | —% |  | —% |  | —%

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