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SHARE-BASED COMPENSATION (Tables) | 6 Months Ended
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Jun. 30, 2022
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 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2022 and 2021 (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Research and development | $ | 473 |  |  | $ | 207 |  |  | $ | 975 |  |  | $ | 386 |
General and administrative | 1,329 |  |  | 1,052 |  |  | 2,721 |  |  | 1,831 |
Total Share Based Compensation | $ | 1,802 |  |  | $ | 1,259 |  |  | $ | 3,696 |  |  | $ | 2,217 |
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 the 2009 Plan and inducement grants made outside of stockholder approved plans, for the six months ended June 30, 2022:
| 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, 2021 | 15,703 |  |  | $1.93 |  | 8.03 |  | $ | 82 |
Granted | 1,511 |  |  | $0.72 |  |  |  |
Exercised | — |  |  | — |  |  |  |
Canceled or forfeited | (53) |  |  | 1.20 |  |  |  |
Outstanding at June 30, 2022 | 17,161 |  |  | $1.83 |  | 7.72 |  | $ | 218 |
Exercisable at June 30, 2022 | 9,555 |  |  | $1.72 |  | 7.11 |  | $ | 64 |
Schedule of Weighted-Average Inputs and Assumptions in Black-Scholes Option | For the six months ended June 30, 2022 and 2021, 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:
| June 30, 2022 |  | June 30, 2021
Fair market value | $0.72 |  | $3.34
Grant exercise price | $0.72 |  | $3.34
Expected term (in years) | 6.0 |  | 6.04
Risk-free interest rate | 2.1% |  | 0.9%
Expected volatility | 71.8% |  | 74.7%
Dividend yield | —% |  | —%
Schedule of the Status of Restricted Stock Units | The following table sets forth a summary of the Company's RSU and PSU activity for the six months ended June 30, 2022:
| Restricted Stock Units (in thousands) |  | Weighted Average Grant Date Fair Value
Unvested at December 31, 2021 | 3,041 |  |  | $0.80
Granted RSU | 4,161 |  |  | $0.68
Cancelled RSU | (143) |  |  | $0.75
Granted PSU | 1,004 |  |  | $0.67
Unvested at June 30, 2022 | 8,063 |  |  | $0.72

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + 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)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- 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
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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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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