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STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2023
STOCK-BASED COMPENSATION [Abstract]  
Stock Option Granted

During the three months ended March 31, 2023 and 2022, the Company granted the following stock options (in thousands):


 
Three months ended March 31,
 
 
2023
 
2022
 
Stock options granted
   
212
     
63
 
Weighted-Average Assumptions Used for Stock Options Granted

The following weighted-average assumptions were used for stock options granted during the three months ended March 31, 2023 and 2022:


    Three months ended March 31,  
 
 
2023
   
2022
 
Weighted average risk-free rate
   
38.60
%
   
1.92
%
Weighted average volatility
   
95.04
%
   
93.00
%
Dividend yield
   
0
%
   
0
%
Expected term
 
5.36 years
   
5.78 years
 
Stock-Based Compensation Expense

For the three months ended March 31, 2023 and 2022, the Company recognized stock-based compensation expense as follows (in thousands):


 
Three months ended March 31,
 
 
2023
 
2022
 
Research and development
 
$
64
   
$
422
 
General and administrative
   
625
     
761
 
Total
 
$
689
   
$
1,183