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STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2023
STOCK-BASED COMPENSATION [Abstract]  
Stock Option Granted

During the three and six months ended June 30, 2023 and 2022, the Company granted the following stock options (in thousands):


 
 
Three months ended June 30,
   
Six months ended June 30,
 
 
 
2023
   
2022
   
2023
   
2022
 
Stock options granted
   
25
     
36
     
237
     
99
 
Weighted-Average Assumptions Used for Stock Options Granted

The following weighted-average assumptions were used for stock options granted during the three and six months ended June 30, 2023 and 2022:

 
 
Three months ended June 30,
   
Six months ended June 30,
 
 
 
2023
   
2022
   
2023
   
2022
 
Weighted average risk-free rate
   
3.54
%
   
2.74
%
   
3.82
%
   
2.42
%
Weighted average volatility
   
96.09
%
   
92.74
%
   
95.15
%
   
92.85
%
Dividend yield
   
0
%
   
0
%
   
0
%
   
0
%
Expected term
 
6.08 years
   
4.15 years
   
5.44 years
   
4.79 years
 


The per-share weighted average grant-date fair value of stock options granted during the three and six months ended June 30, 2023 and 2022 was as follows:



 
 
Three months ended June 30,
   
Six months ended June 30,
 
 
 
2023
   
2022
   
2023
   
2022
 
Weighted average grant date fair value
 
$
1.64
   
$
9.97
   
$
2.99
   
$
23.68
 
Stock-Based Compensation Expense

For the three and six months ended June 30, 2023 and 2022, the Company recognized stock-based compensation expense as follows (in thousands):


 
 
Three months ended June 30,
   
Six months ended June 30,
 
 
 
2023
   
2022
   
2023
   
2022
 
Research and development
 
$
56
   
$
470
   
$
120
   
$
892
 
General and administrative
   
158
     
409
     
783
     
1,170
 
Total
 
$
214
   
$
879
   
$
903
   
$
2,062