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SHARE CAPITAL (Tables)

6 Months Ended

Jun. 30, 2021

Stockholders' Equity Note [Abstract]

Schedule of Share Based Compensation by Share Based Payment Award Grants in Period

In the six months ended June 30, 2021 and 2020, the Company granted options and RSU as follows:

Six months ended June 30, 2021

Award amount*

Exercise price range*

Vesting period

Expiration

Employees and Directors:

Options

957,682

$5.02-$11.08

1 year -4 years

10 years

RSUs

366,678

—

1 year -4 years

—

Six months ended June 30, 2020

Award amount*

Exercise price range*

Vesting period

Expiration

Employees and Directors:

Options

1,195,611

$7.80-$12.52

1 year -4 years

10 years

RSUs

647,427

—

1 year -4 years

—

* All amounts and exercise prices for pre-Merger grants are presented following the exchange to Menlo options and RSUs at the Exchange Ratio described in Note 3-Business Combination.

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of options granted was computed using the Black-Scholes model. The underlying data used for computing the fair value of the options are as follows:

			Six months ended June 30
			2021						2020
Dividend yield			0		%				0		%
Expected volatility			68.38%-69.12%						60.44%-69.83%
Risk-free interest rate			0.5%-1.07%						0.44%-1.26%
Expected term			6 years						6 years

Share-based Payment Arrangement, Expensed and Capitalized, Amount

The following table illustrates the effect of share-based compensation on the statements of operations:

			Three months ended June 30												Six months ended June 30
(in thousands)			2021						2020						2021						2020
Research and development expenses			$	442					$	3,050					$	900					$	3,566
Selling, general and administrative			1,459						7,718						3,443						8,961
Total			$	1,901					$	10,768					$	4,343					$	12,527

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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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.

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