Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation (Tables)

v3.22.1
Stock Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense The amount of stock-based compensation expense recognized for the three months ended March 31, 2022 and 2021 was as follows (in thousands): 
  Three Months Ended March 31,
  2022 2021
Research and development $ 287  $ 298 
General and administrative 4,184  1,045 
Sales and marketing 841  105 
Total stock-based compensation $ 5,312  $ 1,448 
Summary of Option Activity A summary of option activity for the three months ended March 31, 2022 is as follows:
  Options Outstanding
  Number of shares Weighted average exercise price per share Weighted average grant date fair value per share Weighted average remaining contractual term (in years)
Balance at December 31, 2021 12,650,978  $ 3.69  $ 2.29  8.1
Granted 4,898,451  $ 0.79  $ 0.57 
Forfeited (1,445,139) $ 2.68  $ 1.83 
Expired (16,250) $ 2.40  $ 1.63 
Balance at March 31, 2022 16,088,040  $ 2.90  $ 1.80  7.0
Exercisable at March 31, 2022 8,333,750  $ 3.86  $ 2.32  4.8
Schedule of Fair Value Assumptions for Options
The following table shows the assumptions used to compute stock-based compensation expense for stock options with service-based vesting conditions granted under the Black-Scholes valuation model for the three months ended March 31, 2022:
Service-based options  
Expected term of option (in years)  
5 - 6.25
Expected stock price volatility  
84.0% - 85.6%
Risk-free interest rate  
1.50% - 2.42%
Expected annual dividend yield   —%