Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.23.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2023
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, 2023 and 2022 was as follows (in thousands): 
  Three Months Ended March 31,
  2023 2022
Research and development $ 326  $ 287 
Selling, general and administrative 529  5,025 
Total stock-based compensation $ 855  $ 5,312 
Summary of Option Activity A summary of option activity for the three months ended March 31, 2023 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, 2022 1,345,532  $ 28.24  $ 17.48  6.7
Granted 371,389  $ 2.87  $ 2.21 
Expired (339,910) $ 42.99  $ 27.13 
Balance at March 31, 2023 1,377,011  $ 17.76  $ 10.98  8.5
Exercisable at March 31, 2023 487,694  $ 35.04  $ 20.32  7.0
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, 2023:
Service-based options  
Expected term of option (in years)  
5 - 6.25
Expected stock price volatility  
89.8% - 91.8%
Risk-free interest rate  
3.60% - 3.87%
Expected annual dividend yield   0%