Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.21.2
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Option, Activity
The following is a summary of stock option activity during the nine months ended September 30, 2021:
Number of
options
outstanding		 Weighted
average
exercise
price (*)		 Average
remaining
contractual life
(in years)		 Aggregate
intrinsic value
(in thousands)
(**)
Outstanding – December 31, 2020
 466,742  $ 0.14  8.2 $ 81 
Options granted
 358,177  2.30 
Forfeitures
 (4,545) 0.07 
Options exercised
 (27,461) — 
Outstanding – September 30, 2021
 792,913  1.11  8.5 3,881 
Exercisable – September 30, 2021
 289,720  $ 0.33  7.2 $ 1,642 
(*) $ - Indicates exercise price less than $0.01 per share
(**) Intrinsic value is based on the fair market value of the Company's common stock.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions For the nine months ended September 30, 2021 and 2020, the assumptions used in the Black-Scholes option pricing model, which was used to estimate the grant date fair value per option, were as follows:
Nine Months ended September 30,
2021 2020
Weighted-average Black-Scholes option pricing model assumptions:
Volatility
90.01% - 93.02%
74.61% - 74.89%
Expected term (in years)
5.69 - 5.98
5.55 - 5.87
Risk-free rate
0.69% - 0.82%
0.25% - 0.39%
Expected dividend yield $ —  $ — 
Weighted average grant date fair value per share
$2.07 - 3.00
$0.16 - 0.18
Share-based Payment Arrangement, Expensed and Capitalized, Amount
The following is a summary of stock-based compensation expense:
Three Months ended September 30, Nine Months ended September 30,
2021 2020 2021 2020
Selling, general and administration $ 48,594  $ 1,605  $ 75,049  $ 4,023 
Research and development 3,916  —  10,160  — 
$ 52,510  $ 1,605  $ 85,209  $ 4,023