Annual report pursuant to Section 13 and 15(d)

SHARE BASED COMPENSATION (Tables)

v3.23.1
SHARE BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2022
SHARE BASED COMPENSATION  
Summary of components of share-based compensation expense

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Year Ended December 31,

($’s in thousands)

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2022

    

2021

Research and development

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$

73

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$

—

Selling, general and administrative

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4,352

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2,466

Total non-cash compensation expense related to share-based compensation included in operating expense

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$

4,425

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$

2,466

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Schedule of weighted-average key assumptions used in determining the fair value of options granted

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2022

Risk-free interest rate

 

2.89% - 4.20%

Expected volatility

 

80.25% - 86.18%

Weighted average expected volatility

 

85.45%

Expected term (years)

 

5.60 - 6.35

Expected dividend yield

 

0%

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Schedule of stock option activities

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Weighted

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Weighted

    

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 average

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Number

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 average

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Aggregate

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remaining

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of

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exercise

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intrinsic

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contractual 

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Shares

    

 price

    

 value

    

life (years)

Outstanding options at December 31, 2021

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2,104,334

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$

0.79

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$

9,661,393

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4.68

Granted

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1,149,000

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3.59

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—

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9.53

Exercised

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(155,649)

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1.01

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141,019

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—

Forfeited

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(105,500)

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3.20

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9,805

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—

Expired

 

(32,185)

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1.39

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17,058

 

—

Outstanding options at December 31, 2022

 

2,960,000

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$

1.76

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$

2,217,815

 

5.65

Options vested and exercisable at December 31, 2022

 

1,897,500

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$

0.76

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$

2,209,600

 

3.50

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Schedule of restricted stock units

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Weighted

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average

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Number of

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grant date

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 units

    

Fair value

Unvested balance at December 31, 2021

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715,030

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$

4.12

Granted

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1,907,225

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4.10

Vested

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(293,707)

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4.33

Forfeited

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(67,500)

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4.80

Unvested balance at December 31, 2022

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2,261,048

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$

4.05

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