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

    

Year Ended December 31,

($’s in thousands)

2022

    

2021

Research and development

$

73

$

Selling, general and administrative

 

4,352

 

2,466

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

$

4,425

$

2,466

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

    

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%

Schedule of stock option activities

Weighted

    

    

Weighted

    

    

 average

Number

 average

Aggregate

remaining

of

exercise

intrinsic

contractual 

    

Shares

    

 price

    

 value

    

life (years)

Outstanding options at December 31, 2021

2,104,334

$

0.79

$

9,661,393

4.68

Granted

1,149,000

3.59

9.53

Exercised

(155,649)

1.01

141,019

Forfeited

(105,500)

3.20

9,805

Expired

 

(32,185)

 

1.39

 

17,058

 

Outstanding options at December 31, 2022

 

2,960,000

$

1.76

$

2,217,815

 

5.65

Options vested and exercisable at December 31, 2022

 

1,897,500

$

0.76

$

2,209,600

 

3.50

Schedule of restricted stock units

    

    

    

Weighted

average

Number of

grant date

    

 units

    

Fair value

Unvested balance at December 31, 2021

715,030

$

4.12

Granted

1,907,225

4.10

Vested

(293,707)

4.33

Forfeited

(67,500)

4.80

Unvested balance at December 31, 2022

2,261,048

$

4.05