STOCKBASED COMPENSATION (Tables)
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12 Months Ended |
Dec. 31, 2021 |
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| Share-based Payment Arrangement [Abstract] |
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| Disclosure of Share-based Compensation Arrangements by Share-based Payment Award |
The following table contains information about both plans as of December 31, 2021:
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Awards
Reserved
for Issuance |
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Awards
Exercised |
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Awards
Outstanding |
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Awards
Available
for Grant |
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| 2016 Equity Incentive Plan |
2,000,000 |
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— |
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499,953 |
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1,500,047 |
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| 2018 Equity Incentive Plan |
43,976,425 |
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3,875,921 |
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14,409,604 |
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25,690,900 |
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| 2019 Equity Incentive Plan |
84,150,000 |
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34,884 |
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73,014,717 |
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11,100,399 |
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The service period is generally the vesting period. The following weighted-average assumptions were used to calculate stock-based compensation:
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Year Ended December 31, |
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2021 |
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2020 |
| Expected term |
5 years |
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6 years |
| Volatility |
106.7 |
% |
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104.6 |
% |
| Risk-Free Interest Rate |
0.8 |
% |
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0.4 |
% |
| Dividend Yield |
0 |
% |
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0 |
% |
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| Share-based Payment Arrangement, Option, Activity |
The following table summarizes the Company’s stock option activity and related information for the year ended December 31, 2021 and 2020:
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Number
of Shares |
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Weighted-
Average
Exercise
Price
Per Share |
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Weighted-
Average
Remaining Contractual
Life |
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Aggregate
Intrinsic
Value of In-
the-Money
Options |
| Options Outstanding as of December 31, 2019 |
12,365,295
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$ |
1.61 |
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| Options Granted |
12,803,918 |
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$ |
0.08 |
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| Options Exercised |
— |
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$ |
— |
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| Options Forfeited |
(7,203,334) |
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$ |
1.19 |
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| Options Expired |
(473,049) |
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$ |
1.51 |
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| Options Outstanding as of December 31, 2020 |
17,492,830
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$ |
0.41
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| Options Granted |
88,627,220 |
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$ |
0.23 |
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| Options Exercised |
(3,910,805) |
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$ |
0.08 |
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| Options Forfeited |
(13,547,745) |
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$ |
0.15 |
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| Options Expired |
(410,120) |
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$ |
0.41 |
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| Options Outstanding as of December 31, 2021 |
88,251,380
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$ |
0.20
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8.8 years |
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$ |
10,334,294
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| Options Exercisable as of December 31, 2021 |
35,661,302
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$ |
0.27
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7.6 years |
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$ |
3,591,052
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| Share-based Payment Arrangement, Activity |
The following table sets forth the total stock-based compensation expense resulting from stock options and restricted grants of common stock to employees, directors and non-employee consultants in the consolidated statement of operations which are included in selling, general and administrative expenses:
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(in thousands, except for number of shares or options)
For the Year Ended |
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December 31, 2021 |
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December 31, 2020 |
| Type of Award |
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Number of
Shares or
Options
Granted |
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Stock-Based
Compensation
Expense |
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Number of
Shares or
Options
Granted |
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Stock-
Based
Compensation
Expense |
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| Stock Options |
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89,930,019 |
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$ |
2,415 |
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4,174,428 |
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$ |
1,868 |
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| Stock Grants: |
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| Employees (Common Stock) |
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250,000 |
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68 |
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740,580 |
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142 |
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| Directors (Common Stock) |
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1,917,837 |
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494 |
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173,610 |
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105 |
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| Non–Employee Consultants (Common Stock) |
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4,556,603 |
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1,078 |
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715,065 |
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60 |
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| Total Stock–Based Compensation Expense |
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$ |
4,055
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$ |
2,175
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