Quarterly report pursuant to Section 13 or 15(d)

Warrants (Tables)

v3.22.2.2
Warrants (Tables)
 9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
The following table summarizes the Company’s stock-based compensation expense by line item for the three and nine months ended period presented in the condensed consolidated statements of operations (in millions):
Three months ended
September 30,
Nine months ended
September 30,
2022 2021 2022 2021
Research and development $ 8.2  $ 5.8  $ 23.4  $ 22.6 
Selling, general and administrative 11.3 13.3 37.5 67.1
Total $ 19.5  $ 19.1  $ 60.9  $ 89.7 
The fair value of the Warrants at the issuance date was measured using the Black-Scholes-Merton option pricing model. The key inputs used in the valuation were as follows:

Expected term (years) 10
Risk free interest rate 3.0  %
Expected volatility 91.3  %
Dividend yield —  %
Exercise price $ 2.15 
Stock price $ 3.63