During the three‑month periods ended September 30, 2022 and 2021, the Company recognized share-based compensation expense of $0.4 million and $0.9 million, respectively. During the nine-month periods ended September 30, 2022 and 2021, the Company recognized share-based compensation expense of $1.3 and $2.5 million, respectively. Activity in options and restricted stock during the nine-month period ended September 30, 2022 and related balances outstanding as of that date are reflected below. The weighted average fair value per share of options granted to employees for the three-month periods ended September 30, 2022 and 2021 were approximately $0.31 and $2.56, respectively. The weighted average fair value per share of options granted to employees for the nine-month periods ended September 30, 2022 and 2021 were approximately $0.84 and $2.58, respectively.

The following table summarizes share-based compensation expense included within the Company’s consolidated statements of operations:

	For the three-month period ended September 30,					For the nine-month period ended September 30,
(In thousands)	2022			2021		2022		2021
Research and development expense	$	14		$	225	$	66	$	599
Selling, general and administrative expense		351			627		1,254		1,898
Cost of Sales		(1	)		2		0		18
Total	$	364		$	854	$	1,320	$	2,515

A summary of share-based compensation activity for the nine-month period ended September 30, 2022 is presented below:

	Number of Shares (In thousands)			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Intrinsic Value (In thousands)
Balance at January 1, 2022		1,186		$	94.38
Granted		97			1.19
Cancelled		(230	)		128.93
Exercised		—			—
Balance at September 30, 2022		1,053		$	78.24		6.0	$	—
Vested and expected to vest at September 30, 2022		1,053		$	78.24		6.0	$	—
Vested and exercisable at September 30, 2022		713		$	113.62		4.5	$	—

(In thousands)
Restricted Stock and Performance Stock Units	Number of Shares
Nonvested at January 1, 2022		116
Granted		—
Vested		(103	)
Forfeited		(7	)
Nonvested at September 30, 2022		6

Unrecognized compensation cost for unvested stock options, restricted stock awards, and restricted stock units as of September 30, 2022 totaled $0.8 million and is expected to be recognized over a weighted average period of approximately 2.7 years.

During the nine‑month periods ended September 30, 2022, the Company did not make any repurchases of shares.