Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.24.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Stock-Based Compensation [Abstract]  
Schedule of Summarizes Activity for Stock Options Under All Plans The following table summarizes activity for stock options under all plans for the year ended December 31, 2023:
                Weighted-        
    Number of           Average        
    Shares     Weighted-     Remaining     Aggregate  
    Underlying     Average     Contractual     Intrinsic  
    Outstanding     Exercise     Term     Value  
    Options     Price     (in Years)     (in thousands)  
Outstanding, December 31, 2022     1,342,670     $ 2.75       8.47     $ 52  
Options granted     8,989,487     $ 0.75       9.61     $ 1,072  
Options forfeited     (21,882 )   $ 4.39       -     $
-
  
Options exercised     (8,189 )   $ 3.27       -     $
-
  
Outstanding, December 31, 2023     10,302,086     $ 1.00       9.34     $ 1,196  
                                 
Options vested and exercisable as of December 31, 2023     915,187     $ 3.02       7.11     $ 96  
Schedule of Company has Recorded Stock-Based Compensation Expense The Company has recorded stock-based compensation expense, which includes expense related to restricted stock units, allocated by functional cost as follows for the years ended December 31, 2022 and 2023 (in thousands):
    Year Ended
December 31,
2022		     Year Ended
December 31,
2023		  
             
Research and development   $ 664     $ 847  
General and administrative     383       920  
Total stock-based compensation   $ 1,047     $ 1,767  
Schedule of Fair Value of Awards Granted The following averaged assumptions were used to calculate the fair value of awards granted to employees, directors and non-employees for the years ended December 31, 2022 and 2023:
    Year Ended
December 31,
2022		     Year Ended
December 31,
2023		  
Expected volatility     101.00 – 105.00 %     104.00 – 108.00 %
Risk-free interest rate       2.90 – 3.96 %     4.35 – 4.37 %
Dividend yield           - %     - %
Expected term           6.25 years       5.50 - 6.25 years