Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
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 three months ended March 31, 2024:
                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, 2023     10,302,086     $ 1.00       9.34     $ 1,196  
Options granted     19,000     $ 0.83       9.82     $ 10  
Options forfeited    
-
    $
-
     
-
    $
-
 
Options exercised     (581 )   $ 3.27      
-
    $
-
 
Outstanding, March 31, 2024     10,320,505     $ 1.00       9.09     $ 6,006  
                                 
Options vested and exercisable as of March 31, 2024     3,038,175     $ 1.45       8.58     $ 1,516  
Schedule of 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 three months ended March 31, 2023 and 2024 (in thousands):
    Three Months Ended  
    March 31,  
    2023     2024  
             
Research and development   $ 82     $ 228  
General and administrative     62       294  
Total stock-based compensation   $ 144     $ 522  
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 three months ended March 31, 2024:
    Three Months Ended  
    March 31,  
    2023     2024  
             
Expected volatility    
-
      106.48 %
Risk-free interest rate    
-
      4.05 %
Dividend yield    
-
     
-
%
Expected term    
-
      6.25 years