Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.24.3
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 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 nine months ended September 30, 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     3,370,411     $ 1.00       9.60     $ -  
Options forfeited    
-
     $
-
      
-
     $
-
  
Options exercised     (1,357 )   $ 3.27      
-
     $
-
  
Outstanding, September 30, 2024     13,671,140     $ 1.00       8.84     $ 81  
                                 
Options vested and exercisable as of September 30, 2024     4,675,005     $ 1.28       8.31     $ 39  
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 and nine months ended September 30, 2023 and 2024 (in thousands):
    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2023     2024     2023     2024  
                         
Research and development   $ 450     $ 275     $ 614     $ 785  
General and administrative     479       330       603       983  
Total stock-based compensation   $ 929     $ 605     $ 1,217     $ 1,768  
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 nine months ended September 30, 2023 and September 30, 2024:
    Nine months Ended
    September 30,
    2023   2024
         
Expected volatility   104% – 108%   104% - 106%
Risk-free interest rate   4.35% – 4.36%   3.77% - 4.65%
Dividend yield  
-
  
-
Expected term   5.92 years   6.25 years