Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.24.1.1.u2
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Activity Under the Plans
A summary of activity under the Plans for the three months ended March 31, 2024 is as follows:
Shares
Underlying
Options
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
(Years)
Aggregate
Intrinsic
Value
Outstanding at December 31, 2023 382,779 $ 65.04  8.1 $ — 
Granted 250,000 $ 0.09  9.9
Forfeited 0 $ —  0
Outstanding at March 31, 2024 632,779 $ 39.38  8.7 $
Exercisable at March 31, 2024 176,728 $ 138.32  5.8 $
Schedule of Inputs Used for the Valuation of Options Granted
The following table presents the inputs used for the valuation of options granted, as per the Black-Scholes fair value model:
Three months ended March 31,
2024 2023
Dividend yield —  % — 
Expected price volatility 95.7  % — 
Risk free interest rate 4.9  % — 
Expected term (years) 0.8 — 
Schedule of Stock-Based Compensation Expense Recognized
The total stock-based compensation expense recognized was as follows (in thousands):
Three months ended
March 31,
2024 2023
Research and development expenses $ 30  $ 59 
Selling, general and administrative expenses 244  122 
Total stock-based compensation $ 274  $ 181 
Schedule of Restricted Stock Activity
A summary of the Company’s restricted stock activity and related information is as follows:
Number of
Shares
Weighted
Average
Grant-Date
Fair Value
Unvested at December 31, 2023 1,696,904 $ 0.38 
Granted 750,000 $ 0.09 
Vested (1,322,374) $ 0.27 
Unvested at March 31, 2024 1,124,530 $ 0.32