Annual report [Section 13 and 15(d), not S-K Item 405]

Stock-Based Compensation (Tables)

v3.25.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Activity Under the Plans
A summary of stock option activity under the Plans and the 2022 Plan for the year ended December 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 92  $ 2,496,198  6.8 $ — 
Granted 12  $ 2,025  4.2
Forfeited (2) $ 4,253  8.9
Outstanding at December 31, 2024 102  $ 2,251,627  5.6 $ — 
Exercisable at December 31, 2024 87  $ 2,224,419  5.6 $ — 
Schedule of Determining the Fair Value of Stock Options Granted
The following table presents the weighted-average inputs used for the valuation of options granted, as per the Black-Scholes fair value model for the years ended December 31, 2024 and 2023:
Year Ended
December 31,
2024
Year Ended
December 31,
2023
Dividend yield —% —%
Expected price volatility
95.7%
83.6% - 107.3%
Risk free interest rate
4.9%
4.3% - 4.8%
Expected term 0.8 years 5.8 years
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 84 $ 32,590 
Granted(1)
12,662  $ 409 
Vested(1)
(4,307) $ 1,047 
Cancelled (1,014) $ 678 
Unvested at December 31, 2024 7,425 $ 367 
(1) Includes 3,334 RSUs granted and vested under the 2024 Inducement Awards with approximately $0.7 million of total recognized compensation cost for the year ended December 31, 2024.
Schedule of Stock-Based Compensation Expense Recognized
The total stock-based compensation expense recognized was as follows (in thousands):
Year Ended
December 31,
2024
Year Ended
December 31,
2023
   
Research and development expenses $ 77  $ 178 
Selling, general and administrative expenses 5,173  536 
Total stock-based compensation $ 5,250  $ 714