Subsequent Events |
3 Months Ended |
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Mar. 31, 2025 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events In April 2025, the Company's Board of Directors approved the grant of 1,316,318 restricted stock awards ("RSAs") to certain current employees, executive officers, and directors under the 2022 Plan and 2024 Plan. Additionally, 627,500 RSAs were granted to eight newly hired employees as an inducement equity award (the "April 2025 Inducement Award") outside of the Company's equity plans, in accordance with Nasdaq Listing Rule 5635(c)(4).
The RSAs issued under the 2022 Plan and 2024 Plan were granted across two separate grant dates. On April 25, 2025, the Company granted 1,016,318 RSAs, when the stock price was $1.72 per share, with a total estimated grant date fair value of approximately $1.7 million. On May 6, 2025, the Company granted 300,000 RSAs, when the stock price was $1.65 per share, with a total estimated grant date fair value of approximately $0.5 million. The April 2025 Inducement Award was granted on May 6, 2025, when the Company's stock price was $1.65 per share, with a total estimated grant date fair value of approximately $1.0 million. All RSAs granted will fully vest on the second anniversary of the grant date.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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