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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]  
Summary of Total Stock-Based Compensation Expense
The Company recognized total stock-based compensation expense during the three months ended March 31, 2024 and 2023 as follows (table in thousands):
Three Months Ended
March 31,
20242023
Service-based awards:
Restricted Stock Units$118 $45 
Stock Option Awards133 148 
Total$251 $193 
Summary of Stock Options Activity
A summary of the Company’s service-based stock option activity for the three months ended March 31, 2024 is as follows:
Service Based Stock Option AwardsShares
Underlying
Options
Weighted
Average Exercise
Price
Weighted
Average
Remaining
Contractual
Term
Aggregate
Intrinsic Value
(in $1,000's)
Outstanding at January 1, 20241,328,621 $5.22 
Granted549,160 1.39 
Forfeited(1,750)2.06 
Outstanding at March 31, 20241,876,031 $4.10 8.7$380,399 
Exercisable at March 31, 2024430,662 $12.14 7.4$57,960 
Restricted stock awards - performance based awards  
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]  
Summary of Restricted Stock Awards
A summary of the Company’s performance based restricted stock awards during the three months ended March 31, 2024 is as follows:
Performance Based Restricted Stock AwardsNumber of SharesWeighted Average
Grant-Date
Fair Value
Unvested at January 1, 2024891 $62.70 
Unvested at March 31, 2024891 $62.70 
Restricted stock units - service based awards  
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]  
Summary of Restricted Stock Awards
A summary of the Company’s service-based restricted stock units during the three months ended March 31, 2024 is as follows:
Service Based Restricted Stock UnitsNumber of SharesWeighted Average
Grant-Date
Fair Value
Unvested at January 1, 2024258,885 $1.83 
Granted249,990 1.39 
Vested(67,657)1.37 
Unvested at March 31, 2024441,218 $1.65 
Stock Option Awards  
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]  
Summary of Stock Option Assumptions
The fair value of the service-based stock option awards granted for the three months ended March 31, 2024 were based on the following assumptions:
Three Months Ended March 31, 2024Three Months Ended March 31, 2023
Exercise price
$1.39
N/A
Expected stock price volatility
81.8%
N/A
Risk-free interest rate
4.31%
N/A
Term (years)
5.61 - 5.62
N/A