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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 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 and six months ended June 30, 2024 and 2023 as follows (table in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2024202320242023
Service-based awards:
Restricted Stock Units$159 $119 $277 $164 
Stock Option Awards179 190 312 338 
Total$338 $309 $589 $502 
Summary of Stock Options Activity
A summary of the Company’s service-based stock option activity for the six months ended June 30, 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 
Granted569,160 1.40 
Forfeited(2,500)2.29 
Expired(250)2.83 
Outstanding at June 30, 20241,895,031 $4.08 8.5$529,694 
Exercisable at June 30, 2024455,511 $11.57 7.2$88,240 
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 six months ended June 30, 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 June 30, 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 six months ended June 30, 2024 is as follows:
Service Based Restricted Stock UnitsNumber of SharesWeighted Average
Grant-Date
Fair Value
Unvested at January 1, 2024258,885 $1.97 
Granted466,656 1.58 
Vested(191,232)2.18 
Unvested at June 30, 2024534,309 $1.48 
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 six months ended June 30, 2024 and 2023 were based on the following assumptions:
Six Months Ended June 30, 2024Six Months Ended June 30, 2023
Exercise Price
$1.39 - $1.80
$1.37 - $2.83
Expected Stock Price Volatility
81.8%
81.6% - 81.9%
Risk-free Interest Rate
4.31% - 4.45%
3.41% - 3.55%
Term (years)
5.61 - 5.62
4 - 6