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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 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 nine months ended September 30, 2024 and 2023 as follows (table in thousands):
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024202320242023
Service-based awards:
Restricted Stock Units$163 $112 $440 $276 
Stock Option Awards158 100 470 438 
Total$321 $212 $910 $714 
Summary of Stock Options Activity
A summary of the Company’s service-based stock option activity for the nine months ended September 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 
Exercised(6,042)1.49 
Forfeited(15,073)1.83 
Expired(1,937)4.79 
Outstanding at September 30, 20241,874,729 $4.10 8.2$4,068 
Exercisable at September 30, 2024632,600 $8.73 7.2$1,105 
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 nine months ended September 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 September 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 nine months ended September 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 September 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 nine months ended September 30, 2024 and 2023 were based on the following assumptions:
Nine Months Ended
September 30, 2024
Nine Months Ended
September 30, 2023
Exercise Price
$1.39 - $1.80
$1.37 - $2.83
Expected Stock Price Volatility
81.8%
81.6% - 81.8%
Risk-free Interest Rate
4.31% - 4.45%
3.41% - 3.46%
Term (years)
5.61 - 5.62
5.6 - 6