Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring and nonrecurring basis as of December 31, 2023 and 2022 are as follows:

($ in thousands)			Fair Value Measurements at Reporting Date Using
Description	Balance as of December 31, 2023		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents	$	5,744	$	5,744	$	—	$	—

($ in thousands)			Fair Value Measurements at Reporting Date Using
Description	Balance as of December 31, 2022		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents	$	38,058	$	38,058	$	—	$	—

Share-Based Compensation Expense Included in Statements of Operations

The following table presents share-based compensation expense included in the Company’s statements of operations:

	Year Ended December 31,
(in thousands)	2023		2022
Research and development		439		868
General and administrative		2,361		2,660
Stock-based compensation expense	$	2,800	$	3,528

Assumptions for Volatility, Expected life, Dividend Yield and Risk-free Interest Rate

The assumptions for volatility, expected life, dividend yield and risk-free interest rate are presented in the table below:

	Year Ended December 31,
	2023	2022
Risk-free interest rate	3.51 – 4.01%	1.63 – 4.21%
Expected life in years	5.06 – 6.25	5.27 – 6.25
Expected volatility	89.69 – 112.12%	74.49 – 88.75%
Expected dividend yield	—%	—%

Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method

Basic net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted net loss per share is computed using the weighted-average number of shares of common stock outstanding during the period, plus the dilutive effect of outstanding options and warrants, using the treasury stock method and the average market price of the Company’s common stock during the applicable period, unless their effect on net loss per share is antidilutive. The effect of computing diluted net loss per common share was antidilutive for any potentially issuable shares of common stock from the conversion of stock options, unvested restricted stock and warrants and, as such, have been excluded from the calculation.

The computation of basic and diluted net loss per share consists of the following:

	Year Ended December 31,
	2023			2022
Net loss	$	(35,140	)	$	(37,730	)
Weighted-average common shares outstanding, basic and diluted		15,995,323			14,475,354
Net loss per share, basic and diluted	$	(2.20	)	$	(2.61	)

Potentially Dilutive Shares Excluded from Computation of Diluted Net Loss Per Share

Such potential common shares on December 31, 2023 and 2022 consist of the following:

	December 31,
	2023		2022
Common stock options		465,898		693,909
Unvested restricted stock		-		62,604
Warrants		1,452,399		1,528,156
		1,918,297		2,284,669