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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2024
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, 2024 and 2023 are as follows:

($ in thousands)

Fair Value Measurements at Reporting Date Using

Description

Balance as of
December 31,
2024

Quoted Prices in
Active Markets
for Identical
Assets/Liabilities
(Level 1)

Significant
Other
Observable
Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

Cash equivalents

$

779

$

779

$

$

($ 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

$

$

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:

 

For the Year Ended December 31,

 

(in thousands)

2024

 

 

2023

 

Research and development

$

17

 

 

$

439

 

General and administrative

 

418

 

 

 

2,361

 

Stock-based compensation expense

$

435

 

 

$

2,800

 

 

Potentially Dilutive Shares Excluded from Computation of Diluted Net Loss Per Share Such potential common shares on December 31, 2024 and 2023 consist of the following:

 

 

December 31,

 

 

2024

 

 

2023

 

Common stock options

 

 

33,237

 

 

 

46,589

 

Warrants

 

 

26,555

 

 

 

145,239

 

 

 

59,792

 

 

 

191,828