Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information is as follows:

	Stock Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value (in thousands)
Balance as of January 1, 2022		5,300		$	1,164.96		6.8	$	-
Granted		3,046			242.08		9.4
Exercised		-			-		-
Forfeited		(61	)		667.66
Balance as of December 31, 2022		8,285		$	829.32		7.1	$	4
Granted		6,535			84.81		9.3
Exercised		-			-		-		-
Forfeited		(188	)		302.87
Expired		(309	)		3,129.00
Balance as of December 31, 2023		14,323		$	446.93		7.7	$	-
Exercisable as of December 31, 2023		6,682		$	785.07		6.2	$	-

Grant Date Fair Value of Employee Stock Options Estimated Using Black-Scholes Option-Pricing Model with Weighted-Average Assumptions

The grant date fair value of employee stock options was estimated using a Black-Scholes option-pricing model with the following weighted-average assumptions:

	Year Ended December 31,
	2023			2022
Expected term (in years)		6.0			6.0
Expected volatility		75	%		75	%
Risk-free interest rate		3.9	%		2.4	%
Expected dividend yield		-	%		-	%

Total Stock-Based Compensation Expense Recognized in Condensed Consolidated Statements of Operations and Comprehensive Loss

Total stock-based compensation expense recognized in the statements of operations and comprehensive loss is as follows (in thousands):

	Year Ended December 31,
	2023		2022
Research and development	$	184	$	205
General and administrative		290		340
Total stock-based compensation expense	$	474	$	545