Equity Incentive Plans and Warrants (Tables)

6 Months Ended

Jun. 30, 2024

Equity Incentive Plans and Warrants [Abstract]

Stock Option Plan Activity

Activity under the Company’s stock option plans for the six months ended June 30, 2024 was as follows:

	Number of options			Weighted average exercise price
Outstanding at December 31, 2023		2,102,030		$	2.00
Granted		1,062,421			1.06
Forfeited		(243,312	)		2.09
Outstanding at June 30, 2024		2,921,139		$	1.65
Vested and exercisable at June 30, 2024		1,207,595		$	2.53

Share-based Compensation Expense

The following table shows the share-based compensation expense related to vested stock option grants to employees and nonemployees by financial statement line item on the accompanying condensed statement of comprehensive loss:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Research and development	$	34,629		27,192		64,637		52,251
Sales and marketing		18,246		602		24,764		(1,942	)
General and administrative		51,138		37,422		92,197		71,861
Total share-based compensation expense	$	104,013		65,216		181,598		122,170

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Warrants Valuation Assumptions

The common stock was valued at $1,133,480, based on the Company’s stock price. The pre-funded warrants and common warrants were valued at $1,615,701 and $1,854,099, respectively, using the following Black-Scholes assumptions:

	Pre-funded warrants			Common warrants
Expected term (in years)		4			4
Risk‑free interest rate		3.83	%		3.83	%
Dividend yield		—	%		—	%
Expected volatility		100.25	%		100.25	%
Exercise price	$	0.0001		$	1.095
Stock price	$	0.86		$	0.86
Black-Scholes value	$	0.86		$	0.58

2021 Stock Option Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Estimated Using Assumptions

Options granted under our 2021 Stock Option Plan for the six months ended June 30, 2024 to employees and nonemployees were 1,059,921 and 2,500, respectively and the weighted average exercise prices were $1.06 and $0.79, respectively. The weighted-average fair values of the options granted to employees and nonemployees were $0.90 and $0.39, respectively and were estimated using the following Black-Scholes assumptions:

	Employee			Nonemployee
Expected term (in years)		6.25			1.50
Risk‑free interest rate		4.06	%		4.53	%
Dividend yield		—	%		—	%
Expected volatility		110.40	%		105.34	%

Inducement Grant [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Estimated Using Assumptions

On February 12, 2024, the Company awarded, outside the 2021 Plan, our Chief Commercial Officer a stock option grant for the right to purchase 100,000 shares of common stock at an exercise price of $1.10 per share (inducement grant), which was approved by the Compensation committee. The inducement grant will vest in equal installments over four years provided the employee remains employed by the Company on the vesting date. The fair value of the inducement grant was $0.94 and was estimated using the following assumptions:

	Inducement
Expected term (in years)		6.25
Risk‑free interest rate		4.10	%
Dividend yield		—	%
Expected volatility		109.64	%