Equity Incentive Plans and Warrants (Tables)

9 Months Ended

Sep. 30, 2024

Equity Incentive Plans and Warrants [Abstract]

Stock Option Plans Activity

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

	Number of options			Weighted average exercise price
Outstanding at December 31, 2023		2,102,030		$	2.00
Granted		1,259,421			1.07
Forfeited		(359,807	)		1.96
Outstanding at September 30, 2024		3,001,644		$	1.61
Vested and exercisable at September 30, 2024		1,295,956		$	2.36

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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Research and development	$	49,800		79,561		114,437		131,812
Sales and marketing		18,895		623		43,659		(1,319	)
General and administrative		59,711		424,175		151,908		496,036
Total share-based compensation expense	$	128,406		504,359		310,004		626,529

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]

Valuation Assumptions

Options granted under our 2021 Stock Option Plan for the nine months ended September 30, 2024 to employees and nonemployees were 1,186,521 and 72,900, respectively and the weighted average exercise prices were $1.06 and $1.13, respectively. The weighted-average fair values of the options granted to employees and nonemployees were $0.91 and $0.93, respectively and were estimated using the following Black-Scholes assumptions:

	Employee			Nonemployee
Expected term (in years)		6.25			5.36
Risk‑free interest rate		4.05	%		4.09	%
Dividend yield		—	%		—	%
Expected volatility		110.29	%		111.97	%

Inducement Grants [Member]

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

Valuation 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	%