Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Summary of the Company's Warrants Outstanding

The following table is a summary of the Company’s warrants outstanding as of June 30, 2024:

					Shares of
	Number of		Number of		Common Stock
	Warrants Outstanding		Warrants Exercisable		Underlying Warrants		Exercise Price		Initial Exercise Date	Expiration Date
Pre-Funded Warrants		665,046		665,046		665,046	$	0.0012	February 13, 2024	Until Exercised in Full
Series A Warrants		919,109		919,109		919,109	$	8.16	February 13, 2024	February 13, 2029
Series B Warrants		716,888		716,888		716,888	$	8.16	February 13, 2024	November 13, 2024
Series C Warrants(1)		919,109		919,109		919,109	$	8.16	February 13, 2024	November 13, 2024 or February 13, 2029
Representativesʼ Warrants		45,955		—		45,955	$	13.47	August 13, 2024	February 13, 2029
Total warrants		3,266,107		3,220,152		3,266,107

(1)The Series C Warrants are subject to a vesting schedule and may only be exercised to the extent and in proportion to a holder of the Series C Warrants exercising its corresponding Series B Warrants, subject to accelerated vesting pursuant to the Warrant Amendment described above. The Series C Warrants expire on November 13, 2024, provided that to the extent and in proportion to a holder of the Series C Warrants have vested based on the exercise of the corresponding Series B Warrants, such Series C Warrants will expire on February 13, 2029.

Summary of Estimated Fair Value of Stock Option Award

The estimated fair value of each stock option award granted was determined on the date of grant using the Black-Scholes option-pricing valuation model with the following assumptions:

	Three Months Ended June 30,		Six Months Ended June 30,
	2024	2023	2024	2023
Risk free interest rate	4.46%	3.39%	4.46%	1.34% - 3.39%
Expected option term	5.5 Years	5.5 Years	5.5 Years	5.5 - 6.0 Years
Expected volatility of common stock	107.11%	103.64%	107.11%	99.34% - 103.64%
Expected dividend yield	0.0%	0.0%	0.0%	0.0%

Summary of Recognized Stock-Based Compensation Expense

The Company recognized stock-based compensation expense as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Research and development	$	—	$	—	$	1,215	$	2,841
Selling, general and administrative		126,578		280,140		379,392		561,871
Total stock-based compensation expense	$	126,578	$	280,140	$	380,607	$	564,712