Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2024

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of the Company's Warrants Outstanding

The following table is a summary of the Company’s warrants outstanding as of September 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		580,610		580,610		580,610	$	0.0012	February 13, 2024	Until Exercised in Full
Series A Warrants		545,933		545,933		545,933	$	8.16	February 13, 2024	February 13, 2029
Modified Series A Warrants(1)		373,176		373,176		373,176	$	0.01	February 13, 2024	February 13, 2029
Series B Warrants		665,826		665,826		665,826	$	8.16	February 13, 2024	November 13, 2024
Series C Warrants(2)		643,973		643,973		643,973	$	8.16	February 13, 2024	November 13, 2024 or February 13, 2029
Modified Series C Warrants(1)		250,627		250,627		250,627	$	0.01	February 13, 2024	February 13, 2029
Representativesʼ Warrants		45,955		45,955		45,955	$	13.47	August 13, 2024	February 13, 2029
Total warrants		3,106,100		3,106,100		3,106,100

(1)The Modified Series A Warrants and Modified Series C Warrants represent Series A Warrants and Series C Warrants, respectively, modified under the September 2024 Exercise Price Warrant Amendment.

(2)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 September 30,			Nine Months Ended September 30,
	2024	2023		2024	2023
Risk free interest rate	3.8% – 3.9%		—	3.8% – 4.5%	1.3% – 3.4%
Expected option term (in years)	5.8 – 6.0		—	5.5 – 6.0	5.5 – 6.0
Expected volatility of common stock	105.8% – 106.6%		—	105.8% – 107.1%	99.3% – 103.6%
Expected dividend yield	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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Research and development	$	3,016	$	—	$	4,231	$	2,841
Selling, general and administrative		128,571		281,758		507,963		843,629
Total stock-based compensation expense	$	131,587	$	281,758	$	512,194	$	846,470

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Stock options	$	130,054	$	281,758	$	510,661	$	846,470
ESPP		1,533		—		1,533		—
Total stock-based compensation expense	$	131,587	$	281,758	$	512,194	$	846,470

ESPP [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Estimated Fair Value of Stock Option Award

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

	Three and Nine Months Ended September 30,
	2024	2023
Risk free interest rate	4.9%		—
Expected option term (in years)	0.5		—
Expected volatility of common stock	91.5%		—
Expected dividend yield	0.0%		—