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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The following table summarizes the stock option activity during the year ended December 31, 2024:
Shares Weighted Average
Exercise Price
Weighted Average
Remaining Contractual Term
(in Years)
Aggregate
Intrinsic Value
(in thousands)
Outstanding, January 1, 20244,579,659 $14.11 8.37$25 
Granted1,522,907 1.88 
Exercised— — 
Cancelled/Forfeited(1,091,446)11.82 
Expired(61,104)16.96 
Outstanding as of December 31, 20244,950,016 $10.82 7.99$1,818 
Options exercisable as of December 31, 20242,830,913 $13.82 7.51$593 
Vested and expected to vest as of December 31, 20244,950,016 $10.82 7.99$1,818 
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
Activity with respect to the Company’s restricted stock units during the year ended December 31, 2024 is as follows:
SharesWeighted Average
Grant Date Fair Value
Nonvested shares at December 31, 202332,558 $4.30 
Granted308,700 1.92 
Vested/Issued(32,558)4.30 
Forfeited(52,210)1.92 
Nonvested shares at December 31, 2024256,490 $1.92 
Schedule of Recognized Compensation Cost Restricted Stock Units
The Company recognized the following compensation cost related to employee and non-employee share-based compensation activity for the periods presented (in thousands):
Year Ended December 31,
20242023
Selling, general and administrative$6,782 $7,450 
Research and development4,057 4,504 
Total$10,839 $11,954 
Schedule of Stock Options Valuation Assumptions
The calculation was based on the following assumptions:
Year Ended December 31,
20242023
Weighted average grant date fair value (per share)$1.41$6.83
Risk-free interest rate
4.13% - 4.47%
3.42% - 4.67%
Expected volatility
88.29% - 91.46%
89.94% - 101.49%
Expected term (in years)
5.0 - 6.1
5.2 - 6.1
Expected dividend yield