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Stock Based Compensation (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Expense

The Company recognized stock-based compensation expense in the Condensed Consolidated Statements of Operations as follows (in thousands):

 

 

Three Months Ended March 31,

 

 

2025

 

 

2024

 

Research and development

 

$

131

 

 

$

116

 

General and administrative

 

 

432

 

 

 

301

 

Total stock-based compensation expense

 

$

563

 

 

$

417

 

Schedule of Option Activity for Share-Based Payment Arrangement

The following table shows a summary of all stock option activity for the three months ended March 31, 2025:

 

 

Number of
Underlying
Shares

 

 

Weighted-
Average
Exercise Price
Per Share

 

 

Weighted-
Average
Contractual
Life
Remaining
in Years

 

 

Aggregate
Intrinsic Value

 

Outstanding as of January 1, 2025

 

 

20,691,571

 

 

$

1.60

 

 

 

 

 

 

 

Granted

 

 

134,600

 

 

 

0.72

 

 

 

 

 

 

 

Forfeited

 

 

(116,000

)

 

 

1.02

 

 

 

 

 

 

 

Expired

 

 

(2,627

)

 

 

338.40

 

 

 

 

 

 

 

Outstanding as of March 31, 2025

 

 

20,707,544

 

 

$

1.56

 

 

 

6.61

 

 

$

9,482

 

Exercisable as of March 31, 2025

 

 

17,848,421

 

 

$

1.63

 

 

 

6.18

 

 

$

8,182

 

Vested and expected to vest

 

 

20,707,544

 

 

$

1.56

 

 

 

6.61

 

 

$

9,482