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Equity-based compensation (Tables)
12 Months Ended
Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Summary of stock based compensation expense

During the years ended December 31, 2022 and 2021, stock-based compensation expenses were as follows:

Year Ended December 31, 

    

2022

    

2021

General and administrative value appreciation right awards

$

1,871

$

42,668

Research and development value appreciation right awards

1,654

General and administrative stock options

754,596

87,467

Research and development stock options

162,892

504,304

General and administrative restricted stock units

129,954

$

1,049,313

$

636,093

Summary of VARs issued and outstanding

The following is a summary of VARs issued and outstanding as of December 31, 2022 and 2021, respectively:

    

    

    

    

Weighted

Average

Weighted

Remaining

Average

Total Intrinsic

Contractual Life

Number of Units

Exercise Price 

Value

(in years)

Outstanding as of December 31, 2021

 

7,190

$

0.50

$

136,038

7.6

Exercised

(1,587)

$

0.50

-

Forfeited

(1,058)

$

0.50

-

Outstanding as of December 31, 2022

4,546

$

0.50

$

5,682

6.5

Value appreciation right awards vested and exercisable at December 31, 2022

2,883

$

0.50

$

3,604

6.5

Summary of stock options outstanding

Weighted

Average

Shares

Weighted

Remaining

Aggregate

Underlying

Average

Contractual

Intrinsic

    

Options

    

Exercise Price

    

 Term (Years)

    

Value

Outstanding at December 31, 2021

53,930

$

54.50

9.6

Granted

36,480

15.00

Forfeited

(777)

143.50

-

Outstanding at December 31, 2022

 

89,633

$

38.00

 

9.1

$

306

Exercisable at December 31, 2022

23,056

$

56.96

8.5

$

Summary of valuation assumptions were used to calculate the estimated fair value of awards granted

The following are the key assumptions used to estimate the fair value of the stock options granted during the years ended December 31, 2022 and 2021, respectively:

    

Year Ended

 

Year Ended

December 31, 

 

December 31, 

2022

 

2021

Expected life

 

5-7 years

5-7 years

Expected volatility

 

73.45%-78.71%

70.6%-73.3%

Risk-free interest rate

 

2.79% -3.98%

0.79% - 1.40%

Expected dividend yield

 

Stock options and warrants  
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Summary of stock options outstanding

    

    

    

Weighted

    

Shares

Average

Underlying

Weighted

Remaining

Aggregate

Options and

Average

Contractual

Intrinsic

Warrants

Exercise Price

 Term (Years)

Value

Legacy BioPharmX options - December 31, 2022 and 2021

 

316

$

3,763.55

 

0.4

$

Legacy BioPharmX warrants - December 31, 2021

 

4,280

$

4,360.50

 

1.8

$

Expired

 

(2,253)

$

4,280.06

 

Legacy BioPharmX warrants - December 31, 2022

 

2,027

$

5,250.00

 

1.8

$

Restricted Stock Units  
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Summary of stock options outstanding

    

    

    

Weighted

    

Shares

Average

Underlying

Remaining

Aggregate

Restricted

Grant Date

Contractual

Intrinsic

Stock Units

Fair Value

 Term (Years)

Value

Outstanding at December 31, 2021

 

$

 

$

Granted

9,000

$

15.35

1.0

139,500

Vested

 

(6,000)

$

15.35

 

$

Unvested at December 31, 2022

 

3,000

$

15.35

 

0.2

$