STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Awards Granted for Options and RSUs During the Period

For the three months ended March 31, 2024, the Company granted options and RSUs to employees and directors as follows.

	Three Months Ended March 31, 2024
	Award amount	Exercise price range		Vesting period	Expiration
Options	575,000	$	2.33	1 year - 4 years	10 years
RSUs	435,000	$	—	4 years	—

Summary of Underlying Data Used for Computing the Fair Value of the Options

The underlying data used for computing the fair value of the options are as follows:

	Three Months Ended March 31,
	2024
Fair value of common stock	$1.88 - $1.94
Dividend yield	0	%
Expected volatility	104.63% - 105.71%
Risk-free interest rate	3.95	%
Expected term	6 years

Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount

The following table illustrates the effect of stock-based compensation on the line items on the unaudited condensed consolidated statements of operations:

	Three Months Ended March 31,
(in thousands)	2024		2023
Research and development expenses	$	163	$	44
General and administrative	822		812
Total	$	985	$	856