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Stockholders’ Equity (Tables)
12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Equity Transactions

The Company completed equity transactions in each of 2024 and 2023. The following table provides an overview of those transactions.

  

(In thousands)

 

Date  Description  Type  Number of shares   Transaction Fees   Net Proceeds 
2023                  
October 6, 2023  Private Investment in Public Equity (PIPE)  Common Stock   3,845   $2,208   $25,791 
                      
2024                     
September 30, 2024  Confidentially Marketed Public Offering (CMPO)  Common Stock   4,206   $1,409   $13,591 
Schedule of Estimated Fair Values and Assumptions

 

   2024   2023 
Contractual life   5.0 years    2.07 years 
Volatility   90%   76%
Risk free interest rate   4%   5%
Dividend yield   0.00%   0.00%
Schedule of Stock Warrant Activity

A summary of warrant activity during the years ended December 31, 2024 and 2023 is presented below:

  

   Common Stock 
   Number of
Warrants
  

Weighted

Average

Exercise

Price

  

Weighted

Average

Remaining

Life in

Years

  

Intrinsic

Value

(In thousands)

 
Outstanding, January 1, 2023   6,351,658   $8.21           
Issued   10,889,238    6.93           
Exercised   -    -           
Expired   (111,481)   146.94           
Outstanding, January 1, 2024   17,129,415   $6.49    3.03   $14,096 
Issued   379,610    3.18           
Exercised   -    -           
Expired   (4,846,072)   7.23           
Outstanding and exercisable, December 31, 2024   12,662,953   $6.11    2.80   $8,505