Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Stock-Based Compensation [Abstract]

Schedule of Stock Based Compensation

Total stock-based compensation, consists of the following:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2024		2023		2024		2023
General and administrative expense	$	39,240	$	169,794	$	90,821	$	265,736
Research and development expense		33,270		48,463		54,408		93,104
	$	72,510	$	218,257	$	145,229	$	358,840

Schedule of Options Granted under Black-Scholes Option-Pricing Model with Weighted-Average Assumptions

Options granted under the 2022 Plan during the six months ended June 30, 2024 and 2023 were valued using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	For the Six Months Ended June 30,
	2024			2023
Expected term (years)		5.87			5.46
Risk-free interest rate		3.99	%		3.67	%
Expected volatility		124.83	%		113.12	%
Expected dividend yield		—	%		—	%

Schedule of Stock Option Activity

The following is a summary of stock option activity under the Company’s stock option Plans for the six months ended June 30, 2024:

	Number of Shares			Weighted Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Options outstanding at January 1, 2024		175,686			34.60		—		—
Forfeited		(15,465	)		77.67		—		—
Exercised		—			—		—		—
Granted		66,000			3.18
Options outstanding at June 30, 2024		226,221			22.49		8.2		—
Options exercisable at June 30, 2024		126,972			35.54		7.4		—