Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Arrangements by Share-based Payment Award

	Tenth Pre-Paid Advance			June Prepaid Advance
Stock price	$	2.13		$	2.13
Risk free interest rate	5.4		%	5.3		%
Interest rate	5.0		%	5.0		%
Expected volatility	116.7		%	144.0		%
Expected dividend yield	—		%	—		%
Remaining term (in years)	0.2			0.5

The following table summarizes the Company’s stock-based compensation expense by line item for the three and six months ended June 30, 2024 and 2023 (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Research and development	$	(680)	$	209	$	(50)	$	4,344
Selling, general and administrative	1,808		6,498		12,132		12,199
Total	$	1,128	$	6,707	$	12,082	$	16,543

The key inputs used in the valuation were as follows:

Expected term (years)	10.0
Risk free interest rate	3.0		%
Expected volatility	91.3		%
Dividend yield	—		%
Exercise price	$	49.45
Stock price	$	83.49

The key inputs used in the valuation were as follows:

Expected term (year)	4.7
Expected volatility	117.5		%
Dividend yield	—		%
Risk free rate	4.3		%
Estimated fair value per warrant	$	1.82
Exercise price	$	1.37
Stock price	$	2.13

The key inputs used in the valuation were as follows:

Expected term (years)	4.1
Expected volatility	117.5		%
Expected dividend rate	—		%
Risk free rate	4.4		%
Estimated fair value per warrant	$	0.87
Exercise price	$	29.90
Stock price	$	2.13

The key inputs used in the valuation were as follows:

Expected term (years)	4.5
Expected volatility	117.5	%
Expected dividend rate	—	%
Risk free rate	4.3	%
Estimated fair value per warrant	$1.18
Exercise price	$15.41
Stock price	$2.13

The key inputs used in the valuation were as follows:

Expected term (years)	4.3
Expected volatility	117.5	%
Expected dividend rate	—	%
Risk free rate	4.4	%
Estimated fair value per warrant	$1.14
Exercise Price	$14.93
Stock Price	$2.13

The key inputs used in the valuation were as follows:

Expected term (years)	4.6
Expected volatility	117.5		%
Expected dividend rate	—		%
Risk free rate	4.3		%
Estimated fair value per warrant	$	1.20
Exercise price	$	15.41
Stock price	$	2.13

The key inputs used in the valuation were as follows:

Expected term (years)	4.3
Expected volatility	117.5		%
Expected dividend rate	—		%
Risk free rate	4.4		%
Estimated fair value per warrant	$	1.19
Exercise price	$	12.91
Stock price	$	2.13

The key inputs used in the valuation were as follows:

Expected term (years)	4.8
Expected volatility	117.5		%
Expected dividend rate	—		%
Risk free rate	4.3		%
Estimated fair value per warrant	$	1.74
Exercise price	$	2.24
Stock price	$	2.13