Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

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

	Tenth Pre-Paid Advance			Initial July Prepaid Advance			First Supplemental Advance
Stock price	$	0.98		$	0.98		$	0.98
Risk free interest rate	4.8		%	4.6		%	4.5		%
Interest rate	5.0		%	5.0		%	5.0		%
Expected volatility	106.2		%	115.7		%	111.6		%
Expected dividend yield	—		%	—		%	—		%
Remaining term (in years)	0.2			0.3			0.4

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

	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
Research and development	$	(1,341)	$	626	$	(1,390)	$	4,970
Selling, general and administrative	2,987		6,282		15,120		18,481
Total	$	1,647	$	6,908	$	13,730	$	23,451

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)	4.5
Expected volatility	117.3		%
Dividend yield	—		%
Risk free rate	3.4		%
Estimated fair value per warrant	$	0.75
Exercise price	$	1.37
Stock price	$	0.98

The key inputs used in the valuation were as follows:

Expected term (years)	3.9
Expected volatility	117.3		%
Expected dividend rate	—		%
Risk free rate	3.6		%
Estimated fair value per warrant	$	0.26
Exercise price	$	29.90
Stock price	$	0.98

The key inputs used in the valuation were as follows:

Expected term (years)	4.2
Expected volatility	117.3		%
Expected dividend rate	—		%
Risk free rate	3.6		%
Estimated fair value per warrant	$	0.39
Exercise price	$	15.41
Stock price	$	0.98

The key inputs used in the valuation were as follows:

Expected term (years)	4.0
Expected volatility	117.3		%
Expected dividend rate	—		%
Risk free rate	3.6		%
Estimated fair value per warrant	$	0.37
Exercise Price	$	14.93
Stock Price	$	0.98

The key inputs used in the valuation were as follows:

Expected term (years)	4.3
Expected volatility	117.3		%
Expected dividend rate	—		%
Risk free rate	3.6		%
Estimated fair value per warrant	$	0.41
Exercise price	$	15.41
Stock price	$	0.98

The key inputs used in the valuation were as follows:

Expected term (years)	4.0
Expected volatility	117.3		%
Expected dividend rate	—		%
Risk free rate	3.6		%
Estimated fair value per warrant	$	0.40
Exercise price	$	12.91
Stock price	$	0.98

The key inputs used in the valuation were as follows:

Expected term (years)	5.5
Expected volatility	117.3		%
Expected dividend rate	—		%
Risk free rate	3.6		%
Estimated fair value per warrant	$	0.70
Exercise price	$	2.24
Stock price	$	0.98

The key inputs used in the valuation were as follows:

Expected term (years)	4.8
Expected volatility	117.3		%
Expected dividend rate	—		%
Risk free rate	3.6		%
Estimated fair value per warrant	$	0.70
Exercise price	$	2.70
Stock price	$	0.98

The key inputs used in the valuation were as follows:

Expected term (years)	4.9
Expected volatility	117.3		%
Expected dividend rate	—		%
Risk free rate	3.6		%
Estimated fair value per warrant	$	0.75
Exercise price	$	1.76
Stock price	$	0.98