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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Weighted Average Grant Fair Value of Stock Options using Black-Scholes Option-pricing Model

The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted during the years ended December 31, 2024 and 2023:

 

   Year Ended December 31, 
   2024   2023 
Risk-free interest rate   4.4%   4.1%
Expected term (in years)   5.7    5.6 
Expected volatility   104.9%   86.5%
Expected dividend yield        
Schedule of Stock Option Activity

The following table summarizes option activity with service conditions under the 2021 Plan and the 2017 Plan:

 

   Options  

Weighted

Average

Exercise Price

  

Weighted

Average

Contract Term

(years)

  

Aggregate

Intrinsic

Value

 
Outstanding at January 1, 2024   2,820,187   $40.16    5.6   $         
Granted   1,503,394    3.26           
Exercised   (20,744)   2.80           
Forfeited/Expired   (341,312)   29.51           
Outstanding at December 31, 2024*   3,961,525   $27.27    6.4   $16 
Vested and expected to vest at December 31, 2024   3,961,525   $27.27    6.4   $16 
Exercisable at December 31, 2024   2,586,561   $37.49    4.9   $ 

 

*Options outstanding at December 31, 2024 under the 2021 Plan and 2017 Plan were 2,569,029 and 1,437,496, respectively. Options outstanding at December 31, 2024 under the 2021 Plan include 45,000 awards with performance conditions (see below).
Schedule of Activity Related to RSU Stock-Based Payment Awards

The following table summarizes activity related to RSU stock-based payment awards under the 2021 Plan:

 

  

Number of

Shares

  

Weighted

Average

Grant Date Fair Value

 
Outstanding at January 1, 2024   823,332   $13.77 
Granted   337,080   $2.23 
Released   (400,996)  $11.58 
Forfeited   (99,977)  $13.24 
Outstanding at December 31, 2024   659,439   $9.29 
Schedule of Stock-based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories of its consolidated statements of operations and comprehensive loss:

 

   2024   2023 
   Year Ended December 31, 
   2024   2023 
Cost of revenues  $450   $580 
Research and development   1,287    1,832 
Selling, general and administrative   9,832    12,605 
Stock-based compensation expense  $11,569   $15,017