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Common Stock Warrants (Tables)
6 Months Ended
Jun. 30, 2024
Warrants and Rights Note Disclosure [Abstract]  
Summary of Fair Value of the Warrants Estimated on Date of Grant Using Assumptions

The fair value of the warrants issued to placement agents in 2024 and 2023 was estimated on the date of grant using the following assumptions:

 

 

 

2024

 

2023

 

 

Minimum

 

Maximum

 

Minimum

 

Maximum

Expected life (in years)

 

5.0

 

5.0

 

4.0

 

5.0

Expected volatility

 

118.6%

 

118.6%

 

116.1%

 

123.9%

Risk-free interest rate

 

4.50%

 

4.50%

 

3.98%

 

4.24%

Dividend yield

 

0%

 

0%

 

0%

 

0%

Summary of the Company's Outstanding Warrants

A summary of the Company’s outstanding warrants as of June 30, 2024 is as follows:

 

Class of Shares

 

Number of Warrants

 

 

Exercise Price

 

 

Expiration Date

Common Stock

 

 

500

 

 

$

104.00

 

 

July 1, 2026

Common Stock

 

 

500

 

 

$

104.00

 

 

November 15, 2026

Common Stock

 

 

1,727

 

 

$

625.00

 

 

November 10, 2026

Common Stock

 

 

10,000

 

 

$

31.25

 

 

August 9, 2027

Common Stock

 

 

13,000

 

 

$

6.60

 

 

July 10, 2028

Common Stock

 

 

20,500

 

 

$

4.80

 

 

July 14, 2028

Common Stock

 

 

13,270

 

 

$

4.92

 

 

August 4, 2028

Common Stock

 

 

188,400

 

 

$

0.935

 

 

May 9, 2029

Common Stock

 

 

4,710,000

 

 

$

0.85

 

 

May 13, 2025

Common Stock

 

 

7,065,000

 

 

$

0.85

 

 

May 14, 2029

  Total

 

 

12,022,897