Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Stock Options Activity

The following table sets forth the activity for the Company’s stock options during the periods presented:

	Number of Options			Weighted- average exercise price per share		Weighted- average remaining contractual term (in years)		Aggregate intrinsic value
Outstanding at December 31, 2022		231,158		$	135.67		7.9	$	—
Granted		76,934			32.02		—		433,020
Cancelled		(32,616	)		70.84		—		11,445
Outstanding at December 31, 2023		275,476			114.38		6.7		—
Granted		90,020			7.71		—		—
Cancelled		(143,417	)		103.19		—		—
Outstanding at December 31, 2024		222,079		$	78.37		7.2	$	—
Vested and exercisable at December 31, 2024		122,219		$	129.02		5.4	$	—

Schedule of Activity for RSUs

The following table sets forth the activity for the Company’s RSUs during the year ended December 31, 2024:

	Restricted Stock Units			Weighted- average grant date fair value
Total nonvested units at December 31, 2023		—		$	—
Granted		34,200			17.75
Vested		(7,050	)		17.75
Cancelled		(11,550	)		17.75
Total nonvested units at December 31, 2024		15,600			17.75

Summary of Stock-based Compensation Expense

The Company recorded stock-based compensation expense related to the issuance of stock as follows (in thousands):

	For the Year Ended December 31,
	2024		2023
Research and development	$	896	$	2,452
General and administrative		2,343		2,975
Total Stock-based compensation	$	3,239	$	5,427

Summary of Fair Value Assumptions of Options Granted Estimated Based on Black-Scholes Model

The fair values of the options granted were estimated based on the Black-Scholes model, using the following assumptions:

	2024			2023
Risk-free interest rate		4.0	%		3.8	%
Expected term (in years)		6.0			6.0
Expected volatility		95.3	%		91.0	%
Expected dividend yield		0	%		0	%