STOCK-BASED COMPENSATION (Tables) - 10K

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

The Company recorded stock-based compensation related to stock options issued under the GRI Operations Plan and A&R 2018 Plan in the following expense categories of its accompanying statements of operations for the years ended December 31, 2023 and 2022:

	For the Year Ended December 31,
	2023		2022
Research and development	$	—	$	—
General and administrative	388		25
Total	$	388	$	25

The Company recorded stock-based compensation related to equity-based awards issued under the GRI Operations Plan and the A&R 2018 Plan in the following expense categories of its accompanying consolidated statements of operations for the three months ended March 31, 2024 and 2023:

	For the Three Months Ended March 31,
	2024		2023
Research and development	$	—	$	—
General and administrative	37		13
Total	$	37	$	13

Schedule of Activity of Stock Options Granted

The table below represents the activity of stock options granted to employees and non-employees for the year ended December 31, 2023:

	Number of options	Weighted average exercise price		Weighted average remaining contractual term (years)
Outstanding at December 31, 2022	1,232	$	3,593.85	4.71
Granted	2,427	$	216.56
Exercised	—	—
Forfeited	(1,156)	$	3,263.98
Outstanding at December 31, 2023	2,503	$	471.45	9.55
Exercisable at December 31, 2023	328	$	2,198.07	8.81
Vested and expected to vest at December 31, 2023	2,503	$	471.45	9.55

Schedule of Valuation Assumptions

The Black-Scholes option-pricing model was used to estimate the grant date fair value of each stock option grant at the time of grant using the following weighted-average assumptions:

	For the Year Ended December 31,
	2023			2022
Volatility	129.54		%	90.39		%
Expected term in years	5.84			5.98
Dividend rate	0.00		%	0.00		%
Risk-free interest rate	4.34		%	2.00		%
Fair value of common stock on grant date	$	193.90		$	351.26