STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

recorded stock-based compensation related to stock options issued under the Vallon’s 2018 Equity Incentive Plan (2018 Plan) in the following expense categories of its accompanying statements of operations for the three months ended March 31, 2023 and 2022:

	For the Three Months Ended March 31,
	2023		2022
Research and development	$	6	$	18
General and administrative	79		163
Total	$	85	$	181

Activity of Stock Options Granted

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

	Number of options	Weighted average exercise price		Weighted average remaining contractual term (years)
Outstanding at December 31, 2022	23,142	$	118.05	8.05
Granted	—	—
Exercised	—	—
Forfeited	—	—
Outstanding at March 31, 2023	23,142	$	118.05	7.80
Exercisable at March 31, 2023	13,112	$	106.79	7.53

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 Three Months Ended March 31, 2022
Volatility		88.65		%
Expected term in years		6.06
Dividend rate		0.00		%
Risk-free interest rate		1.95		%
Fair value of option on grant date		$	128.70