XML 47 R28.htm IDEA: XBRL DOCUMENT v3.24.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Stock-Based Compensation  
Schedule of stock-based compensation expense

Year Ended December 31, 

    

2023

    

2022

Research and development expense

$

2,189

$

2,427

General and administrative expense

 

5,193

 

5,997

Total stock-based compensation expense

$

7,382

$

8,424

Summary of stock option activity

    

    

Weighted  

    

Average 

Remaining 

Aggregate 

Weighted  

Contractual

Intrinsic 

Number of 

Average 

  Term 

Value (1)

    

Stock Options

    

Exercise Price

    

(In years)

    

(In thousands)

Outstanding as of December 31, 2022

 

4,960,553

 

$

8.04

 

8.6

$

89

Granted

 

3,738,555

$

2.75

 

  

 

  

Exercised

 

(2,757)

$

2.82

 

  

 

  

Cancelled/forfeited

 

(1,240,556)

$

7.26

 

  

 

  

Outstanding as of December 31, 2023

 

7,455,795

$

5.52

 

8.0

$

-

Exercisable as of December 31, 2023

 

3,103,732

$

7.04

 

6.6

$

-

(1)The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s common stock for those stock options that had exercise prices lower than the fair value of the Company’s common stock as of the end of the period.
Schedule of assumptions used in determining fair value of options granted

Year Ended December 31, 

2023

    

2022

Risk-free interest rate

3.57 - 4.40

%  

    

1.47 – 4.22

%  

Expected dividend yield

0

%

 

0

%

Expected term (in years)

5.5 - 6.1

 

5.3 – 6.1

Expected volatility

81.7 - 87.3

%

 

80.8 – 87.6

%

Summary of restricted stock activity

    

Number

    

Weighted

of Shares

Average

of Restricted

Grant Date

    

Stock

    

Fair Value

Unvested as of December 31, 2022

46,160

$

5.51

Vested

(39,250)

$

5.51

Canceled/Forfeited

 

(1,293)

 

$

5.51

Unvested as of December 31, 2023

 

5,617

 

$

5.51