Equity Incentive Plans (Tables)

9 Months Ended

Sep. 30, 2023

Equity Incentive Plans

Schedule of Stock-Based Compensation Expenses

The tables below summarize the total share-based compensation expense (reversal) included in the Company’s consolidated statements of operations for the periods presented:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Research and development	$	144,000	$	570,000	$	948,000	$	1,249,000
General and administrative		(517,000)		276,000		(203,000)		1,039,000
Total share-based compensation	$	(373,000)	$	846,000	$	745,000	$	2,288,000

Schedule of Stock Option Activity

Stock option transactions during the nine months ended September 30, 2023 are presented below:

	Options Outstanding
				Weighted
				Average
		Weighted		Remaining
		Average		Contractual	Aggregate
		Exercise		Term	Intrinsic
	Shares	Price		(Years)	Value
Outstanding at December 31, 2022	3,352,803	$	5.32	7.8
Granted	17,500		2.36
Exercised	(1,500)		3.15		$	1,000
Forfeited/Cancelled	(455,503)		5.16			1,000
Outstanding at September 30, 2023	2,913,300	$	5.33	5.8	$	45,000
Vested and expected to vest at September 30, 2023	2,913,300	$	5.33	5.8	$	45,000
Exercisable at September 30, 2023	2,136,125	$	5.53	5.2	$	—

Schedule of Restricted Stock Awards and Restricted Stock Unit Activity

Restricted stock award transactions under the Assumed 2016 Plan and restricted stock unit award transactions during the nine months ended September 30, 2023 are presented below:

		Weighted Avg
		Grant Date
	Shares	Fair Value
Outstanding at December 31, 2022	129,666	$	27.11
Forfeited/Cancelled	(9,914)		39.54
Vested and Issued as Common Stock	(54,901)		29.97
Outstanding at September 30, 2023	64,851	$	22.79

Schedule of Shares Reserved for Future Issuance

As of September 30, 2023, the Company had reserved shares of its Common Stock for future issuance as follows:

	Shares Reserved
Stock options outstanding	2,913,300
Unvested restricted stock units	30,000
Restricted stock awards	34,851
Employee stock purchase plan	9,748
Available for future grants under the 2016 Plan	2,826,291
Warrants outstanding	20,549,338
Total shares reserved	26,363,528