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Stock-Based Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes stock option activity for the six months ended June 30, 2024 and 2023, respectively, for the 2019 Plan:

			Options						Weighted- Average Exercise Price						Weighted- Average Remaining Contractual Term (Years)						Aggregate Intrinsic Value
Outstanding as of January 1, 2024			6,196,140						$	7.15
Granted			4,810,349						$	1.22
Exercised			—						$	—
Repricing Modification			—						$	9.55
Forfeited or expired			(186,931)						$	2.55
Outstanding as of June 30, 2024			10,819,558						$	1.66					8.43						$	1,875
Options vested and expected to vest as of June 30, 2024			10,819,558						$	1.66					8.43						$	1,875
Options exercisable as of June 30, 2024			3,606,762						$	2.14					6.97						$	—

			Options						Weighted- Average Exercise Price						Weighted- Average Remaining Contractual Term (Years)						Aggregate Intrinsic Value
Outstanding as of January 1, 2023			3,791,688						$	11.33
Granted			2,059,314						$	1.45
Exercised			—						$	—
Forfeited or expired			(80,926)						$	8.25
Outstanding as of June 30, 2023			5,770,076						$	7.85					8.42						$	2,170,958
Options vested and expected to vest as of June 30, 2023			5,770,076						$	7.85					8.42						$	2,170,958
Options exercisable as of June 30, 2023			2,184,848						$	12.05					7.43						$	62,614

Schedule of Valuation Assumptions Used

The following are the underlying assumptions used in the Black-Scholes option pricing model to determine the fair value of stock options granted to employees and to non-employees under this stock plan:

			Six Months Ended June 30,
			2024			2023
Risk-free interest rate			4.10%			3.93%
Expected dividend yield			0%			0%
Expected volatility			99.6%			101.6%
Expected term of options (years)			5.95			5.99

Schedule of Stock-based Compensation Expense for Stock Awards Recognized

Total stock-based compensation expense for all stock awards recognized in the accompanying unaudited condensed consolidated statements of operations is as follows:

									Three Months  Ended June 30,												Six Months  Ended June 30,
															2024						2023						2024						2023
Research and development															$	842,000					$	889,000					$	2,005,000					$	1,792,000
General and administrative															1,040,000						909,000						2,627,000						1,985,000
Total															$	1,882,000					$	1,798,000					$	4,632,000					$	3,777,000

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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