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Stock-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2023
Stock-Based Compensation [Abstract] |
Schedule of Grant-Date Fair Value of Stock Options Granted | The following table presents the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted:
|  | Year Ended |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Exercise price |  |  | $0.85 – 1.84 |  |  |  | $1.67 – 2.61 |
Risk-free interest rate |  |  | 4.7 – 5.0% |  |  |  | 0.6 – 4.5% |
Expected volatility |  |  | 98 – 137% |  |  |  | 127 – 164% |
Expected dividend yield |  |  | 0% |  |  |  | 0% |
Expected life of options (in years) |  |  | 5.0 |  |  |  | 5.0 |
Schedule of Option Activity | The following table summarizes the Company’s option activity:
Weighted Average Number of Shares (in thousands) |  | Weighted Average Exercise Price |  |  | Contractual Term (in years) |
Outstanding as of December 31, 2021 |  |  |  |  |  |  |  |  |
As previously reported |  |  | 5,197 |  |  | $ | 7.68 |  |  |  | 2.5 |
Adjustments (1) |  |  | (1,100 | ) |  |  | (2.45 | ) |  |  | 1.4 |
As restated |  |  | 4,097 |  |  |  | 5.23 |  |  |  | 3.9 |
Granted |  |  | 6,853 |  |  |  | 1.38 |  |  |  | 5.0 |
Forfeited |  |  | (1,785 | ) |  |  | 3.17 |  |  |  | - |
Outstanding as of December 31, 2022 |  |  | 9,165 |  |  |  | 3.51 |  |  |  | 4.2 |
Granted |  |  | 5,340 |  |  |  | 1.38 |  |  |  | 5.0 |
Forfeited |  |  | (662 | ) |  |  | 4.41 |  |  |  | - |
Outstanding as of December 31, 2023 |  |  | 13,843 |  |  | $ | 2.64 |  |  |  | 3.7 |
Vested as of December 31, 2022 |  |  | 6,413 |  |  | $ | 3.58 |  |  |  | 4.2 |
Vested as of December 31, 2023 |  |  | 8,803 |  |  | $ | 3.21 |  |  |  | 3.4 |
Schedule of Exercise Price Range | The following table summarizes the exercise price range as of December 31, 2023 (in thousands):
Exercise Price |  |  | Outstanding Options |  |  | Exercisable Options |
$ | 0.00 – 1.00 |  |  |  | 180 |  |  |  | 10 |
$ | 1.00 – 2.00 |  |  |  | 5,695 |  |  |  | 1,935 |
$ | 2.00 – 3.00 |  |  |  | 6,359 |  |  |  | 5,318 |
$ | 3.00 – 5.00 |  |  |  | 65 |  |  |  | 65 |
$ | 5.00 – 7.00 |  |  |  | 726 |  |  |  | 713 |
$ | 7.00 – 12.00 |  |  |  | 818 |  |  |  | 762 |
|  |  |  |  | 13,843 |  |  |  | 8,803 |
Schedule of Stock-Based Compensation Expense Related to Common Stock Options and Restricted Shares of Common Stock | The Company recognized stock-based compensation expense related to common stock options and restricted shares of common stock in the following expense categories of its consolidated statements of operations (in thousands):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |
Research and development |  |  | 2,080 |  |  |  | 509 |
Selling and marketing |  |  | (279 | ) |  |  | 494 |
General and administrative |  |  | 2,470 |  |  |  | 8,320 |
Total stock-based compensation |  | $ | 4,271 |  |  | $ | 9,323 |

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