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Stock-based Compensation (Tables)
12 Months Ended
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