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Stock-Based Compensation (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2024

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 during the three and nine months ended September 30, 2024 and 2023:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
Exercise price		$	1.00 – 1.12			$	1.35 – 1.35			$	1.00 – 1.12			$	1.35 – 1.84
Risk-free interest rate			5.2 – 5.2	%			4.8 – 4.8	%			5.2 – 5.2	%			4.7 – 4.8	%
Expected volatility			93.2 – 104.6	%			134.5 – 134.5	%			93.2 – 104.6	%			122.2 – 136.9	%
Expected dividend yield			0	%			0	%			0	%			0	%
Expected life of options (in years)			5.0				5.0				5.0				5.0

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 for the nine months ended September 30, 2024 (in thousands, except exercise price and contractual life data):

		Number Outstanding				Weighted Average Exercise Price per Share				Weighted Average Remaining Contractual Life (Years)
Balance as of January 1, 2024			13,843			$	2.64				3.7
Granted			250				1.01				5.0
Exercised			-				-				-
Forfeited			(1,724	)			4.11				-
Balance as of September 30, 2024			12,369			$	2.41				3.1
Vested and exercisable as of September 30, 2024			8,375			$	2.87				2.8

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 September 30, 2024 (in thousands, except exercise price data):

Exercise Price				Outstanding Options				Exercisable Options
$	0.00 – 1.00				105				10
$	1.00 – 2.00				5,348				1,794
$	2.00 – 3.00				5,845				5,500
$	3.00 – 6.00				38				38
$	6.00 – 8.00				683				683
$	8.00 – 12.00				350				350
					12,369				8,375

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 for services in lieu of cash payments to certain consultants, including expenses for both shares issued and stock option awards granted, in the following expense categories of its consolidated statements of operations (in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
Selling and marketing		$	-			$	(107	)		$	-			$	(174	)
General and administrative			2				107				21				456
Total stock-based compensation		$	2			$	-			$	21			$	282

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

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):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
Research and development		$	562			$	408			$	1,761			$	1,358
Selling and marketing			12				85				123				(351	)
General and administrative			189				499				796				2,103
Total stock-based compensation		$	763			$	992			$	2,680			$	3,110

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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