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Share-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Estimated Weighted Average Grant Date Fair Value per Share | The Company granted options to purchase an aggregate of 60,000 shares of common stock in the year ended December 31, 2022. The fair values of employee stock options granted in the year ended December 31, 2022 were estimated at the date of grant using the Black-Scholes model with the following assumptions and had the following estimated weighted average grant date fair value per share:
|  | Year Ended December 31, |
|  | 2022 |
Expected term |  | 5.5 years |
Expected volatility |  |  | 107 | %
Risk-free interest rate |  |  | 3.56 | %
Expected dividend yield |  |  | 0 | %
Weighted-average grant date fair value per share |  | $ | 1.87 |
Summary of Stock Option Activities | A summary of ARCA’s stock option activities for the years ended December 31, 2023 and 2022, and related information as of December 31, 2023, is as follows:
|  | Options Outstanding |
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Options outstanding - December 31, 2021 |  |  | 904,123 |  |  | $ | 5.59 |  |  |  |  |  |  |
Granted |  |  | 60,000 |  |  |  | 2.31 |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  | — |  |  |  |  |  |  |
Forfeited and cancelled |  |  | (259,163 | ) |  |  | 4.74 |  |  |  |  |  |  |
Options outstanding - December 31, 2022 |  |  | 704,960 |  |  | $ | 5.62 |  |  |  | 8.29 |  |  | $ | 18 |
Granted |  |  | — |  |  |  | — |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  | — |  |  |  |  |  |  |
Forfeited and cancelled |  |  | (88,253 | ) |  |  | 11.68 |  |  |  |  |  |  |
Options outstanding - December 31, 2023 |  |  | 616,707 |  |  | $ | 4.76 |  |  |  | 7.35 |  |  | $ | — |
Options exercisable - December 31, 2023 |  |  | 463,068 |  |  | $ | 5.28 |  |  |  | 7.29 |  |  | $ | — |
Options vested and expected to vest - December 31, 2023 |  |  | 616,661 |  |  | $ | 4.76 |  |  |  | 7.35 |  |  | $ | — |
Summary of RSU Activity | A summary of RSU activity for the year ended December 31, 2023 is presented below:
|  | Restricted Stock Units Outstanding |
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
RSUs outstanding - December 31, 2021 |  |  | — |  |  | $ | — |
Granted |  |  | 91,000 |  |  |  | 2.21 |
Vested and released |  |  | — |  |  |  | — |
Forfeited and cancelled |  |  | — |  |  |  | — |
RSUs outstanding - December 31, 2022 |  |  | 91,000 |  |  | $ | 2.21 |
Granted |  |  | — |  |  |  | — |
Vested and released |  |  | (91,000 | ) |  |  | 2.21 |
Forfeited and cancelled |  |  | — |  |  |  | — |
RSUs outstanding - December 31, 2023 |  |  | — |  |  | $ | — |
Summary of Non-cash, Share-based Compensation Expense | For the years ended December 31, 2023 and 2022, the Company recognized the following non-cash, share-based compensation expense (in thousands):
| Years Ended |
| December 31, |
| 2023 |  |  | 2022 |
General and administrative | $ | 526 |  |  | $ | 423 |
Research and development |  | 160 |  |  |  | 133 |
Total | $ | 686 |  |  | $ | 556 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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