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Stockholders’ Equity (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Schedule of valuation assumptions | The key inputs into the Black-Scholes Option Pricing Model used to estimate the fair value of the Pre-Funded Warrants as of the issuance on June 21, 2022 were as follows:
Risk-free interest rate | 3.21%
Expected volatility | 90.0%
Term until liquidation (years) | 2.00
Stock price (pre-Reverse Stock Split) | $1.11
Strike price (exercise fee) | $4.5 million
The following table sets forth significant assumptions used in the Monte Carlo model for performance-based options to determine the fair value of the options awarded in June 2023 at the date of grant for the year ended December 31, 2023.
|  |  | June 7, 2023 Awards |  |  |  |
Risk-free interest rate |  |  | 3.79 | % |  |  |  |
Expected volatility of common stock |  |  | 110.00 | % |  |  |  |
Expected life of options in years |  |  | 10.0 |  |  |  |
Dividend yield |  |  | — | % |  |  |  |
The following table sets forth significant assumptions used in the Black-Scholes model for market-based options to determine the fair value of the options awarded in December 2023 at the date of grant for the year ended December 31, 2023.
|  |  | December 5, 2023 Awards |  |  |  |
Risk-free interest rate |  |  | 4.13 | % |  |  |  |
Expected volatility of common stock |  |  | 90.60 | % |  |  |  |
Expected life of options in years |  |  | 6.5 |  |  |  |
Dividend yield |  |  | — | % |  |  |  |
The key inputs to the Black-Scholes Model used to estimate the fair value of the vested equity awards, as of the date of the termination were as follows:
|  |  | January 19, 2023 |  |  |  |
Risk-free interest rate |  |  | 3.79 | % |  |  |  |
Expected volatility of common stock |  |  | 90.00 | % |  |  |  |
Expected life of options in years |  |  | 6.92 |  |  |  |
Stock price (pre-Reverse Stock Split basis) |  |  | $ | 1.37 |  |  |  |  |
Strike Price |  |  | $ | 1.93 |  |  |  |  |

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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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