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STOCK-BASED COMPENSATION (Tables) | 3 Months Ended
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Mar. 31, 2023
Share-Based Payment Arrangement [Abstract] |
SCHEDULE OF STOCK BASED COMPENSATION | The following table summarizes stock-based compensation expense for the three months ended March 31, 2023 and 2022 (in thousands): SCHEDULE OF STOCK BASED COMPENSATION
|  | 2023 |  |  | 2022 |
|  | For the three months ended March 31, |
|  | 2023 |  |  | 2022 |
Research and development |  | $ | 584 |  |  | $ | 372 |
General and administrative |  |  | 186 |  |  |  | 490 |
Total stock-based compensation expense |  | $ | 770 |  |  | $ | 862 |
SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS TO ESTIMATE THE FAIR VALUE OF THE OPTIONS GRANTED | The Company estimated the fair value of stock options granted in the periods presented utilizing a Black-Scholes option-valuation model utilizing the following assumptions: SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS TO ESTIMATE THE FAIR VALUE OF THE OPTIONS GRANTED
|  | For the three months ended March 31, |
|  | 2023* |  |  | 2022 |
Expected volatility |  |  | n/a |  |  |  | 95.13% - 95.26% |
Expected term |  |  | n/a |  |  |  | 6.07 – 6.08 years |
Risk-free interest rate |  |  | n/a |  |  |  | 1.69% - 1.76% |
Expected dividend yield |  |  | n/a |  |  |  | 0% |
* | the Company did not grant any stock options in the three months ended March 31, 2023.
SCHEDULE OF STOCK OPTIONS ACTIVITY | The following table summarizes stock option activity for the 2015 Incentive Plan and the 2005 Incentive Plan during the three months ended March 31, 2023: SCHEDULE OF STOCK OPTIONS ACTIVITY
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (years) |  |  | Aggregate Intrinsic Value (in thousands) |
Outstanding at December 31, 2022 |  |  | 240,770 |  |  | $ | 37.04 |  |  |  | 6.42 |  |  | $ | — |
Granted |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Cancelled/forfeited |  |  | (6,073 | ) |  | $ | 38.65 |  |  |  | — |  |  | $ | — |
Exercised |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Outstanding at March 31, 2023 |  |  | 234,697 |  |  | $ | 37.00 |  |  |  | 6.21 |  |  | $ | — |
Exercisable |  |  | 162,633 |  |  | $ | 36.33 |  |  |  | 5.36 |  |  | $ | — |
Unvested |  |  | 72,064 |  |  | $ | 38.52 |  |  |  | 8.12 |  |  | $ | — |
SCHEDULE OF RESTRICTED STOCK AWARD ACTIVITY | The following table summarizes restricted stock award activity for the 2015 Incentive Plan and Inducement Grants during the three months ended March 31, 2023: SCHEDULE OF RESTRICTED STOCK AWARD ACTIVITY
|  | Number of Awards |  |  | Weighted Average Grant Date Fair Value Per Unit |
Outstanding at December 31, 2022 |  |  | 816,958 |  |  | $ | 5.35 |
Granted |  |  | 136,850 |  |  | $ | 2.44 |
Cancelled/forfeited |  |  | (23,862 | ) |  | $ | 4.89 |
Vested |  |  | (9,651 | ) |  | $ | 47.36 |
Outstanding at March 31, 2023 |  |  | 920,295 |  |  | $ | 4.49 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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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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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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