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STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

SCHEDULE OF STOCK BASED COMPENSATION

The following table summarizes stock-based compensation expense for the three and nine months ended September 30, 2023 and 2022 (in thousands):

  SCHEDULE OF STOCK BASED COMPENSATION

		2023				2022				2023				2022
		For the three months ended September 30,								For the nine months ended September 30,
		2023				2022				2023				2022
Research and development		$	339			$	173			$	743			$	729
General and administrative			1,218				459				2,511				1,489
Total stock-based compensation expense		$	1,557			$	632			$	3,254			$	2,218

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-pricing model utilizing the following assumptions:

  SCHEDULE OF WEIGHTED-AVERAGE ASSUMPTIONS TO ESTIMATE THE FAIR VALUE OF THE OPTIONS GRANTED

		For the nine months ended September 30,
			2023*				2022
Expected volatility (%)			n/a				95.1% - 96.0%
Expected term (years)			n/a				6.07 - 6.08 years
Risk-free interest rate (%)			n/a				1.7% - 3.3%
Expected dividend yield (%)			n/a				0%

SCHEDULE OF STOCK OPTION ACTIVITY

The following table summarizes stock option activity for the 2015 Incentive Plan and the 2005 Incentive Plan during the nine months ended September 30, 2023 (there were no stock options granted under the 2023 Incentive Plan during the nine months ended September 30, 2023):

SCHEDULE OF STOCK OPTION 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				(17,447	)		$	33.40				—			$	—
Exercised				—			$	—				—			$	—
Outstanding at September 30, 2023				223,323			$	37.33				5.69			$	—
Exercisable				170,958			$	36.81				5.09			$	—
Unvested				52,365			$	39.03				7.65			$	—

SCHEDULE OF RESTRICTED STOCK AWARD ACTIVITY

The following table summarizes restricted stock award activity for the 2023 Incentive Plan, 2015 Incentive Plan and Inducement Grants during the nine months ended September 30, 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				1,817,559			$	3.96
Cancelled/forfeited				(56,398	)		$	4.32
Vested				(269,195	)		$	5.44
Outstanding at September 30, 2023				2,308,924			$	4.27

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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.

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-SubTopic 10
-Section 50
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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.

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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.

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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.

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