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Stock-based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Weighted-Average Fair Value of Options Granted | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 | ​ | 2022 | ​ | 2021
Expected term |  | 6.25 years | ​ | 6.25 years | ​ | 6.25 years
Expected volatility |  | 78.36% | ​ | 84.66% | ​ | 84.19%
Risk-free interest rate |  | 3.60% | ​ | 1.90% | ​ | 0.78%
Expected dividend yield |  | 0% | ​ | 0% | ​ | 0%
Stock-Based Compensation Expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  |  | 2023 |  | 2022 |  | 2021
Research and development expense | ​ | ​ | $ | 909,981 | ​ | $ | 1,059,591 | ​ | $ | 2,214,848
General and administrative expense | ​ | ​ |  | 2,614,495 | ​ |  | 2,797,989 | ​ |  | 3,872,438
Total stock-based compensation expense | ​ | ​ | $ | 3,524,476 | ​ | $ | 3,857,580 | ​ | $ | 6,087,286
​
2013 Equity Incentive Plan |
Company's Stock Option Activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | WEIGHTED- | ​ | AGGREGATE
​ |  | ​ | ​ | WEIGHTED- | ​ | AVERAGE | ​ | INTRINSIC
​ |  | ​ | ​ | AVERAGE | ​ | REMAINING | ​ | VALUE
​ |  | OUTSTANDING | ​ | EXERCISE | ​ | CONTRACTUAL | ​ | (IN
​ |  | OPTIONS |  | PRICE |  | TERM (YEARS) |  | THOUSANDS)
Outstanding as of December 31, 2022 | ​ | 6,774,792 | ​ | $ | 6.37 | ​ | 6.1 | ​ | ​ | ​
Options granted | ​ | 2,496,850 | ​ | ​ | 2.52 | ​ | ​ | ​ | ​ | ​
Options exercised | ​ | (100,960) | ​ | ​ | 1.15 | ​ | ​ | ​ | ​ | ​
Options forfeited | ​ | (896,882) | ​ | ​ | 6.16 | ​ | ​ | ​ | ​ | ​
Outstanding as of December 31, 2023 | ​ | 8,273,800 | ​ | ​ | 5.29 | ​ | 6.3 | ​ | $ | 2,043
Vested or expected to vest as of December 31, 2023 | ​ | 8,131,900 | ​ | ​ | 5.37 | ​ | 6.3 | ​ | ​ | 1,865
Exercisable as of December 31, 2023 | ​ | 4,993,061 | ​ | ​ | 7.30 | ​ | 4.5 | ​ | ​ | 921
Summary of RSU Activity | The following is a summary of RSU activity for the 2013 Plan for the year ended December 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | Weighted-Average |
​ | ​ | Number of Shares | ​ | Grant Date |
​ | ​ | Underlying RSUs |  | Fair Value |
Unvested at December 31, 2022 | ​ | 204,785 | ​ | $ | 3.81 | ​
Forfeited | ​ | (19,573) | ​ |  | 3.81 | ​
Vested | ​ | (68,055) | ​ |  | 3.81 | ​
Unvested at December 31, 2023 | ​ | 117,157 | ​ |  | 3.81 | ​
Inducement Plan |
Company's Stock Option Activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | WEIGHTED- | ​ | AGGREGATE
​ |  | ​ | ​ | WEIGHTED- | ​ | AVERAGE | ​ | INTRINSIC
​ |  | ​ | ​ | AVERAGE | ​ | REMAINING | ​ | VALUE
​ |  | OUTSTANDING | ​ | EXERCISE | ​ | CONTRACTUAL | ​ | (IN
​ |  | OPTIONS |  | PRICE |  | TERM (YEARS) |  | THOUSANDS)
Outstanding as of December 31, 2022 | ​ | 2,333,525 | ​ | $ | 1.82 | ​ | 8.7 | ​ | ​ | ​
Options granted | ​ | 360,000 | ​ | ​ | 2.76 | ​ | ​ | ​ | ​ | ​
Options forfeited | ​ | (103,125) | ​ | ​ | 1.34 | ​ | ​ | ​ | ​ | ​
Outstanding as of December 31, 2023 | ​ | 2,590,400 | ​ | ​ | 1.97 | ​ | 8.0 | ​ | $ | 1,304
Vested or expected to vest as of December 31, 2023 | ​ | 2,006,200 | ​ | ​ | 1.96 | ​ | 8.0 | ​ | ​ | 1,077
Exercisable as of December 31, 2023 | ​ | 887,696 | ​ | ​ | 1.90 | ​ | 7.7 | ​ | ​ | 460

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