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Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2023
Class Of Stock [Line Items]  
Schedule of Assumptions Used in Black-Scholes Option Pricing Model to Determine the Fair Value of Stock Options, Common Warrants and Subsequent Closing Warrants Granted

The Company estimates the fair value of stock option awards on the grant date using the Black-Scholes option pricing model with the following weighted-average assumptions:

 

 

 

Year Ended
December 31,

 

 

2023

 

2022

Expected stock price volatility

 

90.5%

 

83.9%

Risk-free interest rate

 

3.7%

 

2.0%

Expected life of options

 

6.08 years

 

6.27 years

Estimated dividend yield

 

0%

 

0%
Common Stock Warrants [Member]  
Class Of Stock [Line Items]  
Schedule of Warrant Activity

The following table shows the warrants to purchase common stock activity:

 

 

 

Roll-Forward of Warrant Activity

 

 

 

Common Stock Warrants

 

 

Pre-funded warrants

 

 

All Other Warrants

 

 

Total

 

Balance as of December 31, 2022

 

 

—

 

 

 

509,117

 

 

 

636,514

 

 

 

1,145,631

 

Issued

 

 

15,151,518

 

 

 

6,421,350

 

 

 

—

 

 

 

21,572,868

 

Exercised

 

 

—

 

 

 

(1,154,197

)

 

 

—

 

 

 

(1,154,197

)

Cancelled/Expired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance as of December 31, 2023

 

 

15,151,518

 

 

 

5,776,270

 

 

 

636,514

 

 

 

21,564,302

 
Preferred Stock Warrants [Member]  
Class Of Stock [Line Items]  
Schedule of Warrant Activity

As of December 31, 2023, there were 50,207.419 warrants exercisable into Series X1 Preferred Stock which are convertible into 2,789,301 shares of common stock (after rounding for fractional shares and subject to beneficial ownership conversion blockers).

 

 

 

Roll-Forward of Series X1 Convertible Preferred Warrant Activity

 

 

 

Total

 

Balance as of December 31, 2022

 

 

50,207.419

 

Assumed and replaced

 

 

—

 

Exercised

 

 

—

 

Cancelled/Expired

 

 

—

 

Balance as of December 31, 2023

 

 

50,207.419

 
Securities Purchase Agreement [Member]  
Class Of Stock [Line Items]  
Schedule of Assumptions Used in Black-Scholes Option Pricing Model to Determine the Fair Value of Stock Options, Common Warrants and Subsequent Closing Warrants Granted

The following table presents the assumptions used in the Black-Scholes option pricing model to determine the fair value of Common Warrants and Subsequent Closing Warrants granted as of December 31, 2023 and as of the issuance date:

 

 

December 31, 2023

 

 

April 28, 2023
(Date of Issuance)

 

Risk-free interest rate

 

3.84% - 3.88%

 

 

3.50%

 

Expected volatility

 

89.08% - 94.28%

 

 

88.29% - 91.56%

 

Expected term (in years)

 

4.5 - 6.0

 

 

5.0 - 6.5

 

Share price

 

$

1.80

 

 

$

2.31