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Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2024
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,

 

 

2024

 

2023

 

 

 

 

 

Expected stock price volatility

 

101.3%

 

90.5%

Risk-free interest rate

 

4.2%

 

3.7%

Expected life of options (in years)

 

6.9

 

6.1

Estimated dividend yield

 

—%

 

—%
Schedule of Company's Outstanding Warrants to Purchase Shares of Common Stock

As of December 31, 2024, the Company's outstanding warrants to purchase shares of common stock consisted of the following:

 

Date Issued

 

Number of Shares of Common Stock Issuable

 

 

Exercise Price

 

 

Expiration Date

 

 

 

 

 

 

 

 

 

January 2020 common warrants

 

 

5,586

 

 

$

18.90

 

 

July 14, 2025

January 2020 common warrants

 

 

3,591

 

 

$

18.90

 

 

July 17, 2025

January 2020 common warrants

 

 

247,264

 

 

$

12.96

 

 

July 14, 2025

January 2020 common warrants

 

 

71,800

 

 

$

12.96

 

 

July 17, 2025

September 2020 common warrants

 

 

298,692

 

 

$

3.08

 

 

September 14, 2025

2023 Securities Purchase Agreement common warrants

 

 

15,151,518

 

 

$

3.00

 

 

May 5, 2028

January 2021 pre-funded warrants

 

 

509,117

 

 

$

0.001

 

 

December 31, 2030

2023 Securities Purchase Agreement pre-funded warrants

 

 

3,844,153

 

 

$

0.001

 

 

N/A

2024 Securities Purchase Agreement pre-funded warrants

 

 

7,989,516

 

 

$

0.001

 

 

N/A

2024 Underwritten Offering pre-funded warrants

 

 

4,931,507

 

 

$

0.001

 

 

N/A

Balance as of December 31, 2024

 

 

33,052,744

 

 

 

 

 

 
Common Stock Warrants [Member]  
Class Of Stock [Line Items]  
Schedule of Warrants to Purchase Common Stock Activity

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

 

 

 

Roll-Forward of Warrant Activity

 

 

 

Common Stock Warrants

 

 

Pre-Funded Warrants

 

 

Total

 

Balance as of December 31, 2023

 

 

15,788,032

 

 

 

5,776,270

 

 

 

21,564,302

 

Issued

 

 

—

 

 

 

12,921,023

 

 

 

12,921,023

 

Exercised

 

 

—

 

 

 

(1,423,000

)

 

 

(1,423,000

)

Cancelled/Expired

 

 

(9,581

)

 

 

—

 

 

 

(9,581

)

Balance as of December 31, 2024

 

 

15,778,451

 

 

 

17,274,293

 

 

 

33,052,744

 
Preferred Stock Warrants [Member]  
Class Of Stock [Line Items]  
Schedule of Warrants to Purchase Common Stock Activity

As of December 31, 2024, 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 limitations).

 

 

 

Roll-Forward of Series X1 Convertible Preferred Warrant Activity

 

 

 

Total

 

Balance as of December 31, 2023

 

 

50,207.419

 

Assumed and replaced

 

 

—

 

Exercised

 

 

—

 

Cancelled/Expired

 

 

—

 

Balance as of December 31, 2024

 

 

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, 2024, and as of the issuance date:

 

 

Year Ended
December 31,

 

 

 

2024

 

 

2023

 

Expected stock price volatility

 

96.4%

 

 

89.1% - 94.3%

 

Risk-free interest rate

 

4.4%

 

 

3.8% - 3.9%

 

Expected life of options (in years)

 

3.5

 

 

4.5 - 6.0

 

Share price

 

$

4.14

 

 

$

1.80