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Preferred Stock and Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2025
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, 2024

 

 

15,778,451

 

 

 

17,274,293

 

 

 

33,052,744

 

Issued

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

Cancelled/Expired

 

 

 

 

 

 

 

 

 

Balance as of June 30, 2025

 

 

15,778,451

 

 

 

17,274,293

 

 

 

33,052,744

 

 

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

The following table summarizes the outstanding warrants as of June 30, 2025:

 

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 June 30, 2025

 

 

33,052,744

 

 

 

 

 

 

 

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

As of June 30, 2025, 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 Non-Voting Convertible Preferred Warrant Activity

 

 

 

Total

 

 

 

 

 

Balance as of December 31, 2024

 

 

50,207.419

 

Issued

 

 

 

Exercised

 

 

 

Balance as of June 30, 2025

 

 

50,207.419

 

 

The Series X1 Preferred Stock Warrants were issued on September 14, 2020, with an exercise price of $8.96 and an expiration date of September 14, 2025.

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

The following table presents the assumptions used in the Black-Scholes option pricing model to determine the fair value of the Common Warrants as of June 30, 2025 and December 31, 2024 as follows:

 

 

June 30,
2025

 

 

December 31,
2024

 

 

 

 

 

 

 

 

Risk-free interest rate

 

3.7%

 

 

4.4%

 

Expected stock price volatility

 

86.5%

 

 

96.4%

 

Expected term (in years)

 

3.0

 

 

3.5

 

Share price

 

$

2.71

 

 

$

4.14