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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | Stock-based compensation has been recognized in operating results as follows:
(in thousands) |  | Years ended December 31, |
|  | 2024 |  |  | 2023 |
Research and development expenses |  | $ | 1,660 |  |  | $ | 1,279 |
Selling, general and administrative expenses |  |  | 3,100 |  |  |  | 3,230 |
Total stock-based compensation |  | $ | 4,760 |  |  | $ | 4,509 |
Schedule of Assumptions to Estimate Fair Value of Stock Option Awards | The estimated fair value of stock option awards was determined on the date of grant using the Black-Scholes option valuation model with the following assumptions during the years indicated below:
|  | Years ended December 31,
|  | 2024 |  | 2023
Risk-free interest rate (range) |  | 4.04% - 4.27% |  | 3.56% - 4.06%
Dividend yield |  | 0% |  | 0%
Expected volatility (range) |  | 103% - 107% |  | 105% - 110%
Expected term (in years) |  | 5.8 years |  | 5.2 years
Summary of Stock Option Activity | A summary of stock option activity and of changes in stock options outstanding is presented below:
|  | Number of Options |  |  | Weighted- Average Exercise Price Per Share |  |  | Intrinsic Value |  |  | Weighted- Average Remaining Contractual Life
Balance outstanding, December 31, 2023 |  |  | 6,650,954 |  |  | $ | 4.27 |  |  | $ | 23,926 |  |  | 7.9 years
Granted |  |  | 1,905,096 |  |  | $ | 3.40 |  |  |  |  |  |
Exercised |  |  | (139,430 | ) |  | $ | 2.67 |  |  | $ | 139,371 |  |  |
Forfeited and expired |  |  | (81,855 | ) |  | $ | 26.39 |  |  |  |  |  |
Balance Outstanding, December 31, 2024 |  |  | 8,334,765 |  |  | $ | 3.88 |  |  | $ | 11,668,989 |  |  | 7.5 years
Vested and exercisable, December 31, 2024 |  |  | 4,723,009 |  |  | $ | 4.48 |  |  | $ | 6,404,133 |  |  | 6.7 years
Vested and expected to vest, December 31, 2024 |  |  | 8,132,737 |  |  | $ | 3.91 |  |  | $ | 11,344,268 |  |  | 7.4 years

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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