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Stock-Based Compensation (Tables)

12 Months Ended

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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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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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.

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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.

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