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Equity-based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2024
Equity-based Compensation |
Schedule of fair value of options granted using the Black-Scholes option pricing model | ​
​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended September 30,
​ |  | 2024 |  | 2023
Expected volatility |  | 91.78% – 92.29% |  | 91.53% – 92.68%
Risk-free interest rate |  | 4.23% – 4.45% |  | 3.46% – 4.26%
Dividend yield |  | 0% |  | 0%
Expected term (years) |  | 6.10 – 6.20 |  | 6.18 – 6.36
Summary of activity for options | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Options Outstanding
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted-Average
​ | ​ | ​ | ​ | ​ | ​ | Aggregate | ​ | Remaining
​ | ​ | Number of | ​ | Weighted-Average | ​ | Intrinsic Value | ​ | Contractual Life
​ |  | Options |  | Exercise Price |  | (in 000’s) |  | (In Years)
Balance, December 31, 2023 |  | 4,213,405 | ​ | $ | 4.73 |  | $ | 1,579 | ​ | 6.5
Options granted |  | 247,500 | ​ | $ | 1.97 | ​ | ​ | ​ | ​ | ​
Options exercised |  | (93,350) | ​ | $ | 0.88 | ​ | ​ | ​ | ​ | ​
Options forfeited |  | (4,225) | ​ | $ | 2.49 | ​ | ​ | ​ | ​ | ​
Options expired |  | (1,250) | ​ | $ | 2.66 | ​ | ​ | ​ | ​ | ​
Balance, September 30, 2024 |  | 4,362,080 | ​ | $ | 4.66 | ​ | $ | — | ​ | 6.1
Exercisable as of September 30, 2024 |  | 3,599,654 | ​ | $ | 5.09 | ​ | $ | — | ​ | 5.5
Schedule of restricted stock units award activity | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of | ​ | Weighted-Average
​ | ​ | Restricted Stock Units | ​ | Grant Date Fair Value
Outstanding at December 31, 2023 | ​ | 522,155 | ​ | $ | 2.07
Granted | ​ | 873,800 | ​ | $ | 1.97
Vested | ​ | (183,482) | ​ | $ | 2.17
Forfeited | ​ | (8,125) | ​ | $ | 2.25
Outstanding at September 30, 2024 | ​ | 1,204,348 | ​ | $ | 1.98
Schedule of total equity-based compensation expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30, |
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023 |
Research and development | ​ | $ | 291 | ​ | $ | 176 | ​ | $ | 804 | ​ | $ | 489 | ​
General and administrative | ​ |  | 605 | ​ |  | 895 | ​ |  | 2,410 | ​ |  | 2,794 | ​
Total equity-based compensation | ​ | $ | 896 | ​ | $ | 1,071 | ​ | $ | 3,214 | ​ | $ | 3,283 | ​

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