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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Options Activity | The following table summarizes the activity for the year ended December 31, 2024:
|  |  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  | Weighted Average |  |  | Average Remaining |  |  | Aggregate |
|  |  |  |  | Exercise |  |  | Contractual |  |  | Intrinsic |
|  | Options |  |  | Price |  |  | Term (Years) |  |  | Value |
Outstanding at January 1, 2024 |  |  | 1,134,145 |  |  | $ | 3.24 |  |  |  | 8.7 |  |  |  |
Granted |  |  | 1,101,342 |  |  | $ | 6.95 |  |  |  |  |  |  |
Exercised |  |  | (1,829 | ) |  | $ | 1.08 |  |  |  |  |  | $ | 8,249 |
Forfeited |  |  | (5,000 | ) |  | $ | 7.41 |  |  |  |  |  |  |
Outstanding at December 31, 2024 |  |  | 2,228,658 |  |  | $ | 5.07 |  |  |  | 8.4 |  |  | $ | 2,810,892 |
Exercisable at December 31, 2024 |  |  | 1,072,267 |  |  | $ | 3.98 |  |  |  | 7.9 |  |  | $ | 2,138,269 |
Vested and expected to vest at December 31, 2024 |  |  | 2,228,658 |  |  | $ | 5.07 |  |  |  | 8.4 |  |  | $ | 2,810,892 |
Summary of Stock Based Compensation in Statement of Operations |
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |
General and administrative |  | $ | 1,588,667 |  |  | $ | 545,149 |
Research and development |  |  | 1,074,872 |  |  |  | 327,099 |
|  | $ | 2,663,539 |  |  | $ | 872,248 |
Summary of Estimated Black-Scholes Option-Pricing Model Using the Weighted-Average Assumptions | The grant date fair value of each option grant for the years ended December 31, 2024 and 2023 was estimated using the Black-Scholes option-pricing model using the following weighted-average assumptions:
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |
Risk-free interest rate |  |  | 4.2 | % |  |  | 4.0 | %
Expected term (years) |  |  | 5.7 |  |  |  | 5.8 |
Expected volatility |  |  | 106.32 | % |  |  | 93.82 | %
Expected dividend yield |  |  | - |  |  |  | - |

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -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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