v3.24.2.u1

Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes the stock option activity during the six months ended June 30, 2024:

			Stock Option Shares						Weighted Average Exercise Price						Weighted Average Remaining Contractual Term (in Years)						Aggregate Intrinsic Value (in thousands)
Outstanding, January 1, 2024			4,579,659						$	14.11					8.37						$	25
Granted			1,461,715						1.87
Exercised			—						—
Expired/cancelled			(590,041)						11.41
Outstanding as of June 30, 2024			5,451,333						$	11.05					8.40						$	16
Options exercisable as of June 30, 2024			2,478,035						$	13.97					7.81						$	16
Vested and expected to vest as of June 30, 2024			5,451,333						$	11.05					8.40						$	16

Schedule of Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

Activity with respect to the Company’s restricted stock units during the six months ended June 30, 2024 is as follows:

			Shares						Weighted Average Grant Date Fair Value
Nonvested shares at January 1, 2024			32,558						$	4.30
Granted			308,700						1.92
Vested/Issued			—						—
Forfeited			(7,410)						1.92
Nonvested shares at current period end			333,848						$	2.15

Schedule of Recognized Compensation Cost Related to Employee and Non-employee Stock-Based Compensation Activity

The Company recognized the following compensation cost related to employee and non-employee share-based compensation activity for the periods presented (in thousands):

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Selling, general and administrative			$	1,772					$	1,846					$	4,114					$	3,486
Research and development			1,067						1,208						2,314						2,308
Total			$	2,839					$	3,054					$	6,428					$	5,794

Schedule of Stock Options Valuation Assumptions

The calculation was based on the following assumptions:

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Weighted average grant date fair value (per share)			$1.27						$6.07						$1.39						$7.95
Risk-free interest rate			4.27% - 4.29%						3.47% - 3.85%						4.13% - 4.29%						3.42% - 4.17%
Expected volatility			89.96% - 90.53%						91.54% - 99.29%						89.22% - 91.46%						89.94% - 99.29%
Expected term (in years)			5.50 - 6.06						5.50 - 6.08						5.00 - 6.08						5.50 - 6.08
Expected dividend yield			—						—						—						—

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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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-Topic 718
-SubTopic 10
-Section 50
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-Subparagraph (h)(1)
-Publisher FASB
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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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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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