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Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Option Activity

A summary of activity for the year ended December 31, 2024 is as follows:

		Options				Weighted Average  Exercise Price				Weighted Average Remaining Contractual Term (years)				Aggregate Intrinsic Value
Balance as of December 31, 2023			140,109			$	37.48				8.07
Granted			506,127				1.58
Cancelled/forfeited			(47,696	)			38.02
Balance as of December 31, 2024			598,540			$	7.08				9.00			$	-
Vested and expected to vest at December 31, 2024			547,893			$	7.52				9.00			$	-
Exercisable at December 31, 2024			144,739			$	22.96				7.60			$	-

Weighted-average Assumptions

The fair value of each option awarded during the years ended December 31, 2024 and 2023 was estimated on the date of grant using the Black-Scholes-Merton option valuation model based on the following weighted-average assumptions:

	December 31, 2024			December 31, 2023
Expected term	6.0 years			6.0 years
Risk-free interest rate		3.79	%		4.06	%
Expected volatility		120.6	%		127.0	%
Dividends		0	%		0	%
Resulting fair value	$	1.39		$	4.47

Summary of Share-Based Compensation Recognized

The following table summarizes share-based compensation recognized during the years ended December 31, 2024 and 2023 in the statement of operations (in thousands):

		Years ended December 31,
		2024				2023
Research and development		$	51			$	66
General and administrative			499				503
Total share-based compensation		$	550			$	569

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, 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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