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Stockholders’ Equity (Tables) | 3 Months Ended
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Mar. 31, 2025
Stockholders’ Equity [Abstract] |
Schedule of Changes in Options | A summary of the changes in options during the three months ended March 31, 2025 is as follows:
|  | Number of Options |  |  | Weighted Average Exercise Price Per Share |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding and expected to vest at December 31, 2024 |  |  | 12,263,017 |  |  | $ | 16.61 |  |  |  | 6.01 |  |  | $ | - |
Granted |  |  | 203,567 |  |  | $ | 0.30 |  |  |  | - |  |  | $ |  |
Cancelled |  |  | (1,207,657 | ) |  | $ | 17.34 |  |  |  | - |  |  | $ | - |
Outstanding at March 31, 2025 |  |  | 11,258,927 |  |  | $ | 16.24 |  |  |  | 6.46 |  |  | $ | - |
Options exercisable at March 31, 2025 |  |  | 8,748,097 |  |  | $ | 19.02 |  |  |  | 6.02 |  |  | $ | - |
Schedule of the Changes in Outstanding Warrants | A summary of the changes in outstanding warrants during the three months ended March 31, 2025 is as follows:
|  | Number of Shares |  |  | Weighted Average Exercise Price Per Share |
Outstanding Warrants at December 31, 2024 |  |  | 1,382,613 |  |  | $ | 17.02 |
Expired |  |  | (509,705 | ) |  |  | - |
Outstanding at March 31, 2025 |  |  | 872,908 |  |  | $ | 29.25 |
Warrants Vested at March 31, 2025 |  |  | 865,033 |  |  | $ | 29.28 |
Schedule of Stock-Based Compensation Expense | The following table summarizes the components of stock-based compensation expense which includes restricted stock, stock options, and warrants in the unaudited consolidated statements of operations for the three months ended March 31, 2025 and 2024 (rounded to nearest $00):
|  | Three Months Ended March 31, 2025 |  |  | Three Months Ended March 31, 2024 |
Research and development |  | $ | 1,067,300 |  |  | $ | 1,699,300 |
General and administrative |  |  | 3,410,700 |  |  |  | 6,596,200 |
Total |  | $ | 4,478,000 |  |  | $ | 8,295,500 |

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- Definition 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. + 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 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 + Details
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