XML 52 R42.htm IDEA: XBRL DOCUMENT v3.23.3
Equity (Tables)
3 Months Ended
Oct. 31, 2023
Equity [Abstract]  
Schedule of Stock Option Activity A summary of stock option activity for the Company is as follows:
   Number of
Options
   Weighted
Average
Exercise
Price
   Weighted
Average
Remaining
Contractual
Term (in years)
   Aggregate
Intrinsic Value
(in thousands)
 
Outstanding at July 31, 2023   388,409   $14.51    8.71   $
        —
 
Granted   
    
    
    
 
Expired   
    
    
    
 
Cancelled / Forfeited   
    
    
    
 
Outstanding at October 31, 2023   388,409   $14.51    8.45   $
 
Exercisable at October 31, 2023   115,800   $27.76    7.73   $
 
A summary of option activity for Rafael Medical Devices, LLC is as follows:
   Number of
Options
   Weighted
Average
Exercise
Price
   Weighted
Average
Remaining
Contractual
Term
(in years)
   Aggregate
Intrinsic Value
(in thousands)
 
Outstanding at July 31, 2023   5,266   $3.82    9.76   $
          —
 
Granted   43,878    10.00    9.75    
 
Exercised   
    
    
    
 
Cancelled / Forfeited   (5,266)   3.82    
    
 
Outstanding at October 31, 2023   43,878   $10.00    9.75   $
 
Exercisable at October 31, 2023   11,886   $10.00    9.75   $
 
Schedule of Fair Value of Units Granted The following table summarizes assumptions used to compute the fair value of Units granted under the RMD 2023 Plan during the three months ended October 31, 2023:
Risk-free interest rate   4.24-4.54% 
Expected term (in years)   5-6.25 
Expected volatility   113%
Expected dividend yield   
—%
Schedule of Grants of Restricted Shares of Class B Common Stock A summary of the status of the Company’s grants of restricted shares of Class B common stock is presented below:
   Number of
Non-vested
Shares
   Weighted
Average
Grant Date
Fair Value
 
Outstanding at July 31, 2023   684,766   $4.22 
Granted   246,408    1.84 
Vested   (76,001)   4.03 
Non-vested shares at October 31, 2023   855,173   $3.41 
Schedule of Stock-Based Compensation Expense A summary of the stock-based compensation expense for the Company’s equity incentive plans is presented below (in thousands):
   For the Three Months Ended,
October 31
 
   2023   2022 
General and administrative  $508   $1,083 
Research and development   141    97 
Net stock-based compensation expense  $649   $1,180