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Stock-based Compensation (Tables)
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock Option Activity

The activity for the Company’s 2024 Plan, 2014 Plan, and 2015 Plan, for the six months ended June 30, 2024, is summarized as follows:

 

 

 

Number of
Shares

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Life (in years)

 

 

Aggregate
Intrinsic
Value ($000)

 

Outstanding — December 31, 2023

 

 

1,867,795

 

 

$

10.72

 

 

 

6.10

 

 

$

184

 

Granted

 

 

1,000,060

 

 

$

1.86

 

 

 

 

 

 

 

Forfeited/Cancelled

 

 

(25,047

)

 

$

36.36

 

 

 

 

 

 

 

Outstanding — June 30, 2024

 

 

2,842,808

 

 

$

7.38

 

 

 

7.04

 

 

$

254

 

Exercisable — June 30, 2024

 

 

1,545,764

 

 

$

11.78

 

 

 

5.22

 

 

$

59

 

Vested or expected to vest — June 30, 2024

 

 

2,842,808

 

 

$

7.38

 

 

 

7.04

 

 

$

254

 

Schedule of Restricted Stock Units ("RSU") Activity

Restricted stock unit (“RSU”) activity under the 2024 Plan, 2014 Plan, and 2015 Plan for the six months ended June 30, 2024, is summarized as follows:

 

 

Number of
Shares

 

 

Weighted
Average
Grant Date
Fair Value
Per Share

 

Non-vested at December 31, 2023

 

 

1,886,374

 

 

$

2.28

 

Granted

 

 

2,015,940

 

 

$

1.88

 

Vested

 

 

(629,849

)

 

$

3.00

 

Forfeited

 

 

(9,120

)

 

$

2.15

 

Non-vested at June 30, 2024

 

 

3,263,345

 

 

$

1.89

 

Stock-Based Compensation Expense Related to Stock Options

Stock-based compensation expense related to stock options is included in the following line items in the accompanying unaudited condensed consolidated statements of operations (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Research and development

 

$

216

 

 

$

301

 

 

$

411

 

 

$

675

 

Selling, general and administrative

 

 

543

 

 

 

427

 

 

 

1,053

 

 

 

760

 

Total

 

$

759

 

 

$

728

 

 

$

1,464

 

 

$

1,435