XML 32 R24.htm IDEA: XBRL DOCUMENT v3.24.2.u1

Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-based Payment Arrangement [Abstract]

Summary of Stock Option Transations

The following table summarizes the stock option transactions for the 2023 Plan:

		Total Options					Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (years)					Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2023			1,739,270			$		15.71				6.99			$		76
Granted			631,250					4.17				9.74					—
Exercised			(1,091	)				3.25				—					—
Cancelled			(228,475	)				75.27				—					—
Outstanding at June 30, 2024			2,140,954			$		5.95				8.12			$		644
Vested and exercisable at June 30, 2024			1,001,228			$		6.92				6.83			$		338

Schedule of Assumptions Using Black-Scholes to Estimate Fair Value of the stock option grants

The following are the underlying assumptions in Black-Scholes to determine the fair value of the stock option grants for the six months ended June 30, 2024 and 2023:

		Six Months Ended June 30,
		2024		2023
Risk free interest rate		2.96%		3.50%-3.56%
Expected volatility		89%		75%-76%
Expected term (years)		6.08		6.25
Expected dividend yield		0%		0%

Summary of Stock-Based Compensation Expense Recognized for Options and RSUs Granted

Stock-based compensation expense recognized for options and restricted stock units granted was as follows (in thousands):

		Three Months Ended June 30,								Six Months Ended June 30,
		2024				2023				2024				2023
Research and development		$	190			$	161			$	361			$	2,242
General and administrative			296				302				539				9,347
Total stock-based compensation expense		$	486			$	463			$	900			$	11,589

Schedule of Common Stock Reserved for Future issuance

Common stock reserved for future issuance consists of the following at June 30, 2024:

		June 30,
		2024
Common stock warrants			6,036,552
Stock options issued and outstanding			2,140,954
Shares available for issuance under the 2023 Plan			55,060
Shares available under the 2023 ESPP			122,545
Total			8,355,111

X

- Definition

Tabular disclosure of schedule of common stock reserved for future issuance.

+ References

No definition available.

+ Details

Name:	ck0001534133_ScheduleOfCommonStockReservedForFutureIssuanceTableTextBlock
Namespace Prefix:	ck0001534133_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration