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Equity (Tables)
12 Months Ended
Dec. 31, 2024
Schedule of initial carrying value

(in thousands)

Allocated Amount

Common Stock

$

2,391

Public Warrants

1,831

$

4,222

(in thousands)

Allocated Amount

Common Stock

$

865

Private Pre-Funded Warrants

1,214

Private Warrants

2,389

$

4,468

(in thousands)

Allocated Amount

Common Stock

$

1,447

Participation Right Pre-Funded Warrants

580

Participation Right Private Warrants

2,250

$

4,277

Schedule of public warrants and underwriter warrants

Stock price 

$

0.79

Expected volatility 

108.01%

Contractual/expected term (in years)

5.00

Risk-free interest rate 

4.64%

Expected dividend yield 

0%

Stock price 

$

0.79

Expected volatility 

108.01%

Contractual/expected term (in years)

5.00

Risk-free interest rate 

4.64%

Expected dividend yield 

0%

Stock price 

$

0.65

Expected volatility 

108.01%

Contractual/expected term (in years)

5.00

Risk-free interest rate 

4.25%

Expected dividend yield 

0%

Summary of warrants outstanding

Warrants 

Pre-Funded Warrants(1) 

(in thousands, except per share data)

Number

Wtd. Avg. Exercise Price 

Wtd. Avg. Remaining Life (in years) 

Number

Wtd. Avg. Exercise Price 

Beginning Balance 

Granted

21,319

$

1.0535

4,499

$

0.0001

Exercised 

(24)

1.0500

Forfeited/Expired 

Outstanding at Period End 

21,295

$

1.0535

4.74

4,499

$

0.0001

(1) Pre-Funded warrants have no expiration date and only expire when exercised in full. 

Schedule of outstanding, reserved and authorized shares under share-based compensation plans

December 31, 

December 31, 

(in thousands)

    

2024

    

2023

Outstanding options and restricted stock units

 

3,316

 

3,430

Reserved but unissued shares under the Plan

1,858

2,302

Reserved but unissued shares at end of period

 

5,174

 

5,732

Schedule of stock option activity

December 31, 

December 31, 

2024

2023

(in thousands, except per share data)

Options to Purchase Common Stock

Weighted Average Exercise Price

Weighted Average Remaining Contractual Life (in years)

Aggregate Intrinsic Value

Options to Purchase Common Stock

Weighted Average Exercise Price

Weighted Average Remaining Contractual Life (in years)

 

Aggregate Intrinsic Value

Outstanding at beginning of year

 

2,759

$

2.07

 

5.38

180

 

2,779

$

2.05

 

6.43

Granted

 

$

 

 

$

 

Exercised

 

$

 

 

(20)

$

0.54

 

20

Forfeited/Expired

 

(307)

$

2.25

 

18

 

$

 

Outstanding at end of period

 

2,452

$

2.04

 

4.92

496

 

2,759

$

2.07

 

5.38

180

Exercisable at end of period

 

1,872

$

1.70

 

4.55

485

 

2,024

$

1.71

 

4.87

171

Schedule of restricted stock unit activity

December 31, 

December 31, 

2024

2023

(in thousands, except per share data)

Number of Shares

Weighted Average Grant Date Fair Value

Weighted Average Contractual Life (in years) (1)

Number of Shares

Weighted Average Grant Date Fair Value

Weighted Average Remaining Contractual Life (in years) (1)

Nonvested at beginning of period

 

671

$

1.05

1.08

423

$

1.49

0.02

Granted

 

517

$

0.97

617

$

0.82

Vested

 

(323)

$

1.08

(361)

$

1.18

Forfeited

$

(8)

$

0.79

Nonvested at end of period

 

865

$

0.99

0.88

671

$

1.05

1.08

1)Weighted Average Contractual Life calculation excludes the number of director RSUs that vest upon one of four performance events (refer to discussion above for details).
Schedule of share-based compensation activity

December 31, 

(in thousands)

    

2024

    

2023

Reserved but unissued shares at beginning of period

188

196

Increases in the number of authorized shares

 

116

 

7

Grants

 

(40)

 

(15)

Reserved but unissued shares at end of period

 

264

 

188

Restricted Stock Units  
Schedule of compensation expense

For the Year Ended

December 31, 

(in thousands, except per share data)

2024

    

2023

Share-based compensation expense

$

397

$

337

Weighted average value per share

$

1.27

$

0.83

Equity Incentive Plan  
Schedule of awards to employees stock in lieu of cash payment for compensation

2024

2023

(in thousands, except per share data)

Number of Shares

    

Fair Value

Weighted Average per Share

Number of Shares

    

Fair Value

Weighted Average per Share

Share-based compensation

24

$

27

$

1.15

$

$

Fair value of stock payments in accrued compensation

307

$

326

$

1.06

296

$

234

$

0.79

Consultant Stock Plan  
Schedule of compensation expense

For the Year Ended

December 31, 

(in thousands, except per share data)

    

2024

    

2023

Share-based compensation expense

$

29

$

10

Weighted average value per share

$

0.75

$

0.69

Non-Qualified Stock Option  
Schedule of stock option activity

December 31, 

December 31, 

2024

2023

(in thousands, except per share data)

Options to Purchase Common Stock

Weighted Average Exercise Price

Weighted Average Remaining Contractual Life (in years)

Aggregate Intrinsic Value

Options to Purchase Common Stock

Weighted Average Exercise Price

Weighted Average Remaining Contractual Life (in years)

 

Aggregate Intrinsic Value

Outstanding at beginning of year

 

491

$

1.53

 

4.04

$

30

 

341

$

1.80

 

6.01

$

Granted

 

$

 

 

300

$

1.11

 

Exercised

 

$

 

 

(50)

$

1.31

 

Forfeited/Expired

 

$

 

 

(100)

$

1.31

 

Outstanding at end of period

 

491

$

1.53

 

3.04

$

119

 

491

$

1.53

 

4.04

$

30

Exercisable at end of period

 

441

$

1.60

 

3.29

$

93

 

391

$

1.69

 

4.61

$

10