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Equity-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Equity-Based Compensation Expense Classification in Statement of Operations

Equity-based compensation expense is classified in the statements of operations as follows:

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Research and development expense			$	—					$	—					$	—					$	154
General and administrative expense			6						969						11						1,123
			$	6					$	969					$	11					$	1,277

Schedule of Assumptions Used to Determine Fair Value of Common Stock Option Grants

The following table presents the assumptions used in the Black-Scholes option-pricing model for stock options granted during the six months ended June 30, 2023:

									Six Months Ended June 30,
									2023
Expected term									5.8 to 5.8 years
Risk-free interest rate									3.83% to 3.83%; weighted avg. 3.83%
Expected volatility									101.0% to 101.0%; weighted avg. 101.0%
Forfeiture rate									5		%
Expected dividend yield									—		%

The fair value of the underlying common stock and the exercise price for the common stock options granted during the six months ended June 30, 2023 are summarized in the table below. No options were granted during the six months ended June 30, 2024.

			Fair Value of Underlying Common Stock						Exercise Price of Common Stock Option
Six months ended June 30, 2023			$1.58; weighted avg. $1.58						$1.58; weighted avg. $1.58

Schedule of Common Stock Option Activity

A summary of common stock option activity as of the periods indicated is as follows:

			Options						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term (years)						Aggregate Intrinsic Value (thousands)
Outstanding - December 31, 2023			12,115						$	4.28					5.4						$	—
Granted			—						—
Exercised			—						—
Forfeited			(416)						5.51
Outstanding - June 30, 2024			11,699						$	5.51					4.9						$	—
Exercisable - June 30, 2024			11,699						$	5.51					4.9						$	—
Vested and Expected to Vest - June 30, 2024			11,699						$	5.51					4.9						$	—

Schedule of Restricted Stock Unit Awards Activity

A summary of restricted stock unit activity of the periods indicated is as follows:

			Restricted Stock Units						Weighted-Average Grant Date Fair Value
Unvested balance - December 31, 2023			3,043						$	10.41
Granted			—						—
Vested			(592)						18.47
Forfeited			(417)						3.45
Unvested balance - June 30, 2024			2,034						$	12.24

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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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.

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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.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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