XML 29 R17.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Share-Based Compensation
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
Share-Based Compensation
The Company utilizes share-based compensation in the form of stock options, restricted stock, and restricted stock units. The following table summarizes the components of share-based compensation expense for the three and six months ended June 30, 2024 and 2023 (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Research and development$37 $227 $123 $414 
General and administrative200 357 568 844 
Total share-based compensation expense$237 $584 $691 $1,258 

Total compensation cost related to unvested awards not yet recognized and the weighted-average periods over which the awards were expected to be recognized at June 30, 2024 were as follows (in thousands):
Stock OptionsRestricted Stock UnitsRestricted Stock
Unrecognized compensation cost$323 $206 $646 
Expected weighted-average period in years of compensation cost to be recognized2.090.692.00
Total fair value of shares vested and the weighted average estimated fair values of shares granted for the six months ended June 30, 2024 and 2023 were as follows (in thousands):
Stock Options
Six Months Ended June 30,
20242023
Total fair value of shares vested$201 $641 
Weighted average estimated fair value of shares granted$2.16 $2.11 

Valuation Assumptions
The fair value of stock options at the date of grant was estimated using the Black-Scholes option pricing model. The expected volatility is based upon historical volatility of the Company’s stock. The expected term for the options is based upon observation of actual time elapsed between date of grant and exercise of options for all employees. The expected term for the warrants is based upon the contractual term of the warrants.