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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-Based Compensation Expense | The following table summarizes the components of share-based compensation expense for the years ended December 31, 2024 and 2023 ($ in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  |
Research and development | $ | 270 |  |  | $ | 540 |  |  |
General and administrative | 1,383 |  |  | 1,498 |  |  |
Total share-based compensation expense | $ | 1,653 |  |  | $ | 2,038 |  |  |
Total compensation cost related to unvested awards not yet recognized and the weighted-average periods over which the awards are expected to be recognized at December 31, 2024 were as follows ($ in thousands):
| Stock Options |  | Restricted Stock Units |  | Warrants |  | Restricted Stock
Unrecognized compensation cost | $ | 228 |  |  | $ | 36 |  |  | $ | — |  |  | $ | 426 |
Expected weighted-average period in years of compensation cost to be recognized | 1.82 |  | 0.57 |  | 0.00 |  | 1.77
Schedule of Fair Value of Shares Vested and Weighted Average Estimated Fair Values of Shares Granted | Total fair value of shares vested and the weighted average estimated fair values of shares granted for the years ended December 31, 2024 and 2023 were as follows ($ in thousands):
|  | Stock Options |  | Warrants
|  | Year Ended December 31, |  | Year Ended December 31,
|  | 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |
Total fair value of shares vested |  | $ | 204 |  |  | $ | 1,033 |  |  |  |  | $ | — |  |  | $ | — |  |  |
Weighted average estimated fair value of shares granted |  | 2.15 |  |  | 2.09 |  |  |  |  | 1.99 |  |  | — |  |  |
Schedule of Assumptions in Calculating Fair Values of Stock Options | The range of assumptions made in calculating the fair values of stock options was as follows:
| Stock Options |  |
| Year Ended December 31, |  |
| 2024 |  | 2023 |  |  |  |  |  |  |  |
Expected term - minimum (in years) | 6.0 |  | 3.0 |  |  |  |  |  |  |  |
Expected term - maximum (in years) | 6.3 |  | 6.0 |  |  |  |  |  |  |  |
Expected volatility - minimum | 73% |  | 74% |  |  |  |  |  |  |  |
Expected volatility - maximum | 77% |  | 77% |  |  |  |  |  |  |  |
Weighted average volatility | 77% |  | 75% |  |  |  |  |  |  |  |
Expected dividend yield | — |  | — |  |  |  |  |  |  |  |
Risk-free interest rate - minimum | 3.54% |  | 3.63% |  |  |  |  |  |  |  |
Risk-free interest rate - maximum | 4.30% |  | 4.68% |  |  |  |  |  |  |  |

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- 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
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- 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
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