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Share-Based Compensation (Tables)

12 Months Ended

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

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
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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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-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
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Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year.

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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