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Stock Plans and Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option | A summary of stock option activity under the 2010 Plan and Inducement Awards are summarized as follows:
| Number of Shares |  | Weighted Average Exercise Price per Share |  | Weighted Average Remaining Contractual Life |  | Aggregate Intrinsic Value
Outstanding, December 31, 2024 | 1,160,251 |  |  | $ | 33.44 |  |  | 7.19 |  | $ | — |
Granted | 1,388,400 |  |  | 3.04 |  |  |  |  |
Exercised | — |  |  | — |  |  |  |  |
Canceled/Forfeited | (122,121) |  |  | 10.57 |  |  |  |  |
Outstanding, June 30, 2025 | 2,426,530 |  |  | $ | 17.30 |  |  | 8.17 |  | $ | — |
Exercisable at June 30, 2025 | 774,125 |  |  | $ | 45.01 |  |  | 5.64 |  | $ | — |
Vested and unvested expected to vest at June 30, 2025 | 2,426,530 |  |  | $ | 17.30 |  |  | 8.17 |  | $ | — |
Schedule of Valuation Assumptions Used to Calculate Fair Value of Employee Options Awarded | the following estimated assumptions under the Black-Scholes option pricing model:
| Six Months Ended June 30,
| 2025 |  | 2024
Expected term (years) | 6.0 |  | 6.0
Risk free interest rate | 3.9% - 4.4% |  | 3.9% - 4.3%
Expected volatility | 113% - 114% |  | 114% - 116%
Expected dividends | None |  | None
Schedule of Restricted Stock Awards | The following table presents a summary of RSAs under the 2010 Plan as of June 30, 2025:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Unvested, December 31, 2024 | 40,137 |  |  | $ | 18.20 |
Awarded | — |  |  | — |
Vested | (39,637) |  |  | 18.20 |
Forfeited | (500) |  |  | 18.20 |
Unvested, June 30, 2025 | — |  |  | $ | — |
The following table presents a summary of RSUs under the 2010 Plan as of June 30, 2025:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Unvested, December 31, 2024 | — |  |  | $ | — |
Awarded | 350,600 |  |  | 3.13 |
Vested | — |  |  | — |
Forfeited | (67,100) |  |  | 3.13 |
Unvested, June 30, 2025 | 283,500 |  |  | 3.13 |
Schedule of Stock-Based Compensation Expense | For the three and six months ended June 30, 2025 and 2024, the Company recorded stock-based compensation expense to the following line items in its costs and expenses section of the Condensed Consolidated Statements of Operations and Comprehensive Loss:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Research and development | $ | 492 |  |  | $ | 737 |  |  | $ | 1,084 |  |  | $ | 1,546 |
General and administrative | 643 |  |  | 967 |  |  | 1,215 |  |  | 1,717 |
Total stock-based compensation expense | $ | 1,135 |  |  | $ | 1,704 |  |  | $ | 2,299 |  |  | $ | 3,263 |

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -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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