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Stock Award Plan and Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity for Employees and Non-Employees

Stock option activity for employees and non-employees for the nine months ended September 30, 2024 is as follows:

		Shares Issuable Pursuant to Stock Options				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Terms (years)				Total Intrinsic Value (in thousands)
Outstanding January 1, 2024			1,157,229			$	11.36				8.5			$	745
Granted			—			$	—
Exercised			—			$	—
Cancelled/Forfeited			(90,625	)		$	8.29
Expired			(6,495	)		$	48.00
Outstanding September 30, 2024			1,060,109			$	11.40				7.8			$	—
Exercisable September 30, 2024			477,643			$	18.31				6.8			$	—
Available for future grant			459,486

Summary of Assumptions Used in Black Scholes Model to Estimate Fair Value of Stock Options

The Company uses the Black-Scholes model to estimate the fair value of stock options granted. There were no stock options granted during the nine months ended September 30, 2024. For stock options granted during the nine months ended September 30, 2023, the Company utilized the following assumptions:

		Nine Months Ended
		September 30, 2023
Expected term (years)		5.50
Risk free interest rate		4.68%
Volatility		119%
Dividend yield		0%
Weighted average grant date fair value per share of common stock		$6.26

Schedule of Stock-Based Compensation Expense Included in the Company's Consolidated Statements of Operations

The following table presents stock-based compensation expense included in the Company’s consolidated statements of operations:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
Research and development		$	84,776			$	185,075			$	361,270			$	667,558
General and administrative			222,932				186,868				714,605				689,759
Total		$	307,708			$	371,943			$	1,075,875			$	1,357,317

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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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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
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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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