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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Stock-Based Compensation

Schedule of Stock Based Compensation Expense

Stock based compensation has been reported within expense line items on the consolidated statement of operations for the years ended 2024 and 2023 as shown in the following table (in thousands):

​	​	​	​	​	​	​	​
​		Year Ended
​		December 31,
​		2024			2023		​
General and administrative	​	$	498	​	$	1,039	​
Research and development	​	​	94	​	​	434	​
Stock-based compensation costs	​	$	592	​	$	1,473	​

Schedule of Share Option Activity

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​	​		Weighted		​	​
​		​		Weighted			Average		​	​
​		Number of		Average			Remaining		Aggregate
​	​	Options		Exercise			Contractual	​	Intrinsic
​	​	Outstanding	​	Price Per Share			Term (Years)	​	Value ($000)
Options outstanding at December 31, 2022	​	107,373	​	$	87.70		8.34	​	$	—
Granted	​	43,342	​	$	8.82		—	​	$	—
Exercised	​	—	​	$	—		—	​	$	—
Cancelled/forfeited	​	(7,919)	​	$	332.24		—	​	$	—
Options outstanding at December 31, 2023		142,796	​	$	50.20		7.96	​	$	—
​	​	​	​	​	​	​	​	​	​	​
Granted	​	12,500	​	$	2.28		—	​	$	—
Cancelled/forfeited	​	(36,807)	​	$	51.37		—	​	$	—
Options outstanding at December 31, 2024		118,489	​	$	44.41		7.20	​	$	—
​	​	​	​	​	​	​	​	​	​	​
Unvested at December 31, 2024		17,773	​	$	9.38		8.45	​	$	—
Vested and exercisable at December 31, 2024		100,716	​	$	50.59		6.99	​	$	—

Schedule of Assumptions Used for Fair Value of the Stock Options Granted Using Black-Scholes Option-Pricing Model

​

​	​	​	​	​
​	​	​	​	​
​	​	Year ended	​	Year ended
​		December 31, 2024		December 31, 2023
Expected term (years)		6		5 - 6
Risk free interest rate		3.995%	​	3.660%  – 4.160%
Volatility		93%	​	89% – 92%
Expected dividend yield over expected term		0.00%	​	0.00%
Resulting weighted average grant date fair value		$1.77	​	$6.63

Schedule of Restricted Stock Units Activity

​

​	​	​	​	​	​	​
​		​		​	​	Weighted
​		​		​	​	Average
​	​	Restricted		​	​	Remaining
​	​	Stock Units	​	​	​	Term
Restricted Stock Units outstanding at December 31, 2022	​	9,177	​	$28.20	​	​
Granted	​	25,621	​	$11.96	​	​
Cancelled/forfeited	​	(300)	​	$13.50	​	​
Restricted Stock Units outstanding at December 31, 2023		34,498	​	$16.26	​	8.96 years
​	​	​	​	​	​	​
Granted	​	12,500	​	$2.28	​	9.03 years
Cancelled/forfeited	​	(7,584)	​	$15.31	​	​
Restricted Stock Units outstanding at December 31, 2024	​	39,414	​	$12.01	​	8.30 years
​	​	​	​	​	​	​
Unvested at December 31, 2024		9,945	​	$13.67	​	8.06 years
​	​	​	​	​	​	​
Vested at December 31, 2024		29,469	​	$11.45	​	8.39 years

​

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