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Stock-based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | The following table summarizes stock option activity for the six months ended June 30, 2024:
| Options |  | Weighted average exercise price |  | Weighted average remaining contractual term (years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2023 | 6,023,370 |  | $ | 3.94 |  |  |  |  |
Exercised | (3,810) |  | 0.99 |  |  |  |  | $ | 4 |
Granted | 3,674,365 |  | 1.77 |  |  |  |  |
Forfeited | (1,008,687) |  | 4.70 |  |  |  |  |
Outstanding as of June 30, 2024 | 8,685,238 |  | $ | 2.93 |  |  | 8.14 |  | $ | 2,018 |
Exercisable as of June 30, 2024 | 3,487,670 |  | $ | 2.19 |  |  | 6.40 |  | $ | 1,517 |
Schedule of Estimated Using The Black-Scholes Option-Pricing Model | The fair values in the six months ended June 30, 2024 and 2023 were estimated using the Black-Scholes option-pricing model based on the following assumptions:
| Six Months Ended June 30,
| 2024 |  | 2023
Risk-free interest rate | 3.77% - 4.59% |  | 2.92% - 4.03%
Expected term | 6 years |  | 6 years
Expected volatility | 103.00% - 107.10% |  | 57.77% - 65.00%
Expected dividend yield | — |  |  | — |
Schedule of Stock-based Compensation Expense | The Company recorded stock-based compensation expense in the following expense categories in its accompanying unaudited interim consolidated statements of operations:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Research and development | $ | (44) |  |  | $ | 24 |  |  | $ | 392 |  |  | $ | 34 |
General and administrative | 669 |  |  | 306 |  |  | 1,290 |  |  | 561 |
| $ | 625 |  |  | $ | 330 |  |  | $ | 1,682 |  |  | $ | 595 |

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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 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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