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Equity Incentive Plans and Warrants | 6 Months Ended
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Jun. 30, 2025
Equity Incentive Plans and Warrants [Abstract] |
Equity Incentive Plans and Warrants | (10) Equity Incentive Plans and Warrants Stock-Based Awards (a) Stock Option Plans Activity under the Company’s stock option plans for the six months ended June 30, 2025 was as follows:
|  |  | Number of options |  |  |  | Weighted average exercise price |  |  |  | Aggregate Intrinsic Value |
Outstanding at December 31, 2024 |  |  | 2,974,219 |  |  | $ | 1.60 |  |  |  |  |
Granted |  |  | 1,595,315 |  |  |  | 1.09 |  |  |  |  |
Forfeited |  |  | (171,037 | ) |  |  | 1.10 |  |  |  |  |
Outstanding at June 30, 2025 |  |  | 4,398,497 |  |  | $ | 1.43 |  |  |  | 619,562 |
Vested and exercisable at June 30, 2025 |  |  | 1,796,098 |  |  | $ | 2.01 |  |  |  | 380,874 |
The intrinsic value represents the amount by which the market price of the underlying stock at June 30, 2025 exceeds the exercise price of an option. Options granted under the 2021 Stock Option Plan for the six months ended June 30, 2025 to employees and nonemployees were 1,524,915 and 70,400, respectively and the weighted average exercise prices were $1.09 and $0.98, respectively. The weighted average fair values of the options granted to employees and nonemployees were $0.84 and $0.73, respectively and were estimated using the following Black-Scholes assumptions:
|  |  | Employees |  |  |  | Nonemployees |
Expected term (in years) |  |  | 6.06 |  |  |  | 5.50 |
Risk‑free interest rate |  |  | 4.37 | % |  |  | 3.91 | %
Dividend yield |  |  | — | % |  |  | — | %
Expected volatility |  |  | 91.17 | % |  |  | 90.77 | %
No options were exercised for the six months ended June 30, 2025 under our stock option plans. On June 25, 2025, Femasys stockholders approved an amendment to the 2021 Equity Incentive Plan to increase the total number of shares of common stock authorized for issuance by 3,000,000. As of June 30, 2025, the total number of shares of common stock reserved for future awards under the 2021 Stock Option Plan was 3,133,620. (b) Inducement Grants Since 2023, the Company has granted 250,000 inducement grants, a stock option grant to certain employees for the right to purchase shares, which were approved by the Compensation Committee. The inducement grants vest in equal installments over four years provided the employee remains employed by the Company on the vesting date. In the first quarter of 2025, there were forfeitures of 100,000 options. In the second quarter of 2025, there was a grant of 100,000 options. The inducement grants are summarized as follows:
|  | Number of options |  |  |  | Weighted average exercise price |  |  |  | Weighted average remaining life years |
Outstanding at December 31, 2024 |  | 250,000 |  |  | $ | 1.89 |  |  |  | 8.07 |
Granted |  | 100,000 |  |  |  | 0.90 |  |  |  | 9.98 |
Forfeited |  | (100,000 | ) |  |  | 1.10 |  |  |  | — |
Outstanding at June 30, 2025 |  | 250,000 |  |  | $ | 1.81 |  |  |  | 8.11 |
Vested and exercisable at June 30, 2025 |  | 100,000 |  |  | $ | 2.56 |  |  |  | 6.82 |
(c) Share-Based Compensation Expense The following table shows the share-based compensation expense related to vested stock option grants to employees and nonemployees by financial statement line item on the accompanying condensed statements of comprehensive loss:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2025 |  |  |  | 2024 |  |  |  | 2025 |  |  |  | 2024 |
Research and development | $ | 68,299 |  |  |  | 34,629 |  |  |  | 205,223 |  |  |  | 64,637 |
Sales and marketing |  | 21,418 |  |  |  | 18,246 |  |  |  | 10,987 |  |  |  | 24,764 |
General and administrative |  | 92,254 |  |  |  | 51,138 |  |  |  | 332,998 |  |  |  | 92,197 |
Total share-based compensation expense | $ | 181,971 |  |  |  | 104,013 |  |  |  | 549,208 |  |  |  | 181,598 |
As of June 30, 2025, the remaining share-based compensation expense that is expected to be recognized in future periods for employees and nonemployees is $1,924,030, which includes $155,222 of compensation expense to be recognized upon achieving certain performance conditions. For service-based awards, the $1,768,808 of unrecognized expense is expected to be recognized over a weighted average period of 2.9 years. (d) Employee Stock Purchase Plan (ESPP) For the six months ended June 30, 2025, 49,247 shares of common stock were issued under the Company’s ESPP at a fair value of $40,875. For the six months ended June 30, 2024, 12,081 shares of common stock were issued under the Company’s ESPP Plan at a fair value of $10,390. As of June 30, 2025, the total number of shares of common stock reserved for future awards under the ESPP was 719,668.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent + Details
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