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STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2024
STOCK-BASED COMPENSATION [Abstract]  
Stock Option Granted

During the three months ended March 31, 2024 and 2023, the Company granted the following stock options (in thousands):


 
Three months ended March 31,
 
 
2024
 
2023
 
Stock options granted
   
1,874
     
212
 
Weighted-Average Assumptions Used for Stock Options Granted

The following weighted-average assumptions were used for stock options granted during the three months ended March 31, 2024 and 2023:


    Three months ended March 31,  
 
 
2024
   
2023
 
Weighted average risk-free rate
   
4.49
%
   
3.86
%
Weighted average volatility
   
99.13
%
   
95.04
%
Dividend yield
   
0.00
%
   
0
%
Expected term
 
6.08 years
   
5.36 years
 
Stock-Based Compensation Expense

For the three months ended March 31, 2024 and 2023, the Company recognized stock-based compensation expense as follows (in thousands):


 
Three months ended March 31,
 
 
2024
 
2023
 
Research and development
 
$
46
   
$
64
 
General and administrative
   
236
     
625
 
Total
 
$
282
   
$
689